Global Flavonoid Market - Growth, Trends and Forecasts (2018 - 2023)
The changing lifestyles of consumers and growing demand for beauty & health supplements are expected to propel the flavonoids consumption. The global flavonoid market is expected to cross USD 1 billion by 2025. Changing consumer lifestyles and rising demand for beauty & health supplements are expected to propel flavonoids consumption over the forecast period (2018-2023). Phenolic acids, flavonoids, stilbenes and lignans are the most abundantly occurring polyphenols in plants, of which flavonoids and phenolic acids account for 60% and 30% of total dietary polyphenols respectively.
Flavonoids prevent cancer cell growth, cure stomach ulcers and have anti-microbial properties, thus, preventing infections. Further, the application of flavonoid in the anti-cancer drug is expected to be one of the major factors driving the market. The growing demand for convenience food products has increased the use of flavonoids in functional food. Moreover, the smoothing and antioxidant properties of flavonoids are useful in the cosmetics industry for skin care applications. In emerging economies, the growing demand for longer shelf life of convenience food and aged population are expected to fuel the growth of flavonoid market. In addition, the increased usage of flavonoids, as a coloring agent for food & beverages, is expected to support the demand for flavonoid market in the near future.
Anthocyanins, anthoxanthins and flavones are some of the most common types of flavonoids. Anthocyanins accounted for the major share of 38.5% in the flavonoid market, globally. The increasing use of anthocyanin, as a coloring agent in the food & beverage industry, is the major driving factor. Flavonoids are used in numerous applications such as functional food and beverages, nutraceuticals, cosmetics and pharmaceuticals. The functional food held the largest market share of over 30%, in terms of value. The functional beverages segment is expected to register a CAGR of over 9.1% by 2023. In animal systems, plant-produced flavonoids are important dietary components, and are known to possess a broad range of properties including antibacterial, antifungal, antiviral, and anticancer properties.
North America was the largest market in terms of value, accounting for more than 38% of the global revenue in 2015. Several preventable, diet-related chronic ailments including cardiovascular diseases, overweight, type 2 diabetes and obesity are highly prevalent in this region. Further, these health issues have increased the demand for flavonoids. The developed countries characterized by the high cancer prevalence include Australia, Belgium, Denmark, France, Norway and the United States. Owing to the increased nutraceutical products consumption in Asia-Pacific, the demand for flavonoids that was over USD 110 million in 2015, is expected to witness a rapid growth. Moreover, Europe, Germany and France are expected to account for the largest market share followed by the United Kingdom. Further, South America and Africa will experience a lucrative market growth, which is attributed to the growing awareness of antioxidant usage and incidences of various disorders. The rapidly escalating food & beverage market, in Brazil, contributes to the growth of flavonoids in the South American market.Major PLAYERS: CAYMAN CHEMICAL COMPANY, QUERCEGEN PHARMACEUTICALS, FOODCHEM INTERNATIONAL CORPORATION, INDOFINE CHEMICAL COMPANY, INC., EXTRASYNTHESE, TOROMA ORGANICS LTD., PHARMACHEM LABORATORIES INC., ORGANIC HERB INC., PHYTOCOMPOUNDS, INDENA S.P.A, KEMIN INDUSTRIES, MEHERRIN AGRICULTURAL & CHEMICAL COMPANY,AQUAPHARM BIO-DISCOVERY LIMITED, FLAVON GROUP LLC., ALCHEM INTERNATIONAL LTD. and FRONTIER NATURAL PRODUCTS CO-OP, amongst others.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook