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Dihydroquercetin Market to witness healthy growth at a CAGR of more than 6% over the forecast period of 2020 to 2030 - States Fact.MR
Dihydroquercetin Market
Taxifolin, being a potent flavonoid, is immensely used to manufacture drugs for the treatment of inflammatory disease state in cancer.
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Demand from the pharmaceutical sector remained intact over the course of COVID -19-related lockdowns in Q1 and Q2 of FY2020.
Overall decline in the market was observed due reduction of beverage and food production to some extent.
However, reopening of trade channels across the globe is set to resurrect the market by Q3 of FY2020, with the market set to return to its original form by the end of FY2020.
The global taxifolin market is forecast to witness healthy growth at a CAGR of more than 6% over the forecast period of 2020-2030.
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Key Takeaways from Global Taxifolin Market Study
The global taxifolin market is anticipated to create a value opportunity of around US$ 1.3 Bn during the forecast period, adding 1.8X value by 2030 as compared to 2019.
Rising R&D activities and increasing efficacy of production are set to benefit the taxifolin market by the end of 2030.
Europe will account for more than 55% of the global taxifolin by the end of 2030 in terms of value.
The ≥95% purity segment is the most promising segment, and is projected to gain more than 5% share over the period of 2020-2030.
North America is set to hold a leading demand share by 2030 in terms of volume, and account for more than 1.6 tons of taxifolin demand to supply swiftly growing pharmaceutical manufacturing in the region.
North America and Mexico markets are set to grow at a moderate pace, together accounting for around 20% demand share, globally.
“Long-term thrust to the taxifolin market can be attributed to the rapidly growing oncology drugs market,” says a Fact.MR analyst.
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Consolidated Market to Push Threat of New Entrants to Lower Side
The taxifolin market is highly consolidated with key players such as Linjiang Jianwei Biotech Co. Ltd., Hangzhou J&H Chemical Co., Ltd., Kalenika Group, Cayman Chemical, Ametis JSC, JW Health Products, Kingherbs Ltd, Abcam plc, and Adooq Bioscience.
Though the market is highly consolidated, diminishing marginal returns discourages new entrants over expanding production above 60 Kgs per annum, which could strain their financials in the long run.
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