Flavonoids are the group of compounds which consist of antioxidant properties. Flavonoids are primarily derived from carrots, broccoli, citrus fruits, berries, peppers, tomatoes, soybeans, and other fruits and also helps in vegetables. Flavonoids anti-oxidant properties plays an important role in preventing many diseases and also prolongs the shelf life of food products by protecting them against deterioration caused by oxidation. Flavonoids inhibit the action of certain hormones such as estrogen, and enable to prevent hormone based malignancies such as breast cancer, prostate cancer and others. Increasing aging population coupled with rising demand of cancer fighting product is expected to support the growth of flavonoids market in the near future.
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Flavonoid Market Segmentation
Flavonoids market is segmented on the basis of type which includes, flavanones, flavones, isoflavonens, chalcones, anthoxanthins and anthocyanins. Among all these segments anthocyanin is expected to be dominant in terms of revenue contribution. Increased usage of anthocyanin by food and beverages industry as a coloring agent is expected to attribute this growth. Moreover, flavones is predicted to witness a substantial growth in the near future.
The flavonoids market is further segmented on the basis of application which includes food and beverages industry, pharmaceutical industry, animal feed industry and nutraceutical industry. Among all these segment nutraceutical industry is expected account for the major market share as compared to remaining segment. Increasing awareness for healthy products coupled with rising demand anti-inflammatory, cholesterol lowering and stress relief product is expected to be the driving factor for the growth of flavonoid market in next five to six years. Moreover, food and beverages industry is expected to show a substantial growth in flavonoid market. Increased usage of flavonoids as a coloring agent coupled with a view to increase the shelf life of final product for food and beverages is predicted to support the demand of flavonoid market in the near future.
On the basis of geography, globally North America is expected to contribute to the highest in terms of market share in flavonoid market followed by Europe. In North America countries such as United States is predicted to be the major contributor flavonoid market followed by Canada. Increasing health consciousness with rising demand of dietetic and nutritional supplement among the people in America is driving the growth of flavonoid market across the region. In Europe, countries such as Germany and France is expected to account for the largest market share followed by United Kingdom. Whereas, Asia pacific is concerned it is expected to register a healthy CAGR by 2020. In Asia pacific region China is expected to be the most dominant market for flavonoid market followed by Japan. Rising awareness among the consumer for healthy lifestyle coupled with increased aging population is predicted to support the growth of flavonoid market during the forecast period.
Flavonoid Market Drivers
The rising demand for functional foods coupled with increasing health consciousness among the people in developed economies is supporting the growth of flavonoid market in the near future. In emerging economies, rising demand for longer shelf life coupled with increased aging population is predicted to fuel the growth of flavonoid market in the near future. In addition, rising prevalence of several health disorder such as breast cancer, prostate cancer, pancreatic cancer and positive effect on blood vessels, lowering of blood pressure and prevention of inflammation in the body are some of the major factor which is expected to drive growth of flavonoid market during the forecast period.
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Flavonoid Market Key Players
Some of the major key players operating in flavonoid market includes International Flavors and Fragrances, EXTRA SYNTHE SE, Kemin Industries, Indofine Chemical Company Inc, Foodchem International Corporation, Meherrin Agricultural & Chemical Company, Quercegen Pharmaceuticals, Cayman Chemical Company, Aquapharm Bio-Discovery Limited among others.