The isoflavones market is estimated to be valued at USD 1.1 billion in 2019 and is projected to reach USD 1.5 billion by 2025, at a CAGR of 4.7% during the forecast period. Growth in this industry is driven by the increasing incidences of chronic diseases, rising prevalence of cancer, technological advancements in the manufacturing of isoflavones, the rapidly increasing geriatric population and so on.
Key players in isoflavone market include Cargill (Germany), ADM (US), BASF (Germany), DSM (Netherlands), International Flavors and Fragrances (Frutarom) (US), Shanghai Freemen (US), Nexira Inc. (France), Bio-gen Extracts, Sikko Industries, SK Bioland (South Korea), BioMax (India), Avestia Pharma (India), NutraScience Labs (US), Tradichem S.L. (Spain), Nutra Green Biotechnology (China), Herbo Nutra (India), FutureCeuticals Inc. (US), Bio-gen Extracts (US), Xena Bio Herbals Pvt. Ltd. (India), Sikko Industries (India), Biomax (India), and Lactonova (India).
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Cargill is amongst the largest suppliers of ingredients, resources, and expertise, which aids it in the development of food & beverage products across the globe. It provides its services through four major business segments, namely, animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. Cargill Health and Food Technologies, a subsidiary of Cargill, is a leading developer, processor, and marketer of science-based, health-promoting ingredients for food and dietary supplement industries and provides isoflavones worldwide. Cargill provides isoflavones product under the brand name Advanta soy for the application in dietary supplement.
Archer Daniels Midland (ADM) is among the key players in the isoflavones marke. The company produces food & beverage ingredients, feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company focuses on scaling up operations to meet the growing demand for isoflavones in the current market scenario. ADM also focuses on inorganic growth strategies through ex-pansion to meet the increasing demand for isoflavones. As of January 2018, ADM opened an innovation center in Singapore. This center would facilitate ingredient development and the application of food, feed, industrial, and energy products. The company is keen on improving its current production capacity to meet the increasing demand from consumers.
Owing to the increasing cases of chronic diseases and the trend of weight management among consumers is projected to drive the isoflavones market in North America
Increasing cases of obesity in North America increase the focus on weight management techniques & attracting consumers toward healthy and natural food products with natural ingredients, thereby propelling the demand for isoflavones in the region. Factors such as the increasing incidences of chronic diseases, rising prevalence of cancer, growing geriatric population, and rise in menopausal health issues drive the growth of the isoflavones market.
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