The global sales of resveratrol are likely to exceed 370 thousand units in 2019, as per a new FMI research study. The study finds that demand for resveratrol has significantly taken off over the past few years on the back of growing demand from three key verticals- cosmetics, pharmaceutical, and dietary supplement applications. Owing to their extraordinary capabilities in healing and managing cardio-vascular diseases, cancer, and neurological disorders, resveratrol is finding extensive applications in pharmaceuticals, notably specialty drugs. FMI’s new research study on resveratrol market enunciates on the evolving landscape, highlighting key insights to the fore.
According to the product, natural resveratrol remains the top-selling variant, with global sales poised to exceed 300 thousand units in 2019. With cosmetics industry witnessing the greatest measurable impact to date from rising consumer bias toward natural products, the status quo apropos of demand for natural resveratrol remains unaltered over the forecast timespan. As per the report, solid form of resveratrol continues to gain immense favor with global sales anticipated to surpass 280 thousand units in 2019, on the back of sweeping use across multiple application verticals.
“Consumer awareness with regard to resveratrol’s potential health benefits has significantly revved up, alongside favorable research studies demonstrating its numerous health benefits. According to the report, demand for resveratrol in dietary supplements is emerging a palpable trend picking in the food supplement landscape, with resveratrol moving out of the specialty diet space and mainstreaming in the functional food category”, says FMI report.
As per the FMI report, the market growth continues benefit from approvals sanctioned by prominent organizations apropos of resveratrol-based food supplement launches. For instance, DSM Nutritional Products, a leading food and beverage producing company, received the European Union (EU) novel foods approval for resVida, which is a trans-resveratrol for use in food supplements, in either capsule or tablet form. Particulars as such provide substantial credence to the burgeoning adoption of resveratrol in food and dietary supplements over the forecast period.
With potential antioxidant capabilities, personal care and cosmetic products containing resveratrol remain highly-favored by customers for attaining the desirable anti-aging effects. However, the shorter duration of resveratrol’s efficacy is denting consumer confidence, which is posing challenges vis-à-vis its adoption in skin care products.
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Ambiguities over Health Benefits of Resveratrol Denting Consumer Confidence
While favorable studies vouch for the multimodal benefits of resveratrol, specific side-effects are likely to trigger a slowdown in the adoption rate. For instance, as per a recent revelation by National Institute of Health (NIH) in May 2018, resveratrol might cause potential effects, such as headache, nausea, fatigue, and so on. Furthermore, some research findings have also pinpointed that resveratrol can cause supplement-drug interactions with anticoagulants and estrogens, which is further expected to hinder the adoption rate of resveratrol.
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Europe is likely to show strong growth over the forecast timeline, notably driven by strategic mergers and acquisitions by leading players to expand their product portfolio with resveratrol-based offerings. For instance, Evolva, a Swiss-based biotech company, launched ‘Veri-teTM’, an exclusive resveratrol ingredient, which bought a substantial hike in the company’s overall sales revenue.
Companies operating in the resveratrol market are witnessing longstanding issues in the supply chain framework. In line with the aforementioned, these companies are vying to deliver products that are cost-competitive and produced via sustainable methods, such as bio-production. Key brands are singing strategic distribution agreements and expanding in terms of geographical presence as well as product ranges to solidify their market sustenance.
The FMI report profiles latent opportunities in the resveratrol market for the forecast period of 2018 to 2028. As per the report, the resveratrol market is poised to expand at a volume CAGR of over 8% through 2028. For more insights, write in to FMI analysts at press@futuremarketinsights.com
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