Proanthocyanidins Market size is forecast to reach $395.81 million by 2025, growing at a CAGR of 6.11% during the forecast period 2020-2025. Proanthocyanidins are sourced from plant-based flavonoid polymers and are also known as condensed tannins. As the demand for proanthocyanidins in dietary supplements is increasing owing to its associated nutritional and therapeutic benefits, consumers are also shifting their demand towards products with natural ingredients that can promote nutritional benefits which in turn is driving the growth of the market for proanthocyanidins. Increasing applications of proanthocyanidins in various applications including healthcare, skincare and food and beverages are set to further enhance the overall market demand for the proanthocyanidin during the forecast period 2020-2025.
Proanthocyanidins Market Segment Analysis – By Source
By Source the Proanthocyanidins Market is segmented into Cranberry, Grape Seeds, Pine Bark and Others. The Cranberry held the largest share in the Proanthocyanidins Market in 2019 and is estimated to grow at a CAGR of 6.7% during the forecast period 2020-2025. Cranberry is a widely used source to extract proanthocyanidins which is known to impart antibacterial properties. Cranberries are native to North America and are known to provide various health benefits towards many health-related problems such as UTIs, Diabetes, oral health and kidney diseases. Owing to its various health benefits it is in demand by manufacturers towards various applications such as food, pharmaceutical and personal care. Moreover increasing consumption towards natural ingredient based products is also driving the segment growth. Cranberry is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Proanthocyanidins Market Segment Analysis – By Application
By Application, the Proanthocyanidins Market is segmented into Food and Beverage, Dietary Supplements, Pharmaceuticals and Personal Care. Dietary Supplements held the largest share in the Proanthocyanidins Market in 2019. The increasing consumer awareness on health-related issues owing to lifestyle habits is increasing the demand for health-related food supplements. In addition, as consumer purchasing power is increasing it is opting to spend more on preventive health measures which is also driving the growth for dietary supplements with proanthocyanidins owing to their nutritional and therapeutic benefits. The dietary supplement is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Proanthocyanidins Market Segment Analysis – By Geography
Based on Geography, Proanthocyanidins Market is segmented into North America, Europe, Asia-Pacific and Rest of World. North America is anticipated to dominate the market with a region share 36.10% in 2019 owing to the rising geriatric population and increasing demand for healthcare products which is driving the market for Proanthocyanidin Market. Also, the demand for dietary supplements is increasing the application of proanthocyanidin in therapeutics which will further anticipate the growth of the market for the forecast period 2020-2025.
Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to rising health concern and increasing purchasing power in the emerging markets is also driving the demand towards health-promoting products including dietary supplements and functional food and beverages.
Proanthocyanidins Market Drivers
Rising consumer awareness towards health benefits of proanthocyanidins.
Increasing consumer consciousness towards health-related issues is driving the market Proanthocyanidins Markets for the forecast period 2020-2025.As proanthocyanidins impart antimicrobial, anticancer and anti-angiogenic properties which is driving its market growth towards therapeutic and food supplement applications. As it is extracted from plants majorly from cranberry and grapes have also increased their demand for consumption. Moreover, many researches are still going on to further know about the benefits of proanthocyanidins, so that it can be used widely in pharmaceutical applications in the upcoming years. Thus, increasing the growth of the Proanthocyanidine Market during the forecast period 2020-2025.
Increasing demand of proanthocyanidins in various applications
The associated health benefits with proanthocyanidins are increasing its demand towards various applications including therapeutic, dietary supplements and food and beverages. The rising health-related issues is driving the dietary supplement segment made from proanthocyanidins. Also, the rising consumer preference towards natural ingredient products is also demanding the application of proanthocyanidins in food and beverage segment and as therapeutics. Thus, increasing the growth of the Proanthocyanidine Market during the forecast period 2020-2025.
Proanthocyanidins Market Challenges
Higher cost of proanthocyanidin and availability of substitutes
Some of the factors that are set to impede the growth of the Proanthocyanidins Market are higher prices of proanthocyanidine. And the availability of low-cost substitutes with same nutritional benefit claims as of proanthocyanidines is restraining the Proanthocyanidins Market to grow during the forecast period 2020-2025.
Proanthocyanidins Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Proanthocyanidins Market. Proanthocyanidins Market top 10 companies are Now Foods, Bio-Botanica, Naturex, Swanson Health Products, Nexira Inc., Functional Nutritional Inc., Ocean Spray Inc. Indensa, Advanced Functional Nutrition, and Xian Yuensen Biological Technology
Proanthocyanidins Market Developments:
Dec 2017: Ocean Spray Inc., American agricultural cooperative announced its funding of $10 Million towards research on cranberries. The research will be based on the health benefits provided by the cranberries. It will include the health benefits related to urinary tract infections and antibiotic resistance. The research findings will try to prove that the health benefits related to cranberries are significant or it’s a myth.
North America dominated the Proanthocyanidins Market in 2019 owing to the rising geriatric population and the increasing demand for health-related products such as dietary supplements and therapeutics. The Proanthocyanidins Market scope for different regions will be provided in the final report.
Increasing consumer preference towards health-related products containing natural ingredients have increased the application of proanthocyanidin owing to its various nutritional benefits is likely to aid in the market growth of the Proanthocyanidine Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Global Food Amino Acid Market report.
Higher cost of proanthocyanidins products and availability of low-cost substitutes is poised to create hurdles for the Proanthocyanidine Market.
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