Global proanthocyanidins market is forecasted to grow at a CAGR of ~6.2% during the forecast period (2020-2025).
Key Highlights
- The rise in consumer preferences for products which contain natural ingredients supported by rising demand for functional food & beverage products are some of the factors driving the growth of the proanthocyanidins market.
- Furthermore, increase in prevalence of lifestyle related diseases such as diabetes coupled with rising disposable incomes of people in developing countries, driving the demand for supplements containing proanthocyanidins owing to their substantial nutritional value and therapeutic benefits.
- Additionally, high investments by players operating in the market on developing proanthocyanidin products that cater to various applications such as healthcare, skincare etc., are anticipated to drive the market growth in the coming years.
Key Market Trends
Surge in Demand for Dietary Supplements Derived from Natural Extracts
The global marketplace has witnessed a paradigm shift from curative practices to preventive management in healthcare, making it a prime growth factor for the market studied. Moreover, consumers are looking for a variety of dietary supplements for maintaining and enhancing the overall health and well-being. The healthcare cost is substantially high in emerging economies due to higher per-capita out-of-pocket spending on healthcare, amid the burden of communicable and non-communicable diseases. Such trends have prompted consumers to opt for dietary supplements. In addition, increasing awareness about the health and therapeutic benefits among consumers has enticed many companies to develop supplements derived from natural extracts such as proanthocyanidins driving the growth of the market.
North America Holds Significant Share in the Market
North America has experienced a significant rise in the percentage of ageing population which has increased the consumption of healthy food, and growing demand for pharmaceuticals are the major factors driving the market growth in the region. United States holds major share in the region owing to substantial increase in the demand for proanthocyanidins as dietary supplements. In addition, the increase in application of proanthocyanidins in pharmaceutical industry is anticipated to drive the market growth in the coming years owing to their anti-angiogenic, antimicrobial, and anticancer properties.
Competitive Landscape
Global proanthocyanidins market is highly competitive with the presence of many global and regional players competing to gain market share. Artemis International, Botaniex, Inc., NATUREX SA, Indena S.p.A. etc., are some of the prominent players in the global market. Moreover, players operating in the market are investing in R&D to develop products with enhanced benefits fuelling proanthocyanidins market growth.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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