The global catechins market is expected to develop significantly, with a value of US$ 18.5 million in 2023. A CAGR of 5.9% is predicted to be maintained by year 2033. Such consistent growth estimates indicate that the worldwide catechins market is on pace to achieve an astounding valuation of US$ 31.9 million by 2033.
Key Market Trends and Highlights
- Growing awareness of the health benefits of catechin is driving consumer demand for products containing this compound. As people become more health conscious, they are actively seeking out catechin-rich foods and beverages to support their well-being.
- Functional foods and beverages, which offer health benefits beyond basic nutrition, are gaining popularity worldwide. Catechin, known for its health-promoting properties, is increasingly incorporated into these products, further fueling market growth.
- Favorable government policies and increased consumer spending on health-related products are contributing to the growth of the catechin market. Governments are recognizing the potential health benefits of catechin and offering support to the industry.
- While the catechin market shows significant potential, it also faces challenges due to stringent government regulations in the food and beverage industry. Such regulations can impede market growth and require manufacturers to meet specific quality and safety standards.
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This growth was primarily driven by the increasing awareness surrounding the extraction and utilization of catechins in various industries. Consumers and businesses alike have recognized the potential health advantages offered by catechin-rich products, propelling their demand.
The rise in health consciousness among consumers has significantly contributed to the popularity of catechin-infused products. With consumers becoming more proactive about adopting healthier dietary habits, catechin-rich foods, and beverages are anticipated to witness strong market growth in the years ahead.
- Key Takeaways from the Catechins Market Study:
Based on end-use application, nutraceuticals are expected to dominate at a market share of 56.8% by 2033. - Based on the source, the tea is likely to register a market share of 77% by 2033.
- The catechin market size expanded at 5.2% CAGR between 2018 and 2022.
- India is estimated to reach US$ 20.4 million and expand at a CAGR of 4.9% by 2033.
- Japan is anticipated to experience significant growth, with a current valuation of US$ 18 million and a projected value share of 3.2%.
“Functional foods and beverages are becoming increasingly popular among consumers as they help to prevent various illnesses and disease and is considered one of the key drivers of the catechin market”, says Nandini Roy Choudhury, Client Partner at Future Market Insights. .
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Competitive Landscape of Catechins Market:
The catechin industry consists of a consequential number of market players. Research and development are mainly used for the introduction of environment-friendly product lines from the core aspect of these manufacturers. In addition to this, other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.
Key Companies Profiled
Botaniex Inc.
Hunan Sunfull Bio-tech Co., Ltd.
Chengdu Wagott Bio-tech Co. Ltd.
Novanat Bioresource, Inc.
Hangzhou Qinyuan Natural Plant High-tech Co., Ltd.
Taiyo Green Power Wxee
Arjuna Natural Extracts Ltd.
BiosynthCarbosynth,
Cayman Chemical Company
INDOFINE Chemical Company Inc.
Some of the new developments are-
In April 2020, Botaniex, a prominent catechin manufacturer, innovated a decaffeination and extraction technique for catechin extraction, eliminating the need for ethyl acetate in the process.
In September 2022, the tea sector, driven by increasing consumer awareness of the myriad benefits associated with incorporating green tea catechins into their diets has emerged as the dominant player in the catechin market. It secures a significant market share.
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Catechins Market by Category:
By Type:
Epigallocatechin (EGC)
Epigallocatechin-3- Gallate (EGCG)
Others
By Source:
Tea
Fruits
Vegetables
Others
By End-Use Application:
Nutraceuticals
Beverages
Pharmaceuticals
Mouth Rinsing Agents
Other Applications
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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