The proanthocyanins market is estimated to account for a value of USD 198 million in 2020 and is projected to grow at a CAGR of 6.0% from 2020, to reach a value of USD 280 million by 2027. Rapid advances made in dietary supplement industry, especially in developing countries, are propelling the growth of the Proanthocyanins market. Over the past few years, there has been widespread awareness about dietary interventions to control lifestyle associated diseases. The rising incidence and prevalence of lifestyle related diseases such as diabetes and cardiovascular conditions has been bolstering the demand for supplements containing Proanthocyanins. The rising demand for food products with anti-cancer properties in populations across the world is also fuelling the demand for proanthocyanidin-rich food products.
Proanthocyanins are a class of flavonoids gathering steam as dietary supplements among worldwide consumers on account of their substantial nutritional value and therapeutic benefits. The nutrient has been found to be helpful in treating a range of health conditions such as hypertension, improving capillary strength in diabetics, and treating sunburn. In a few clinical trials, the compound has been found to have therapeutic effects in delaying progression of diabetic retinopathy, and in treating chronic venous insufficiency and varicose veins. Proanthocyanins are also being used in numerous application areas in the food and beverages, and personal care and cosmetics industries. They are usually derived from plant sources including from grapes, apples, cranberries, pine bark, and blueberries.
Efforts of manufacturers to back nutritional benefit claims through in-vitro studies prove as a strong underpinning to the demand for Proanthocyanins as dietary supplements. However, manufacturers are still grappling with low level of market penetration owing to limited consumer awareness. The rising application of Proanthocyanins in the food and beverages industry is also aiding in the expansion of the market. The rising disposable incomes of people in developing countries, coupled with rising level of awareness about the vast therapeutic benefits of dietary supplements, underpins latent opportunities for market players to capitalize on during the assessment period.
The key players in the Proanthocyanins market include Naturex (France), Indena SPA (Italy), Nexira Inc. (France), Polyphenolics (US), Xian Yuensun Biological Technology Co.,Ltd. (China), Natac (China), Eevia Health (Finland), Fruit D'or (Canada), Scott Laboratories (US), Elementa Food Ingredients (France), and Changsha Botaniex Inc. (China). Market leaders such as Naturex (France) and Nexira (France) are focusing on tapping the potential markets through new product development launches, expansions, and investments.
On the basis of geography, the Proanthocyanins market is segmented into North America, Latin America, Europe, Asia-Pacific, and MEA. Globally, among all regions, North America is expected to be the largest market for the Proanthocyanins, followed by Europe over the forecast period. In North America, U.S. is the most dominating segment and is expected to contribute maximum revenue in the coming four to five years due to the relatively high consumption owing to the high daily intake of Proanthocyanins in the in the U.S. population. However, Asia Pacific is anticipated to witness rapid growth over the forecast period owing to rising consumer awareness of Proanthocyanins rich products and growing consumer preferences for the food products rich in nutritional content in countries such as China and India
Report : Proanthocyanins Market - By Type (Cranberry, Grape Seed, Pine Bark, Others), By Application (Pharmaceuticals & Dietary Supplements, Personal Care & Cosmetics, Functional Food &Beverages), By Source (Type A, Type B), And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027