Zion Market Research has published a new report titled “Flavonoids Market (Anthocyanins, Flavones, Anthoxanthins, Flavanones, Isoflavones, and Chalcones) for Pharmaceutical, Food and Beverages, Nutraceuticals and Animal Feed: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global flavonoids market was valued at over USD 840.2 million in 2015, is expected to reach above USD 1047.63 million in 2021 and is anticipated to grow at a CAGR of slightly above 3.75% between 2015 and 2021.
Flavonoids are one of the highly consume phytonutrient from in fruits and plants. It is the pigmentation factor in plants which provide colors to the flowers and act as UV filtration in higher plants. They are also secondary metabolites of plants and fungus. Until now, approximately 5000 flavonoids have been discovered among which only a few are utilized as the coloring agent or antioxidant and preservative. Flavonoids reduce estrogen hormone which averts prostate, breast and many other types of cancer.
There has been the huge demand for junk food due to changing lifestyle which in turn has led to the potential growth of disorders such as obesity and high cholesterol. Hence, raising awareness regarding health consciousness among the young generation is driving the flavonoids market. Surging discretional income and easy availability of functional foods is expected to positively impact the growth of flavonoids market in the near future. Also, diverse applications of flavonoids in food and beverage industry and nutraceuticals industry help in bolstering the growth of flavonoids market. Surplus consumption of flavonoids can switch the flavonoids to mutagens which may obstruct the growth of flavonoids market. Nonetheless, untapped market of flavonoids in the emerging countries is likely to offer ample opportunities for flavonoids market in coming years.
Some of the major flavonoids types are anthocyanins, flavones, anthoxanthins, flavanones, isoflavones, and chalcones. Anthocyanins are considered as the major revenue generator segment due to the huge demand for anthocyanins from the food industry. Anthocyanins act as natural coloring agents in food and beverage industry. Flavones are expected to be the accelerated segment in the coming years. Flavonoids can be used as antioxidants, anti-inflammatory, coloring agent and as preservatives in the food industry. Some of the widespread applications of flavonoids are pharmaceutical, food and beverages, nutraceuticals and animal feed. Among all, nutraceuticals are the leading segment in the flavonoids market with significant market share. The use of flavonoids as the functional food and food supplements for lowering weight and cholesterol spur the flavonoids market in nutraceuticals.
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The flavonoids market was dominated by North America in 2015 and was considered to be the highest revenue generating region. This was mainly due to the hectic lifestyle of the population in this region which led to several disorders, which resulted in high consumption of antioxidants supplements. The number of obese and patients suffering from depression in this region is rising which is aiding the growth of flavonoids market in North America. Europe was the second largest market for the flavonoids in 2015 due to escalating health complexity owing to high blood cholesterol level and growing aging population in this region.
Emerging economies such as India, China, and Japan are expected to be the most prominent markets in the near future due to increasing expenditure capacity of the maximum population of the functional food. Moreover, rising concern for health is mounting in these economies. This contributes to the growth of the flavonoids market significantly. Latin America exhibits lucrative growth over the period of years due to changing lifestyle and growing preference of consumers towards the functional foods. The Middle East and Africa consist of abundant of raw sources of flavonoids and diverse antioxidants which are projected to propel the growth of the market in the forecast period.
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Kemin Industries, Foodchem International Corporation, EXTRA SYNTHE SE, Meherrin Agricultural & Chemical Company, Cayman Chemical Company, Quercegen Pharmaceuticals, International Flavors and Fragrances, Aquapharm Bio-Discovery Limited and Indofine Chemical Company Inc among others are some of the major players in the flavonoids market.
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