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Isoflavones Market
The Isoflavones Market was estimated around USD 1,216 million in 2019 and is expected to grow at a CAGR of 4.3% over the forecast period (2020-2027).
The factors driving the growth of Isoflavones Market includes increasing use of isoflavones in the manufacturing of cosmetics, and hair care products, rise in the number of coronary heart diseases and breast cancer around the world and growing geriatric population. According to the report published by Bloomberg, the Global Cosmetic Market is anticipated to reach USD 463.5 billion by the end of 2027, expanding at a CAGR of 5.3% over the forecast period (2021-2027), which will boost the Isoflavones Market size in the approaching years. Moreover, the growing popularity of organic food products, increasing demand for soy products, expansion of the nutraceutical industry and rise in the production of moisturizers and face creams around the world, are some of the additional factors supplementing the Isoflavones Market share. In addition, the technological innovations in the manufacturing of isoflavones, increasing investments by leading players on research and development, rising awareness amongst consumers about the health benefits of isoflavones and growing population growth rates, are further contributing to the market growth.
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However, the growth of Isoflavones Market is hindered due to owing to unfavorable drug price control policies.
The prominent players operating in the market are Nexira, Sikko Industries Ltd., NutraScience Labs., Nutra Green Biotechnology Co., Ltd., Cargill, Incorporated, BASF SE, DSM, FutureCeuticals, International Flavors & Fragrances Inc. and Shanghai Freemen, LLC, among others.
Source: Segment Analysis
Based on Source, the Soy segment is anticipated to hold the highest market share during the forecast period. Rise in the consumption of soy products along with increasing use of isoflavones in the food ingredients to reduce the risk of breast cancer, are some of the factors responsible for the segment’s growth
Application: Segment Analysis
Based on Application, the pharmaceuticals segment is projected to expand at a remarkable CAGR over the forecast period owing to increasing use of isoflavones to treat sever diseases such as cardiovascular diseases.
Regional: Segment Analysis
Based on Region, the North American region is expected to capture the largest market share during the forecast period. Rise in the cases of obesity, increasing geriatric population, growing consciousness amongst consumers about adopting healthy lifestyles, expansion of the cosmetic industry, high per disposable incomes and improved living standards, are some of the important factors propelling the market growth in North America.
Market Segmentation
Global Isoflavones Market by Source
Soy
Red Clover
Others
Global Isoflavones Market by Application
Pharmaceuticals
Nutraceuticals
Cosmetics
Food & Beverages
Global Isoflavones Market by Form
Powder
Liquid
Global Isoflavones Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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