Hydroxytyrosol Market By Form (Powder, Liquid), By Product Type (Natural Hydroxytyrosol, Synthetic Hydroxytyrosol), By Source (Standard Olive Oil, Catechol), By Application (Pharmaceutical, Nutraceuticals, Functional Food)- Global Market Insights 2021 to 2031

Key Questions Answered in Report

• What is the expected growth rate for the global hydroxytyrosol market size through 2031?

  Fact.MR projects the market to register an approx. 7% CAGR across the 2021-2031 assessment period. Amplified demand from dietary supplement, pharmaceutical, and cosmetic manufacturers will bolster sales over the coming years.

• Which country is the most prominent growth contributor?

  The market in the United States is projected to grow 1.6X over the next ten years, and is likely to create an absolute $ opportunity of over US$ 340 Mn from 2021 to 2031. Surge in demand, due to the benefits of hydroxytyrosol, from the pharmaceutical and functional food industry is set to be observed across the country.

• Which players are prevalent in this landscape?

  Tier-1 players offering hydroxytyrosol hold around 70% global market share. Some of the prominent hydroxytyrosol manufacturers include Baoding Faithful Industry Co. ltd, BIONAP (Bioactive Natural Products), Carl Roth, Chengdu Biopurify Phytochemicals Ltd., Devson Impex Private Limited, DIECKMANN, Extrasynthese, Genosa I+D, Granatumplus, Hebei Huanhao Biotechnology Co. Ltd., Natac Group, Nutexa Ingredients, Nutrafur SA, Oliveda International Inc., Phenobio, Qenax, Shanxi Jinjin Chemical Co. Ltd, Shenyang Phytocare Ingredients, ShenZhen Dieckmann Bio-pharm Co. Ltd., and Wacker Chemie AG.

Report Also Addresses:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Hydroxytyrosol and How to Navigate
• Demand for Hydroxytyrosol Supplements
• Recommendation on Key Winning Strategies

Sales of Hydroxytyrosol in 2016 to 2020 Vs Projections for 2021 to 2031

From 2016 to 2020, the hydroxytyrosol market has experienced moderate expansion at 5.8% CAGR, with cosmetic and dietary supplement applications playing a crucial role in driving overall sales.

Hydroxytyrosol has been used in multiple applications as an antioxidant and anti-inflammatory agent in cosmetic products. Moreover, investments for the development of newer dietary supplements with hydroxytyrosol as an ingredient are on the rise.

The outbreak of COVID-19 resulted in squeezed demand for hydroxytyrosol across end-use industries such as dietary supplements and cosmetics. Consumer spending on non-essential products has been declining ever since the pandemic had begun, as people shifted to a work-from-home lifestyle.

Furthermore, imposition of lockdowns across regions impacted production and distribution activities. North America and Europe, being two prominent markets, are experiencing maximum downfall, as these regions have been largely affected by the outbreak.

Owing to these factors, demand over the long-term forecast period can be estimated as follows. Recovery growth is set to be observed during the short-term period as hydroxytyrosol businesses tend to recuperate from the losses generated over Q2 and Q3 of FY2020. However, demand normalization is set to be observed during the mid-term period when sales return to their normal growth rate. In the long-run, economic cycles and inflation rates are anticipated to affect demand and pricing.

What are the Primary Applications that Generate Demand for Hydroxytyrosol?

As of 2020, one-third of overall hydroxytyrosol was used in cosmetics as anti-ageing agents, skin lightning agents, and bleaching agents, due to hydroxytyrosol skin benefits. This is attributed to the fact that it offers superior antioxidant quality as compared to vitamin E and C.

Increasing consumer awareness regarding customised dietary products and supplements has piqued their interest in different parts of the world, positively impacting sales growth of hydroxytyrosol. Over the coming years, technological advancements and increased investments in the research & development of supplement products are expected to fuel demand for hydroxytyrosol.

Owing to the aforementioned factors, dietary supplement application is poised to expand at a high CAGR of more than 9% during the forecast period of 2021-2031.

Besides, according to UN estimates, global population is anticipated to reach 8.5 billion by 2030. This, coupled with growing GDP in developing countries, is expected to economically drive demand from millennials, which, in turn, would benefit market growth in the long run.

Country-wise Analysis

Why the U.S. is Dominating North America’s Market for Hydroxytyrosol?

The U.S. has remained the most prominent country for hydroxytyrosol, and is anticipated to account for above 86% of the North American market value, as of 2021. It is also anticipated to expand at a moderate CAGR of around 5% during the forecast period. This is because the U.S. remains one of the foremost contributors to the growth of the cosmetics and pharmaceuticals industry.

A large number of cosmetic manufacturing and pharmaceutical companies operate in the country. These companies cater to significant amount of demand for hydroxytyrosol for the production of various cosmetics. Key cosmetic firms positioned in the country are Gilette, Nivea, Estée Lauder, Clinique, and L'Oréal, driving demand for this phytochemical.

