- Its raw material is wood of Dahurian and Siberian larches that grow abundantly.
- Taxifolin is a better anticarcinogen which helps in increasing immunity in individuals.
- Taxifolin has the ability to enhance blood flow to muscles and myocardium, and increasingly is being used as an ingredient in sports supplements.
The global taxifolin market is estimated to value at around $100 million in 2018, and is expected to register a CAGR of 5.7%.
Taxifolin, also known as dihydroquercetin, is a flavanonol, and is a type of flavonoid, which is highly diversified and multi-substituted subgroup. It is a favorable natural antioxidant and can be found in conifers such as Larix sibirica, Siberian larch, Pinus roxburghii, Cedrus deodara and in the Chinese yew, Taxus chinensis var. mairei. Specifically, taxifolin is found in plant-based foods like fruit, vegetables, wine, tea, and cocoa. It is also found in silymarin extract from the milk thistle seeds, and in vinegars aged in cherry wood. The taxifolin has anti-microbial, antibacterial, antifungal, and anti-inflammatory properties.
Rising demand for taxifolin owing to its therapeutic properties such as anti-oxidative and even anticancer actions, coupled with increasing prevalence of cancer globally are factors expected to propel growth of the target market over the forecast period. Taxifolin can be used in food and cosmetic products instead of flavonoids, which are currently in use today, owing to minimal or no side effects, and is a better anticarcinogen which helps in increasing immunity in individuals.
Taxifolin is gaining traction in various emerging applications such as in sports nutrition, confectioneries, therapeutic dietary supplements, and pharmaceutical products. It is used to treat different diseases, in agriculture applications, as an ingredient in soft drinks and alcoholic beverage, personal care products etc., which is a major factor driving growth of the target market currently.
The global taxifolin market is segmented on the basis of type, application, and region/country.
On the basis of type segmentation, purity <95% segment is expected to contribute major revenue share and is estimated to maintain its dominance over the forecast period. This dominance is attributed to the rising demand in food and cosmetics applications. The purity ≥95% segment is estimated to register highest CAGR of over 5.5% during the forecast period, owing to rising demand in medical applications.
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The medicine segment is estimated to contribute significant revenue share of the market over the forecast period, followed by healthcare products segment. The medicine segment is projected to register highest CAGR over 5.5%, during the forecast period, as taxifolin has ability to enhance blood flow to muscles and myocardium, and increasingly being used as an ingredient in sports supplements and other such products, and demand for these products are increasing significantly owing to rising awareness regarding health and wellness among younger individuals.
The China market is projected to register highest CAGR of over 6% in the global taxifolin market over the forecast period. Rising demand for taxifolin from various end-use industries, especially the pharmaceutical industry, is driving growth of the China market currently, and the trend is expected to continue over the forecast period. Moreover, increasing investment by public and private sectors boosting discovery and development of drugs that have less toxic effects is another factor expected to drive growth of the China market over the forecast period. Government initiatives for boosting domestic production of drugs that are affordable and effective, and which can primarily reduce imports are other factors expected to support growth of market in China.
Some prominent key players in the global taxifolin market include Linjiang Jianwei Biotech Co., Ltd., KINGHERBS Limited, JW Health Products Inc., KALENIKA Group, Ametis JSC, and Merck KGaA.