Increasing adoption of taxifolin in cancer research & other medical applications & rising global awareness regarding health and fitness and demand for cosmetics

VANCOUVER, BRITISH COLUMBIA, CANADA, June 5, 2024 /EINPresswire.com/ -- The global taxifolin market size was USD 168.5 Million in 2022 and is expected to register a rapid revenue CAGR of 5.4% during the forecast period. The global market for taxifolin, a powerful antioxidant and anti-inflammatory compound, is experiencing significant growth, driven by its increasing use in cancer research, healthcare, and the cosmetics industry. As awareness of health and fitness rises worldwide, the demand for taxifolin in various medical and personal care applications continues to expand.

What is Taxifolin?

Taxifolin, also known as dihydroquercetin, is a polyphenol with exceptional purity levels, ranging from 0.6% to 98%. This compound is utilized across numerous high-tech industries, including food and beverages, pharmaceuticals, healthcare, agriculture, and cosmetics, due to its versatile and beneficial properties.

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Market Drivers

Increasing Demand from Drug Manufacturers: The rising popularity of cancer research and the growing need for effective drug formulations have significantly boosted the demand for taxifolin. The market for medical applications of taxifolin is expected to grow substantially, with cancer research demand projected to rise from USD 163.4 billion in 2022 to approximately USD 389.41 billion by 2030.

Growth in Orders and Sales: Taxifolin's antioxidant and anti-inflammatory properties make it essential in producing effective dosages for various treatments. Manufacturers are witnessing a marked increase in orders and sales volumes. For instance, Hamrick Engineering has developed a cost-effective method for extracting taxifolin from larch wood chips, securing patents in the U.S., Canada, and Russia. This scalable technique is ideal for large-scale industrial applications.

Market Restraints

Despite its benefits, the taxifolin market faces challenges such as volatile costs and supply-demand imbalances. The complex production process and the presence of more affordable alternatives can hinder market growth.

Market Segmentation Insights

By Type:

Pharmaceutical Grade Dominance: In 2022, the pharmaceutical grade segment held the largest market share. Its effectiveness in reducing inflammation and its neuroprotective properties make it particularly valuable for treating conditions like arthritis, asthma, and cancer. The pharmaceutical grade also offers cost-effectiveness compared to other forms, driving its popularity.

By Purity Levels:

<95% Purity Segment Growth: Taxifolin with less than 95% purity is gaining traction due to its potential in preventing diseases like cancer. Its high antioxidant activity and bioavailability make it a preferred choice for manufacturers, ensuring precise control over the treatment process and high-quality output for various applications.

By Application:

Healthcare Segment Leadership: The healthcare sector is the largest market for taxifolin, thanks to its use in cancer prevention and skincare. Taxifolin's ability to protect against UV radiation, reduce wrinkles, and combat oxidative stress makes it indispensable in skincare products and treatments for cardiovascular diseases.

Future Outlook

The taxifolin market is poised for continued growth, driven by its expanding applications in medical and personal care fields. Leading manufacturers are investing heavily in research and development to create tailored products that meet specific needs, particularly in cancer treatment and skincare. The market's future looks promising as the demand for high-purity, effective, and versatile compounds like taxifolin continues to rise globally.

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Taxifolin Top Companies and Competitive Landscape

The global taxifolin market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective taxifolin.

Some of the major companies included in the global taxifolin market report are:

Linjiang Jianwei Biotech Co., Ltd.

Ametis JSC

Merck KGaA

Shanghai Jinhe

Hainan Yew Pharm

Hangzhou J&H Chemical Co., Ltd.

Adooq Bioscience

JW Health Products

Kingherbs Ltd.

Cayman Chemical

Hefei Lifeon Pharma

Kalenika Group

Tianbao Bio-Tech

Yunnan Hande

Abcam plc

LKT Labs

Blue California

Taxifolin Latest Industry Updates

On 25 May 2021, Blue California received a Generally Recognized as Safe (GRAS) designation from the U.S. Food and Drug Administration (FDA) for its Taxifolin BC-DHQ, which has super antioxidant and anti-inflammatory characteristics. This approval allows its incorporation into a diverse range of F&B. Dihydroquercetin (DHQ), or taxifolin, a flavonoid naturally occurring in various fruits and vegetables, such as apples, olive oil, and red onions, is the key component. Recognized for its potent antioxidant and anti-inflammatory attributes, taxifolin, as a flavonoid, may contribute to supporting immune health.

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Taxifolin Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global taxifolin market on the basis of type, purity level, application, and region:

Type Outlook (Revenue, USD Million; 2019-2032)

Food Grade

Industrial Grade

Pharmaceutical Grade

Purity Level Outlook (Revenue, USD Million; 2019-2032)

<95% Purity Level

>95% Purity Level

Application Outlook (Revenue, USD Million; 2019-2032)

Food & beverages (F&B)

Pharmaceuticals

Healthcare

Agriculture

Cosmetics

Others

Regional Outlook (Revenue, USD Million; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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