Glycine Soja (Soybean) Seed Extract Market to Expand Significantly by 2033
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.
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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.
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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
Market Segmentation
By Application:
- Skin Care
- Hair Care
- Makeup
- Bath and Body Care
- Food
- Medicines
By Form:
- Liquid
- Semi-liquid
By Source:
- Natural
- Synthetic
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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