Global Flavonoids Market By Product (Anthocyanins, Flavones, Anthoxanthins, and Other Products), By Application (Functional Beverages, Functional Food, Dietary supplements, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Flavonoids Market Overview

In 2021, the global flavonoids market was valued at US$ 515.92 million. It is expected to register a CAGR of 3.9% in the coming years.

Flavonoids, a group of phytonutrients that are naturally found in plants, have antioxidant properties. These phytonutrients are found in many plants and can be responsible for color change in any vegetable, fruit, or grain including carrots and tea, as well as cucumbers, squash, and tomatoes.

Global Flavonoids Market Scope:

Product Analysis

Anthocyanin and flavones were just a few of the most common types of flavonoids. In 2021, anthocyanin made up the largest share of the total volume and value. Anthocyanin-rich foods & beverages are becoming more popular due to growing awareness of wellness and health.

Over the forecast period, the market for flavones will experience the highest CAGR. Flavones are useful in pharmaceuticals and personal care because they have anti-oxidant and anti-tumor properties.

Application Analysis

The global flavonoids market was dominated by functional beverages in 2021, as shown in the following figure. The product was also valued at more than US$ 150 million that year. The product reduces thrombus formation by improving metabolic processes in the myocardium. Flavonoid-containing drinks can stimulate the immune system and control the adversity associated with anthropogenesis. They also reduce the teratogenic mutationagenic carcinogenic effect. This will increase demand for the forecast period.

Due to strict regulations regarding the use of flavonoids, the dietary supplements market is likely to see a slowdown in demand. Supplements can also have side effects. Supplements could cause a high intake of flavonoids, which can have a negative effect on the human body.

The forecast period will see increased demand due to extensive research to discover the various properties, applications, structures, and functions of flavonoids. Market players are heavily involved in R&D and product development. This will lead to an increase in the product’s consumption over the forecast period. The market is likely to grow due to rising awareness about healthy food and growing concerns regarding various diseases such as cancer, obesity, diabetes, high blood pressure, and other ailments. This product has enjoyed a wide variety of benefits over the years.

Key Market Segments

By Product

• Anthocyanins
• Flavones
• Anthoxanthins
• Other Products

By Application

• Functional Beverages
• Functional Food
• Dietary supplements
• Other Applications

Market Dynamics:

Flavonoids can be used in many applications, including functional foods & beverages, and cosmetics. They are used in the food industry as coloring and sweeteners. They prevent the growth of cancer cells, treat stomach ulcers, and are anti-microbial, so they can also be used to prevent infections.

In terms of value, functional foods held the largest market share at over 49.8% in the U.S. in 2021. The market was driven by the increased use of anthocyanin as a color agent in the food and beverage industry. Flavonoids can be consumed in their natural forms, but consumers have changed their food habits to make them more readily available in functional foods.

Anthocyanin can also be used to lower blood sugar levels. It acts as a histamine-blocker and prevents inflammation from allergies, heart disease, arthritis, and stomach cancer. These properties will fuel the company’s growth for the next ten years.

Market drivers are expected to be a growing health concern. A variety of factors, including poor hygiene and unhealthy lifestyles, are contributing to the increase in health problems. Flavonoids are good for human health, and there is an increase in flavonoids being used in food preparation. The market is also driven by the increasing demand for convenience foods.

In recent years, the market for functional food has grown rapidly. Functional foods are high in nutritional value. Functional foodstuffs have a higher nutritional value due to flavonoids. During the COVID-19 pandemic, convenience foods were a source of health benefits for the entire population. Flavonoids are now very popular because the population continues to demand healthy foods. Funds in developing countries are a key factor in promoting strong development. The potential for market growth is also being created by the increased use of flavonoids as pharmaceutical ingredients.

As the majority of people are trying to live a healthier lifestyle, the nutraceutical industry is expanding. The market has seen a rise in demand for flavonoids, which is boosting its growth.

Regional Analysis

North America accounted for more than 35% of global revenue in 2021. North America is home to many preventable chronic diseases that can be linked to diets, such as type 2 diabetes, obesity, and cardiovascular disease. Flavonoids are a result. Asia Pacific’s demand for nutraceuticals was more than US$ 121 million in 2021. It is expected to see significant growth due to rising nutraceutical consumption. This industry is expected to benefit from changes in consumer habits, high youth populations, and increased popularity of sports over the forecast period. These factors will be accompanied by rising disposable incomes, especially in Japan and China, which are expected to boost growth in the region.

Due to Europe’s aging population, the market is expected to grow slower in Europe. The rising prevalence of chronic diseases such as diabetes, obesity, and other chronic conditions will likely drive demand for nutrition functional food & drinks in Europe. This product will be in high demand due to rising health consciousness among consumers over the forecast period.

Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Key players have adopted major growth strategies, including expansions & investments as well as agreements & partnerships. Charlotte’s Web announced the acquisition of Abacus Health Products. This is the largest vertically integrated CBD Company with over 21,000 retail outlets. This acquisition helped expand the distribution network.

Ingredients by Nature (IBN), a supplier and manufacturer of science-based, innovative nutraceutical ingredients, acquired Sytrinol in July 2021 and expanded its product range.

Longevity by Nature formed two distribution and strategic marketing partnerships in October 2021 with National Sales Associates LLC, which is a national marketing and sales brokerage, as well as United Natural Foods Inc. (North America’s largest food wholesaler). Flavonoids are used as raw material by Longevity by Nature, a natural supplement product producer company. These partnerships can be beneficial for future sales and reach retailers.

Longevity by Nature partnered with United Natural Foods Inc. and National Sales Association LLC in October 2021 as part of its market expansion. This strategy aims to expand the market footprint and offer better food options for consumers.

Market Key Players:

• Quercegen Pharmaceuticals
• Cayman Chemical Company
• Foodchem International Corporation
• Extrasynthese
• INDOFINE Chemical Company, Inc.
• Pharmachem Laboratories Inc.
• Organic Herb Inc.
• Toroma Organics Ltd
• Phytocompounds
• Indena S.p.A
• Other Key Players

For the Flavonoids Market research study, the following years have been considered to estimate the market size: