The global flavonoid market size was US$ 1,711 million in 2021. The global flavonoid market is forecast to grow to US$ 2,900 million by 2030, registering a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
Flavonoid is a type of polyphenol found in plants that possess antioxidant properties. The pigments or colors in vegetables, fruits, and flowers are largely due to flavonoids. Isoflavones, anthocyanin, and other flavonoid products are commonly synthesized for industrial use. In addition, it is also generally used to treat cardiovascular disorders, cancer, arthritis, obesity, hypertension, and other illnesses.
Factors Influencing the Market
Regional Analysis
North America holds the highest market share in the global flavonoid market. The growth of this region is attributed to the increasing consumption of flavonoids as a supplement. In addition, the increasing cases of disorders like excessive cholesterol, high blood pressure, coronary heart disease, atherosclerosis, and congestive heart failure are likely to create potential scope for the flavonoid market. In addition, the increasing demand for frozen food in the region will surge the growth of the flavonoid market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic has positively influenced the global flavonoid market. The demand for novel pharmaceuticals increased abruptly, which fueled the growth of the global flavonoid market. In addition, the inclination towards frozen foods also grew. As a result, the global flavonoid market witnessed significant growth opportunities due to the pandemic.
Competitors in the Market
Market Segmentation
The global flavonoid market segmentation focuses on Type, Application, and Region.
Global Flavonoid Market, By Type:
Global Flavonoid Market, By Application:
Global Flavonoid Market, By Region