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The Global Demand of Hydroxytyrosol Market, Growth Analysis, Latest Trends and Forecast till 2030
Hydroxytyrosol Market
Attributed to multi-functionality quotient, hydroxytyrosol is used in numerous applications including cosmetics, pharmaceuticals and nutraceuticals.
Increasing use of hydroxytyrosol in pharmaceutical products to reduce cholesterol levels is poised to fuel the market growth during the forecast period (2020-2030).
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The scenario is projected to continue as the European Food Safety Authority highlighted that the usage of 5 mg of hydroxytyrosol and its derivatives improves cardiovascular health.
Key Takeaways of the Hydroxytyrosol Market Study:
Powdered form of hydroxytyrosol is projected to remain the top-selling category and surpass valuation of US$ 2.5 Bn by 2030.
20% pure hydroxytyrosol is poised to remain highly preferred among end users and consumers, accounting for over two-thirds of the global consumption.
Significant momentum towards environment friendly products will bolster the demand for olive leaf based hydroxytyrosol, which is expect to grow at a CAGR of ~8% during the forecast period.
Cosmetics emerged as the largest application area of hydroxytyrosol in 2019. However, it is set to lose a market share of 4% by 2030.
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North America has been identified as a highly lucrative market and is set to create absolute $ opportunity worth US$ 432 Mn during the forecast period.
“With the efficacy to act as a functional ingredient in meat processing industry, hydroxytyrosol is set to replace traditional synthetic additives such as sulphites, BHT (butylated hydroxytoluene) and BHA (butylated hydroxyanisole),” says the Fact.MR analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has affected the global economy in several ways. Demand for various products across several industrial verticals has fallen, directly impacting production. Supply chains have been disrupted, causing a gap in the demand-supply equation.
A significant market crunch is anticipated for the cosmetics and pharmaceutical industries, attributed to shortfalls in the macroeconomic factors such as buying power, demand contraction, and others. Subsequently, the impact has been evident in the hydroxytyrosol market.
As demand is set to gain pace with the resumption of operations in the cosmetic and pharmaceutical industries, the hydroxytyrosol market is anticipated to rebound post two quarters of the market reopening.
Market Titans to Maintain Their Duopoly in Global Hydroxytyrosol Market
Hydroxytyrosol market is highly consolidated market in which two players named Wacker Chemie AG and DSM enjoy their duopoly in the market, accounting for over two-thirds of the global sales in 2019. The scenario is projected to continue, owing to inline investments in research & development and acquisition by these two market leaders.
For instance, Wacker Chemie AG has conducted a human clinical study and concluded that hydroxytyrosol has positive effect on the blood cholesterol which helps reduce the risk of heart diseases by 8%. In 2019, DSM acquired AVA, a personalized nutrition platform which will strengthen the company’s position in personalized nutrition sphere.
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More Valuable Insights on Hydroxytyrosol Market
Fact.MR, in its new offering, presents an unbiased analysis of the global hydroxytyrosol market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030.
The study divulges essential insights on the hydroxytyrosol market on the basis of source (OMWW & OMW (liquid), olive pomace (oil processing) and olive leaf), purity (> 95%, 20% and 10%), form (powder and liquid) and application (cosmetics, dietary supplements, functional food, and nutraceutical) across six major regions.
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