Categories: Food & Beverages

Isoflavones Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Isoflavones Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Isoflavones Global Market Report 2024, The isoflavones market size has grown rapidly in recent years. It will grow from $21.14 billion in 2023 to $23.66 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to increased health consciousness, growing demand for nutraceuticals, preventive healthcare trends, rising incidence of hormonal disorders, expanding applications in food and beverages.

The isoflavones market size is expected to see rapid growth in the next few years. It will grow to $37.36 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to research on menopausal symptom relief, expanding cosmetic and skincare applications, increased adoption in functional beverages, growing awareness of plant-based diets. Major trends in the forecast period include emphasis on non-gmo and organic sources, focus on sports nutrition and performance, innovation in delivery formats, integration in plant-based protein products, global market expansion.

The increasing use of isoflavones in the cosmetics industry is expected to propel the growth of the isoflavones market going forward. The cosmetic industry refers to the industry that comprises of manufacturing and distribution of various skin care products. Isoflavone is used in skincare products that include aglycones and daidzein, which provide antioxidant and anti-aging protection and soothing and moisturizing properties. For instance, in 2023, according to the Cosmetic Toiletry & Perfumery Association (CTPA), a UK-based organization, the share of color cosmetics increased from 10.9 % in 2021 to 11.3% in 2022. Additionally, the share of fragrances rose from 20.1% in 2021 to 20.6% in 2022. Therefore, the increasing use of isoflavones in the cosmetics industry drives the isoflavones market.

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The isoflavones market covered in this report is segmented –

1) By Source: Soybean, Peanut, Chickpea, Clover, Other Sources

2) By Nature: Organic, Conventional

3) By Form: Powder, Liquid

4) By Application: Food And Beverages, Nutraceuticals, Cosmetics, Other Applications

Product innovations are a key trend gaining popularity in the isoflavones market. Major companies operating in the isoflavones market are introducing innovative products with isoflavones to sustain their position in the market. For instance, in October 2022, PharmaLinea, a Slovenia-based manufacturer of food supplements, launched Meno Ease Capsules, an advanced whole-body menopause supplement. These supplements include soy isoflavones for menopause symptom relief using an advanced version of the recognized classic matevz ambrozic.

The isoflavones market report table of contents includes: