The inositol market is predicted to reach US$ 246.06 million in 2032 while growing at a CAGR of 6.4%. In 2022, the market is anticipated to be worth US$ 132.2 Million. The demand for complex Inositol systems is increasing as a result of medical advancements. Also, the market for inositol is expanding as a result of the market’s rising desire for organic and nutritious food items. The market showed a 6.5% growth rate between 2016 and 21.
Inositol occurs in different forms, but the most common form is the Myo-inositol. Besides, inositol is also used to enhance the growth of bacteria, and yeast often used food additives. It can also be used to manufacture dietary supplements, which can either be in powder form or capsules. The diversity in the application of inositol is a driving force that has fueled the growth of the market over the years.
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This is expected to continue during the forecast period and aftermath. Moreover, the rise in per capita income of consumers in developing nations and the growing population of unhealthy individuals is facilitating the growth of inositols in the Asia Pacific region.
Inositol Market Growth Driven by Increasing Consumers’ Demand for Healthy Products
The upswing in demand for healthy products has generated a surge in demand for healthy products. The rise in population size of people suffering from diseases like diabetes, insomnia, PCOS, and others caused by increasing consumption of junks, and unhealthy lifestyle, has generated an increase in demand for drugs and supplements with inositol.
Inositol has a variety of health benefits as it is a member of the vitamin B complex. Health practitioners often recommend consuming inositol containing products to patients with a mental disorder like depression, panic disorder, and others due to their ability to balance certain chemicals in the central nervous system.
Furthermore, the growing demand for inositol products among women suffering from diseases such as polycystic ovarian syndrome and cancer in developing and developed countries is a strong force anticipated to drive the growth of the inositol market globally. Also, consumers’ switch from unhealthy food products towards the consumption of healthy ones has created a surge in demand for food products containing inositol from the food and beverage industry.
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Inositol Market Restrain
The global inositol market is expected to receive a big blow that might cause a decrease in demand for its products due to the side effect it has on excessive consumption. High consumption of inositol or inositol products usually causes nausea, headaches, fatigue, dizziness, and mild gastrointestinal distress. All these health issues are significant factors projected to hamper the growth of the industry over the forecast period.
Inositol Market: Region-wise Analysis
North America is slated to dominate the global inositol market during the forecast period and aftermath. The rise in demand for healthy food products and the presence of key players within the countries located in North America are factors expected to facilitate the region’s dominance.
The Asia Pacific is projected to witness rapid growth due to the rise in government spending on healthcare and the growing pharmaceutical industry. Europe is expected to contribute significantly to the growth of the sector over the forecast period. Other regions will contribute moderately to the global inositol market over the foreseeable period.
Inositol Market: Competitive Landscape
- Dsm NV
- Charles Bowman & Company
- T.J. Clark & Company
- Shandong Runde Biotechnology Co
Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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