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Fisetin Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Fisetin Market
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According to The Business Research Company's, The fisetin market size has grown rapidly in recent years. It will grow from $2.95 billion in 2023 to $3.34 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to increasing awareness of antioxidants, rising demand for natural supplements, rising aging global population, increasing emphasis on preventive healthcare, and growing consumer interest in natural health supplements.
The fisetin market size is expected to see rapid growth in the next few years. It will grow to $5.53 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing awareness of health benefits, rising interest in natural and functional foods, expansion of the supplement industry, increasing prevalence of chronic diseases, and clinical trial activity and research partnerships. Major trends in the forecast period include nanotechnology, synthetic biology, formulation innovations, artificial intelligence (AI) and machine learning, advancement in analytical techniques, and product innovations.
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Market Drivers and Trends:
The increasing focus on wellness and health is expected to propel the growth of the fisetin market going forward. Wellness focuses on overall well-being through practices that enhance physical, mental, and emotional health, while health pertains to being free from illness or injury, supported by lifestyle and medical care. The increasing focus on wellness and health is due to healthcare advancements and a cultural emphasis on personal health and quality of life. Fisetin's diverse potential benefits make it a valuable compound for general health and wellness. Incorporating fisetin into functional beverages can add value by offering these possible health benefits by improving insulin sensitivity and glucose metabolism. For instance, in February 2023, according to Monster Beverage Corporation, a US-based beverage company that manufactures energy drinks, net sales for the company's monster energy drinks (Health and wellness product) segment increased 2.6% to $1.39 billion for the 2022 fourth quarter from $1.35 billion for the 2021 fourth quarter. Therefore, the increasing focus on wellness and health drives the fisetin market.
Major companies operating in the fisetin market are focused on innovative clinical trials for human trials for GlucoSober and BeFisetin ingredients to enhance the bioavailability and efficacy of fisetin in dietary supplements and functional foods. Human trials for GlucoSober and BeFisetin are scientific studies conducted on human volunteers to evaluate these compounds' safety, efficacy, and potential health benefits. These trials are crucial in moving these ingredients from preclinical studies (typically done in cells or animals) to potential therapeutic or supplementary use in humans. For instance, in August 2024, Bonerge Lifescience, a China-based company that offers various healthier ingredients, announced the initiation of clinical trials for its high-quality brand ingredients, including GlucoSober and BeFisetin. GlucoSober is Bonerge's proprietary ingredient designed to support healthy blood sugar levels. BeFisetin is Bonerge's branded fisetin extract, ranging from 50% to 99% purity, which is the first and only 99% pure fisetin. The company sources its raw materials from sustainable and eco-friendly sources, ensuring product safety is at the heart of its mission.
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Major Key Players of the Market:
Danaher Corporation, Sigma-Aldrich Co. LLC, Bio-Techne Corporation, Toronto Research Chemicals Inc., Cayman Chemical Company, Cayman Chemical Company, Selleck Chemicals LLC, Santa Cruz Biotechnology Inc., Stanford Chemicals Company, Conscientia Industrial Co. Ltd., AIDP Inc., Simagchem Corporation, Xi'an SR Bio-Engineering Co. Ltd., AdooQ BioScience LLC, Wilshire Technologies LLC, Meite Chemical Co. Ltd., Chengdu Biopurify Phytochemicals Ltd., Indofine Chemical Company Inc., Otto Chemie Pvt. Ltd., Hebei Lingding Biotechnology Co. Ltd.
Fisetin Market 2024 Key Insights:
• The fisetin market size is expected to see rapid growth in the next few years. It will grow to $5.53 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%.
• The Rising Demand For Wellness And Health Drives Growth In The Fisetin Market
• Bonerge Lifescience Innovation With Clinical Trials For BeFisetin And GlucoSober
• North America was the largest region in the fisetin market in 2023
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