What is the current size of the Flavonoid market?
The global flavonoid market size was US$ 1,711 million in 2021. The global flavonoid market is forecast to grow to US$ 2,900 million by 2030, registering a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
Flavonoid is a type of polyphenol found in plants that possess antioxidant properties. The pigments or colors in vegetables, fruits, and flowers are largely due to flavonoids. Isoflavones, anthocyanin, and other flavonoid products are commonly synthesized for industrial use. In addition, it is also generally used to treat cardiovascular disorders, cancer, arthritis, obesity, hypertension, and other illnesses.
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Factors Influencing the Market
- The growing demand for novel pharmaceuticals is driving the growth of the global flavonoid market. In addition, increasing awareness regarding health and natural products will fuel the growth of the global flavonoid market.
- Flavonoids have a number of promising biochemical and antioxidant qualities, which help cure cancer, Alzheimer’s disease (AD), atherosclerosis, and others. All of these factors are forecast to contribute to the growth of the global flavonoid market.
- Flavonoids find their applications in a variety of other industries, such as nutraceuticals and food and beverage. Thus, the demand for flavonoids is likely to rise during the study period. Furthermore, increasing inclination towards convenience foods, including frozen, dried, and canned foods, are likely to offer ample growth opportunities for the global flavonoid market.
- Growing urbanization and rising working population are likely to benefit the global flavonoid market.
Regional Analysis
North America holds the highest market share in the global flavonoid market. The growth of this region is attributed to the increasing consumption of flavonoids as a supplement. In addition, the increasing cases of disorders like excessive cholesterol, high blood pressure, coronary heart disease, atherosclerosis, and congestive heart failure are likely to create potential scope for the flavonoid market. In addition, the increasing demand for frozen food in the region will surge the growth of the flavonoid market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic has positively influenced the global flavonoid market. The demand for novel pharmaceuticals increased abruptly, which fueled the growth of the global flavonoid market. In addition, the inclination towards frozen foods also grew. As a result, the global flavonoid market witnessed significant growth opportunities due to the pandemic.
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Competitors in the Market
- Cayman Chemical Company
- Foodchem International Corporation
- INDOFINE Chemical Company, Inc.
- Extrasynthese
- Toroma Organics Ltd
- Pharmachem Laboratories Inc.
- Organic Herb Inc.
- Phytocompounds
- Indena S.p.A
- Other prominent players
Market Segmentation
The global flavonoid market segmentation focuses on Type, Application, and Region.
Global Flavonoid Market, By Type:
- Anthocyanins
- Flavones
- Anthoxanthins
- Flavanones
- Isoflavones
- Chalcones
Global Flavonoid Market, By Application:
- Pharmaceutical
- Food and Beverages
- Nutraceuticals
- Animal Feed
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Global Flavonoid Market, By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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