Portland, OR, Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, 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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Covid-19 Scenario:
- 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
