Increase in demand for natural, organic products, surge in health awareness, rise in prevalence of obesity and diabetes drive the growth of the global market.
PORTLAND, OR, UNITED STATES, July 18, 2022 /EINPresswire.com/ — According to the report, the global catechin market generated $14.82 million in 2020, and is estimated to reach $21.09 million by 2030, witnessing a CAGR of 3.8% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for natural and organic products, surge in health awareness, and rise in prevalence of obesity and diabetes drive the growth of the global catechin market. However, lack of consumer awareness and high capital cost for extraction process restrain the market growth. On the other hand, surge in demand for functional food & beverages and widening application scope create new opportunities in the coming years.
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The manufacturing operations and catechin extraction have been stopped partially or completely due to lockdown implemented in many countries. This led to disruptions in the supply chain and created a supply-demand gap.
The demand from application industries such as food & beverages, dietary supplements, and others lowered due to disruptions in daily operations. However, the demand is expected to recover post-lockdown.
The report offers detailed segmentation of the global catechin market based on source, type, application, and region.
Based on source, the tea segment held the highest share in 2020, contributing to nearly three-fourths of the total share, and is estimated to continue its lead position during the forecast period. However, the fruits segment is projected to manifest the highest CAGR of 4.8% from 2021 to 2030.
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Based on application, the pharmaceuticals segment accounted for the highest share in 2020, contributing to nearly two-fifths of the total share of the global catechin market, and is expected to continue its leadership status during the forecast period. However, the food & beverage segment is projected to witness the fastest CAGR of 4.3% from 2021 to 2030.
Based on region, North America contributed to the largest share in 2020, accounting for around one-third of the total market share, and is projected to continue its dominance by 2030. However, Asia-Pacific is expected to portray the largest CAGR of 4.3% during the forecast period.
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Leading players of the global catechin market analyzed in the research include Arjuna Natural Extracts Ltd., Botaniex Inc., BiosynthCarbosynth, Chengdu Wagott Bio-tech Co. Ltd, Cayman Chemical Company, Indena, Hunan Sunfall Bio-tech Co. Ltd, Infré SA, INDOFINE Chemical Company Inc., and Taiyo International.
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Article originally published on www.einpresswire.com as Catechin Market Share, Size, Statics, Type, Application, Recent Market Trends, Revenue Forecast, 2030