High malignancy inhibiting and antioxidant properties to enhance uptake of different taxifolin grades across the pharmaceutical domain
DUBAI, UAE / ACCESSWIRE / February 2, 2021 / Fact.MR's extensive coverage on the global taxifolin market forecasts a steady expansion trajectory throughout FY 2021-22, with long-term growth prospects poised to remain optimistic, pegged at a positive CAGR, despite a downswing experienced until Q3 2020 due to the pandemic crisis. As production cycles began rebounding, supply chains have been stabilizing, causing an upswing in demand in recent months.
The taxifolin market has made substantial gains in the past, with Fact.MR estimating revenues to have grown at a steady 5% between 2015 and 2020. Growth was majorly underpinned by extensive applications across the pharmaceuticals and food & beverages segments respectively. Sales have especially heightened due to incorporation of different taxifolin grades in the manufacturing of vitamin supplements and oncology drugs.
A study published in the BMJ Open Diabetes Research & Care projects that approximately 50% of adults in the United States consume dietary supplements annually, attributed to their high safety and low cost. Hence, taxifolin manufacturers have been gaining ground across the American market in recent years. Similarly, the FDA approved and added new indications to 47 drugs for oncology in 2018, signifying the tremendous potential offered in the cancer treatment domain.
"Manufacturers are effectively leveraging institutional level partnerships by collaborating with key research organizations- private and governmental- to accelerate applicability of taxifolin across key end-use industries," says the Fact.MR analyst.
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Key Takeaways from Fact.MR's Taxifolin Market Study
- By purity, <95% grade taxifolin demand will be highest
- Pharmaceutical grade taxifolin to retain the top spot, food & beverage grade acquiring surging popularity
- U.S. taxifolin market continues to tread steadily, owing to increased potential in preventing and managing several cancers
- Demand for taxifolin in U.K. to register steady growth amid a burgeoning pharmaceutical industry through 2021
- Germany and France taxifolin market to experience steady growth amid rising applications as antioxidants in dairy products
- India to emerge as a lucrative market, with agriculture grade application expected to gain traction; China, Japan and South Korea to be attractive growth hotspots
Taxifolin Market- Prominent Drivers
- Adverse impacts of flavonoids present in foodstuffs is prompting food manufacturers to use taxifolin preservatives, augmenting growth
- Studies establishing taxifolin being as effective as Vitamin C with regard to strengthening of the human body immune system to heighten applications in manufacturing vitamin supplements
- Expanding scope for treating debilitating cancers is accelerating taxifolin uptake to develop oncology drugs
Taxifolin Market- Key Restraints
- Diminishing marginal returns to scale in the wake of high market saturation to deter new entrants, restraining revenue margins
Discover more about the taxifolin market with 113 figures and 90 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/2801/taxifolin-market
Competitive Landscape
According to Fact.MR, the global taxifolin market is highly consolidated, characterized by the presence of a handful of manufacturers such as JW Health Products, Kingherbs Ltd., Ametis JSC, Abcam Plc., Cayman Chemical Company, Linjiang Jianwei Biotech Co. Ltd., Hangzhou J&H Chemical Co. Ltd. and Adooq Bioscience.
The aforementioned players invest in extensive research, product launches and collaborations with API manufacturers and suppliers so as to consolidate their footing in the market. Linjiang Biotech is a prominent taxifolin manufacturer, producing two variants: Taxifolin 98% and Taxifolin. The former is primarily used for medicinal or tech grade usage while the latter is used as a food ingredient.
In November 2020, Cayman Chemical Company initiated the construction of a US$ 20 million research and development facility at its headquarters. The new facility is expected to measure 66,000 square feet in area, consisting of a three-story structure housing the company's contract services, research and production activities. This is likely to augment its taxifolin manufacturing capacity as well.
More Valuable Insights on Taxifolin Market
Fact.MR, in its new offering, presents an unbiased analysis of the global taxifolin market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the taxifolin market on the basis of purity (<95%, ≥95%) and application (food & beverages, pharmaceuticals, healthcare, agriculture), across six major regions (North America, Latin America, Europe Japan, Asia Pacific Excluding Japan, and the Middle East & Africa).
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