(Food-Beverage-News.Com, November 29, 2019 ) The proanthocyanidins market is estimated at USD 198 million in 2019 and is projected to reach USD 280 million by 2025, recording a CAGR of 6.0% during the forecast period. Proanthocyanidins help in healing wounds, improving bone strength, aiding skin-related issues including skin cancer, and also offer cardiovascular benefits. Hence, they are witnessing a significant demand among several manufacturers in the personal care, food & beverages to cosmetic industries. Proanthocyanidins manufacturers are witnessing a surge in demand due to various functions and applications in industries such as the personal care, dietary supplement, cosmetics, and food & beverage industries.
By source, the pine bark segment is projected to be the fastest-growing segment in the global proanthocyanidins market during the forecast period. Pine bark has several health benefits and is projected to witness strong growth during the forecast period. In emerging countries such as China, the pine bark segment is witnessing a steady growth due to an increase in the production of pine bark extracts. Furthermore, the country is one of the leading producers of pine bark. The pine bark manufacturers are focusing on enhancing their production capacities to fulfill the demands of consumers as well as to expand their reach and market share globally.
On the basis of type, the type A segment accounts for the highest demand in 2018, followed by type B proanthocyanidins. Type A proanthocyanidins reduce the invasiveness of extra-intestinal pathogenic Escherichia coli (ExPEC) in a cell culture, which reduces the risk of subsequent urinary tract infections (UTI) and promotes human health. Therefore, they are also utilized in various dietary supplements and functional food applications. Moreover, consumers nowadays are increasingly inclining towards functional food products. Therefore, several players in the global proanthocyanidins market are producing type A proanthocyanidins that cater to functional food applications.
On the basis of application, the demand for pharmaceuticals and dietary supplements remains the highest in 2019. As a result, the pharmaceuticals & dietary supplements segment is estimated to account for the largest market share, followed by the functional food & beverages and personal care & cosmetics segments. With the rise in aging population, consumers are becoming more conscious and aware of various diseases that can be prevented. Due to the increasing concerns among consumers, the pharmaceuticals & dietary supplements segment in the proanthocyanidins market is projected to witness significant growth. In addition, health-conscious consumers prefer balanced diet alternatives, such as health supplements, which is projected to contribute to the market growth during the forecast period.
North America is the fastest-growing market for proanthocyanidins; it is projected to record the highest CAGR during the forecast period. North America is a major consumer of proanthocyanidins. The rise in the aging population, increased consumption of healthy food, and growing demand for pharmaceuticals are the major factors driving the proanthocyanidins market in North America.
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