(MENAFN- GlobeNewsWire - Nasdaq) The increasing desire for plant-based protein options and substitutes for dairy has led to a rising demand for products and extracts derived from soybeans.
NEWARK, Del, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The glycine soja (soybean) seed extract market is estimated to be worth US$ 2,253.30 million in 2023 and is projected to be valued at US$ 4,269.60 million in 2033. Between 2023 and 2033, the market is projected to expect a growth rate of 6.60% .
The growing popularity of anti-aging skin care products among consumers day by day owing to increasing awareness about personal grooming as well as the fear of looking old driving the glycine soja (soybean) seed extract market growth.
Increasing consumer preference for natural and plant-based ingredients in skincare and cosmetics boosts the demand for soybean seed extract, as its natural element rich in antioxidants and nutrients, aligns with this trend. Glycine soja (soybean) seed extract is known for its moisturizing properties and its ability to improve skin texture and tone. It is often used in products targeting dry skin, aging, and uneven skin tone, driving its demand in the skincare market
Glycine soja (soybean) seed extract is versatile and can be incorporated into various skincare and cosmetic products, including moisturizers, serums, masks, and creams. Its flexibility has expanded its usage across different product categories, driving market growth.
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Key Takeaways
In 2022, the glycine soja (soybean) seed extract market was valued at a US$ 2,111.80 million Based on nature, the organic segment is expected to account for 42.20% in 2023. Global glycine soja (soybean) seed extract demand in China is predicted to account for a CAGR of 7.30% through 2033. In the United Kingdom, the glycine soja (soybean) seed extract industry is expected to account for a CAGR of 6.70% between 2023 and 2033. Germany is projected to expand by a value CAGR of 6.90% between 2023 and 2033. By 2033, India's glycine soja (soybean) seed extract market is anticipated to record a CAGR of 7.30% during the forecast period.
“The increasing application of glycine soja (soybean) seed extract in pharmaceutical and nutraceutical products is expected to boost market demand over the forecast period." says Nandini Roy Choudhury , Client Partner at Future Market Insights.
Competitive Landscape
The glycine soja (soybean) seed extract market is consolidated in nature since a large number of dominant key players are present across the world. To attain a dominant position, the companies may follow an inorganic growth strategy such as merger, expansion, acquisition, partnership, and collaboration of the companies along with a new product development strategy.
Glycine soja (soybean) seed extract manufacturers have expanded their market presence globally, targeting emerging markets with growing populations and increasing disposable income. This expansion has opened up new opportunities for market growth.
Clinique , under the Estée Lauder umbrella, has incorporated soybean seed extract in certain skincare formulations, highlighting its potential to improve skin tone and texture. Global Essence is known for its expertise in developing natural ingredients for the flavor, fragrance, and cosmetic industries. They have likely explored the use of soybean extract in skin care and cosmetic formulations, possibly focusing on its moisturizing and antioxidant properties. Grau Aromatics specializes in natural fragrance and aromatic ingredients. While their specific involvement with soybean extract might not be as prominent, companies like Grau often work on creating natural and botanical extracts for various applications, potentially including soybean extract.
Key Companies Profiled:
Grau Aromatics Symrise Bellatorra Skin Care LLC Natural Solution The Organic Pharmacy Ltd Lucas Meyer Cosmetics JF Natural Durae Corporation Carrubba Others
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Future Market Insights offers an unbiased analysis of the global glycine soja (soybean) seed extract market, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.
To understand opportunities in the industry, the glycine soja (soybean) seed extract industry is segmented based on Application (Skin Care, Hair Care, Makeup, Bath and Body Care, Food, Medicines) by Form (Liquid, Semiliquid), Source (Natural, Synthetic) by End-Use Industry( Cosmetic and Personal Care Industry, Pharmaceutical Industry, Food and Beverage Industry, Others) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
Market Segmentation
By Application:
Skin Care Hair Care Makeup Bath and Body Care Food Medicines
By Form:
By Source:
By End Use Industry:
Cosmetic and Personal Care Industry Pharmaceutical Industry Food and Beverage Industry Others
By Region:
North America Latin America Europe East Asia South Asia Oceania The Middle East and Africa
Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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