The global flavonoid market will reach a valuation of US$ 1.1 billion in 2024, attributed to factors such as e-commerce expansion. The trend is set to create new opportunities for the market, leading to a projected CAGR of 7.7% between 2024 and 2034, and reaching a total valuation of approximately US$ 2.3 billion by 2034.
Changing consumer lifestyles, including increased interest in plant based diets, clean eating, and wellness focused lifestyles, are driving demand for flavonoid rich foods, beverages, and supplements. Manufacturers are capitalizing on these lifestyle trends by launching innovative products that meet consumer preferences.
Advancements in delivery systems, such as nanotechnology and encapsulation techniques, are improving the bioavailability and stability of flavonoids in food, beverage, and supplement formulations. Novel delivery systems enable targeted delivery of flavonoids to specific tissues or organs, enhancing their therapeutic potential.
The rise of health and wellness tourism presents opportunities for the flavonoid market, particularly in destinations known for their natural sources of flavonoids. Wellness resorts and retreats may incorporate flavonoid rich foods and beverages into their offerings to cater to health conscious travelers.
Research exploring the potential benefits of flavonoids for mental health and cognitive function is gaining attention. There is a potential opportunity for flavonoid rich products targeting brain health and cognitive enhancement to gain traction in the market, as awareness of mental health issues grows.
The increasing popularity of plant based diets and the demand for meat alternatives present an opportunity for flavonoids to be incorporated into plant based meat substitutes. Flavonoids can enhance the nutritional profile and sensory characteristics of these products while providing health benefits.
Manufacturers are innovating with product formulations to create convenient and appealing flavonoid rich products, such as flavored waters, gummies, and snack bars. The innovative formulations cater to consumer preferences for on the go consumption and variety in product offerings.
Research into the potential health benefits of flavonoids for specific health conditions, is fuelling the demand for flavonoid rich products targeted at managing or preventing these conditions.
Personalized nutrition approaches may leverage flavonoids as part of tailored dietary interventions. Flavonoids are increasingly being incorporated into skincare and cosmetic products due to their antioxidant and anti-inflammatory properties, which are beneficial for skin health.
Key Takeaways from the Market Study
- Global flavonoid market was valued at US$ 0.8 billion in 2019.
- From 2019 to 2023, the market demand expanded at a CAGR of 7.3%.
- The market in India to expand at a CAGR of 7.5% through 2034.
- By product type, the anthocyanin segment to account for a share of 29.3% in 2024.
- The market in China will expand at a CAGR of 2.4% through 2034.
- In terms of application, the food and beverage segment to account for a share of 43.4% in 2024.
“The expansion of the beauty and cosmetics market presents opportunities for flavonoid based ingredients to be used in anti-aging creams, serums, and other skincare formulations,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the flavonoid market are BORDAS S.A., Biosynth Carbosynth, Nans Products, J&K Scientific Ltd, Cayman Chemical Company, Inc., Nacalai Tesque Inc, Santa Cruz Biotechnology, Inc., Ingredients by Nature LLC, Merck KGaA, Hunan Yuantong Pharmaceutical Co., Ltd., MORRE-TEC Industries, YAAN TIMES BIOTECH, and Conagen, among others.
Key Development
- In 2022, Layn Natural Ingredients, launched a novel natural antioxidant flavonoid named bio+quercetin.
- Derived from Sophora japonica, the flavonoid is specifically crafted to offer enhanced bioavailability, providing greater efficacy for various applications in the nutraceutical sector.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global flavonoid market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the flavonoid market, the market is segmented on the basis of type (flavones, anthocyanin, flavanols, anthoxanthin, flavan-3-ols, isoflavones), and application (food and beverage, dietary supplements, pharmaceuticals, cosmetics and personal care, animal feed), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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