Food and Beverages
Proanthocyanidins Market Size Estimated to Reach $420.3 Million by 2026
Proanthocyanidins Market size is estimated to reach $420.3 million by 2026, growing at a CAGR of 6.2% during the forecast period 2021-2026. Proanthocyanidins are a group of flavonoids that give the fruits of many plants their blue, red, and purple colors and are also known as condensed tannins. Proanthocyanidins are increasingly being used in the pharmaceutical industry owing to their health benefits, such as it helps in maintaining healthy blood pressure, reduces the risk of cancer, and also has a beneficial effect on blood vessels and heart health. The rise in the adoption of grape seed in dietary supplements for nutritional elements in it, such as flavonoids, phenolic procyanidins, and linoleic acid, increase in the adoption of tannins in pharmaceuticals, rise in the demand for oligomeric proanthocyanidins, and growing investment by the key players to develop quality proanthocyanidins are the factors that are set to drive the growth of the Proanthocyanidins Market for the period 2021-2026.
Key Takeaways
- Geographically, North America Proanthocyanidins Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of tannins and oligomeric proanthocyanidins in pharmaceuticals.
- The increase in the adoption of grape seed in dietary supplements for nutritional elements in it, such as flavonoids, phenolic procyanidins, and linoleic acid is driving the Dietary Supplements segment. However, the high cost of proanthocyanidins is one of the major factors that is said to reduce the growth of the Proanthocyanidins Market.
- Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Proanthocyanidins Market report.
Proanthocyanidins Market Size, By Source, 2020-2026 (USD Million)
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Proanthocyanidins Market Segment Analysis-By Source
The Proanthocyanidins Market based on the Source can be further segmented into Cranberry, Grape Seed, Pine Bark, Blueberry, and Others. The Cranberry segment held the largest share in 2020 owing to the factors such as the increase in the demand for cranberry flavonoids and the growing awareness about the health benefits of cranberry. The rise in the adoption of cranberry to extract proanthocyanidins flavonoids to impart antibacterial properties is driving the growth of the Proanthocyanidins Market. The Blueberry segment is estimated to be the fastest-growing segment with a CAGR of 7.3% over the period 2021-2026. This growth is owing to the factors such as the growing demand for blueberry in the food and beverages industry and the rise in the applications of blueberry in cosmetics for condensed tannins.
Proanthocyanidins Market Segment Analysis-By Application
The Proanthocyanidins Market based on the Application can be further segmented into Pharmaceuticals, Dietary Supplements, Functional Food & Beverages, Personal Care & Cosmetics, and Others. The Dietary Supplements segment held the largest share in 2020 owing to the factors such as the increase in the adoption of flavonoids in dietary supplements and the rise in the investment by the key players to develop quality proanthocyanidins for dietary supplements. The rise in the adoption of grape seed in dietary supplements for nutritional elements in it, such as flavonoids, phenolic procyanidins, and linoleic acid is driving the growth of the Proanthocyanidins Market. Pharmaceuticals is estimated to be the fastest-growing segment with a CAGR of 6.9% over the period 2021-2026. This growth is owing to the factors such as the rise in the health consciousness among the young population in developed nations, and the growing adoption of tannins in pharmaceuticals.
Proanthocyanidins Market Segment Analysis-By Geography
The Proanthocyanidins Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 28% of the overall market in 2020. The growth in this segment is owing to the factors such as the increase in the adoption of cranberry flavonoids, growing demand for oligomeric proanthocyanidins, and the rise in the adoption of tannins in pharmaceuticals. The increasing applications of blueberry in cosmetics for condensed tannins is driving the growth of the Proanthocyanidins Market. Asia-Pacific is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the growing adoption of grape seed in dietary supplements for nutritional elements in it, such as flavonoids, phenolic procyanidins, and linoleic acid, and the increasing demand for blueberry in the food and beverages industry.
Proanthocyanidins Market Drivers
Rise in the Adoption of Grape Seed Proanthocyanidins in Dietary Supplements.
Grape seed proanthocyanidins are increasingly being adopted across the world in dietary supplements for nutritional elements in it, such as flavonoids, phenolic procyanidins, and linoleic acid. The key players are also focusing on developing quality grape seed proanthocyanidins for enhancing its applications in dietary supplements, which is one of the major factors driving the growth of the Proanthocyanidins Market.
Increase in the Demand for Healthier Products in Food and Beverages.
Customers across the world are shifting towards healthier products in food and beverages owing to the rise in the number of chronic diseases and other health-related issues. This shift towards healthier products has propelled the demand for quality proanthocyanidins owing to their anticancer, antimicrobial, and anti-angiogenic properties.
Proanthocyanidins Market Challenges
High Cost of Proanthocyanidins.
The key players in the market are collaborating with other players to carry out various research and development activities for launching advanced proanthocyanidins for applications in pharmaceuticals and dietary supplements. However, the high cost of proanthocyanidins is one of the major factors that is estimated to reduce the growth of the Proanthocyanidins Market.
Proanthocyanidins Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Proanthocyanidins Market. Key companies of this market are Botaniex Inc, Naturex, Nexira Inc, Indena S.p.A., Polyphenolics, PureExtract, Swanson Health Products, Inc, Artemis International, Inc, Advanced Functional Nutrition, Inc, and Xian Yuensun Biological Technology Co. Ltd among others.
Partnerships/Product Launches:
- In September 2020, Artemis International, Inc has entered into a partnership to be the United States distributor for Canada-based Fruit d’Or’s line of conventional blueberry ingredients. The product lineup includes proanthocyanidin cranberry powders and also conventional whole blueberry powders.
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