Flavonoid Market to See Huge Growth | Reach $2,717.8 Million by 2030

According to the key market players, changes in lifestyles and a rise in concern regarding health and beauty are encouraging consumers to seek non-invasive and effective solutions. Therefore, the manufacturers are investing in R&D activities and making continuous efforts to launch new and improved ingredients for nutraceutical producers to help them in meeting the rising global demand of consumers for improved nutritional supplements. Thus, this factor promotes the use of flavonoids in the nutraceuticals industry.

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The global flavonoid market size was valued at $1,497.7 million in 2020, and is projected to reach $2,717.8 million by 2030, registering a CAGR of 6.2% from 2021 to 2030.

Some of the key players in the flavonoid market analysis includes Archer-Daniels-Midland Company, Artemis International, BASF SE, Eevia Health, Enomark Biotech, Givaudan International SA, Indena S.p.A, Natac , Nexira, and Xi'an Yuensun Biological Technology Co., Ltd.

Additionally, the aging population is expected to provide lucrative opportunities for the expansion of cosmetic industry in the countries like Japan, Latin America and others. According to WHO, the population in Latin America is aging at a rapid pace. Thus, this in turn is likely to offer immense opportunity for the growth of flavonoid market from the cosmetics industry during the flavonoid forecast period in terms of value sales.

In addition to this, consumption of flavonoid as a supplement have resulted in positive outcomes, particularly in patients who are on statin medications. Thereby, the aforementioned factors are expected to drive the growth of the flavonoid market during the forecast period in terms of value sales.

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The outbreak of coronavirus has positively impacted the flavonoid industry along with all stages of supply chain and value chain. Owing to the COVID-19 outbreak consumers all around the world became health conscious and in order to boost their immunity power consumers were getting more inclined towards the consumption of supplements made of invasive ingredients including flavonoid which in turn has boost the demand for flavonoid from the nutraceuticals industry. This, in turn, has made a positive impact on growth of the flavonoid market.

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for partnership strategies to strengthen their foothold in the market. To understand the key flavonoid market trends, strategies of leading players are analyzed in the report.

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The global flavonoid market is segmented are categorized into product type, form application and region. By product type, it is classified into isoflavones, anthocyanin and others. By form, the market is bifurcated into powder and liquid. By application, it is divided into pharmaceuticals, nutraceuticals, food & beverages and cosmetics. Region wise, the market is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina and Rest of LAMEA).

Key findings of the study

By product type, the isoflavones segment accounted for the highest flavonoid market share in 2020, growing at a significant CAGR from 2021 to 2030.
By form, the powder segment accounted for the highest flavonoid market share in 2020, growing at a CAGR of 6.0% from 2021 to 2030.
By application, the pharmaceutical segment accounted for the highest flavonoid market share in 2020, growing at a CAGR of 5.3% from 2021 to 2030.
By region, North America occupied the maximum share in the market in 2020 and is expected to be the dominating segment during the flavonoid market forecast period.

Related Reports:
Caffeine Market: https://www.globenewswire.com/en/news-release/2023/02/17/2610764/0/en/Global-Caffeine-Market-Is-Expected-to-Reach-1-2-Billion-by-2031-Says-AMR.html

Vegan Food Market: https://www.globenewswire.com/en/news-release/2022/06/22/2467245/0/en/Global-Vegan-Food-Market-to-Reach-36-3-Billion-by-2030-Allied-Market-Research.html

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