The Global Flavonoids Market is expected to reach USD 1.06 billion by 2025, according to a new report by Hexa Reports. Changing consumer lifestyles and rising demand for beauty & health supplements are expected to propel flavonoids consumption over the forecast period.
Developed countries such as Denmark, France, Australia, Belgium, Norway, and the U.S. are characterized by high cancer prevalence. Application of flavonoid as an anti-cancer drug is expected to be the major factor driving growth in these countries, over the forecast period.
Rising demand for convenience food products has increased utilization of flavonoids in functional food. Moreover, smoothing and antioxidant properties allow it to be used in the cosmetics industry for skin care applications. These are also being used to develop drugs for the treatment of various other diseases including diabetes and cardiovascular problems, prevailing worldwide, further increasing demand.
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Further key findings from the report suggest:
Anthocyanins were the most commonly consumed flavonoids in 2015 with a market share of over 40% in 2015. Growing demand from the nutraceuticals and functional food segment is expected to drive this market over the forecast period.
The functional beverages segment is expected to grow at a CAGR of over 12% from 2016 to 2025, in terms of revenue. Antioxidant properties of this product are now being introduced in non-alcoholic beverages including soft drinks, nutraceutical drinks, and energy drinks, propelling demand in this application.
The flavonoids market in functional foods was valued over USD 130 million in 2015 on account of anti-diabetic and anti-carcinogenic properties which are expected to increase their consumption in nutraceutical and functional food products.
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North America demand is expected to rise on account of rapid economic development with the U.S. and Canada being major nutraceutical markets in this region, triggering growth over the forecast period.
The market in Central & South America is projected to grow at the second highest CAGR of over 9% from 2016 to 2025, driven by growing demand from emerging economies such as Brazil and Argentina.
In January 2016, Cayman Chemical Company, one of the leading manufacturers of this product, acquired Biomol GmbH, a Germany-based distributor of research reagent chemicals. This acquisition helped the company strengthen its position in Europe.
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