Resveratrol Market Overview
Resveratrol is a plant polyphenol. It’s a natural polyphenol synthesised out of pure plant products. It has a number of anti-inflammatory properties along with antioxidants that reduce the chances of any risks in body metabolism. It has a potential therapeutic use which can treat multiple cardiovascular diseases. The usage of this product has been known to reduce cholesterol levels. This has increased the demand for the product in the pharmaceutical industry. People are seen suffering from Alzheimer’s globally. The product’s anti-inflammatory properties not only help with the same but also is helpful in treating other diseases like cancer and diabetes.
The usage of Resveratrol as supplements, tablets and capsules has inclined the consumer interest towards the usage of the same. They are majorly used in nutraceuticals and pharmaceuticals industries, which has increased their demand in the market dynamics. There are several factors that drive the growth and development of the Resveratrol Market. The increasing demand for dietary supplements, being one of the major reasons for the growth, drives the market trends. The product is also known to reduce several health problems due to the presence of antioxidants. This has also provided the industry with lucrative opportunities. The market players thus get to play a part in the major collaborations and product launches of the industry. However, there have been certain factors that have restrained the market growth. There was a major disruption in the supply of raw materials during the pandemic. This hampered the import and export of the raw materials that the manufacturers were dependent upon. Also, the lack of clinical evidence regarding the therapeutic properties of Resveratrol impeded the market growth and development. There are constant cases where new compounds are being innovated using chemicals that have been successfully replacing polyphenol. These factors have majorly restrained the Resveratrol Market.
The Resveratrol Market demonstrated a market size of $71.9 billion in 2020. With a fixed and substantial annual market growth rate of 6.7% of CAGR, the market is again predicted to stand at a global market size of $141.5 million by the end of 2030. The forecast period of the market is predicted from 2022 to 2030. The market is expected to grow healthy and substantial growth in its forecast period.
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The Resveratrol Market is segmented into multiple fragments depending on the factors that affect the market trends. It is divided into product type and product form, and application.
By product type, the market is segmented into natural products and synthetic products. The market is again segmented into powder and liquid depending upon their different forms. By applications, the divisions are cosmetics and dietary supplements.
The market forecast has been done with respect to its domination around the globe. It is globally spread across Asia-Pacific areas like Japan, China, India, and South Korea. Germany, Italy, France, and the UK in Europe are also developing in the same field.
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Some of the major key players in the Resveratrol Market are Foodchem International Corporation, Haihang Industry Co., Ltd, Botaniex Inc., Sichuan Xieli Pharmaceutical Co. Ltd and Hubei Sanxin Biotechnology Co.
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