The global flavonoids market, valued at approximately US$1.5 billion in the year 2020, is set to experience a promising trajectory of growth. This growth is primarily attributed to the food industrys increasing commitment to utilizing natural food colorants.
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Rising Wellness Trend and Health Awareness Drive Flavonoids Market Demand
The integration of nutraceuticals and functional foods into mainstream consumption has gained rapid acceptance among the general population. This trend stems from heightened awareness of lifestyle-related disorders and their potential fatal consequences, leading to significant economic and social burdens. As a result, the utilization of flavonoids in functional food products has gained momentum due to their associated health benefits. Flavonoids offer valuable anti-inflammatory properties and contribute to skin health. Furthermore, these dietary antioxidants play a role in disease prevention, including cancer, cardiovascular conditions, diabetes, as well as cognitive disorders such as Alzheimers and dementia. The neutralization of free radicals by flavonoids aids in reducing inflammation. Additionally, the rising demand for pain relief, cholesterol-lowering agents, and anti-inflammatory products is projected to fuel the expansion of the flavonoids market. In light of this context, the increasing emphasis on consuming nutritionally-rich foods, aligned with the growing wellness trend in the food and beverage industry, is expected to drive sales of flavonoids.
Growing Demand for Anthocyanins to Drive Flavonoids Market
The demand for anthocyanins is anticipated to surge significantly due to their functional advantages. Widely used in the food and beverage sector for imparting colors, anthocyanins have also found their place in traditional herbal medicine due to their diverse physiological properties. These properties make them effective in treating conditions such as pyrexia, hypertension, dysentery, common cold, urinary issues, diarrhea, and liver disorders. As the usage of anthocyanins as functional food ingredients gains traction, their demand is expected to rise, consequently contributing to the expansion of the flavonoids market.
Asian Countries Present Lucrative Growth Opportunities for Flavonoids Market
The burgeoning demand for flavonoids, including anthocyanins, as natural food colorants within the food and beverage sector is a key driver behind the growth of the flavonoids market in the Asian region. Additionally, their anti-inflammatory, antioxidative, and antimicrobial properties have led to their utilization in treating a range of health conditions, including cancer, cardiovascular disorders, eye diseases, and metabolic disorders. Concurrently, the escalating prevalence of major chronic and lifestyle-related diseases, such as cancer, type 2 diabetes, cardiovascular disorders, and obesity in emerging economies across Asia Pacific, continues to stimulate the flavonoids market. For example, according to the National Centre for Biotechnology Information (NCBI), India has witnessed 77 million individuals suffering from diabetes, a number projected to exceed 134 million by 2045. Similarly, NCBI analysis indicates that cancer remains the leading cause of death in China, with approximately 4.82 million new cancer cases and 3.21 million projected deaths in 2022. This surge in chronic health conditions has driven an increased consumption of fruits and vegetables rich in flavonoids, thereby contributing to market growth.
Furthermore, flavonoids find application in various sectors, including cosmetics, nutraceuticals, functional foods, beverages, and pharmaceuticals. The rising demand for convenience foods due to hectic lifestyles, coupled with heightened health awareness and unplanned diets, has driven the utilization of flavonoids in these products. This trend is expected to amplify the demand for flavonoids, further bolstering the growth of the market in the Asia Pacific region. Conversely, developed nations in North America are also anticipated to exhibit substantial market potential for flavonoids. This can be attributed to the increasing prevalence of hypertension. Hypertension, a common lifestyle ailment in the United States, has prompted a significant proportion of the population to seek nutrient-rich foods containing flavonoids that can aid in lowering blood pressure and promoting heart health. This trend is projected to create significant opportunities for the flavonoids market in North America.
Flavonoids Market: Competitive Landscape
Key players in the flavonoids market are actively pursuing new product launches, collaborations, joint ventures, and partnerships to solidify their positions and gain a competitive edge. For instance, in 2022, Taiyom, an ingredients manufacturing company, introduced a water-soluble supplement named Sunactive IsoQ. This quercetin precursor represents a new flavonoid series launched by the company. The same year, Lantana Bio and Danish biotech firm Biosyntia established a joint venture to innovate sustainable flavonoids and utilize them for fortifying food and beverages, personal care products, and dietary supplements. Similarly, in 2021, Longevity by Nature partnered with United Natural Foods Inc. and National Sales Association LLC to expand marketing, sales, and distribution efforts, aiming to offer premium food products to consumers.
Prominent players in the global flavonoids market include Cayman Chemical Company, Foodchem International Corporation, Indena S.p.A, Merck KGaA, Extrasynthese, Toroma Organics Ltd., Quercegen Pharmaceuticals, Pharmachem Laboratories Inc., and INDOFINE Chemical Company Inc. These industry leaders continue to drive innovation and shape the trajectory of the flavonoids markets evolution and growth.
Browse Flavonoids Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: https://www.fairfieldmarketresearch.com/report/flavonoids-market
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