Allied Market Research published a research report on the global catechin market. The findings of the report state that the global market for catechins generated $14,825.2 thousand in 2020, and is projected to reach $ 21,099.9 thousand by 2030, witnessing a CAGR of 3.8% from 2021 to 2030. The report offers valuable information on changing market trends, key segments, key investment pockets, and the competitive landscape for market players, shareholders, investors, and new entrants.
Aniket Kadam, the Senior Research Analyst, Food & Beverage at Allied Market Research, stated, “The surge in demand for natural and organic products, rise in health awareness, rising prevalence of obesity and diabetes, rising demand for functional food & beverages, and growing applications of catechin in diverse sectors are factors that are expected to drive the growth of the catechin market.”
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The report offers an extensive analysis of drivers, restraints, and opportunities to help market players in determining strategies based on driving forces and tap into new opportunities. Growing consumer health awareness and beneficial features of catechins drives the growth of the global catechins market. Moreover, the wide use of catechins in food & beverages and pharmaceuticals will open new avenues of growth for the global market. However, low awareness about benefits derived from catechins consumption among the lower middle-class population across the globe can hinder market growth.
The research provides detailed insights regarding the Covid-19 pandemic along with its impact on the global catechins market across the globe. The COVID-19 pandemic had a moderate effect on the global catechins market. The production activities and catechin derivations were halted in many countries due to the lockdown imposed by governments to control the COVID-19 spread. Furthermore, demand for catechin in dietary supplements and food & beverages applications took a hit during the COVID-19 pandemic. This was due to disruptions in the supply chain and raw material production owing to less workforce.
The report offers an extensive analysis of segments of the global catechins market based on source, type, application, and region. These insights are helpful for new entrants as well as existing market players in optimizing their gains through information on the fastest growing and largest revenue-generating segments derived from the report.
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Based on the source, the tea segment accounted for the highest market share in 2020, contributing about three-fourths of the global catechins market share. However, the fruits segment is anticipated to register the fastest CAGR of 4.8% from 2021 to 2030.
In terms of application, the pharmaceuticals segment contributed the highest share in 2020, accounting for nearly two-fifths of the global catechins market. Moreover, the segment is predicted to continue its market dominance during the forecast timeframe. However, the food & beverage segment is set to register the highest CAGR of 4.3% from 2021 to 2030.
Based on the region, North America accounted for the largest regional market share in 2020, contributing about one-third of the overall market share. The region is predicted to maintain its domination by 2030. However, Asia-Pacific is anticipated to record the highest CAGR of 4.3% from 2021 to 2030.
Key players in the global cathecins market include Arjuna Natural Extracts Ltd., INDOFINE Chemical Company Inc., Botaniex Inc., Indena, Chengdu Wagott Bio-tech Co. Ltd, BiosynthCarbosynth, Infré SA, Cayman Chemical Company, Hunan Sunfall Bio-tech Co. Ltd, and Taiyo International.
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