Surge in production levels of taxifolin, though, demand-supply gap exists
Taxifolin production has been increasing per year, though the demand-supply gap exists. It is owing to the skyrocketing demand of taxifolin across several applications including food and beverages, healthcare, cosmetics and agriculture. Europe stands as the largest taxifolin market, followed by North America. However, the taxifolin market is projected to grow at the fastest pace in APEJ region, owing to the fast paced population growth that have requirement of these applications.
APEJ is projected to grow at the fastest pace in the Taxifolin market
Although Europe is the largest taxifolin market, APEJ is anticipated to witness fastest growth during the forecast period. Most of the taxifolin manufacturers are located in Russia and China. It is due to the easy availability of raw materials in these countries. Conifers such as Siberian larch can be commonly found in these countries, thus making them the production hub of taxifolin. Russian government has also been investing in the production of taxifolin, especially in the Magadan region.
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Growing population as well as urbanization in China has led to the surge in demand for food, pharmaceutical products and advanced health solutions. In 2017, there were over 288 million people in China suffered from cancer, which has significantly increased in the recent past. This has translated into the growing demand for taxifolin in these sectors in China. India is another country where the population has been growing at an abrupt pace, thus generating higher demand for food and beverages, healthcare and other basic commodities.
Owing to the concentration of taxifolin manufacturers to a few countries, most of the market is trade based. Also, due to limited number of suppliers, the taxifolin market demand is not being entirely fulfilled, and whatever volume is produced is consumed every year. However, the lucrativeness of this market is encouraging several new entrants to enter the taxifolin market. Though this has increased the incremental taxifolin production each year, however, the increasing demand has been further making it difficult to meet the requirement.
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Increasing applications of Taxifolin increases its market value
The availability of several research papers that claim taxifolin as a potent ingredient across several applications, have boosted its demand. The antibacterial, antimicrobial, and anti-inflammatory properties of taxifolin has been augmenting its demand across several application areas including food and beverages, healthcare, and agriculture. The smallest volume of taxifolin produces significant effect as it helps in combating oxidative stress and protects the body from free radicals.
Food and beverages and healthcare are the two key application areas of taxifolin, which together generates over 60% of the total demand. In food and beverages sector, the taxifolin demand has been increasing significantly in dairy products, alcoholic and non-alcoholic beverages, meat processing, and confectionary.
Taxifolin market featured by low intensity of competition
There are moderate number of players operating in the taxifolin market, though the competition remains low. The taxifolin manufacturers have also been targeting to increase the number of their customers. Raw materials costs features as the larger part of the operating costs in the taxifolin market. Another important area of investment in the taxifolin market includes research and development activities. One of the key hurdles for the new entrants in the taxifolin market is obtaining certification for manufacturing. There are several unorganized manufacturers of taxifolin that offer sub-standard product. This to some extent has eroded the trust of several customers.
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In the U.S. market, Taxifolin with Generally Recognized as Safe (GRAS) certification holds high importance. Some of the leading players in the taxifolin market have acquired patented technologies that they highlight as their unique selling proposition. The taxifolin manufacturers also focus on reducing the manufacturing lead time with the help of latest technologies.
Table of Contents Covered in the report are:
1. Global Taxifolin Market – Executive Summary
1.1 Summary of Key Findings
1.2 Summary of Statistics
1.3 Global Taxifolin Market – Industry Structure
1.4 Taxifolin Market Attractiveness Across Key Applications, 2017
1.5 Mega Trends – Impact Analysis
1.6 Opportunity Assessment
1.7 Market Share Footprint of Key Taxifolin Product Type, By Region
2. Global Taxifolin Market Introduction
2.1.1 Global Taxifolin Market Taxonomy
2.1.2 Global Taxifolin Market Definition
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3. Global Taxifolin Market-Key Associated Factors Assessment
3.1 World GDP per Capita by Key Countries, 2017
3.2 Macro-economic Indicators Assessment
3.2.1 North America
3.2.3 Asia Pacific
3.2.4 South Asia
3.2.6 Middle East
3.2.7 Latin America
3.2.8 Sub-Saharan Africa
3.3 Key Decision Support Analysis
3.3.1 Taxifolin Market – Forecast Factors Assessment
3.3.2 Investment Feasibility Matrix
3.3.3 Porter’s Five Forces Analysis
3.3.4 PESTE Analysis
3.3.5 Value Chain Analysis
c3.3.6 Taxifolin Cost Structure
c3.3.7 Pricing Analysis
126.96.36.199 Taxifolin Pricing, by Product Type
188.8.131.52 Taxifolin Pricing, by Region
3.3.8 List of Key Taxifolin Customers
4. Market Dynamics
4.1 Market Drivers
4.2 Restraining Factors
4.3 Window of Opportunity
4.4 Scenario Forecast
5. Global Taxifolin Market – Demand Supply Outlook
5.1 Production Capacity Analysis
5.2 Consumption Trends
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Mr. Shambhu Nath Jha is a seasoned consultant and researcher. His research papers have been published in reputed websites and trade journals. His interests include philosophy and history.