Proanthocyanidins Market Set for Strong Growth, Projected to Reach $3.78 Billion by 2028
Proanthocyanidins Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s Proanthocyanidins Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The global proanthocyanidins market has seen robust growth in recent years, expanding from $2.4 billion in 2023 to $2.62 billion in 2024, representing a compound annual growth rate (CAGR) of 9.4%. This growth can be attributed to increased consumer awareness, the expanding nutraceutical industry, rising demand for natural products, increased applications in cosmetics, and a growing aging population.
Driving Factors: Rising Demand in Functional Foods and Pharmaceuticals
The market is expected to continue its strong growth trajectory, reaching $3.78 billion by 2028, with a CAGR of 9.6%. Key drivers in this forecast period include the expanding functional food market, rising pharmaceutical applications, the clean label movement, evolving beauty and personal care trends, and the growth of functional beverages.
The increase in lifestyle-related diseases, such as cardiovascular diseases (CVD), diabetes, and certain cancers, further propels market growth. Proanthocyanidins act as antioxidants, protecting the heart and circulatory system, thereby meeting the rising demand driven by these health concerns.
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Major Players and Innovation Trends
Leading companies in the proanthocyanidins market include Amway Corp., Herbalife Nutrition Ltd., Ocean Spray Cranberries Inc., Naturex SA, and others. These players are focusing on innovation, introducing products like Enovita Organic, a high proanthocyanidin content grape seed extract, to gain competitive advantage. For instance, Indena S.p.A. launched Enovita Organic in collaboration with Alvinesa, emphasizing its natural antioxidant benefits for health and wellness.
Market Segments
• Type: Type A, Type B
• Source: Grape Seed, Pine Bark, Bilberry, Cranberry, Horse Chestnut, Blueberry
• Application: Dietary Supplement, Functional Food And Beverage, Personal Care And Cosmetics, Pharmaceutical, Animal Feed, Other Applications
• Distribution Channel: Drug And Pharmacy Stores, Convenience Stores, Modern Trade, Online Retail
• End User: Adults, Children, Seniors
Geographical Insights: Asia-Pacific Emerging as a Growth Leader
North America dominated the proanthocyanidins market in 2023, while Asia-Pacific is expected to exhibit the fastest growth during the forecast period. The report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Proanthocyanidins Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Proanthocyanidins Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on proanthocyanidins market size, proanthocyanidins market drivers and trends, proanthocyanidins market major players, competitors' revenues, market positioning, and market growth across geographies. The proanthocyanidins market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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