Isoflavones Market Size By Source [Soy (Food & beverages, Nutraceuticals, Cosmetics), Chickpea (Food & beverages, Nutraceuticals, Cosmetics), Red Clover (Food & beverages, Nutraceuticals, Cosmetics)], & Forecast 2023 – 2032
Report ID: GMI3077
|
Published Date: March 2023
|
Report Format: PDF
Download Free PDF
Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2022
Companies covered: 13
Tables & Figures: 406
Countries covered: 23
Pages: 300
Download Free PDF
Isoflavones Market
Get a free sample of this report
Get a free sample of this report Isoflavones Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Isoflavones Market Size
Isoflavones Market size valued at USD 16.5 billion in 2022 and is projected to expand at over 5% CAGR from 2023 to 2032.
The rapidly growing health-conscious population, particularly across the North American region is expected to have a positive impact on the industry growth. In the recent past, a large portion of the Western populace has turned obese or overweight due to the rising acceptance of unhealthy dietary habits and lifestyle preferences. As per the State of Obesity 2022 report published by the Trust for America’s Health (TFAH) in September 2022, four in ten U.S. adults are obese. Obesity is a growing burden on the U.S. healthcare resulting in an estimated surge in spending by USD 170 billion. Hence, the rising focus on weight management and the growing emphasis on health and fitness is expected to prompt individuals to adopt healthier dietary lifestyles.
Isoflavones Market Trends
High risk of health complications, such as Kawasaki disease (KD) related to the long-term consumption of large amounts of soy products is expected to hamper the isoflavones market demand. Soy isoflavones can be difficult to digest and can cause constipation, diarrhea, and other digestive problems. Additionally, isoflavones are also considered for reacting with certain treatments for conditions such as cystic fibrosis, kidney stones, and hyperthyroidism. The compound is also known to have certain side effects on female reproductive health with abnormal tissue growth in the uterus, and poor development of the reproductive system in case of long-term exposure to isoflavone genistein.
Isoflavones Market Analysis
The isoflavones market share from nutraceutical applications segment surpassed USD 7 billion in 2022, attributed to the increasing consumer inclination toward health and wellness. Nutraceutical supplements have gained substantial momentum over the past few years as they offer a myriad of health benefits. They have proven to help prevent and treat illnesses associated with neurodegeneration, heart, and diseases caused due to oxidative stress. Nutraceuticals also have a promising impact on lifestyle disorders such as hypertension, cancer, and diabetes. Furthermore, several governments are launching innovative efforts to boost rural access to affordable nutraceuticals. For instance, in March 2022, the Indian government announced the provision of nutraceuticals across 8,000 government-operated medical retail stores to provide medications at 50% to 90% lower prices compared to branded medicines.
The soy isoflavones market will reach USD 26 billion by 2032. The emergence of new trends, such as vegan diets have propelled the consumer inclination toward the consumption of soy-based and plant protein ingredients. The growing awareness regarding the adverse impact of meat consumption has encouraged people to switch to plant-based proteins. Several manufacturers are thus ramping up efforts to boost the production of soy protein ingredients to address the growing consumer demand. For instance, in August 2022, Archer Daniels Midland (ADM) partnered with Benson Hill, a food tech company, to accelerate its ultra-high protein (UHP) soy portfolio while meeting the growing demand for plant-based protein in North America.
North America isoflavones market size is anticipated to record 4.8% CAGR through 2032. The region is expected to emerge as a lucrative hub for isoflavone producers with rapidly changing consumer preferences, the rising popularity of veganism, and the growing demand for plant-based proteins. Countries such as the U.S., and Canada have witnessed dramatic shift in consumer preference for plant-based dairy products from conventional dairy. Regional consumers are switching to dairy-free alternatives such as soy milk due to the rising prevalence of dairy allergies. Hence, this thriving demand has spurred soy production across the continent, offering lucrative scope for industry expansion. For instance, as per the Crop Production report released by the National Agricultural Statistics Service (NASS) of the USDA in August 2022, soybean growers set a 2% growth in production from 2021, estimated at 4.53 billion bushels.
Isoflavones Market Share
Some of the leading companies in the isoflavones market include:
These firms are focusing on innovations and R&D activities to strengthen their business footprint. For instance, in March 2023, ADM entered a joint venture agreement with Marel to establish an innovation center in the Netherlands with an aim of accelerating the need for alternative protein capabilities.
Impact of COVID-19 Pandemic
The COVID-19 pandemic introduced novel challenges and opportunities for isoflavone manufacturers. With the massive supply chain disruptions and imposition of lockdowns by several governments, isoflavone producers struggled to maintain their manufacturing output due to the temporary shutdown of facilities. However, the pandemic-driven shift in consumer preference for the consumption of dietary supplements and immunity boosters fostered lucrative scope for novel isoflavone-based products. Moreover, the increasing emphasis on preventative care and the rising number of health-conscious consumers complimented the industry outlook.
This isoflavones market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons and revenue in USD Million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
Market, By Source
The above information has been provided for the following regions and countries: