Ergothioneine Market

SKU: DMPH4046 | Last Updated On: Jul 27 2022 | Available Formats

Ergothioneine Market Expected to reach a high CAGR of 5% By 2029: DataM Intelligence

Ergothioneine Market is segmented By Type (Chemical synthesis Method, Fermentation Method, Other), By Application (Medical Industry, Food Industry, Cosmetics Industry), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Ergothioneine market size was valued at USD billion in 2021; it is projected to reach USD billion by 2029, with growth at a CAGR of XX% over the forecast period 2022-2029.

Ergothioneine Market is predicted to reach at a high CAGR during the forecast period (2022-2029). Ergothioneine (EGT) is a sulfur-containing amino acid biosynthesized in fungus and bacteria, stored in plants, and consumed by humans. It is concentrated in oxidatively stressed tissues. Ergothioneine (EGT) is commonly obtained from fermentation and chemical synthesis. Ergothioneine (EGT) is used as a preservative in various food products and an antioxidant in various cosmetic formulations. It is also used in the preparation of various pharmaceuticals.

Increasing consumption of processed foods is expected to boost the demand for ergothioneine market:

Rising wages, higher disposable incomes, and adopting modern lifestyles have altered dietary preferences and increased global processed food consumption. Modern food production techniques and highly efficient local, regional and global logistical systems have ensured the ubiquitous availability of cheap processed foods. Ergothioneine (EGT) is an important additive to maintain the quality and extend the shelf life of processed food. Ergothioneine is mainly used as a preservative in various ready-to-cook and ready-to-eat packaged meals. Ergothioneine (EGT) is a flavor enhancer in various processed food preparations such as soups, stews, salads, and sandwiches. During the forecast period, the growth in consumption of processed foods is expected to augment the growth of the global ergothioneine market.

Volatility in prices of raw materials is expected to restrain the global ergothioneine market:

Ergothioneine is generally sourced from cyanobacteria as well as fungi such as mushrooms. Since the raw materials are sourced from natural sources, the quality can vary widely depending upon the source. Various factors such as climate and soil conditions can affect the quality of the raw materials. Sometimes, drought conditions and abnormal weather events can destroy the fungi, reducing the supply of raw materials. During the forecast period, volatility in prices of raw materials is expected to be the major factor in restraining the growth of the global ergothioneine market.

Diversification of raw material sources is expected to generate new opportunities for the global ergothioneine (EGT) market:

Ergothioneine is sourced from cyanobacteria and fungi such as mushrooms. Researching new sources of ergothioneine could enhance the production output of ergothioneine, leading to lower costs and wider adoption by industries.

Long lead times of research into the benefits of ergothioneine are expected to present challenges for the global ergothioneine (EGT) market:

Many research studies are being carried out into the effect of ergothioneine on various physiological functions of the human body. However, most of these research studies would take years to conclude. The long lead times of research into the benefits of ergothioneine (EGT) prevents its adoption for a wider range of applications and presents a challenge to the global ergothioneine market growth.

Ergothioneine Market Scope

Metrics

Details

Market CAGR

5%

Segments Covered

By Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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COVID-19 Impact Analysis

The COVID-19 pandemic created various setbacks for the global ergothioneine (EGT) market. The pandemic lockdowns caused disruptions to the production of synthetic ergothioneine and its derivatives, which are produced on a large scale using bio-reactors and industrial fermentation methods. The shipping delays and raw material supply disruptions caused by the aftershock effects of the COVID-19 pandemic have led to a decrease in ergothioneine production and long production times. Despite these challenges, the global ergothioneine (EGT) market is expected to generate significant growth in the coming years.    

Recent Developments in the Industry:

  1. In October 2021, a study conducted by researchers from Penn State University found that regular mushroom consumption may help in lowering the risk of depression. The research found that ergothioneine (EGT), an important amino acid found in mushrooms, may be key in reducing oxidative stress and depression risk.
  2. In February 2022, Life Extension, a health supplement manufacturer, launched the Essential Youth L-Ergothioneine supplement for anti-aging.
  3. In February 2022, research carried out by a team from Penn State University found that soil tillage significantly reduces the availability of ergothioneine (EGT) in crops.

Market Segmentation:

The scope of the report covers segmentation based on type, application, and region. The global ergothioneine (EGT) market is segmented by type into chemical synthesis method, fermentation method and others. The global ergothioneine (EGT) market is segmented by application into healthcare, food and beverage, and cosmetics.

  1. Healthcare: Ergothioneine (EGT) 's unusual chemistry gives birth to its high stability and capacity to accumulate in the body, allowing for a wide spectrum of cytoprotective and disease mitigating qualities. It is used in various medications to treat liver damage, cataracts, Alzheimer's, diabetes, and heart disease.
  2. Food and Beverage: Ergothioneine (EGT) is mainly utilized as a preservative in various processed food products due to its antioxidant properties.   
  3. Cosmetics: Ergothioneine (EGT) is a naturally occurring amino acid that has been shown to have several positive characteristics. Ergothioneine (EGT) has promising anti-aging characteristics, paving the way for its use in various cosmetic applications. Ergothioneine (EGT) is also chemically stable and water-soluble, making it appropriate for cosmetic applications.  

Regional Classification:

The global ergothioneine (EGT) market is segmented by region into North America into USA, and Canada. South America. Europe is divided into Germany, the UK, Spain, Italy, France, Russia, and London. The Asia-Pacific region is divided into China, India, Japan, Australia, Singapore, and South Korea. The Middle East, and Africa region is divided into KSA, UAE, Qatar, and South Africa.

Ergothioneine (EGT) will be the source of new revenue streams for North-America based pharmaceutical and cosmetic companies in the upcoming years. Due to growing research into ergothioneine (EGT) and innovation in drug discoveries, its applications across various industries are increasing. Many foods and beverage startups in North America are investigating using ergothioneine (EGT) as an all-natural preservative to replace chemical-based preservatives. For example, Entia Biosciences, a Canada-based biotechnology company, has developed an ergothioneine-based preservative for food and beverages. The growing utilization across healthcare and food and beverage industries is expected to augment the growth of the North American ergothioneine (EGT) market.

The growing support of European regulatory bodies to increase the demand for ergothioneine in the region is another factor adding value to the growth of the European ergothioneine (EGT) market. The European Food Safety Authority (EFSA) approved ergothioneine as a supplement in pregnant and breastfeeding women, children, and babies due to the lack of overt effects and potential nutritional benefits. The Asia-Pacific ergothioneine (EGT) market is expected to maintain its growth momentum in the forecast period due to rising demand for skin care products and improving medical innovation in the region.

Competitive Analysis:

The global ergothioneine (EGT) market is highly competitive and consolidated with many well-established players. The major players adopt several growth strategies such as launching new research projects, collaborations and joint ventures, thereby contributing to the growth of the global ergothioneine (EGT) market.

Major Companies:

Some key companies contributing to the growth of the global ergothioneine (EGT) market include Mironova Labs, Inc., Merck KGaA, Blue California, Aktin Chemicals Inc, Xi'an Saibang Biotechnology Co., Ltd, Bloomage Bioactive, Sinonocy, Total Nutraceutical Solutions, Inc., Jiangyin Healthway International Trade Co., Ltd and Taizhou Tianhong Biochemistry Technology Co., Ltd., among others.

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