According to a new report published by Allied Market Research, titled, “Proanthocyanidins Market by Source, Form, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global proanthocyanidins market size was valued at $120.3 million in 2020, and is projected reach $207.9 million by 2030, registering a CAGR of 5.7% from 2021 to 2030.
Over last few decades consumer awareness about the natural products in increasing. Majority of the packaged food/ nutraceutical that are available in the market contains a variety of chemicals, some of which are very harmful to health, such as preservatives. Some preservatives are also linked with unfavorable effects, which can comprise of unpleasant reactions in consumer’s sensitive to a particular preservative or a potential increased risk for cancer. In such situation, going natural with products having no pesticides, chemicals, or processed additives and picking natural food to minimize the risk of disease, illness, and disorders is now trending.
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Many consumers are avoiding chemical ingredients in their food, health food, functional food, proteins, and nutraceutical products. Hence the demand for naturally sourced proanthocyanidins is increasing continuously. This demand has gained extensive traction in developed regions of North America and Europe with consumers in this region are spending more on natural products compared to the consumers in other regions. Hence the trend of using natural ingredients in nutraceutical as well as food industry in proving one of the major factor boosting the proanthocyanidins industry.
Nevertheless, grape seed, pine bark are the conventional sources of Proanthocyanidins but with the growing awareness about its health benefits, researches across the world is being carried out to study alternative sources of proanthocyanidins. It is been found that there is plenty amount of proanthocyanidins present in blueberries, apples, pears, hazelnuts, cinnamon bark, and sorghum grains. Market players can grab this opportunity to process and extract Proanthocyanidins from these sources and to provide them in lower cost so that their consumer base will increase during the forecast time period. Moreover with higher prices of this ingredient, offering the proanthocyanidins in lower price may act as a major entry for any market player to enter the market. With researches been carried on these new products, there lies new Proanthocyanidins market opportunities for further extraction of from other fruits and nuts.
The global proanthocyanidins market is segmented on the basis of source, form, sales channel, and region. Based on source, the global market is bifurcated into berries, grapes and others. The report also segments the market on the basis of form mainly powder and tablet. By sales channel, the market is studied across offline channels and online channels. Furthermore, it includes revenue generated from the sales of proanthocyanidins across North America, Europe, Asia-Pacific, and LAMEA.
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Key Findings Of The Study
Region wise, North America dominates in terms of long proanthocyanidins market share, however Asia-Pacific region is anticipated to have the highest CAGR during the forecast period.
Depending on source, the berries segment is the major shareholder in the year 2020, however the others segment is expected to grow with the highest CAGR during the proanthocyanidins market forecast period.
On the basis of form, the tablet segment is the leader in terms of market share.
As per sales channel, offline channels segment leads in terms of market share in the global proanthocyanidins market; however, online channels segment is expected to gain market share by the end of forecast period.
Rise in health awareness and an increase in demand of natural nutraceutical ingredients to drive market expansion.
Some of the major players profiled for in the proanthocyanidins market analysis include Artemis International, Eevia Health, Enomark Biotech, Fruit d’Or, Givaudan International SA, Indena S.p.A, INDOFINE Chemical Company, Inc., Natac, Nexira, and Xi’an Yuensun Biological Technology Co., Ltd. Other prominent players analyzed in the report are Polyphenolics, Botaniex Inc., Now Foods, Bio-Botanica, Swanson Health, Functional Nutritional Inc., and Advanced Functional Nutrition.
