Hydroxytyrosol Market Benefiting from Rising Preference for Natural Antioxidants

ROCKVILLE, MARYLAND, UNITED STATES, May 8, 2024 /EINPresswire.com/ -- Increasing investments in R&D activities are leading to product diversification in the hydroxytyrosol market. Worldwide demand for hydroxytyrosol is poised to reach a market value of US$ 2.65 billion in 2024, as revealed in the updated study published by Fact.MR, a market research and competitive intelligence provider. The market has been projected to advance at 7.2% CAGR from 2024 to 2034.

Growing consumer preference for functional and natural ingredients is estimated to lead to the adoption of hydroxytyrosol around the world. More individuals are prioritizing wellness and health, therefore increased demand for products containing hydroxytyrosol is encountered. These products are well-known because of their perceived benefits and help in promoting cognitive function, cardiovascular health, and overall well-being. Multiple industries, including nutraceuticals, dietary supplements, and functional foods are driving demand for hydroxytyrosol.

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Most manufacturers of hydroxytyrosol are strategizing to optimize their production procedures, exploring innovative applications, and enhancing product purity.

Key Takeaway from Market Study

Worldwide sales of hydroxytyrosol are estimated at US$ 2.65 billion in 2024. The global hydroxytyrosol market is forecasted to reach US$ 5.32 billion by the end of 2034.

Worldwide demand for hydroxytyrosol has been projected to increase at a CAGR of 7.2% from 2024 to 2034. East Asia is poised to account for 24.6% share of the global market by 2034-end.

Demand for hydroxytyrosol in South Korea is approximated to increase at a double-digit CAGR of 10% from 2024 to 2034. The pharmaceutical sector is evaluated to account for 33.1% share of global market revenue by 2034-end.

“Increasing demand for antioxidant supplements, functional foods, dietary supplements, and nutraceuticals containing hydroxytyrosol contributing to market expansion,” says a Fact.MR analyst.

Key Market Players

Leading hydroxytyrosol manufacturers are Baoding Faithful Industry Co. Ltd., Shanxi Jinjin Chemical Co. Ltd., Extrasynthese, Nutexa Ingredients, BIONAP (Bioactive Natural Products), Natac Group, Hebei Huanhao Biotechnology Co., Ltd., Carl Roth, Shenyang Phytocare Ingredients, Granatumplus, ShenZhen Dieckmann Bio-pharm Co. Ltd., DIECKMANN, Wacker Chemie AG, Qenax, Chengdu, Biopurify Phytochemicals Ltd., Phenobio, Oliveda International Inc., Genosa I+D, Nutrafur SA, and Devson Impex Private Limited.

Growing Requirements for Anti-aging Products Driving Sales of Hydroxytyrosol in Japan

Sales of hydroxytyrosol in Japan are poised to rise at a CAGR of 7.4% from 2024 to 2034. Constant changes in beauty trends in Japan are projected to positively influence exposure to various other cultures. This change is expected to increase demand for hydroxytyrosol in the country for its anti-aging properties.

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Competitive Landscape

Leading hydroxytyrosol manufacturers are concentrating on the launch of innovative and new products to increase their sales and strengthen their position. They are spending more on R&D activities for new product launches, strengthening supply chain systems, and offering quality products. In addition, collaborations, mergers, partnerships, acquisitions, etc. are some other strategies adopted by market players to get a competitive edge.

For instance:

Genosa is one of the prominent global suppliers of hydroxytyrosol. In July 2022, it launched Hytolive Infinity for use in edible oils. It was stated by the company’s CEO that the formulation of multiple functional oils consists of EPA, DHA, and oleic acid.

Category-wise Insights

The United States is projected to account for 73.5% of the North American market by the end of 2034. The country is a major hub for cosmetics and pharmaceutical firms worldwide, which drives demand for hydroxytyrosol. Furthermore, as more millennials want anti-aging goods and spend on personal care items, their awareness of aesthetics drives demand for hydroxytyrosol in the corresponding end-use industries.

China is expected to account for 57.3% of East Asian market revenue by the end of 2034. The unique properties of hydroxytyrosol are expected to raise its demand in China. The majority of Chinese people prioritise wellbeing and health, which provides a foundation for producers of functional and natural components such as hydroxytyrosol, etc. The country's pharmaceutical, cosmetic, and nutraceutical industries are expanding, opening up new potential for market players.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the hydroxytyrosol market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product type (natural hydroxytyrosol (95% purity, 20% purity, 10 purity), synthetic hydroxytyrosol (95% purity, 20% purity, 10 purity)), form (powder, liquid), source (standard olive oil, virgin olive oil, catechol), and application (functional foods, nutraceuticals, dietary supplements, cosmetics, pharmaceuticals), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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