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Myo-Inositol Market

Myo-Inositol Market

Myo-Inositol Market Global Industry Assessment & Forecast

Number Of Pages # Pages:

149

Base Year:

2021

Date

Nov - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1893

Segments Covered
  • By Source Plant Based Inositol, Synthetic Inositol
  • By Application Inositol for Based Dietary Supplement , Inositol for Beverages, Inositol for the Feed Industry, Inositol for the Pharmaceutical Industry, Other Applications of Inositol
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 128.9 Million
Revenue 2028: USD 184.9 Million
Revenue CAGR (2022 - 2028): 6.20%
Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Premium Insights

Global Myo-Inositol Market is valued at USD 128.9 Million in 2021 and is projected to reach a value of USD 184.9 Million by 2028 at a CAGR of 6.20% over the forecast period.

Due to the rise of health problems like PCOS, diabetes, and others that can be linked to a lack of discipline in one's diet and an increase in the consumption of processed foods, there has been an increase in the demand for drugs and supplements that contain inositol because it has many healing properties as a member of the vitamin B complex. According to the most recent data from the National Health and Nutrition Examination Survey (NHANES), about 7% of American women of childbearing age have PCOS. This represents a significant increase from previous estimates, which ranged from 2-5%. As of 2020, it is estimated that there are approximately 1.6 billion people worldwide affected by the myo-inositol market. This number includes those affected by conditions such as diabetes, obesity, PCOS, and metabolic syndrome, which are all conditions that can be helped by myo-inositol supplementation. There is a growing awareness about the health benefits of myo-inositol among consumers. This is increasing the demand for myo-inositol supplements. Businesses can capitalize on this opportunity by providing products that meet the needs of consumers. The major growth drivers for this market are increasing demand for food & beverages fortified with Myo-inositol, rising awareness about the health benefits of Myo-inositol, and increasing use of Myo-inositol in cosmetics & personal care products. Natural and organic products are becoming more popular as consumers become more health conscious. This presents an opportunity for businesses to provide myo-inositol supplements that are made from natural ingredients. As of 2020, the number of obesity cases is estimated at 640 million. The prevalence of obesity has been increasing over the past three decades and is expected to continue to rise in the coming years. The main drivers for this increase are changes in lifestyle and diet, as well as the growing global population. The health consequences of obesity are well-documented and include an increased risk for type 2 diabetes, cardiovascular disease, and certain types of cancer. In addition, obese individuals are more likely to suffer from joint problems, sleep apnea, and respiratory issues. The economic cost of obesity is also significant, with estimates ranging from $147 billion to $610 billion per year. As per WHO estimates, by 2025, around 2.3 billion adults will be overweight, and more than 700 million will be obese if current trends continue. Myo-inositol is known to aid in weight loss and improve insulin sensitivity, which makes it a promising therapeutic agent for obesity and related disorders.

According to the Centers for Disease Control and Prevention (CDC), more than 29 million people in the United States suffer from diabetes. This number represents about 9% of the US population. Type 1 diabetes mellitus, or T1DM, is an autoimmune disease that affects about 5% of those with diabetes. Type 2 diabetes mellitus, or T2DM, is the most common type of diabetes, accounting for 90-95% of all cases. Type 2 diabetes is another important factor fueling the demand for myo-inositol supplements. The CDC estimates that one-third of all cases of diabetes could be prevented through lifestyle changes such as maintaining a healthy weight, eating a healthy diet, and getting regular physical activity. The global myo-inositol market is driven by the growing demand for dietary supplements and functional foods. The rising prevalence of psychiatric disorders and cognitive decline is expected to boost the market growth over the forecast period. Furthermore, increasing research and development activities related to myo-inositol are expected to provide new growth opportunities for market players over the coming years. However, the lack of FDA approval for Myo-inositol as a dietary supplement is restraining the growth of this market to some extent. The market for Myo-inositol is currently restrained by several factors. Firstly, the raw materials used to produce myo-inositol are relatively expensive and difficult to source. This has led to a limited supply of myo-inositol on the market, and a consequent price increase. Secondly, myo-inositol is not yet widely recognized as a dietary supplement, meaning that awareness of its potential benefits is low. These limits demand the product, as consumers are not inclined to purchase something they are not familiar with. Finally, there are few manufacturers of myo-inositol supplements, meaning that there is little competition in the market. This lack of competition keeps prices high, as few companies are competing to offer the lowest possible price.

