NEWARK, Del, Dec. 05, 2022 (GLOBE NEWSWIRE) -- According to the recent FMI report, the global sales of lignans are expected to surpass a valuation of US$ 676.7 Mn in 2032, growing at a CAGR of around 5.8% throughout the forecast period (2022-2032).
Demand in the global lignans market is projected to grow at a steady pace during the forecast period, owing to factors such as a growing preference for herbal products over synthetic medications, increasing consumer spending, and growing popularity of lignans in functional food and beverage industry on account of their antioxidant, anti-inflammatory, and antitumor activities.
Lignans are phytoestrogens that contain 2-phenyl propane units and have anti-oxidant and estrogenic properties. They are a group of natural chemicals that contain two phenyl propane units. Many lignans are believed to have biological activity. For this reason, they are used for medical purposes.
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Over the years, lignans have become highly sought-after products in industries like food & beverages, pharmaceuticals, animal nutrition, and cosmetics. Growing production and consumption of products like functional foods, animal nutrition, cosmetics, and pharmaceuticals will therefore continue to boost the growth of lignans market during the forecast period.
In addition, lignans are in high demand due to their antiviral properties against HIV, HCV, HBV, SARS, HPV, Ebola virus, influenza virus, herpes simplex virus (HSV), vesicular stomatitis virus (VSV), and other viruses.
Key Takeaways from the Lignans Market Study:
- Based on source. the cereals segment dominated the lignans market with a share of around 3% in 2021 while as oilseeds segment is likely to grow at 6.7% CAGR during the assessment period.
- By application, food and beverages segment holds the largest revenue share in the global lignans market.
- Asia Pacific lignans market is predicted to grow at around 7% CAGR during the forecast period (2022-2032).
- The lignans market in North America is poised to grow at a steady CAGR of 5.2% between 2022 and 2032.
- With rising inclination towards lignans based food products and pharmaceuticals, demand for lignans is slated to rise at a significant pace across the U.S. during the assessment period.
“Key market players are rigorously investing in R&D to introduce new products and obtain a competitive advantage in the market. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.
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Who is winning?
Key players operating in the global lignans market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.
Some of the leading companies offering lignans are TSKG Products, LLC, Kingherbs, Ltd., Shaanxi Zebrago Industrial, BioGin Biochemicals, FarmaSino Pharmaceuticals, Plamed Green Science Group, SPI Pharma, Xi’an Sinuotebio Tech, and others.
Get Valuable Insights into Lignans Market
FMI, in its new offering, provides an unbiased analysis of lignans presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for lignans based on the source (cereals, oilseeds, and plant resins), application (food & beverages, pharmaceuticals, animal nutrition, and cosmetics), across five major regions.
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Lignans Market by Category
By Source, Lignans Market is Segmented as:
- Cereals
- Oilseeds
- Plant Resins
By Application, Lignans Market is Segmented as:
- Food & Beverages
- Pharmaceuticals
- Animal Nutrition
- Horses
- Ruminants
- Cosmetics
- Hair care
- Toiletries
- Skin Care
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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