Flavonoids are polyphenolic compounds found in fruits, vegetables, grains, bark, roots, stems, flowers, tea, and others and have antioxidant powers that can provide important health benefits. Regular consumption of flavonoids can reduce risk of a number of chronic diseases, including cancer, cardiovascular disease (CVD), and neurodegenerative disorders.
Major factors driving growth of the global flavonoids market include increasing prevalence of chronic diseases such as cancer, diabetes, and obesity, resulting in increased demand for flavonoids in functional food & beverages. Increasing adoption of flavonoids in various applications such as pharmaceuticals, cosmetics, and others, owing to its high level of antioxidants, anti-inflammatory, and anti-mutagenic properties are other important factors expected to support growth of this market over the forecast period.
However, high consumption of flavonoids may lead to side effects such as fever and anemia and high prices of flavonoids and its supplements are major factors expected to hamper growth of the global flavonoids market over the forecast period.
The global flavonoids market has been segmented on the basis of product, application, and region. On the basis of product, the global flavonoids market is segmented into anthocyanins, flavones, anthoxanthins, and others. Anthocyanins accounted for highest revenue share, owing to high demand from food & beverages industry.
On the basis of application, the global flavonoids market is segmented into, functional beverages, functional food, dietary supplements, and others. Functional beverages accounted for highest revenue share among all application segment, owing to increasing health awareness among consumers and rising disposable incomes.
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On the basis of region, the global flavonoids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to dominate the global flavonoids market in terms of revenue, owing to increasing prevalence of chronic diseases such as diabetes and cancer and high demand from food & beverages industry in countries in the region. The market in Asia Pacific is expected to account for second-highest revenue share, followed by Europe, Latin America, Middle East & Africa.
Key players in this market include International Flavors & Fragrances, Inc., Cayman Chemical Company, Indena S.p.A., Kemin Industries, Inc., Indofine Chemical Company Inc., Foodchem International Corporation, Aquapharm Bio-Discovery Limited, Pharmachem Laboratories Inc., Toroma organics Ltd., Organic Herb Inc.