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Global Soy Isoflavones Market size is estimated to reach $436.9 million by 2027, growing at a CAGR of 4.7% during the forecast period 2022-2027. Isoflavones are commonly delineated as phytostrogens as they are derived from plants and fall under the category of polyphenolic compounds and share estrogen-like structure and effect. Soy isoflavones are mined from bark, leaves, and other parts of the plant. Besides soybeans, other legumes crops such as peanuts, chickpeas, and red clover are rich sources of these polyphenolic compounds. Glycosides like genistin, glycitin, and daidzein are present in soybeans that make it of utmost importance in the prevention of many cardiovascular complications, osteoporosis, and hormone-dependent cancer. Over the year, clinical studies have proven that augmented consumption of such phytoestrogens supports the alteration of endogenous estrogen into protective 2-hydroxylated estrogens extends its helping hand in dropping breast proliferation stimulants, thereby, eventually, reducing the risks of breast cancer prevalence in women. The global soy isoflavones market outlook is fairly impressive and is attributable to budding usage of isoflavones in dietary supplements pertaining to the antimicrobial and anticancer properties of isoflavones. Accruing prevalence of cancer, gastrointestinal infections, bone illnesses such as osteoporosis, diabetes, and cognitive impairment are factors set to drive the growth of the Global Soy Isoflavones Industry for the period 2022-2027.
Global Soy Isoflavones Market Segment Analysis-By Application
The Global Soy Isoflavones Market based on the application type can be further segmented into pharmaceuticals, food and beverages, nutraceuticals. The pharmaceuticals segment held the largest share in 2021. The growth is owing to the widescale use of soy isoflavones in the fabrication of medications. Soy isoflavones have been proven beneficial in menopausal symptoms which come from progesterone and estrogen changes. On another hand, the antioxidants, anti-inflammatory, and anti-cancer properties of such polyphenolic compounds have drawn the eyes of the pharmaceutical industry toward them. The intake of the prescribed dosage of isoflavones helps lower bad cholesterol levels, muscle soreness, and cancer complications. Moreover, it too condenses the blood sugar levels in patients afflicted with diabetes. Therefore, shooting up usage of isoflavones in manufacturing drugs has provided a growth platform for the segment. Nevertheless, the pharmaceutical segment is estimated to be the fastest-growing segment with a CAGR of 4.9% over the forecast period 2022-2027. This growth is owing to the heightening intake of protein powders especially among millennials. The trend of dietary supplements’ consumption has escalated in recent years to fulfill the nutrient requirement. Such supplements help in tissue repairment, enzyme production, and strengthening the muscles. Also, rising aesthetic awareness is adding its fair contribution to the growth of the pharmaceutical segment.
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Global Soy Isoflavones Market Segment Analysis-By Distribution Channel
The Global Soy Isoflavones Market based on distribution channels can be further segmented into offline platforms and online platforms. The offline segment held the largest share in 2021. The growth is owing to the across-the-board presence of offline segments such as retail pharmacies. With rapid modernization, a dramatic swing in attitudes of people from treatments to preclusion can be observed. Consequently, broadening health alertness among people is reassuring them to undertake all essential measures far in advance. Nevertheless, the online segment is estimated to be the fastest-growing segment with a CAGR of 5.7% over the forecast period 2022-2027. This growth is owing to digitalization and ameliorating online platforms, allowing more players to become a part of the market. On another hand, eventful lives of people encourage them to make online purchases as it extends additional conveniences and saves overall time. Better internet connectivity has its equitable share in connecting rural areas to cities. As a result, the overall magnitude of the tech-friendly population is rising worldwide. As of 2021, China had 953.9 million smartphone users, whereas, India grabbed the second spot with 492 million users. Therefore, considering the relentless pace of urbanization, these numbers are likely to outperform their prior shelves in upcoming years.
