Taxifolin Market: Snapshot
Taxifolin or dihydroquercetin is a flavonoid that acts as a potential chemopreventive agent. It helps in the regulation of genes through an ARE-dependent mechanism. Primarily, taxifolin has the properties to slow down the cell growth of ovarian cancer. It can be found across many products and beverages. Particularly, taxifolin can be found across plant-based foods such as vegetables, wine, cocoa, and fruits. Conifers such as Siberian larch and Chinese yew are prime sources of extracting taxifolin.
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The global taxifolin market is primarily dominated by Europe. However, as per the recent trends, Asia Pacific segment is projected to experience a swift growth rate over the course of the given forecast period of 2018 to 2028. Majority of the manufacturers of taxifolin in the Asia Pacific are based in China. China is projected to show considerable growth potential and compete with Russia at a global level.
Some of the key reasons for the rise of the Chinese market is given below:
- One of the primary reasons behind the growth of the taxifolin market in China is because of the easy availability of the raw materials for the production of taxifolin.
- Increasing population coupled with rapid urbanization in the country has led to substantial growth in the demand for various food and pharmaceutical products along with advanced healthcare services.
- In recent years, China has also witnessed a huge growth in the number of people suffering from cancer. This has also led to high demand of taxifolin in the country.
Taxifolin Market Analysis: Anti-proliferative Effect on Cancer Cells Significantly Contributing to Global Demand
Bolstering nutraceuticals consumption has been a primary factor driving dihydroquercetin (taxifolin) demand, says research. While this is cited as a key booster for the growth of taxifolin market worldwide, increasing preference for taxifolin in fortification of food has also been spotted as a strong factor fueling revenue growth of taxifolin market in coming years.
Key Players Facing Pricing Challenges against Demand-supply Imbalance
A fairly competitive landscape, global taxifolin market is characterized by the severe demand-supply imbalance. This scenario is resulting in the high price point of taxifolin. Volatility of the raw material availability and prices is projected to play a crucial role in determining taxifolin prices. It is however expected that the demand-supply gap in taxifolin market would narrow down over the next few years, as a result of the entry of a growing number of producers in taxifolin market. To overcome the challenges posed by high demand-low supply scenario governing competitive landscape of the taxifolin market, a majority of manufacturers of taxifolin are focusing on expansion of production facilities to cater to higher demand. Moreover, key players in taxifolin market are concentrating on expansion of the customer base to achieve an edge over immediate competitors in taxifolin market.
Optimization of the operating costs through raw material procurement will reportedly remain another developmental strategy adopted by taxifolin market players, according to research. New entrants however continue to face the challenge imposed by stringent certification prerequisites and strict procurement process requirements set for manufacturing and processing of taxifolin.
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However, it has been observed that new market entry aspirants generally prefer Chinese taxifolin market owing to the cost benefit associated with raw material and labor. China has been one of the top performing taxifolin markets, and the demand is likely to remain concentrated in multiple application areas – including cosmetics. Moreover, improving scope of investment in less-toxic drug development is pushing the number of PPPs in the country, eventually boosting prospects of taxifolin market across China.
Some of the most prominent competitors operating in the competitive landscape of global taxifolin market include –
- Cayman Chemical
- W Health Products
- Ametis JSC
- Kingherbs Ltd
- Abcam plc
- Adooq Bioscience
- Kalenika Group
Taxifolin Gathering Traction in Food Fortification & Drug Development Applications
Besides healthcare and F&B, taxifolin finds wide applicability across several other domains such as agriculture, and personal care and cosmetics. The ability of taxifolin to stabilize shelf life of food and beverage products fuels its adoption in F&B applications. Whereas antimicrobial, anti-inflammatory, and antibacterial properties of taxifolin push consumption across healthcare industry. Being a natural antioxidant, taxifolin continues to witness extensive adoption by drug manufacturers as well. The most prominent application segments in F&B industry that are likely to contribute to the growth of taxifolin market include confectionary, alcoholic beverages, dairy, and meat processing.
Highest Adoption Potential Resides in Cancer Research
Increasing prevalence of cancers is one of the predominant factors boosting adoption of taxifolin in the medical industry. Apart from developed countries, developing economies have been witnessing rapid expansion of population with a type of cancer in recent years, which is a key factor accelerating the expansion of taxifolin market in emerging Asian and Middle Eastern countries.
As taxifolin is a proven potent inhibitor of the proliferation of ovarian cancer cells, taxifolin manufacturers are projected to discover lucrative consumption opportunities in the world of medicine, in coming years. Moreover, a few derivatives of taxifolin have been proven to hold an inhibitory effect on the growth of breast cancer cells. This is anticipated to be another strong factor pushing taxifolin consumption among cancer research institutes. With proven anti-proliferative effect on murine skin fibroblasts, taxifolin is expected to explore consumption opportunities across research centers in the near future.
Russia Remains the Production Hub for Taxifolin Market
In terms of production, Europe has been the top taxifolin producer, globally. Russian market especially holds a substantial share in the taxifolin landscape owing to widespread availability of a variety of conifers, which are the primary raw material for taxifolin production. Being a prominent cultivator of Siberian and Dahurian larch, Russia continues to remain at the forefront of taxifolin production, according to research.
Taxonomy: Global Taxifolin Market
By purity level, taxifolin market is divided into two key segments –
- 95% or above
- Below 95%
Based on application, global taxifolin market is classified into –
- Food and beverages
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