The latest report by IMARC Group, titled “Flavonoids Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global flavonoids market size reached US$ 1.2 Billion in 2022. Flavonoid is a natural polyphenolic compound that adds pigment to fruits and vegetables, such as citrus fruits, peppers, grapes, kale, onions, and dill. They are extracted from the bark, roots, stems, and flowers of the plants and are widely utilized as coloring and ultraviolet (UV) protection agents in functional foods, dietary supplements, and pharmaceutical and cosmetic products. They possess anti-aging, antioxidant, anti-edema, and anti-inflammatory properties that prevent the formation of wrinkles, smoothen and moisturize the skin, and promote collagen synthesis. Owing to these properties, flavonoids find extensive applications across cosmetics, food, and beverage (F&B), pharmaceuticals and other industrial verticals across the globe.
Global Flavonoids Market Trends:
The market is primarily driven by the expanding food and beverage (F&B) industry across the globe. Flavonoids are widely utilized in ready-to-eat (RTE), packaged, and processed food items. In addition, the rising product adoption in pharmaceutical products and supplements due to its antifungal, antibacterial, antiviral, and anticancer properties is contributing to the market growth. Besides this, flavonoids are utilized as additives in animal feed to maintain pH balance, alter microbial activity, and modify protein degeneration in animals. Moreover, the shifting consumer preference toward premium-quality cosmetics and skin-care products is also accelerating the product adoption rate as flavonoids assist in protecting and reversing the damage caused by UV rays, pollution, and sunlight. Furthermore, the rising expenditure capacities of the consumers and extensive research and development (R&D) activities conducted by the leading market players are other factors creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 1.7 Billion by 2028, exhibiting a CAGR of 5.6% during the forecast period (2023-2028).
- Based on the type, the market has been categorized into anthocyanin, flavones, flavan-3-ols, flavonol, anthoxanthin, isoflavones, and others.
- On the basis of the form, the market has been bifurcated into powder and liquid.
- Based on the application, the market has been classified into food and beverages, pharmaceutical, cosmetics, animal feed, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Alchem International Pvt. Ltd., Bordas S.A., Cayman Chemical Company, Extrasynthese, Flavon Usa LLC, Indena S.p.A., INDOFINE Chemical Company Inc., Nutralliance, Merck KGaA, and Quercis Pharma AG.
|Base Year of the Analysis
||Type, Form, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alchem International Pvt. Ltd., Bordas S.A., Cayman Chemical Company, Extrasynthese, Flavon Usa LLC, Indena S.p.A., INDOFINE Chemical Company Inc., Nutralliance, Merck KGaA and Quercis Pharma AG
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