Hydroxytyrosol Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Global Hydroxytyrosol Market Analysis

The global hydroxytyrosol market is poised to embark on a positive growth trajectory, registering a CAGR of ~7% during the forecast period (2020-2030). With growing consumer interest in natural ingredients and products, demand for phenolic compounds derived from olive plant, such as hydroxytyrosol, has been moving on an upward swing.

Hydroxytyrosol is considered as one of the most powerful antioxidants offering numerous health benefits. As per ORAC (Oxygen Radical Absorbance Capacity) assay, hydroxytyrosol has been evaluated as one of the most potent antioxidants. With the efficacy to act as antioxidant, anti-inflammatory and functional agent, hydroxytyrosol has emerged as an ideal ingredient in a range of applications including cosmetic, pharmaceutical and nutraceutical.

Hydroxytyrosol Market: Application Insights

Attributed to exceptional antioxidant capacity over vitamin E and C, hydroxytyrosol has become the ingredient of choice among cosmetics and personal care product formulators. The use of hydroxytyrosol in cosmetics to reduce skin aging and as a bleaching agent or free radical scavenger accounted for two-thirds of the total consumption in 2019. While cosmetics emerge as key application area, manufacturers are focusing on identifying and leveraging new application potentials.

Growing application of hydroxytyrosol in dietary supplements, owing to its numerous health benefits, is expected to result in increased market share, registering a growth rate of ~9% during the forecast period. New application potential is also identified in functional foods and the meat industry.

Hydroxytyrosol Market: Regional Insights

North America remains at the forefront of the global hydroxytyrosol market, which accounted for nearly one-third of the total consumption in 2019. The growth is attributed to strong presence of leading cosmetic manufactures in the United States. The emergence of North America as one of the world’s largest pharmaceutical markets is expected to play an instrumental role in the hydroxytyrosol market growth in the region. Additionally,

increasing consumption of nutraceuticals and functional foods in the United States will assist the North America’s hydroxytyrosol market to maintain its dominance over other regions during the forecast period.

With increasing per capita expenditure and growing health awareness coupled with increasing consumption of functional foods in South Asian countries, manufacturers are eyeing lucrative opportunities in the region.. South Asia’s hydroxytyrosol market is projected to gain ~4% market share by the end of 2030.

To understand various dynamics influencing the regional markets for hydroxytyrosol, connect with an expert analyst

Hydroxytyrosol Market: Manufacturers’ Insights

The global hydroxytyrosol market is highly consolidated in nature where leading manufacturers currently account for over two-thirds of the global sales. Currently, Wacker Chemie AG, Koninklijke DSM N.V., and Lubrizol Corporationare are the key stakeholders in global hydroxytyrosol market. These industry giants are involved in numerous research & developments and have included natural hydroxytyrosol in their product offerings to align with the market trend. For instance, through a human clinical study, Wacker Chemie AG has published its research on hydroxytyrosol. The company concluded that hydroxytyrosol has positive effect on blood cholesterol.

DSM and WackerChemie AG offer natural hydroxytyrosol to sustain the growing demand for green products.  Similarly, Nutexa Ingredients offers bio-based products for its range of markets including cosmetics, nutraceuticals and food. Aforementioned strategies and R&D on hydroxytyrosol by prominent companies will uplift the market growth during the forecast period.

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COVID-19 Impact Analysis

The coronavirus outbreak has brought the world on its knees and forced people to stay in their homes which have affected production and demand for hydroxytyrosol across the globe. Fear of the coronavirus has forced countries to put a halt to import-export activities between borders. Sudden shutdown of industries and transportation has crippled the global economy in the last few months. As per the WHO and the UN stats, losses caused due to the coronavirus outbreak may take years to recover.

North America is the largest consumer of hydroxytyrosol and accounts for a major share of the global market. However, the regional market is expected to face a significant slowdown in revenue, as North America emerges as the most affected region by the coronavirus outbreak, accounting for over one third of the global confirmed cases with high number of fatalities. Worsening situation in the United States has negatively impacted the global hydroxytyrosol market and is poised to recover in the third quarter  with the ease of lockdowns. However, increasing number of COVID-19 cases and intensifying fear may change the upcoming scenario by the end of 2020.

The Analyst’s Viewpoint

“In the midst of the COVID-19 pandemic, consumers are delaying the purchase of products which are not deemed essential, including cosmetics, which in turn is causing the YoY growth rate of the global hydroxytyrosol market to decline by 3% by 2020-end. Despite a spike in sales of nutraceuticals and pharmaceuticals, the market will remain further affected by factory closures and supply chain disruptions.”

About the Report

Fact.MR published an exclusive forecast report on the hydroxytyrosol market for the period of 2020-2030. The foremost objective of the hydroxytyrosol market report is to pitch spearhead insights on market scenario, demand generators, and technological advancements in the hydroxytyrosol market. Also, the study on the hydroxytyrosol market addresses key dynamics, which are expected to diversify the sales and future prominence of the hydroxytyrosol market.

The hydroxytyrosol market report begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of the hydroxytyrosol market elaborating on the key segments. Also, the report outlines visionary insights on the hydroxytyrosol market dynamics including drivers, restraints, opportunities, trends and pricing analysis along with key buying factors for hydroxytyrosol. Supply chain analysis and pricing analysis of the hydroxytyrosol market have also been included in the report to help the readers clearly understand the product framework map in hydroxytyrosol market.