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.
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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.
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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technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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