Isoflavones Market size is forecast to reach $1.5 billion by 2025, after growing at a CAGR of 4.5% during 2020-2025. Growth in this market is driven primarily by an increase in the incidence of chronic diseases, an increase in the prevalence of cancer, technological developments in the production of isoflavones, and an increasingly growing geriatric population. In addition, the increased use of red clover isoflavones in functional foods promotes bone health, enhances Cardiovascular health, treats inflammation of the skin, and treats respiratory infections that are expected to fuel market growth. However, strict regulatory requirements and unfavourable drug price control policies across countries are significant factors that are expected to limit the market growth.
Isoflavones Market Segment Analysis – By Source
The soy segment held the largest share in the isoflavones market in 2019. Prominent dietary sources of isoflavones include soya milk and plant-based alternatives. The intake of soy isoflavones as food additives or food supplements decreases the risk of breast cancer and cancer cell growth by reducing the process of cell mitosis, which increases the market for soya as a major source of isoflavones. It also prevents heart failure and bone problems and is used to regulate high blood pressure and cholesterol. It is also good for asthma, diabetes, and slowing down the progression of kidney disease. These products also have strong antioxidant properties that minimize ageing due to free radicals caused by UV rays and other environmental hazards. These products help to minimize redness in the skin, thereby reducing the occurrence of dark spots and influencing market growth.
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Isoflavones Market Segment Analysis – By Application
The pharmaceuticals segment held the largest share in the isoflavones market in 2019 and is growing at a CAGR of 4.7%, owing to the excellent therapeutic and functional properties of isoflavones. Isoflavones are used in the treatment of various diseases. It decreases the risk of breast cancer and also inhibits cancer cell growth by minimizing cell multiplication. They are also a key source of antioxidants that reduces cholesterol levels to protect the cardiovascular system and also reduces the risk of stroke and coronary heart disease. In addition, isoflavones induce bone formation and increase bone mass. These are also used in cosmetics for treating skin firming, wrinkles, protect sun damage and are also used as a moisturizing agent. The numerous health benefits of the isoflavones make it a popular raw material among these industries.
Isoflavones Market Segment Analysis – Geography
North America held the largest share in the isoflavones market up to 30%. Increasing cases of obesity in North America are increasing the emphasis on weight control strategies and attracting customers to safe and natural food items with natural ingredients, thereby boosting demand for isoflavones in the region. The region is one of the leading producers of soybeans, providing ample opportunities for the supply of raw materials. In addition, growing obesity is a major concern among the youth population in the region, which is increasing customer emphasis on weight control and healthier lifestyles, thereby promoting overall health and wellness. Obesity-related disorders include type 2 diabetes, stroke, hypertension, heart disease, and various forms of cancer that contribute to premature death. All of these factors are motivating customers to turn to healthier food & beverages, thus boosting the growth of the regional industry.
Isoflavones Market Drivers
Prevalence of menopausal issues
Women experience numerous problems in their menopause stages, such as hot flashes, insomnia and, in many cases, sexual dysfunction. Many women choose oestrogen-containing supplements that can dramatically raise the risk of blood clots, stroke, or breast or uterine cancer. As a result, oestrogen may not be a choice for many women, depending on their health and family health history. Women are currently prone to supplements with naturally therapeutic ingredients to treat their menopausal symptoms with less complications. In response to the evolving tastes of women, supplement manufacturers have switched to natural alternatives. They also started using soy isoflavones instead of oestrogen because it mimics the properties of the oestrogen and induces oestrogen effects that help to minimize menopausal symptoms such as hot flashes and exhaustion. Due to the growing problems of menopause and the tendency of women for supplements with natural alternatives, the demand for isoflavones from the nutraceutical industry is increasing.
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Isoflavones Market Challenges
Less efficiency compared to alternatives
Soy isoflavones can take several weeks or more to deliver their maximum benefit. For instance, as per Healthline Media (US), the 2015 analysis found that soya isoflavones take more than 13 weeks to achieve just half of their maximum impact. Traditional hormones such as oestrogen therapy, on the other hand, require about three weeks to demonstrate the same benefit. Possible adverse effects, such as heart attacks and strokes associated with traditional oestrogen therapy, are expected to enable pharmaceutical and nutraceutical manufacturers to opt for isoflavones extracted from natural resources. In addition, the prolonged use of these items for a long period of time can have side effects. These side effects include causing some food allergies in certain people, such as runny nose, itching, digestive and stomach pain, headache, bloating, cramping, migraine, and other stomach problems. Therefore, these factors are restraining market growth.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Isoflavones Market. In 2019, the market of Isoflavones Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Isoflavones market include Archer Daniels Midland, SK Bioland, Medisys Biotech Pvt. Ltd., Guzen Development, Fujicco Co., Ltd, Aushadhi Herbal, Tradichem S.L, Frutarom Ltd., Nutra Green Biotechnology Co., Ltd., and HerboNutra., among others.
In September 2019, the ‘Organic SoyLife Complex’ range of soy ingredients, rich in isoflavones, was launched by Frutarom.
ADM opened an innovation centre in Singapore in January 2018. This centre promotes the production and application of food, feed, industrial and energy products.
In 2018, Shanghai Freemen has expanded its reach by creating Shanghai Freemen Australia as its subsidiary.
In January 2018, Kemin Industries acquired Agri-Marketing Corp, a distributor of Kemin products in Canada. With this acquisition, Kemin expanded and built a new location in Quebec, Canada. The progress enabled the company to further expand its product range and increase its production capacity.
North America dominated the global market due to the presence of a large number of producers of processed goods. Europe is also growing as a potential market for the same, due to its numerous health benefits.
Isoflavones decrease the risk of breast cancer and also inhibits cancer cell growth by minimizing cell multiplication. They are also a key source of antioxidants that reduces cholesterol levels to protect the cardiovascular system and also reduces the risk of stroke and coronary heart disease. Therefore, owing to these benefits its demand is increasing.
The increased use of isoflavones in the cosmetics and food and beverage industries is also triggering the growth of the global demand for isoflavones.
However, side effects such as thyroid disorders, food allergies, migraine headaches and increased over-consumption heart rate are serving as a constraining factor in the growth of the global market for isoflavones.
The emergence of COVID 19 has increased consumer awareness about healthy diet and supplements. Thus, influencing isoflavones market growth.
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