A key factor driving the growth of the market is the issue associated with protein malnutrition. Protein malnutrition, which arises due to the lack of required protein intake, is an emerging issue in many developing countries. Both children and adults face this issue in many countries. Protein malnutrition can also cause other conditions, such as chronic renal diseases, in which protein-energy wasting can occur. Thus, the need to address protein malnutrition has increased the demand for potential alternatives to conventional protein sources such as isoflavones. Isoflavones are extracted from sustainable protein sources and help to inhibit cell proliferation and reduce cholesterol levels. This helps to reduce the risk of non-communicable chronic diseases. In addition, the consumption of foods containing isoflavones increases antioxidant levels in the body and supports cellular health.
As per Technavio, the increasing launch of products containing isoflavones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global isoflavones market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Isoflavones Market: Increasing Launch of Products Containing Isoflavones
The use of isoflavones is gaining popularity in many end-user segments, such as food and beverages, nutraceuticals, and cosmetics, owing to its numerous benefits. Such growth in popularity has also encouraged many end-user segments to expand their offerings by launching new products containing isoflavones. For instance, in April 2019, Otsuka Pharmaceutical launched EQUELLE, which contains isoflavones, a new non-prescription and non-hormonal supplement, for the treatment of hot flashes and muscle aches associated with menopause. Similarly, in August 2017, Kikkoman Co. Ltd. (Kikkoman Beverage) announced the launch of Kikkoman soy milk, which also contains isoflavones. Thus, product launches are expected to boost market growth during the forecast period.
“Apart from the increasing launch of products containing isoflavones, the growing demand for isoflavones in skincare products is expected to boost market growth during the forecast period. Isoflavones are natural extracts containing aglycones, daidzein, and genistein. They also have antioxidant and anti-aging benefits. They exhibit estrogen-like properties that help in maintaining skin health and enhance hair growth. Thus, with such benefits the market for isoflavones is expected to showcase a positive outlook during the forecast period,” says a senior analyst at Technavio.
Global Isoflavones Market: Segmentation Analysis
This market research report segments the global isoflavones market by product (soybean isoflavones, chickpea isoflavones, and others) and geographical regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by APAC, Europe, South America, MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth because of the role of isoflavones in reducing the risk of cancer.
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