Flavonoids Market Size, Share, Growth, and Industry Analysis, By Type (Hesperidin, Daidzein, Catechin, Genistein, and Others), By Application (Pharmaceutical, Food and Beverages, Dietary Supplements, Feed Additives, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Flavonoids Market Report Overview

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The global flavonoids market size was USD 202.6 million in 2022 and is expected to touch USD 278.54 million by 2031, exhibiting a CAGR of 3.6% during the forecast period.

Flavonoid is a plant with antioxidant properties and is primarily found in fruits, flowers, and vegetables and helps change pigments and colors. These colors are high in antioxidants and protect plants from environmental stress. Flavonoids are industrially produced in isoflavones, anthocyanins, and other formats. Additionally, it is usually used for cancer treatment, obesity, cardiovascular diseases, hypertension, and other illnesses.

Flavonoids are antioxidants that boost the immune system and contain anti-inflammatory properties. The rising demand for dietary options due to medicinal benefits has increased food production with flavonoids. The product is also frequently used in food processing to extend the shelf life of products. The oxidant property helps prevent chronic illnesses such as cancer, often caused by the oxidation of radical compounds.

COVID-19 Impact: Food Production Industry Shutdown Impeded Market Growth

The market need for the product is expected to increase during the forecast period. The global COVID-19 pandemic was unprecedented & staggering, with flavonoids experiencing lower-than-anticipated demand across regions compared to pre-pandemic times. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels after two years.

The worldwide shutdown of food industries, especially in developed countries, severely impeded the industrial growth of the product. The rising inflation decreased spending capacity, and disposable income were the major factors that hampered the market growth and development prospects. The significant factors restraining market growth were supply chain disruptions, closure of production, manufacturing, and lack of resources due to industrial shutdowns and lack of workers.

LATEST TRENDS

"Increasing Awareness of Health Benefits to Drive Market Sales"

Flavonoids have various health benefits, and growing awareness of their health benefits is spurring demand in the market. Furthermore, the increasing demand for anti-inflammatory products, such as pain-relieving products, is expected to propel the market's growth over the forecast period. Some of the product's health benefits are reduced inflammation, heart disease prevention, and blood sugar control. Thus, this trend in the food and beverages sector will positively impact flavonoid sales during the forecast period.

Flavonoids Market Segmentation

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• By Type

The market is categorized based on types into hesperidin, daidzein, catechin, genistein, and others.

• By Application

The market is subcategorized based on other applications into pharmaceuticals, food, and beverages, dietary supplements, feed additives, and others.

DRIVING FACTORS

"Rising Preference in Developed Countries to Boost Sales"

Personal care and cosmetics products with natural ingredients are in high demand, and this trend will augment the flavonoids market growth. Natural ingredients are becoming preferable in traditional care and cosmetics products as companies substitute artificial ingredients with natural ingredients due to a high preference for sustainable materials. Due to this, the demand for the product will grow significantly in developed regions such as Europe.

"Demand in Food and Beverage Sector to Gain Traction and Share"

The food & beverages industry will dominate the global industry. It has multiple applications in industries such as pharmaceuticals, cosmetics, and personal care, which is expected to boost sales in the segment. The raw materials for flavonoids are conveniently available to manufacturers at a reasonable size and cost, which has resulted in high demand for the product. Thus, wide-ranging applications will lead the product market growth and share.

RESTRAINING FACTORS

"High Costs, Lack of Awareness in Developing Economies to Impede Growth"

The lack of awareness of backward economies about product usage will pose a significant challenge to the market's growth. The expensive costs associated with the research and development proficiencies and maintenance of sustainable revenue models will hamper the market prospects. Thus, high prices of flavonoids and the presence of alternatives in the market will also act as a market growth restraint for the industry, leading to losses for investors and manufacturers.

Flavonoids Market Regional Insights

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"Asia Pacific to Lead Market Share Owing to Increasing Production"

The Asia Pacific region will lead the flavonoids market share owing to the rise of production capacities in developing countries such as China. China will lead the significant production and industrial market share as the region advances with innovations, mergers, collaborations, partnerships, launches, and the establishment of industrial production units. The rise in the region's disposable consumer income and gross domestic product are the factors propelling the region's market share, sales, and growth prospects. This will lead to massive profits and revenues for investors and manufacturers.

KEY INDUSTRIAL PLAYERS

"Developing Countries to Lead Market Share with Rising Innovations"

The report has analyzed various global market players in the industry, and the information has been published after analysis of trends, key technological developments, and innovations. The report also includes research on companies, technical outcomes, and emerging industries' impact and risks. After a comprehensive analysis, the study considers all the points, thus generating future possibilities for the market enterprise. Therefore, the factors specified in the report are subject to change as the market dynamics fluctuate.

List of Market Players Profiled

• Zhejiang Conler Pharmaceutical (China)
• Chengdu Okay (China)
• Sichuan Deebio Pharmaceutical (China)
• Hunan Kang Biotech (China)
• Sichuan Xieli Pharmaceutical (China)
• Shaanxi Huifeng Pharmaceutical (China)
• SANREN Bio-Technology (India)
• Chengdu Shuxi Pharmaceutical (China)
• Hunan Yuantong Pharmaceutical (China)
• Chengdu Yazhong Bio-pharmaceutical (China)
• Chengdu Runde Pharmaceutical (China)
• Quzhou Tiansheng Plant Extract (China)
• Chengdu Hawk Bio-Engineering (China)
• Chongqing Zhuliu Bioengineering (China)
• Hunan Kingti Bio-Tech (U.S.)
• ADM (U.S.)
• Frutarom Health (Israel)
• Shaanxi Huike (China)
• Xi'an Desheng yuan (China)
• Jiangxi Shun Tiancheng (China)
• Taiyo Green Power (China)
• DSM (Netherlands)
• TEAREVO (U.K.)
• Hunan Sunfull Bio-tech (China)
• Infré (Switzerland)
• Hunan Nutramax (U.S.)
• Guangdong Yilong Industry Group (China)
• Hangzhou Qinyuan Natural Plant High-tech (China)
• Shanghai Novanat Bioresources (China)
• Chengdu Wagott Bio-Tech (China)

INDUSTRY DEVELOPMENT

"October 2022:" Archer-Daniels-Midland (ADM) and Marfrig Global Foods have expanded their joint venture, PlantPlus Foods, to the U.S. PlantPlus Foods was launched in 2020 and is currently operating in Brazil, where it supplies plant-based burgers to retailers and food service outlets. The new outlet is set to launch in the U.S. by this year, which will benefit ADM's market share significantly.

REPORT COVERAGE 

The report has examined elements that will affect the demand & supply and estimate forces for the forecast period. After thoroughly evaluating the industrial factors, the report provides an extensive, comprehensive SWOT analysis and estimates all the factors mentioned, taken into consideration after thorough research. The report also includes information on segmentation, market trends and the latest worldwide developments, key industry mergers and acquisitions, and an analysis of the industry's risks. The report has listed the worldwide leading manufacturers and the regions that will experience growth during the period.