Proanthocyanidins are the chemical compound class of polyphenols which is found in a variety of plants as they are responsible for the red, purple or blue colors of multiple fruits and flowers. The market is expected to grow due to their increasing usage of dietary products and functional food & beverages. The growing awareness among consumers regarding various therapeutic and health benefits provided by proanthocyanidins is anticipated to fuel the market during the coming years. Furthermore, the rise in R&D activities to find new sources of proanthocyanidins along with the launch of new functional products containing proanthocyanidins is creating new opportunities contributing to the growth of the market. Moreover, the increase in application in cosmetics and personal care products industry is assumed to drive the market. However, the high cost and availability of substitutes are expected to hamper the market. The market is segmented into type, source, application, and geography. Based on type, Type A is expected to hold a significant share in the market owing to its wide application in food, cosmetics, pharmaceutical, and personal care industries. Geographically, North America is projected to be a substantial shareholder in the market during the forecasted period owing to the presence of multiple key players in the market along with increasing investment in research and development to create new sources for application in countries like U.S.A and Canada.
Rising demand for dietary supplements and functional food.
Increasing application of proanthocyanidins in cosmetics and personal care products.
Availability of substitute products.
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The major players profiled in the proanthocyanidins market are Eveia Health, Elementa Food Ingredients, Naturex, Xian Yuensun Biological Technology Co., Ltd., Indena SPA, Fruit D’or, Nexira Inc., Scott Laboratories and Polyphenolics.
The proanthocyanidins market has been analyzed through the following segments:
Functional Food and Beverages
Cosmetics and Healthcare
Pharmaceutical and Dietary Products
Middle East and Africa