Flavanones Market is expected to register a growth rate of 3% during the Forecast Period of 2020 to 2027 to reach USD 140 million by the end of 2027.
Flavanones are the major group of flavonoids which is obtained from citrus plants. These are aromatic, colorless glycosides. These can be found in all plant parts above and below the ground depending on the plant type. It has antioxidant properties and can be useful for preventing certain types of cancers. These are found from vegetative parts to generative organs which are branches, flowers, stems, bark, leaves, roots, rhizomes, fruits, seeds, peels, etc. flavanones market are highly used in end-use industries like pharmaceuticals, nutraceuticals, food products, beverages, and animal feed. It has superior benefits like antiviral, antioxidant, antifungal, antibacterial, anti-inflammatory, and cardioprotective effects. Among all the types of flavanones, naringenin, and hesperidin aglycones are highly populated for their high prevalence in foods.
According to the World Health Organization (WHO) report, by 2020 in the developed countries, the total number of cancer cases is expected to increase by 29% and 73% in developing countries. Due to the growing number of cancer cases, to find a cure, R & D activities are becoming high than past. As the flavanones have cytotoxic anti-cancer agents and promote apoptosis in the cancer cells. Flavanones have the capacity to absorb UV light and can protect against DNA damage.
COVID-19 Analysis of Flavanones Market
The COVID-19 pandemic is spreading all over the world and affecting most human health. Few of them cause death and few of them were recovered. To curb the spread of the coronavirus, the government has imposed stringent regulations like lockdowns, transportation bans, business sector and educational sectors off, retail shops shutdowns, and many more. Due to these factors manufacturing sectors are facing a lot of issues like supply chain disruptions, lack of raw materials, and shortage of workers which leads to a stoppage of production.
The flavanones market is also drastically impacted by the pandemic across the globe. Flavanones are highly used in food products, pharmaceuticals, beverages, nutraceuticals, etc industries that are highly impacted by the pandemic and the manufacturing production is stopped. Hence the demand for flavanones is declined due to the reduction of the production of flavanones-containing products. But the flavanones have the benefits like anti-bacterial, anti-inflammatory, antiviral, antifungal, and cardioprotective effects which are very essential in this pandemic situation. Thus, rapidly increases their demand even in the pandemic situation.
Drivers
The growing consumption of flavanones as flavoring agents and dietary supplements may witness lucrative growth opportunities for the manufacturers of flavanones. Growing demand for functional food ingredients and flavanones food products is expected to propel the growth of the flavanones market.
Restraint
The costs associated with the establishment and maintenance of a sustainable business model are very expensive is the factor expected to hinder the market growth. Lack of research regarding the flavanone’s benefits in the human body and limited bioavailability of certain flavanones which includes naringenin is restraining the flavanones market growth.
Opportunities
The advanced technologies in the production of flavanones like the use of co-cultures to produce microbial-based flavanones are predicted to offer growth opportunities to the global flavanones market.
Challenges
Lack of skilled people to operate and lack of awareness among the various organizations regarding the consistent and cost-efficient development of these products may the challenging factor of the flavanones market growth.
Study Objectives
The flavanones market has been divided into three segments based on type, application, and region.
The flavanones market based on type is mainly segregated into few types as naringenin, hesperidin, and others. Among them, hesperidin is predicted to garner the highest market share and exhibits significant CAGR during the review period due to the hesperidin’s potential biological effects like antiviral, antibacterial, antifungal, inhibitory, antioxidant, anti-inflammatory, and anti-carcinogenic. Moreover, it produces antiadipogenic activity, cardioprotective effects, and is also used in the treatment of Alzheimer’s.
The flavanones market by application is bifurcated into various segments such as pharmaceuticals & nutraceuticals, functional food & beverages, animal feed, and others. Out of these applications, pharmaceuticals & nutraceuticals holds the largest revenue share due to the high consumption of flavanones in the nutraceuticals. Moreover, the functional food & beverages segment is expected to register the highest growth rate for the growing health awareness among the consumers regarding the consumption of functional food & beverages.
Regionally, the flavanones market is divided into four main geographies such as Europe, North America, Asia-Pacific, and the rest of the world. Out of these regions, North America is dominating the largest flavanones industry share due to the surging demand for natural and functional food & beverages during the forecast period
Geographically, the flavanones market based on region is categorized into four regions like North America, Europe, Asia-Pacific, and the rest of the world. Among them, North America is leading the highest market share for the surging demand for natural and functional food & beverages in the coming years. The rising health concerns among the consumers and are shifting their food to safer food alternatives. Moreover, the health issues like cardiovascular diseases, obesity, and diabetes are rising in this region which is driving the growth of the North American flavanones industry.
Asia-Pacific is predicted to register the highest growth rate owing to the expanding pharmaceutical, food& beverages industries as rising usage of flavanones for their beneficial properties. The rising number of consumers who are health-conscious and rise in inclination for food that contains functional properties is expected to exhibit a significant CAGR during the assessment period.
The prominent key players in the Flavanones Market Outlook are the following:
Recent Developments
Report Overview
This flavanones market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the flavanones industry drivers, restraints, challenges, and opportunities. The global market forecast segments are type, application, and region.
The flavanones market trends have been segmented globally based on the type, application, and region.
Hesperidin, naringenin, and others are few types of flavanones industry.
Pharmaceuticals & nutraceuticals, functional food & beverages, animal feed, and others are some of the applications of the flavanones market.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the flavanones market.
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