Hydroxytyrosol Market to Bolster on Back of Elevating Demand for Dietary Supplements, Projects Fact.MR
Published : 26 May 2021 Industry: Chemical & Materials
An EFSA-approved health study on olive oil polyphenols found that hydroxytyrosol supplements could improve cardiovascular health to a great extent and reduce the risk of heart problems. Owing to this fact, use of hydroxytyrosol in the development of functional foods, nutraceuticals, and dietary supplements has increased in the past half-decade.
Increasing disposable income is prompting consumers to shift towards healthier lifestyles with rising dependence on dietary supplements and nutraceuticals. In addition, hydroxytyrosol usage in cosmetic products offers superior antioxidant properties, thereby provide antiaging and anti-wrinkle effects, which is widely sought out by millennials.
North America currently consumes the most hydroxytyrosol produced across the globe, followed by European countries. This is because a large portion of dietary supplement, cosmetics, and pharmaceutical industries are based in these regions, and hydroxytyrosol plays an important role in these end-use industries.
As per a revised report published by Fact.MR, the global hydroxytyrosol market is anticipated to close in on a valuation of US$ 2 Bn in 2021, and expand at around 7% CAGR through 2031.
Key Takeaways from Market Study
- The hydroxytyrosol market is anticipated to add 1.9X value by 2031 as compared to 2021.
- Cosmetics application captures major chunk equivalent to one-third of the global market, and is set to create an absolute $ opportunity of around US$ 480 Mn during 2021-2031.
- Dietary supplement application is anticipated to gain around 266 BPS and expand at around 9% CAGR over the forecast period of 2021-2031.
- Liquid hydroxytyrosol is anticipated to gain around 330 BPD over the period of 2021-2031, and create an absolute $ opportunity of around US$ 800 Mn by 2031.
- Virgin olive oil as a source captures a major share equivalent to half of the global hydroxytyrosol market, and is set to create an absolute $ opportunity of around US$ 940 Mn during 2021-2031.
- North America is set to dominate market revenue in 2021, but is expected to lose 466 BPS in its market share by 2031.
- South Asia, on the other hand, is poised to be the growth hotspot during the forecast period, and is expected to create an absolute $ opportunity of around US$ 323 Mn by 2031.
“Plethora of researches to identify newer use cases of hydroxytyrosol to promote market growth,”says a Fact.MR analyst.
Market Players Focusing on R&D
Vital players have been spending on research & development, and a plethora of researches are going on to identify newer use cases of hydroxytyrosol in the field of pharmaceuticals. This factor is expected to drive market growth in the medium- to long-term forecast period.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global hydroxytyrosol market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of form (powder and liquid), product type (natural [95% purity, 20% purity, and 10% purity] and synthetic [95% purity, 20% purity, and 10% purity}), source (standard olive oil, virgin olive oil, and catechol), and application (pharmaceuticals, nutraceuticals, functional food, dietary supplements, and cosmetics), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Chemicals and Materials Team at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant – Chemicals and Materials