Global Soy Isoflavones Market Segment Analysis-By Geography
The Global Soy Isoflavones Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The Asia-pacific segment held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as the existence of the biggest soybean consumers such as China, India, Bangladesh, and others. China was the leading consumer of soya oil in 2021 with more than 18,000 metric tonnes of consumption, whereas, India and Bangladesh collectively consumed over 6500 metric tonnes. On another hand, if we talk about production China holds 4th position worldwide in the production of (genetic modification) GM-free soya. Besides, a larger chunk of the Chinese and Japanese population is turning old and consequently heightening the demand for soy isoflavones owing to their health benefits. In 2021, 30%of the total Japanese population and more than 18% were old. The number is expected to rise in the upcoming future. Moreover, the Asia-pacific segment is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to improving farming techniques and broadening of the disposable income of people.
Global Soy Isoflavones Market Drivers
Rising Cancer prevalence is Anticipated to Boost Product Demand
The widespread prevalence of cancer is a major driver for the aforementioned market. According to a Word health Organization report, after heart problems, cancer is the biggest reason for deaths around the globe. Last year it claimed more than 10 million lives. According to a study, around 12-13% of women in the U.S grow breast cancer complications in their lifetime. Similarly, more than 280,000 new cases are expected to be identified this year in the U.S. Besides cancer, osteoporosis cases are surging pertaining to the rising number of geriatrics. More than 200 million people worldwide are suffering from bone hitches. All these aforementioned factors are casting votes in favour of the global soy isoflavones market as soy has properties to avert the prevalence of complications.
Upsurging health awareness and the use of contemporary techniques in pharmaceutical production are Expected to Boost Product Demand
Proliferating consciousness among people is providing a sound opportunity for the growth of the market. As life-threatening health maladies are reducing the overall lifespan and quality of life, people are making more rational and wise choices such as proper exercise, healthy ingestion habits, and proper nutrient intake. The fitness industry and supplements have an inextricable connection as the majority of gym members tend to consume dietary supplements to fulfill the requirement of nutrition. According to the IHRSA report, around 2.36% of the global population had a gym membership in 2021. As the number is rising steadily so is the growth in the soy isoflavones market. On another hand, the use of contemporary techniques like nanotechnology in the fabrication of active pharmaceutical ingredients has a decent amount in the growth of the market.
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Global Soy Isoflavones Market Challenges
Environmental problems, side effects connected with overuse, and hampered manufacturing globally are Anticipated to Hamper Market Growth
Hackneyed use of soy isoflavones may set health complications like constipation, queasiness, swelling, itching, rashes, breathing difficulties in motion. On another hand, climate change, and environmental compilation like widespread drought, floods, and disrupted duration of seasons can impact the yield adversely. Also, the soil is losing its richness and fertility owing to the heightened use of pesticides and other chemicals. Moreover, stalled manufacturing processes owing to the reimposition of lockdowns are posing another challenge in Infront of the global soy isoflavones market.
Global Soy Isoflavones Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Soy Isoflavones top 10 companies include:
SK Bioland Co.
On November 2, 2021, US-based natural ingredient and botanical extracts company, “Nexira” announced the successful acquisition of Eschenz, Switzerland-based natural-food and premium ingredient manufacturing firm “Unipektin.” The financials of the deal were not disclosed. However, the acquisition strengthened the food and nutrition portfolio of Nexira.
On August 9, 2021, two food companies have signed an agreement to acquire the US-based company “Sanderson farms.” The first company is Minnesota-based “Cargill, Inc.” and the second firm “Continental Grain Company” is based in Belgium. Both firms agreed to pay an amount of $4.53 billion collectively to Sanderson in order to complete the acquisition process. Every existing shareholder of Sanderson receive $203 for every single share they were holding.
On October 2, 2020, Heerlen, Netherland-based “Royal DSM”, a company which is famous for its nutrition and personal care products, publicized that it has acquired the “Erber Group.” The total value of these transactions stands around 980 million euros. Moreover, under the transaction, DSM gets access to Bomin and Romer labs of the Erber group.
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Geographically, the Asia-Pacific Soy Isoflavones Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027.
Expanding disposable income levels and mounting health cognizance among people is said to be preeminent driver driving the growth of the Global Soy Isoflavones Market. Unfavorable climate conditions owing to environmental challenges, adverse effects of overusing soya, and vulnerable manufacturing activities are said to reduce the market growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Soy Isoflavones Market report.
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