Global Flavonoids Market - 2023-2030
The global flavonoids market reached US$ 1,336.8 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 2,436.2 million by 2030. The market is growing at a CAGR of 5.6% during the forecast period (2023-2030).
The rising levels of demand for sweetening and coloring agents as well as the increased awareness of the benefits of beauty and health supplements are the main factors propelling the growth of the flavonoids market. Aside from changing consumer preferences for food products with longer shelf lives, other significant factors influencing the growth of the flavonoids market include the evolution of lifestyle and the growth and expansion of the pharmaceuticals sector.
Market DynamicsIncreasing Demand for Flavonoid-rich pRoducts Drives the Market Growth
As consumers become more health-conscious and seek for natural remedies for their ailments, the popularity of flavonoid-rich supplements and functional foods has increased significantly. This trend has opened up new opportunities for businesses operating in the flavonoid market, as they are able to cater to the growing demand for these products. In order to capitalize on this trend, companies will need to invest in research and development to create innovative new products that meet the evolving needs of consumers, while also maintaining high-quality standards and ensuring regulatory compliance.
Growing Demand for Natural and Organic Ingredients in Food and Beverage Products Drives the Market Growth
Consumers are becoming increasingly aware of the potential health benefits of consuming natural ingredients, and are looking for products that are free from synthetic additives and preservatives. This trend is particularly evident in the food and beverages industry, where companies are responding by incorporating more natural and organic ingredients into their products. As a result, businesses that can offer high-quality flavonoid ingredients that meet consumer demand for natural and organic products are well-positioned to capitalize on this growing flavonoids market.
COVID-19 Impact AnalysisThe pandemic has disrupted global supply chains, manufacturing processes, and distribution channels, leading to logistical challenges and higher costs for businesses operating in the flavonoids market. However, the increased focus on health and wellness during the pandemic has led to a surge in demand for natural and organic ingredients, including flavonoids, as consumers seek to boost their immune systems and overall health. This has led to increased sales of flavonoid-rich supplements, functional foods, and beverages.
Segment AnalysisThe global flavonoids market is segmented based on product type, application, and region.
Increasing Consumption of Anthocyanidins in Various Industries
Anthocyanidins segment held the largest global flavonoid market share due to their widespread applications in various industries, including food and beverage, pharmaceuticals, and cosmetics. As such, they are in high demand as ingredients in supplements, functional foods, and beverages, as well as in pharmaceutical products and cosmetics. The versatility of anthocyanidins and their growing popularity as a natural and healthy ingredient in a variety of products have contributed to their dominance in the global flavonoid market.
Geographical AnalysisThe Strong Presence of Key Players in Asia Pacific
The Asia-Pacific region has dominated the global favonoids market, accounting for a significant share of both production and consumption. The Asia-Pacific region has several key players in the flavonoids market, such as Archer Daniels Midland Company, Cayman Chemical Company, and Indena S.p.A. These companies have a strong presence in the region and have been able to leverage their expertise to gain a significant market share.
Competitive LandscapeThe major global flavonoids market players include Kemin Industries, Foodchem International Corporation, EXTRA SYNTHE SE, Cayman Chemical Company, Quercegen Pharmaceuticals, International Flavors and Fragrances, Aquapharm Bio-Discovery Limited, Pharmachem Laboratories Inc., Toroma organics Ltd, and Merck KGaA.
Why Purchase the Report?• To visualize the global flavonoids market segmentation based on product type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of flavonoids market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global flavonoids market report would provide approximately 53 tables, 53 figures, and 106 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies