(Food-Beverage-News.Com, September 26, 2017 ) Further, the application of flavonoid in the anti-cancer drug is expected to be one of the major factors driving the market. The growing demand for convenience food products has increased the use of flavonoids in functional food. Moreover, the smoothing and antioxidant properties of flavonoids are useful in the cosmetics industry for skin care applications. In emerging economies, the growing demand for longer shelf life of convenience food and aged population are expected to fuel the growth of flavonoid market. In addition, the increased usage of flavonoids, as a coloring agent for food & beverages, is expected to support the demand for flavonoid market in the near future.
Anthocyanins, anthoxanthins and flavones are some of the most common types of flavonoids. Anthocyanins accounted for the major share of 42% in the flavonoid market, worldwide. The increasing use of anthocyanin, as a coloring agent in the food & beverage industry, is the major driving factor. Flavonoids are used in numerous applications such as functional food and beverages, nutraceuticals, cosmetics and pharmaceuticals. The functional food held the largest market share of over 30%, in terms of value. The functional beverages segment is expected to register a CAGR of over 9% by 2022.
North America Leading the Regional Front
North America was the largest market in terms of value, accounting for more than 38% of the global revenue in 2015. Several preventable, diet-related chronic ailments including cardiovascular diseases, overweight, type 2 diabetes and obesity are highly prevalent in this region. Further, these health issues have increased the demand for flavonoids. The developed countries characterized by the high cancer prevalence include Australia, Belgium, Denmark, France, Norway and the United States. Owing to the increased nutraceutical products consumption in Asia-Pacific, the demand for flavonoids that was over USD 110 million in 2015, is expected to witness a rapid growth. Moreover, Europe, Germany and France are expected to account for the largest market share followed by the United Kingdom. Further, South America and Africa will experience a lucrative market growth, which is attributed to the growing awareness of antioxidant usage and incidences of various disorders. The rapidly escalating food & beverage market, in Brazil, contributes to the growth of flavonoids in the South American market.
Most of the market players are focusing on R&D and new product development, thus, an increase in the product consumption is expected during the forecast period.
The key market participants for flavonoids include:
Foodchem International Corporation Cayman Chemical Company Quercegen Pharmaceuticals Inc. Toroma organics Ltd. Pharmachem Laboratories Inc. Phytocompounds INDOFINE Chemical Company Extrasynthese Organic Herb Inc. Indena S.p.A.
Further, the Cayman Chemical Company, in order to strengthen its European market position, acquired Biomol GmbH, a Germany-based distributor of research reagent chemicals.
Our Report on the Global Flavonoid Market covers:
Market, trends & dynamics Latest News & developments Porter's five forces analysis Investment scope Deep-dive insights Table of Contents:
Introduction Research Approach and Methodology Market Overview Market Dynamics Market Segmentation Competitive Landscape List of Company Profiles Appendix
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