Resveratrol Market generated $71.9 million in 2020, and is anticipated to reach $131.0 million by 2030, manifesting a CAGR of 6.2% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Increase in usage of resveratrol in the pharmaceutical market, surge in acceptance of resveratrol in the nutraceuticals sector, and rise in usage of resveratrol in the cosmetic industry fuel the global resveratrol market growth. On the other hand, low penetration in developing countries and the threat of substitution hamper the market growth. On the contrary, rise in the application of resveratrol in the food & beverages industry and fast-paced growth of the online retail platform create lucrative opportunities for the market players.
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The outbreak of coronavirus has positively impacted the resveratrol industry along with all stages of supply chain and value chain. Owing to the COVID-19 outbreak consumers all around the world became health conscious and in order to boost their immunity power consumers were getting more inclined towards the consumption of dietary supplements made of invasive ingredients including resveratrol which in turn has boost the demand for resveratrol from the nutraceuticals industry. This, in turn, has made a positive impact on growth of the resveratrol market.
The report segments the global resveratrol market on the basis of product type, form, application, and region.
Based on form, the powder segment accounted for the largest market share in 2020, contributing to more than four-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the liquid segment is estimated to witness the fastest CAGR of 7.7% from 2021 to 2030.
Based on application, the nutraceuticals segment contributed to the highest market share in 2020, attributing to nearly two-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the cosmetics segment is expected to manifest the fastest CAGR of 7.9% from 2021-2030.
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to maintain dominance during the forecast period. The global resveratrol market across the Asia-Pacific is anticipated to exhibit the fastest CAGR of 8.9% during the forecast period.
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Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for partnership strategies to strengthen their foothold in the market. To understand the key resveratrol market trends, strategies of leading players are analyzed in the report. Some of the key players in the resveratrol market analysis includes botaniex inc., chongqing kerui nanhai pharmaceutical co., ltd., evolva, foodchem international corporation, good-yg-biotech, haihang industry co., ltd , hubei sanxin biotechnology co., limited, honghao herbs, sichuan xieli pharmaceutical co. ltd and xi’an chen lang biological technology co., ltd.
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