According to a new report published by Allied Market Research, titled, “Catechin Market by Source, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global catechin market size was valued at $14,825.2 thousand in 2020, and is projected to reach $21,099.9 thousand by 2030, registering a CAGR of 3.8% from 2021 to 2030.
Catechin is a flavonoid-related organic compound. The most common sources are tea leaves, broad beans, apricots, black grapes, strawberries, cherries, and berries. They are widely used in the cosmetics industry to manufacture skin and hair care products. They are commonly used in the pharmaceutical industry to treat a wide range of diseases.
The primary drivers of growth in this market are an increase in the prevalence of chronic diseases, rise in the prevalence of cancer, technological advancements in catechin manufacturing, and a rapid growth in geriatric population. On the other hand, lack of consumer awareness about the benefits of catechin products is a significant factor that is expected to limit market growth to some extent.
The catechin market is segmented on the basis of source, type, application, and region. On the basis of source, it is categorized into tea, fruits, and others. According to type, the catechin market is fragmented into Epigallocatechin (EGC), Epigallocatechin-3- Gallate (EGCG), and others. As per application, it is divided into pharmaceuticals, food & beverages, dietary supplements, and others. Region-wise, the catechin market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By source, the tea segment was the highest revenue contributor in 2020, as green tea is a prominent dietary source of catechin. By application, the pharmaceutical segment held the largest market share in 2020. It is used in the treatment of chronic and cardiovascular diseases, so the pharmaceuticals segment accounted for the largest catechin market share.
Asia-Pacific and North America are expected to drive market growth in the coming years. Rise in disposable income and surge in demand for dietary supplements are expected to be the primary drivers of market growth in these regions. Catechin applications in food and beverages, as well as pharmaceuticals, are major contributors to the catechin market.
The catechin industry's Porter's five forces analysis highlights market competition in terms of the power of buyers, suppliers, manufacturers, and new entrants. Furthermore, rise in consumer awareness of catechin products, as well as an increase in the number of studies investigating catechin's benefits in a variety of health-related issues has resulted in the launch of new products and the entry of new players.
The increased catechin market demand has resulted in surge in investment on R&D to investigate new applications for the compound. However, government regulations in some countries, such as Europe, are threatening the growth of the catechin market. Catechin-related health claims are subject to strict regulations in the European Union. Players in the market must provide scientific evidence of the efficacy of their catechin products. As a result, health claims for catechin-containing products are frequently denied.
Catechins are used to improve immunity, feminine health, oral health, skin health, weight control, diabetes, cognitive health, sport endurance, and cardiovascular health, in addition to digestive health. It has proven to be one of the most adaptable ingredients.
Owing to its importance in immune system strengthening, catechin had a moderate impact on the catechin industry to some extent. Catechin, in particular, has been lauded as an effective additional method for combating viruses such as influenza.
The demand for potential protein substitutes for traditional protein sources has increased as the number of cases of protein malnutrition has surged. As a result of this requirement, catechin extraction from sustainable protein sources arose. Protein deficiency can result in health issues such as diabetes and cancer. Catechin consumption may reduce the risk of chronic non-communicable diseases. These factors boost catechin product sales, which are expected to aid the global catechin market growth.
Catechin is increasingly being used in cosmetics, nutraceuticals, dietary supplements, and food & beverages due to the numerous health benefits of consuming this organic compound. Catechins are being used to broaden the product offerings of companies in these end-user segments. As a result, increased product launches containing catechins are anticipated to increase market sales. These catechin market trends is expected to help the market grow.
The key players in the global catechin market include Arjuna Natural Extracts Ltd., Biosynth Carbosynth, Botaniex Inc., Cayman Chemical Company, Chengdu Wagott Bio-tech Co. Ltd, Hunan Sunfall Bio-tech Co. Ltd, Indena, INDOFINE Chemical Company Inc., Infré SA, and Taiyo International.
Key findings of the study
- The global catechin market was valued at $14,825.2 thousand in 2020, and is projected to reach $21,099.9 thousand by 2030, registering a CAGR of 3.8% from 2021 to 2030.
- By region, North America was the highest contributor with $715.8 thousand in 2020, and is anticipated to reach $963.1 thousand by 2030, registering a CAGR of 3.2%.
- By source, the tea segment was the highest contributor to the market, with $10,583.1 thousand in 2020, and is estimated to reach $14,790.0 thousand by 2030, at a CAGR of 3.6% during the forecast period.
- By type, the epigallocatechin-3-gallate (EGCG) segment was the highest contributor to the market, with $9,042.9 thousand in 2020, and is estimated to reach $12,687.7 thousand by 2030, at a CAGR of 3.6% during the forecast period.
- By application, the pharmaceuticals segment was the highest contributor to the market, with $5,871.8 thousand in 2020, and is estimated to reach $8,157.9 thousand by 2030, at a CAGR of 3.6% during the forecast period.