Phytoestrogen Market By Type (Iso-flavone, Coumeston, Lignan), By Application (Nutritional Supplements, Cosmetics, Pharmaceuticals), By Region - Global Market Forecast 2020-2030
Global Phytoestrogen Market Overview
The global phytoestrogen market has witnessed a slow growth rate at a CAGR of 2.1% over the past half-decade, and is estimated to expand at a moderate pace in future, owing to the high consumption of phytoestrogen as a dietary supplement.
Moreover, attributed to the growing pharmaceutical industry, phytoestrogen is extensively being used in drug formulation, beneficial for the treatment of chronic diseases such as cancer, osteoporosis, rheumatism, etc. In addition, phytoestrogens are commercially used as raw materials in the formulation of cosmetics for anti-ageing, acne, and others. All in all, the aforementioned factors are projected to drive the expansion of the global phytoestrogen market size at a CAGR of more than 3% through 2030.
Phytoestrogen Market Insights by Type
Phytoestrogen is classified into three major types - isoflavone, coumeston, and lignan. Amongst these three types, isoflavone captures a majority of the demand mix of phytoestrogen compound, owing to its antioxidant nature. Followed by isoflavone, coumeston captures a little less than one-third of the phytoestrogen market share, due to its utilization in antimicrobial drugs.
Lignan captures a minute share of the phytoestrogen market, due to its limited application. Collective utilization of all these products in manufacturing nutraceutical and oncological drugs is set to bolster demand for phytoestrogen over the long-term forecast period.
Phytoestrogen Market Insights by Application
In the past half-decade, instances of phytoestrogen consumption has mostly been encountered in the nutraceutical industry to process nutraceutical drugs. Rising demand for nutraceutical drugs is set to assist the growth of the phytoestrogen market during the forecast period.
Moreover, phytoestrogen utilisation can be observed in manufacturing cosmetics, owing to its antioxidant properties. Increasing use of personal care products and cosmetic essentials is anticipated to increase demand for phytoestrogen.
Furthermore, trade of phytoestrogen can be observed in the pharmaceutical industry for manufacturing oncological and rheumatological drugs. Its increase in healthcare and personal care usage is set to strengthen the market in developed regions such as North America and Europe over the assessed forecast period.
Regional Outlook of Phytoestrogen Market
Europe is a dominating region that accounts for a major phytoestrogen market share among the prominent regions, owing to the positioning of key manufacturers in this region. From a demand perspective, Europe is the largest consumer of phytoestrogen-based products as compared to other regions.
Followed by Europe, North America captures around one-fifth of the market, owing to the high consumption of nutritional products in the region. The phytoestrogen markets in East Asia and South Asia & Oceania are set to grow at faster rates as compared to other regions. Latin America and the Middle East & Africa capture minute market shares due to the low prominence of phytoestrogen compounds.
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Phytoestrogen Market: Key Strategies of Players
The global phytoestrogen market is consolidated in nature. Key players in the phytoestrogen market are ADM, SK bioland, Doterra, Frutarom, Natures plus, Nutragreen Biotechnology, etc. To increase their footprints, firms have been adopting inorganic activities such as mergers and acquisitions. For instance, in 2019, ADM acquired Neovia, which is a leading manufacturer of animal nutrition products in France.
Additionally, key players are observed to escalate sales volumes through advanced distribution channels such as e-Commerce platforms, application stores, etc. Targeted e-Commerce strategies are set to open new avenues for manufacturers in the phytoestrogen market space.
COVID-19 Impact on Phytoestrogen Market
The COVID-19 pandemic has affected cosmetics and nutraceuticals production due to imposed lockdowns, creating disturbances in the demand-supply equilibrium. Plants have been shut down, declining sales volumes, and market operations have also faced serious repercussions. The coronavirus outbreak had caused a great decline in demand in the second quarter of FY2020.
However, the re-opening of production facilities and lifting of lockdowns would help in rebounding the phytoestrogen market, owing to application in the various industrial sectors. Furthermore, growing usage of nutritional food and supplements among the female population is anticipated to drive market growth. Utilisation of phytoestrogen compounds as drug and nutritional food applications is set to resume the growth of the phytoestrogen market at a moderate pace.
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The Analyst’s Viewpoint
“Use of phytoestrogen compounds in animal nutrition products is set to create long-term demand over the coming years.”
Phytoestrogen Market: About the Report
Fact.MR published an exclusive forecast report on the phytoestrogen market for 2020 and 2030. The foremost objective of this report on the phytoestrogen market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the phytoestrogen market. Also, the study on the phytoestrogen market addresses key dynamics that are expected to diversify the sales and future prominence of the phytoestrogen market.
The report on the phytoestrogen market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the phytoestrogen market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the phytoestrogen market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for phytoestrogen.
Supply chain analysis and pricing analysis of the phytoestrogen market along with the difference between phytoestrogen used as per application have also been included in the report, to help readers clearly understand the product framework map in the phytoestrogen market.
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Phytoestrogen Market: Segmentation
Fact.MR has studied the global phytoestrogen market with detailed segmentation on the basis of type, application, and region.
- Nutritional Supplements
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East and Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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