Market Overview
Global Flavanones Market has the potential to register a moderate CAGR of 3% between 2019 to 2024, which Market Research Future (MRFR) has recognized as the forecast period. By the end of 2024, the market is also slated to score past valuation of USD 140 million. Flavanones, a type of flavonoid, are known for their aromatic presence. These are mostly colourless glycosides that can be derived from plants. Flavanones have significant use in food products, beverages, nutraceuticals, pharmaceuticals, and animal feed. This growth is probably taking place due to the rising demand for products with anti-inflammatory, antioxidant, antiviral, antibacterial, antifungal, and cardioprotective effects features.
However, this growth of the flavonoid market can feel restrained as its impacts on the human body is yet to be validated by major governing bodies. Its availability in a natural way can also be a market deterrent as several types are known for their synthetic origin. But its growing use in the nutraceutical sector, which has the backing of increasing health awareness among people, can boost the growth of the market.
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Competitive Landscape
Merck KGaA (Germany), Cayman Chemical (US), Chengdu Hawk Bio-Engineering Co. Ltd (China), Monteloeder (Spain), Bolise Co., Limited (China), KINGHERBS (China), Extrasynthese (France), Foodchem International Corporation (China), Xi’an App-Chem Bio (Tech) Co. Ltd (China), and INDOFINE Chemical Company, Inc. (US) have been included in the global flavanone market study of the MRFR. The study would assess the impact of various strategic moves that can help in charting the growth trajectory of the market.
In February 2019, scientists from Salk’s Cellular Neurobiology Laboratory discovered that Yerba santa, a native shrub from California, has neuroprotective flavonoids that can be used to treat Alzheimer’s.
Segmentation
The global flavanones market, as the study of the MRFR suggests, has been segmented by type and application. This segmentation provides a much-detailed look of the market and assists in understanding several market dynamics that can impact the strategy-making decisions.
By type, the global market report covering the flavanone market has been segmented into naringenin, hesperidin, and others. The hesperidin segment had the largest market share and is set to fetch in more revenues by growing the highest CAGR during the forecast period.
By application, the global market report covers the market for flavanone by getting it segmented into functional food & beverages, animal feed, pharmaceuticals & nutraceuticals, and others. The pharmaceuticals & nutraceuticals segment had the largest market share in 2018. However, the functional food & beverage segment can record the growth with the highest CAGR till 2024.
Regional Analysis
In North America, the Flavanone Market can score high due to its high inclusion in the food & beverage segment. The growing investment in developing top-class products can assist the food & beverage segment to generate more revenue. Its growth would also gain much support from the pharmaceutical sector where the constant rise in investment to develop better drugs can inspire the intake of flavanone. In the nutraceutical sector, this growth can make a significant impact.
Europe has similar chances as both these regions are quite alike in terms of market opportunities. Several countries like Russia, France, Germany, the UK, and others are on track to provide better support to their food & beverage industry and trigger changes for their food & beverage industry. The growing awareness regarding healthy life can inspire the intake of nutraceuticals where flavanone would have ample support.
The market in the Asia Pacific is all set to register the fastest CAGR during the review period as several booming industries are creating opportunities for the market. These are expected to foster the inclusion of flavanone into industries related to food & beverage and medical drugs.
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