Zion Market Research has published a new report titled “Proanthocyanidins Market by end user Distribution Channel (dietary supplement, food and beverage, personal care & cosmetics, and others) Market by distribution channel (direct and indirect), market by source (grape seed, pine bark, berries and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2024”. According to the report, the global proanthocyanidins market accounted for USD 1.64 billion in 2015 and is expected to reach USD 3.05 million by 2024, growing at a CAGR of around 7.74% between 2017 and 2024.
The proanthocyanidins market is expected to witness substantial growth within the forecast period on account of the growth of the dietary supplement industry in several regions across the globe. Proanthocyanidins are utilized in a wide range of applications to provide a health benefit. When incorporated in a dietary food, the proanthocyanidins help in strengthening capillaries, lowering down blood pressure and slowing down the progression of diabetic retinopathy. Proanthocyanidins also known as condensed tannins, are oligomeric flavonoid which has powerful antioxidants properties and are found in food sources such as grapes (seeds and skins), apples, pine bark, red wines, cranberries, blueberries, unsweetened baking chocolate, bilberries, and hazelnuts. Its antioxidant and other therapeutic properties have made proanthocyanidin supplements gain traction in the global market. The therapeutic sector is expected to drive the growth of the proanthocyanidins market within the forecast period.
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Due to increase in lifestyle-related diseases, people are opting for healthier lifestyle and food. Proanthocyanidins protect and reduce the oxidative damage caused by free radicals in the body; it also helps in preventing heart-related diseases as many studies have shown that proanthocyanidins reduce blood pressure and improve fat metabolism, moreover, some studies claim proanthocyanidins to have anti-cancer and antitumor activity. These are the factors anticipated to fuel the growth of global proanthocyanidins market over the forecast period. Additionally, the major restraint for the proanthocyanidins market is low market penetration and the lack of consumer awareness about proanthocyanidins in the emerging and developing markets. This is expected to restrain the growth of global proanthocyanidins market over the forecast period.
The proanthocyanidins market can be segmented based on end use application, distribution channel, source, and region. Based on end use application, the proanthocyanidins market can be bifurcated into a dietary supplement, food and beverage, personal care & cosmetics, and others. Dietary supplement & food and beverage accounted for the largest market share among end user in 2017.
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On the basis of the distribution channel, the market is bifurcated into direct and indirect sales. Indirect sales can be further bifurcated into modern trade, drug and pharmacy stores, online retail, and convenience stores. On the basis of source, the market is bifurcated into grape seed, pine bark, berries and others.
Geographically, the proanthocyanidins market is segmented into North America, Latin America, Europe, Asia-Pacific, and MEA. Globally, among all regions, North America dominated the proanthocyanidins market in 2016 and is also expected to witness the fastest growth within the forecast period, followed by Europe. In North America, U.S. is the most dominating segment and is expected to contribute maximum revenue in the coming four to five years due to the relatively high consumption owing to the high daily intake of proanthocyanidins in the in the U.S. population.
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Additionally, the high population and increasing disposable incomes have aided in boosting the consumption and spending power in the Asia Pacific. Moreover, increase in health awareness in food sector has driven consumers in choosing products with high nutritional content, which is expected to further propel the growth of the proanthocyanidins market in the Asia Pacific. Asia Pacific market is anticipated to witness rapid growth over the forecast period owing to rising consumer awareness of proanthocyanidins rich products and growing consumer preferences for the food products rich in nutritional content in countries such as China and India
The key players operating in the proanthocyanidins market are NOW Health Group, Inc., Bio Botanica, Inc., Ocean Spray Cranberries, Inc., IL Health & Beauty Natural Oils Co., Inc., Swanson Health Products, Inc., Atrium Innovations Inc., Skin Actives Scientific and among others.
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This report segments the global Proanthocyanidins market as follows:
Global Proanthocyanidins Market: End-User Segment Analysis
- Food and beverage
- Dietary supplement
- Personal care & cosmetics
Global Proanthocyanidins Market: Source Segment Analysis
- Pine Bark
- Grape Seed
Global Proanthocyanidins Market: Distribution Channel Segment Analysis
- Drug and pharmacy stores
- Convenience stores
- Modern Trade
- Online Retail.
Global Proanthocyanidins Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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