Flavonoids Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2457
Flavonoids Market size is likely to witness steady gains in the forecast period owing to its wide usage in functional food & beverages and dietary supplements. These are water soluble compounds which are essential pigments for producing colours in fruits, vegetables flowers and leaves.
Flavonoids are a subclass of polyphenols molecules consisting of 15 carbon atoms majorly found in plants. These are required in plants for UV filtration, insect protection, cell cycle inhibition, and nitrogen fixation. These are majorly present in various food sources such as grains, nuts, beans, grapes, strawberries, broccoli, citrus fruits, peppers, dills, and chocolates. Also, found in beverages including tea and red wine providing various health benefits.
Global functional food market demand was over 120 billion in 2016 and is likely to exceed USD 250 billion by 2024 owing to presence of various minerals, vitamins and amino acids providing health benefits and overall wellbeing. Flavonoids are present in various functional food & beverages and dietary supplements.
Increasing health care awareness along with prevention of disorders, rising disposable income and increasing working population will drive flavonoids market demand. Flavonoid rich foods help in reducing the risk of various diseases such as heart, cancer and other chronic diseases owing to high content of antioxidant which prevents body from free radical damage occurring from the exposure of certain chemicals, pollution and smoking. Rapid urbanization and rising middle class population will spur the demand for functional food and beverages will stimulate flavonoids market growth.
Growing demand for convenience food products such as frozen, dried and canned food has given rise to high utilization of flavonoids. Changing lifestyle patterns and increasing demand for dietary supplements will stimulate the flavonoids market demand.
Global skin care products industry was valued at over USD 130 billion in 2017 and is expected to reach USD 180 billion by 2024 owing to increasing spending on personal care, and rising popularity of grooming products among youngsters. Flavonoids are used in cosmetics such as creams and moisturizers for their antioxidants and soothing properties. These compounds have positive effect on maintaining healthy skin and moisturize it. It also helps in preventing formulation of wrinkles and provides protection against harmful ultra violet rays. Shifting trends of consumers towards healthy and beneficial content in the cosmetics will drive flavonoids market size.
North America driven by U.S. and Canada flavonoids market size should register significant growth owing to increasing personal care industry demand. U.S. is one of the largest exporters of personal care products in the world exceeding export value at over USD 15 billion in 2016. Strong economic growth along with changing lifestyle patterns may propel regional industry growth. Strong R&D investments in personal care products may lead to consumption of high quality products thereby stimulating market growth.
Asia Pacific led by India, Japan, South Korea, and China flavonoids market demand may witness significant growth in the near future. Rising consumer awareness on health and fitness has given rise to consumption of functional food and beverages in this region. Moreover, increasing consumption of processed foods across various developing regions of Asia-Pacific such as China and India have majorly impacted the food patterns of consumers in this region. Flavonoids are present in functional food and dietary supplements providing high benefits to the body and promoting overall wellbeing.
Europe led by U.K, Spain, France, and Germany flavonoids market size may register significant gains over the forecast period. Western European countries such as UK and Netherlands are highly engaged in the production and processing of tea. Tea consumption in Europe was valued at over 200 thousand tons in 2016 owing to rich British culture and high popularity of tea. UK drinks around 165 million cups per day which accounts to 62 billion cups per year. Tea leaves generally contains a subgroup called polyphenols which includes flavonoids and antioxidants providing various health benefits and protection of heart and cardiovascular diseases. In addition, they reduce blood pressure, cholesterol concentrations and oxidative damage which will drive regional industry growth.
Middle East, led by UAE and Saudi Arabia flavonoids market demand is likely to witness steady gains owing to rising awareness regarding beneficial product usage, increasing incidences of various disorders and growing food & beverage industry in Brazil will regional industry growth.
Global flavonoids market share is moderately fragmented with key industry participants including Foodchem International Corporation, Cayman Chemical, EXTRASYNTHESE, Quercegen Pharmaceuticals Inc., INDOFINE Chemical Company, Toroma Organics, Pharmachem Laboratories, and Indena Most of industry participants are engaged in strengthening their global presence and enhancing their product portfolio by strategic acquisitions and partnerships.
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