Market Boost

In recent years, the myo-inositol market has been growing steadily. The food and beverage industry is a major consumer of myo-inositol, as it is used as a food additive and ingredient in many products. The cosmetics industry is another significant user of myo-inositol, as it is an effective skincare ingredient. In addition, myo-inositol is also used in animal feed and agriculture. However, the main driver of the myo-inositol market is the pharmaceutical industry. Various drugs and supplements that use myo-inositol as a raw material have been developed in recent years. These include treatments for conditions such as anxiety, depression, Alzheimer's disease, Parkinson's disease, and Huntington's disease. In addition, myo-inositol supplements are also popular among bodybuilders and athletes as they can improve muscle size and strength. Myo-inositol has several positive impacts on healthcare sectors. Firstly, it helps to improve insulin sensitivity, which is beneficial for patients with diabetes. Secondly, it has been shown to reduce the risk of cardiovascular disease. Thirdly, myo-inositol supplements are effective in treating depression and anxiety disorders. Finally, myo-inositol can help to improve cognitive function in older adults. There are many ways in which key players can grow the market revenue for myo-inositol. Firstly, they can increase the awareness of myo-inositol and its benefits among consumers. This can be done through marketing and educational campaigns. Secondly, they can develop new and improved products which offer greater benefits to consumers. Thirdly, they can expand their distribution channels so that more consumers have access to myo-inositol products. Finally, they can research new applications for myo-inositol so that it can be used in more areas of healthcare.

Top Market Trends

  • One of the latest trends in the myo-inositol market is the introduction of products containing MCT oil. MCT oil is derived from coconut oil and is rich in medium-chain triglycerides (MCTs), which are a type of saturated fat that is metabolized differently from other types of fat. MCTs are a popular ingredient in health supplements as they are believed to offer a range of health benefits, including weight loss, improved mental clarity, and increased energy levels. Adding MCTs to myo-inositol supplements can help to boost their efficacy, making them even more effective at supporting health and wellbeing.

    Myo-Inositol Market Size, 2021 To 2028 (USD Million)

  • Myo-inositol supplements come in different dosages. A common dosage is 1,000 mg per day. Higher dosages are available, but there is no evidence that they are more effective.

  • The move away from synthetic ingredients: Consumers are increasingly interested in avoiding synthetic ingredients, which can be found in many conventional myo-inositol products. Manufacturers are therefore moving away from these ingredients in favor of more natural alternatives.

  • The most notable change has been the consolidation of the industry. Several companies have been acquired by larger companies, and this trend is expected to continue. This consolidation has led to higher prices for myo-inositol products.

Market segmentation

The global myo-inositol market is segmented based on source, application, and region. Based on source, the market is classified into Plant-Based Inositol and Synthetic Inositol. Based on application, the myo-inositol market has been segmented into Inositol for Based Dietary Supplement, Inositol for Beverages, Inositol for the Feed Industry, Inositol for the Pharmaceutical Industry, and Other Applications of Inositol. Region-wise, the global myo-inositol market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

Based on source

The plant-based inositol segment is expected to grow at a higher CAGR during the forecast period. The growing demand for food & beverage applications is the major factor driving the growth of the plant-based inositol segment. It is also used as an emulsifier, stabilizer, and thickener in various food products such as bakery items, dairy products, confectioneries, and others. Moreover, it is an essential component of infant formulas and sports drinks. The synthetic inositol segment is projected to grow at a lower CAGR during the forecast period. This can be attributed to the availability of cheaper alternatives such as plant-based inositol. Moreover, synthetic inositol does not have any major food or beverage applications and is primarily used for biomedical purposes.

Based on application

Dietary supplements are the largest application segment for myo-inositol. Myo-inositol is often marketed as a dietary supplement for women’s health, particularly for fertility and PCOS (polycystic ovary syndrome). It is also sometimes promoted as a cognitive enhancer or mood booster. Beverage fortification is another significant application for myo-inositol. It is commonly added to infant formula and sports drinks. Myo-inositol has also been used to improve the nutritional quality of flour and pasta products. Myo-inositol is used as a feed additive for animals due to its nutritional properties. It helps in the growth and development of animals and also boosts their immune system. Additionally, myo-inositol is used in the pharmaceutical industry for the treatment of various conditions such as Alzheimer’s disease, anxiety, and depression. Moreover, it finds applications in cosmetics and personal care products as it helps prevent hair loss and promote hair growth.

