The global proanthocyanidins market generated $120.3 million in 2020, and is expected to reach $207.9 million by 2030, registering a CAGR of 5.7% from 2021 to 2030.
Rise in preference for products with natural ingredients, expansion of raw material sources for proanthocyanidins extraction, and surge in prevalence of obesity among population drive the global proanthocyanidins market. However, high prices of proanthocyanidins and low product awareness along with easy availability of low-cost substitutes hinder the market growth. On the contrary, expansion in online sales channels and proliferation of raw materials are expected to open new opportunities for the market players in the future.
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The global proanthocyanidins market includes an in-depth analysis of the prime market players such as Artemis International, Enomark Biotech, Eevia Health, Givaudan International SA, Fruit d’Or, INDOFINE Chemical Company, Inc., Indena S.p.A, Nexira, Natac, and Xi’an Yuensun Biological Technology Co., Ltd.
Covid-19 scenario:
- The Covid-19 pandemic disrupted the sales of proanthocyanidins-based nutraceuticals due to closure of supermarkets. However, the pandemic favored the sale of proanthocyanidins via online sales channels to boost immunity products.
- Rise in concerns regarding nutrition, easy access to information, and increase in consumer awareness regarding role of immunity and dietary supplements boosted the demand for proanthocyanidins-based products.
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The report segments the global proanthocyanidins market on the basis of source, form, sales channel, and region.
Based on source, the grapes segment is expected to portray the highest CAGR of 6.1% during the forecast period. However, the berries segment held the largest share in 2020, contributing to more than half of the market.
On the basis of form, the powder segment is projected to manifest the highest CAGR of 6.7% during the forecast period. However, the tablet segment held the lion’s share in 2020, accounting for more than four-fifths of the market.
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The global proanthocyanidins market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding more than two-fifths of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 7.4% during the forecast period.