Flavonoid Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Flavonoid Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global Flavonoid market is projected to grow at a CAGR of 3.9 % during the forecast period (2022-2027).

The demand for flavonoid was high at the time of COVID-19 as flavonoid were highly used in dietary supplements as people were conscious of their health and wellness with this outbreak, and as flavonoid contains nutritional and health benefits, these were high in demand. The flavonoids industries play a major role in maintaining the economic growth of countries at the time of COVID-19and several giant manufacturers were boosting the market by launching new products and solutions, systematic approaches towards investment, and continuously working on R&D budgets.

Changing consumer lifestyles and rising demand for beauty & health supplements are expected to propel flavonoid consumption over the forecast period. The growing demand for convenience food products has increased the use of flavonoids in functional food. There is a growing demand for natural and organic beauty products. The flavonoid market was maintaining its growth at the time of COVID-19 due to its high level of antioxidants and beneficial anti-inflammatory factors. It is highly recommended in the market.

Flavonoids are commonly used in cosmetics due to their positive effect on maintaining skin healthy and young. Creams and cosmetic products containing these compounds smoothen the skin and moisturize it, prevent wrinkles, help in collagen synthesis, have anti-edema properties, and protect against UV rays. The market is driven by the growing consumer demand for nutraceuticals, which holds potential for plant flavonoids. Thus, the launch of various products in the cosmetics industry is expected to have higher growth as the demand for cosmetic products is always high in developing countries.

Key Market TrendsFlavonoid Application Used in Anti-Cancer Drug​

The increasing use of anthocyanin as a coloring agent in the food & beverage industry is the major driving factor. Various studies have depicted that scientists of various countries have suspected catechins might be useful in aiding chronic fatigue syndrome symptoms. Catechins are also associated with cardiovascular and neurological health. ​The rising interest in dietary flavonoids owing to their beneficial health factors comes up from the consumption of vegetables and fruits led to the producers of food commodities filled with flavonoids. Though flavonoids exhibit powerful antioxidant activity, they exist in a relatively low concentration in the bloodstream when compared to antioxidants, like vitamin C and vitamin E, according to World’s Healthiest Foods. This may lower their overall antioxidant power and, thus, lessen their cancer-fighting effects. ​ Flavonoids are used in numerous applications such as functional food and beverages, nutraceuticals, cosmetics, and pharmaceuticals. 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.

Asia-Pacific is the Largest Market Share

Asia-Pacific dominated the market within that China holds a major share owing to its highest consumer base for the nutraceutical and beauty supplements in the world, competing with other countries and other stabilized markets.​ However, several preventable, diet-related chronic ailments, including cardiovascular diseases, overweight, type 2 diabetes, and obesity, are highly prevalent in the Asia-Pacific region. Further, these health issues have increased the demand for flavonoids. Food safety has always been a concern in China as the government is forming strict food safety rules for the food producers in order to maintain a hygienic and safe environment in the region.​ With the rising level of awareness in the markets of Asia-Pacific regarding different food and beverage categories, the consumers in the region are becoming more concerned about the category of ingredients being incorporated into the products.​ Furthermore, various Asian consumers prefer having any convenience food due to their busy and hectic lifestyle, which has increased the demand for canned and processed food commodities and has increased the utilization of flavonoids in functional food.

Competitive Landscape

The global flavonoid market is competitive with various major players in the market like Foodchem International Corporation, Cayman Chemical Company, Merck KGaA, Indena S.p.A, and Extrasynthese, among others. The manufacturers are majorly concentrating on enhancing their product quality to obtain a competitive edge over other players in the market. Advanced distribution network and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide. With increased industry regulation worldwide, the launching of new products, mergers, and acquisitions have also increased, which are the major cause of acquiring a huge share in the market.

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