The new report by Expert Market Research titled, ‘Global Proanthocyanidins Market Report and Forecast 2023-2028’, gives in-depth analysis of the global proanthocyanidins market, assessing the market based on its segments like source, type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 222.19 million
- Forecast CAGR (2023-2031): 5.8%
- Forecast Market Size (2031): 311.74 million
The proanthocyanidins market is growing due to rapid advancements in the dietary supplement industry, especially in developing countries. Dietary approaches to manage lifestyle-related diseases have gained widespread recognition in recent years. Demand for proanthocyanidin-rich supplements has increased as the incidence and prevalence of lifestyle-related diseases such as diabetes and cardiovascular disease has increased. Proanthocyanidin-rich foods are in high demand due to the increasing demand for anti-cancer foods in communities all over the world.
Proanthocyanidins Industry Definition and Major Segments
Proanthocyanidins are a type of flavonoids found in a variety of foods, including red grapes, black grapes, grape seeds, red wine, strawberries, and so on. It has a variety of health benefits, including lowering the risk of cancer and improving heart and blood vessel health. They also have a high antioxidant activity which help to keep blood pressure in check.
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The sources could be divided into the following:
- Grape Seeds
- Pine Bark
Proanthocyanidins can be divided into:
- Type A
- Type B
The proanthocyanidins market can be broadly categorised based on its applications into:
- Pharmaceuticals and Dietary Supplements
- Functional Foods and Beverages
- Personal Care and Cosmetics
Based on region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Proanthocyanidins Market Trends
The global marketplace has seen a paradigm change in healthcare from curative practises to preventive management, making it a key growth driver for the business under consideration. Furthermore, customers are searching for a wide range of dietary supplements to help them preserve and improve their overall health and well-being. The cost of healthcare in developing economies is significantly higher due to higher per-capita out-of-pocket spending on healthcare and the prevalence of communicable and non-communicable diseases. Consumption of dietary supplements has increased as a result of these factors.
Furthermore, rising consumer understanding of the nutritional and therapeutic benefits of natural extracts such as proanthocyanidins has enticed many companies to produce supplements derived from natural extracts such as proanthocyanidins, propelling the market forward. The region’s consumer growth is being fueled by a substantial increase in the percentage of the population that is over the age of 65, which has increased the consumption of nutritious foods and increased demand for pharmaceuticals.
Due to a significant increase in demand for proanthocyanidins as dietary supplements, the United States holds the largest share in the country. Furthermore, because of their anti-angiogenic, antimicrobial, and anticancer properties, proanthocyanidins are expected to rise in popularity in the pharmaceutical industry in the coming years.
Key Market Player
The major players in the market are Naturex, Indena Spa, Nexira, Scott Laboratories Inc., Polyphenolics, Natac Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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