Rising pharmaceutical applications boost the Global Soy Isoflavone Market
Market overview:
The Soy Isoflavones Market was estimated at USD xx.xx million in 2019 and is anticipated to reach an extent of USD xx.xx million, recording a notable CAGR throughout the conjecture period (2020-2025). Isoflavones are a type of organic compound that are mainly found in various types of beans. Soy products are very rich sources of isoflavones, which are called phytoestrogens and they work in a similar way to the female hormone estrogen. This property of soy isoflavones makes it an active ingredient in many women's health products.
Recent developments:
In 2019, Frutarom launched a new line of organic soy isoflavones. Frutarom Health has launched Organic SoyLife Complex, a new line of products made with organic soy ingredients.
Market Drivers and Restrains:
The market for soy isoflavones is based on the specific functional properties of isoflavones, such as their estrogen-mimicking nature, as well as the growing demand for organic and natural ingredients. Despite the constant nature of these factors, the market for soy isoflavones is fluctuating in nature. Demand has increased in recent years due to renewed interest in soy products. The main driver of the global soy isoflavone market is the rising call from postmenstrual women. This claim is based on the fact that women of this age face a drastic reduction in estrogen resulting in various problems such as hot flashes, night sweats, and weight gain. Reduced levels of estrogen could also lead to serious conditions like heart disease and osteoporosis. Unlike procedures such as hormone replacement therapy, soy isoflavones are safer and pose minimal risk to the consumer's health. The price of soybeans is a major barrier to the market in many regions. The lack of consumer awareness of the beneficial properties of soy components is also a major disadvantage for the market.
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Market Segmentation:
According to the source, the market is segmented into soybeans, red clover and others. Soybeans are expected to dominate the market during the forecast period due to increasing consumption of soy isoflavones as dietary supplements, reducing the risk of breast cancer and cancer cell growth by slowing the process cell mitosis.
On the basis of application, the market is segmented into pharmaceuticals, nutraceuticals, cosmetics, and food and beverage. The pharmaceutical segment is likely to grow at a higher CAGR during the outlook period due to its therapeutic and functional properties. Soy Isoflavones are used mainly in the treatment of chronic and cardiovascular diseases. In addition to this, the cosmetics segment is expected to dominate the market during the forecast period. The increasing application of cosmetics as antioxidants in skin and hair care products is accelerating the growth of the segment.
Geographical Segmentation:
With North America dominated by Canada, Mexico and the United States, the market demand for Soy Isoflavones may experience growth of more than 13% by the end of 2025. The region is a major soybean producer, creating many opportunities for the supply of raw materials. Additionally, growing obesity is a major concern among the young population in the region, increasing consumer interest in weight control and a healthy lifestyle, thus promoting health and well-being in the region. The demand for Soy Isoflavones in the European market, led by Germany, the United Kingdom and France, was valued at more than USD 3 billion in 2018. The growing demand for protein supplements in Germany and Italy, which improves health and well-being without risks or potential side effects. The size of the Asia-Pacific Soy Isoflavones market, driven by India, Japan and China, could exceed $ 8.5 billion by the end of the forecast period. The growth of the nutraceutical industry, primarily in China, India, Australia, and Japan, due to increasing consumer awareness of weight loss and calorie reduction, may drive growth in the industry.
Key market players:
Some of the major market players include Frutarom Health (SoyLife), Archer Daniels Midland Company (ADM), Koninklijke DSM NV (DSM), SunOpta Inc., BASF SE, Cargill Inc., Novogen Limited, EI du Pont de Nemours and Entreprise, etc.
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Scope of the report:
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