Based on region

The North American myo-inositol market is expected to grow at a CAGR of around 5.5% during the forecast period. The rapidly growing nutraceutical industry in the US and Canada is expected to boost the demand for myo-inositol supplements in these countries. The European myo-inositol market is projected to grow at a CAGR of around 6.5% during the forecast period. The market in Europe is expected to grow at a significant rate due to the increasing demand for myo-inositol from the pharmaceutical industry. The Asia Pacific myo-inositol market is expected to grow at a CAGR of around 7.5% during the forecast period. Asia Pacific is projected to be the fastest-growing market due to the increasing demand for myo-inositol from China and India. The Latin American myo-inositol market is projected to grow at a CAGR of around 8.5% during the forecast period. The Middle East & Africa myo-inositol market is expected to grow at a CAGR of around 9.5% during the forecast period.

Competitive Landscape: The key players in the Global Myo-Inositol market include- DSM NV, Charles Bowman & Company, T.J Clark & Company, Shandong Runde Biotechnology Co., Howtian, Biological E ltd, Ronas Chemicals, Holland & Barrett Phoenix Herb, Asiamerica Group Inc. and others.

Recent Advancements

  • In 2020, several key players in the myo-inositol market launched new products. For example, InnoVision Health launched InnoWELL Myo-Inositol capsules, which are claimed to provide "clinically researched doses of myo-inositol."

  • Berg Health also launched Berg Inositol Powder, which is claimed to be a "highly bioavailable" form of myo-inositol.

  • One of the most notable advancements has been the introduction of myo-inositol supplements. These supplements are designed to help people with type 2 diabetes by helping to regulate blood sugar levels.

  • As per the new regulation, only those ingredients that have been authorized by the European Commission (EC) can be used in food supplements manufactured or sold in EU countries. This regulation will boost the demand for myo-inositol supplements as they are now officially recognized as safe for human consumption.

  • While inositol has been known for over 130 years, its potential as a therapeutic agent has only been explored in recent years. Inositol supplements are effective in treating conditions like anxiety, depression, OCD, and PCOS. Furthermore, inositol has demonstrated neuroprotective effects and may help treat Alzheimer’s disease and other forms of dementia.

  • In 2021, BASF SE launched new myo-inositol products under the brand name Inositrol. The company has also developed a new manufacturing process for this product. This process uses renewable raw materials and is more efficient than the previous one.

  • In 2022, Cargill Inc. introduced a new non-GMO myo-inositol product. The company has also implemented a Traceability System to ensure the quality of its products.

  • In 2023, ADM will introduce new Myo-Inositol Products Under the brand name Novamin. The company has also developed a new manufacturing process for this product. This process is more efficient and uses renewable raw materials.

Segmentation of the Global Myo-Inositol Market:

Parameter Details
Segments Covered
  • Source (Plant Based Inositol, Synthetic Inositol)
  • Application (Inositol for Based Dietary Supplement , Inositol for Beverages, Inositol for the Feed Industry, Inositol for the Pharmaceutical Industry, Other Applications of Inositol)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • DSM NV
  • Charles Bowman & Company
  • T.J Clark & Company
  • Shandong Runde Biotechnology Co.
  • Howtian
  • Biological E ltd
  • Ronas Chemicals
  • Holland & Barrett Phoenix Herb
  • Asiamerica Group Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

FAQ
Frequently Asked Question
  • The global Myo-Inositol valued at USD 128.9 Million in 2020 and is expected to reach USD 184.9 Million in 2028 growing at a CAGR of 6.20%.

  • The prominent players in the market are DSM NV, Charles Bowman & Company, T.J Clark & Company, Shandong Runde Biotechnology Co., Howtian, Biological E ltd, Ronas Chemicals, Holland & Barrett Phoenix Herb, Asiamerica Group Inc..

  • The market is project to grow at a CAGR of 6.20% between 2021 and 2028.

  • The driving factors of the Myo-Inositol include

    • Increased consumption of junk foods, unhealthy lifestyles, and diseases like diabetes, insomnia, and PCOS have intensified the demand for inositol supplements and drugs

  • North America was the leading regional segment of the Myo-Inositol in 2020.