Usage of herbal alternatives is increasing due to the shift towards environment-friendly organic products. Market players are observed to utilise herbal plant extracts in the form of medications. For example, key players such as Herbo Nutra utilise alfalfa plant extract in pharmaceutical medications. These medication are used for the treatment of multiple diseases such as anxiety and depression, and to maintain nutritional health, besides others. Therapeutic properties of phytoestrogen and rising cases of chronic diseases such as cancer are projected to drive the growth of the phytoestrogen market, which is projected to expand at a CAGR of above 3% through 2030.
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Key Takeaways from Phytoestrogen Market Study
- The global phytoestrogen market is anticipated to create an absolute opportunity of US$ worth more than 1.5 Bn over the forecast period.
- Growing herbal alternatives and new product launches are set to uplift the phytoestrogen market by the end of 2030.
- On the basis of type, isoflavone is expected to surpass a valuation of US$ 2.3 Bn by 2030-end.
- Pharmaceutical applications are set to grow by 10 BPS over the forecast period.
- The East Asia phytoestrogen market dominates as far as production capacity is concerned, and accounts for more than 27% of the global phytoestrogen market share.
- Rising cases of chronic diseases across North America is projected to aid market expansion, which is expected to surpass a valuation of US$ 1.7 Bn by 2030.
- The COVID-19 pandemic is led to decreased demand for phytoestrogen from most end-use industries, due to sluggish production activities. The phytoestrogen market is set to regain its original growth pace in 2021.
“Up-gradations in animal nutrition products to generate long-term business opportunities for players in the phytoestrogen market space,” says a Fact.MR analyst.
Titans Investing in Research & Development to Enhance their Long-term Presence
The phytoestrogen market space is consolidated in nature, and market players are delivering products with broadened portfolios. Key players in the phytoestrogen market are ADM, Source Naturals, Natures Plus, Doterra, Frutarom Ltd., Nutragreen Biotechnology, Herbo Nutra, SKbioland, Zellbio gmbh, etc. These players are involved in research & development to gain an upper hand in the dynamic phytoestrogen market. This attracts new entrants in the industry; however, the bar is quite high for new firms to step in, keeping the market consolidated over the long-term forecast.
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.
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