Fact.MR study on Taxifolin market reveals that the global market revenue is estimated to grow at a CAGR of over 5% between 2019 and 2027. In 2017, the global taxifolin market stood at US$1.4 Bn, where Europe was the largest market. Though the taxifolin market share of APEJ has been growing at a faster pace than other regions owing to the growth in consumption of nutraceuticals and food products containing taxifolin.
Wide application areas of Taxifolin increases its demand
Taxifolin also known as dihydroquercetin is used in several applications including food and beverages, healthcare, cosmetics, and agriculture. Several studies and research papers prove taxifolin as a potent ingredient for several application areas. Taxifolin is used as an additive for food products as it stabilizes shelf life of the products by 12-36 months. Taxifolin being a natural antioxidant with antibacterial, antimicrobial, and anti-inflammatory properties, its applications has been further expanding. Even the smallest amount of taxifolin is able to prevent oxidative stress and shields the body from free radicals. The demand of taxifolin in food products is projected to grow at the fastest pace during the forecast period. The application areas of taxifolin in food and beverages industry include dairy products, meat processing, alcoholic and non-alcoholic beverages, and confectionary.
The other application areas of taxifolin includes cosmetics, cosmetics and agriculture. As a health supplement, the use of taxifolin based supplements has been observed to surge among the sportspeople. Especially during eth competition period, when the athletes need to perform beyond their regular limits, taxifolin is very useful as it boosts the cardiovascular system to bear the exercise load. In agriculture, taxifolin is used to boost plant growth. Several other health benefits associated with taxifolin includes protection of capillary and liver. The demand for cosmetics has been growing globally due to the up-liftment in consumers’ lifestyles.
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Europe Stands as the Largest Taxifolin Market
Europe, especially Russia have been the largest producer of taxifolin, which is due to availability of conifers including Siberian larch, which is the key raw material for the manufacturing of taxifolin. Russia has one of the largest naturally available volumes of Siberian larch, with an estimated 60 Bn cubic meters. Dahurian larches is another raw material for taxifolin. The global demand of Taxifolin is many time more than its present supply, which has kept the prices significantly elevated. The Taxifolin prices also vary largely among the regions due to several factors including the availability of raw materials, processing companies and regional demand level. Though, the demand supply gasp has been narrowing down with the involvement of more number of companies into this business.
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A recent study published by Fact.MR finds that sales of calcium formate exceeded 1,100 tons in 2018 and are anticipated to register a 3.5% Y-o-Y growth in 2019.
A cohort of drivers including favourable government regulations supporting the production process of calcium formate to achieve gas desulphurization and its niche applications in tile adhesives and textiles industry have been determining the calcium formate market growth.
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The calcium formate market is estimated to register a CAGR of over 5% through 2029.The study highlights that the upgraded lifestyle of consumers and the subsequent inclination towards premium products have led to a notable rise in the demand for calcium formate.
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