Furthermore, several pharmaceutical companies are on the hunt to innovate and bring something new to the table. This makes the U.S. one of the primary contributors when it comes to research spending.

Besides, U.S. women spend more on cosmetic products annually and account for around 20% of the global beauty market. This is also one of the prime reasons contributing to the growth of the beauty industry in the country. This anticipated to drive demand for hydroxytyrosol in the medium-term forecast period.

What Makes France a Prominent Market for Hydroxytyrosol in Europe?

France has been one of the prominent markets in Europe, and is poised to progress at a moderate CAGR of 6.5% during the forecast period. France has always been home to some of the world’s principal cosmetic manufacturers, which is why the term 'Made in France' is quite popular in the cosmetics industry, owing to the quality of cosmetics manufactured in the country.

Hydroxytyrosol has been gaining prominence in a multitude of cosmetic products owing to the anti-ageing benefit offered by it. Besides, cosmetic product demand from millennials is ever-increasing, and they have become even more beauty conscious. Thereby, cosmetic products that offer anti-ageing benefits has been the popular choice among the younger generation.

Category-wise Insights

Why are Dietary Complements Witnesses Notable Demand Growth?

Although dietary supplement application accounts for only 12% share of the market and a valuation of US$ 228 Mn in 2020, it is poised to expand at a high CAGR of more than 9% during the forecast period. This is because there has been substantial surge in the disposable income of people in recent years.

Besides, there is an EFSA-approved health claim related to high phenolic olive oils. This is related to oils that contain at least 5 gm of hydroxytyrosol and some of its derivatives, namely, tyrosol and oleuropein complex in 20 gm of oil. According to this, regularly consuming high phenolic olive oil protects blood lipids from oxidative stress. Reputed universities such as Harvard and a slew of other academic institutions around the world have embraced this concept and supported it with several studies over the past decade.

Furthermore, a shift towards healthier lifestyles with increased dependence on dietary supplements and nutraceuticals has driven the sales of hydroxytyrosol. Also, increasing geriatric population, particularly in regions such as Asia Pacific and MEA, is likely to support the growth of the dietary supplement market, and in turn, drive demand for hydroxytyrosol over the forecast period.

Which Source of Hydroxytyrosol Dominates the Market?

Virgin olive oil source has dominated the pie of the market for hydroxytyrosol, and accounted for almost 50% share of the global market, amounting to more than US$ 1 Bn in market value as of 2020.

As per the International Olive Council, countries produced nearly 3.2 million metric tons of olive oil in the 2019-2020 fiscal year. Out of this, IOC member countries consumed around 2.2 million metric tons or over 68% of total production.

Virgin olive oil contains the largest amount of hydroxytyrosol among all the source types, and has thereby remained the preferred source for hydroxytyrosol production.

On the back of the aforementioned factors, virgin olive oil has remained the prominent source for hydroxytyrosol, and this segment is anticipated to expand at a steady CAGR of more than 6% during the forecast period.

Competitive Landscape

Fact.MR has profiled the following top hydroxytyrosol suppliers in its report:

• Baoding Faithful Industry Co. ltd
• BIONAP (Bioactive Natural Products)
• Carl Roth
• Chengdu Biopurify Phytochemicals Ltd.
• Devson Impex Private Limited
• DIECKMANN
• Extrasynthese
• Genosa I+D
• Granatumplus
• Hebei Huanhao Biotechnology Co., Ltd.
• Natac Group
• Nutexa Ingredients
• Nutrafur SA
• Oliveda International, Inc.
• Phenobio
• Qenax
• Shanxi Jinjin Chemical Co. Ltd
• Shenyang Phytocare Ingredients
• ShenZhen Dieckmann Bio-pharm Co., Ltd.
• Wacker Chemie AG

The above-mentioned players primarily rely on a mix of organic and inorganic strategies for growth, such as product launches, long-term supply partnerships, and acquisitions, in order to increase their global reach and market share.

Report Scope

Key Market Segments Covered

• By Form

  • Powder Hydroxytyrosol
  • Liquid Hydroxytyrosol

• By Product Type

  • Natural Hydroxytyrosol
    • 95% Purity
    • 20% Purity
    • 10% Purity
  • Synthetic Hydroxytyrosol
    • 95% Purity
    • 20% Purity
    • 10% Purity

• By Source

  • Standard Olive Oil
  • Virgin Olive Oil
  • Catechol

• By Application

  • Application of Hydroxytyrosol in Pharmaceuticals
  • Application of Hydroxytyrosol in Nutraceuticals
  • Application of Hydroxytyrosol in Functional Food
  • Application of Hydroxytyrosol in Dietary Supplements
  • Application of Hydroxytyrosol in Cosmetics

• By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa