Catechin can be found in a variety of products, including green tea, red wine, plants, fruits, beer, chocolate, cacao liquor, and cocoa. Red wine and tea are two of the most widely consumed drinks in the world. Various in vitro, in vivo, and physical approaches have been used to demonstrate catechin's antioxidant activity. The catechin market is expected to witness significant growth owing to its potential to reduce the risk of cardiovascular diseases. Moreover, the application of catechin in the beverage industry is estimated to boost the catechin market in the coming years. Increasing demand for catechin from developed and developing nations such as Japan, India, the US, and Germany, amongst others, provides a vast market opportunity for the key players operating in the catechin market.
Rising demand for functional beverages to drive the market growth
The catechin market is growing with a CAGR of XX% during the forecast period, reaching USD xx million in 2028. Catechin sales are benefiting from the growth of the functional beverages market around the world. The demand for healthier foods that complement consumers' healthy lifestyles has increased due to the rising incidence of cardiovascular diseases and the increasing prevalence of obesity. This change in consumer lifestyle has been a crucial factor encouraging market growth. Catechin is widely used in a range of beverages. For instance, it is used in instant green tea besides other functional drinks. In addition to this, catechin finds use in pharmaceutical applications to prevent and treat various ailments. Spurred by increasing applications in diverse sectors, the catechin market will exhibit growth at a favorable rate.
Some extraction methods, on the other hand, are capital intensive and take longer to extract. Research and development are being carried out to reduce extraction time and cost, improve extraction rate, and increase processing throughput and yield. In addition, major players are focusing their efforts on developing technologies that minimize the use of chemicals in the extraction process. Botany, for example, has developed an ethyl acetate-free catechin extraction method. The new product developed by the company is chemical-free, thereby making it healthier and safer for consumers. Thus, residue-free ingredients extracted through innovative technologies are anticipated to help dietary supplement manufacturers penetrate the catechin market. In 2019, the European Food Safety Authority (EFSA) after carrying out assessments raised concerns regarding the potential liver damage caused due to the intake of catechin supplements with a dose above 800 gm/day.
North America is expected to dominate the global catechin market
The North American region accounted for the largest share of the regional catechin market. The United States dominated the North American Catechin market with a share of XX% in 2020. Rising product demand in this region is primarily attributed to the growing focus on dietary supplements and functional food and beverages among millennials. Augmented healthcare measures for preventing the occurrence of various diseases coupled with government efforts on improving the national health standard are contributing toward the growth of the dietary supplements market, which in turn is anticipated to drive the demand for catechin in the country. Moreover, the U.S. Food and Drug Administration (FDA) has approved the use of the products as a prescription drug for the treatment of genital warts which is caused by the Human Papillomavirus (HPV). The drug is sold under prescription by Fougera Pharmaceuticals, Inc.
Competitive Landscape
The market is highly fragmented, with well-established and long-term operating players dominating. Because of the rising demand for health supplements, competition is expected to intensify over the forecast period. Furthermore, the market's high level of competition is due to the presence of large and well-established players. Some of the key players operating in the market include Hunan Sunfull Bio-tech Co., Ltd., Taiyo Green Power Wxee, Chengdu Wagott Biotech Co., Ltd., Novanat Bioresource, Inc. and Hangzhou Qinyuan Natural Plant High-tech Co., Ltd among others.
