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Ergothioneine Market Industry News, Applications and Trends
Ergothioneine Market - DataM intelligence
The Ergothioneine Market is expected to grow at a high CAGR of 5% during the forecast period (2022-2029).
Ergothioneine (EGT) is a sulfur-containing amino acid biosynthesized in fungus and bacteria, stored in plants, and consumed by humans. It is concentrated in oxidatively stressed tissues. Ergothioneine (EGT) is commonly obtained from fermentation and chemical synthesis. Ergothioneine (EGT) is used as a preservative in various food products and an antioxidant in various cosmetic formulations. It is also used in the preparation of various pharmaceuticals.
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Market Dynamics:
Increasing consumption of processed foods is expected to boost the demand for ergothioneine market:
Rising wages, higher disposable incomes, and adopting modern lifestyles have altered dietary preferences and increased global processed food consumption. Modern food production techniques and highly efficient local, regional and global logistical systems have ensured the ubiquitous availability of cheap processed foods.
Ergothioneine (EGT) is an important additive to maintain the quality and extend the shelf life of processed food. Ergothioneine is mainly used as a preservative in various ready-to-cook and ready-to-eat packaged meals. Ergothioneine (EGT) is a flavor enhancer in various processed food preparations such as soups, stews, salads, and sandwiches. During the forecast period, the growth in consumption of processed foods is expected to augment the growth of the global ergothioneine market.
Volatility in prices of raw materials is expected to restrain the global ergothioneine market:
Ergothioneine is generally sourced from cyanobacteria as well as fungi such as mushrooms. Since the raw materials are sourced from natural sources, the quality can vary widely depending upon the source. Various factors such as climate and soil conditions can affect the quality of the raw materials. Sometimes, drought conditions and abnormal weather events can destroy the fungi, reducing the supply of raw materials. During the forecast period, volatility in prices of raw materials is expected to be the major factor in restraining the growth of the global ergothioneine market.
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Market Segmentation:
By Type
• Chemical synthesis Method
• Fermentation Method
• Other
By Application
• Medical Industry
• Food Industry
• Cosmetics Industry
Major Companies:
Some key companies contributing to the growth of the global ergothioneine (EGT) market include Mironova Labs, Inc., Merck KGaA, Blue California, Aktin Chemicals Inc, Xi'an Saibang Biotechnology Co., Ltd, Bloomage Bioactive, Sinonocy, Total Nutraceutical Solutions, Inc., Jiangyin Healthway International Trade Co., Ltd and Taizhou Tianhong Biochemistry Technology Co., Ltd., among others.
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