Growth in awareness of consumers toward health benefits offered by Polyphenols and growth in preference of polyphenols extracted from herbal products over synthetic products drive the growth of the global polyphenol market. Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around one-third of the total market share.
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Rise in demand for herbal products, increase in health benefits offered by polyphenol, and growth in geriatric population are the major factors that fuel the polyphenol market growth. The anti-aging properties associated with polyphenols coupled with antitumor and anti-carcinogenic properties result in their applications in cosmetics and medical sectors, respectively. In addition, brewing industries are expected witness increased consumption of polyphenols owing to their application in liquors and wines. Increase in aged population has given rise to the demand for fortified food supplements to reduce the effects of chronic diseases, which is expected to positively impact the polyphenol market.
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The key players operating in the polyphenol industry have adopted product launch, business expansion, and merger & acquisition as their key strategies to expand their market share, increase profitability, and remain competitive in the market. Leading players analyzed in the polyphenol market analysis include Ajinomoto Co., Inc., Aquanova AG, Archer-Daniels-Midland Company, Botaniex, Inc., Chongqing kerui nanhai pharmaceutical co., ltd, Martin Bauer GmbH & Co. KG, Indena S.p.A., FutureCeuticals, Inc., Glanbia Nutritionals Inc., and CPC Ingredients Ltd.
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In the past few years, many countries have recognized lifestyle-related diseases as a key concern, which has led to rise in health consciousness among consumers. In addition, increase in consumer awareness regarding health benefits associated with the consumption of polyphenol fuels its demand across the globe. For instance, polyphenol helps in weight loss controls blood sugar level, lowers the risk of cardiac diseases and others. Furthermore, upsurge in geriatric population, and alarming incidence of chronic diseases have changed the eating patterns of consumers.
In addition, owing to busy lifestyle and hectic schedule, consumers are now seeking for healthy drinks, which include polyphenol as a key ingredient that can help enhance their physical and mental wellness which is also one of the emerging polyphenol market trend. Thus, all these factors collectively boost the demand for polyphenol, thereby contributing toward the growth of the market, globally.
Key findings of the study
- In 2020, green tea occupied approximately one-fourth of the total share, in terms of revenue.
- North America is expected to expand with a CAGR of 2.9% in grape seed polyphenol market from 2020 to 2030.
- In 2020, dietary supplements occupied more than one-third of the total share, in terms of revenue
- Europe and North America together occupied more than half of the total global share in 2020.
- Europe is expected to expand with a CAGR of 5.0%.
- Resveratrol is the fastest growing segment during the polyphenol market forecast period.
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