The proanthocyanidins market is estimated to account for a value of USD 198 million in 2019 and is projected to grow at a CAGR of 6.0% from 2019, to reach a value of USD 280 million by 2025. Increasing preference for products with natural ingredients, rising demand for functional food & beverage products, and growing application in the personal and cosmetic industries are some of the factors driving the growth of the proanthocyanidins market. Manufacturers in this market are focusing on developing proanthocyanidin products that cater to various applications such as healthcare, skincare, functional food & beverages, and pet nutrition.
The pharmaceuticals & dietary supplements segment is estimated to account for the largest market share, followed by the functional food & beverages and personal care & cosmetics segments.
With the rise in the aging population, consumers are becoming more conscious and aware of various diseases that can be prevented by consuming natural foods and supplements. This concern has driven the growth of the pharmaceuticals & dietary supplements segment in the proanthocyanidins market. Health-conscious consumers prefer balanced diet alternatives that include health supplements derived from natural extracts such as proanthocyanidins.
North America is the fastest-growing market for proanthocyanidins; it is projected to record the highest CAGR during the forecast period. North America is a large consumer of proanthocyanidins. The rise in the aging population, increased the consumption of healthy food, and growing demand for pharmaceuticals are the major factors driving the market in North America.
The key players in the proanthocyanidins market include Naturex (France), Indena SPA (Italy), Nexira Inc. (France), Polyphenolics (US), Xian Yuensun Biological Technology Co.,Ltd. (China), Natac (China), Eevia Health (Finland), Fruit D’or (Canada), Scott Laboratories (US), Elementa Food Ingredients (France), and Changsha Botaniex Inc. (China). Market leaders such as Naturex (France) and Nexira (France) are focusing on tapping the potential markets through new product development launches, expansions, and investments.
