Proanthocyanidins Market to Spike at 6.4% CAGR, Change in Eating Habits May Impact Growth Due to Coronavirus Outbreak, says FMI
The global proanthocyanidins market size is expected to reach US$ 372.41 Mn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.4% CAGR between 2020 and 2030. According to the report, the increased incidence and prevalence of lifestyle-related diseases like diabetes and cardiovascular disorders have strengthened the need for proanthocyanidine supplements. The increasing demand for anti-cancer food products in populations around the world also drives the industry for foodstuffs rich in proanthocyanidin. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
A recent market study published by Future Market Insights on the Proanthocyanidins Market&...
It includes in-depth insights into the proanthocyanidins market. Some of these are:
- The estimated value of the market was at US$ 200 Mn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- 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.
- The rising incidence and prevalence of lifestyle related diseases such as diabetes and cardiovascular conditions has been bolstering the demand for supplements containing proanthocyanidins.
- The rising demand for food products with anti-cancer properties in populations across the world is also fueling the demand for proanthocyanidin-rich food products.
- In terms of source, the type A segment will hold the larger percentage of share in the market. It is also expected to show impressive growth over the forecast period.
“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,” said a lead analyst at FMI.
Despite Rising Prevalence for Dietary Supplements, Change in Buying Pattern Due to COVID-19 Outbreak will Impact Growth
Due to increase in lifestyle-related diseases, people are opting for healthier lifestyle and food. Proanthocyanidins protect and reduce the oxidative damage caused by free radicals in the body; it also helps in preventing heart-related diseases as many studies have shown that proanthocyanidins reduce blood pressure and improve fat metabolism, moreover, some studies claim proanthocyanidins to have anti-cancer and antitumor activity.
Aversion behaviour of consumers due to COVID-19 outbreak may exacerbate effect on proanthocyanidins consumption. The supply chains are getting disrupted, blockages to transport routes particularly obstructive for the proanthocyanidins supply chains and may also result in increased levels of loss and wastage. On the other hand, panic buying has sparked demand for services to strengthen the supply chain. This has created opportunities for manufacturers.
Who is Winning?
Some of the major players operating in Proanthocyanidins market includes NOW Health Group, Inc., Bio Botanica, Inc., Ocean Spray Cranberries, Inc., IL Health & Beauty Natural Oils Co., Inc., Swanson Health Products, Inc., Atrium Innovations Inc., Skin Actives Scientific and others. 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. Efforts of manufacturers to back nutritional benefit claims through in-vitro studies prove as a strong underpinning to the demand for proanthocyanidins as dietary supplements. However, manufacturers are still grappling with low level of market penetration owing to limited consumer awareness. The rising application of proanthocyanidins in the food and beverages industry is also aiding in the expansion of the market.
Moreover, players operating in the market are investing in R&D to develop products with enhanced benefits fuelling proanthocyanidins market growth.
Get Valuable Insights into Proanthocyanidins Market
Future Market Insights, in its new report, presents an unbiased analysis of the global proanthocyanidins market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. Based on the end use application, market is segmented into the dietary supplement, food and beverage, personal care & cosmetics, and others. On the basis of the source, market is segmented into grape seed, pine bark, berries and others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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