Global Flavonoid Market Growth Sustained by Augmented Demand for Beauty and Health Supplements

Inkwood Research estimates that the Global Flavonoid Market is evaluated to project a CAGR of 4.19% in terms of revenue during the forecasting years of 2021-2028.

"Browse 41 Market Data Tables and 42 Figures spread over 151 Pages, along with an in-depth TOC on the Global Flavonoid Market Forecast 2021-2028."

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Flavanols are compounds found in cocoa, apples, tea, and numerous other plant-based products. The market is predominantly driven by the increasing consumer demand for nutraceuticals, harboring the potential for plant flavonoids. The launch of myriad products within the cosmetics industry is also anticipated to have a positive influence on the flavonoid market. Moreover, the fundamental types of flavonoids include flavonol, flavanone, anthocyanin, and others.

Increasing Need for Beauty and Health Supplements to Fuel Market Growth

Numerous types of flavonoids are available in the form of supplements and are likely to be a good option for individuals struggling to inculcate sufficient vegetables and fruits in their diet. As an alternative source of flavonoids, dietary supplements have become increasingly popular over recent years. Besides, when consumed optimally, flavonoids have no side effects.

The growing concerns regarding elevated cholesterol levels and obesity among adults over the age of 35, especially in developed and developing markets, are anticipated to play a vital role in propagating the health & wellness segment's growth.

On the other hand, the beauty supplements market is continually proliferating and has witnessed a significant increase fueled by the expansion of the high-income class. Furthermore, organic and natural beauty products observe a growing demand, as well. Flavonoids possess free-radical scavenging activities and antioxidants, thereby making them an essential component in supplements.

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Nutraceuticals to Lead and Dominate the Market by 2028

Nutraceuticals include functional beverages, functional foods, as well as dietary supplements. The highest growth rate of nutraceuticals is primarily accredited to the increasing demand for flavonoids across the functional food division. Nutraceuticals are gaining traction and becoming a part of the average consumer's regular diet. The upsurge in adoption is mainly due to the growing prevalence of lifestyle-associated diseases globally, the increasing life expectancy, and insufficient nutrition.

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North America to be the Dominating Region Over the Forecast Period

North America accounted for the highest revenue share in 2020. The significant market growth is ascribed to the increasing number of health-conscious consumers and the developments across the functional foods, pharmaceutical, and nutraceutical divisions.

The global flavonoid market is continually augmenting, with numerous companies striving to acquire a considerable competitive advantage by using such ingredients in their innovations and products. Also, regional players are establishing efforts to increase the present supply chain and guarantee enhanced product distribution. Hence, the competition is anticipated to be high. Some of the prominent companies operating in the market are Bioriginal Food & Science Corp, Cayman Chemical Company, Bordas SA, etc.

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This release was published on openPR.