The Global Polyphenol Market was valued at US$ 1,703.9 Mn in 2022, exhibiting a CAGR of 6.2% in terms of revenue, over the forecast period (2023-2030) to reach US$2,750.6 Mn by 2030.
Global polyphenol Market by Source (Grapes, Green Tea, Cocoa, Berries, Other Sources) By Application (Functional Foods, Dietary Supplements, Beverages, Other Application) By Region (North America, Latin America, Asia Pacific, Europe, Middle East and Africa)
Global Polyphenol Market: Drivers
Increasing demand for natural and healthy ingredients
Consumers are becoming more health-conscious and are seeking out natural and healthy ingredients in their food and beverage products. Polyphenols are known for their antioxidant and anti-inflammatory properties, and are therefore a popular ingredient in functional foods and supplements.
Growing prevalence of chronic diseases
Chronic diseases such as heart disease, diabetes, and cancer are on the rise globally, driving demand for products that can help to prevent or manage these conditions. Polyphenols have been found to have a range of health benefits, including the ability to reduce inflammation, lower blood pressure, and improve cardiovascular health. According to the national centre for biotechnology information, the number of people in U.S. aged 50 years and older will increases by 61.11%from 137.25 million in 2020 to 221.3 million in 2050.the number at least one chronic dieses is estimated to increase by 99.5% from 17.522 million in 2020 to 142.66million by 2050 of the population of 50 years and older
Global Polyphenol Market: Opportunities
Advancements in extraction and purification technology
The extraction and purification of polyphenols can be a complex and expensive process, but advancements in technology are making it more efficient and cost-effective. This is enabling manufacturers to produce high-quality polyphenol extracts at a lower cost, which could help to expand the market for these products. For instance, the global plant extract market is expected to reach USD 63.84 billion by 2025, providing a significant opportunity for the polyphenol market.
Global Polyphenol Market: Restraints
Limited availability of raw materials
Polyphenols are primarily derived from plant-based sources such as fruits, vegetables, and herbs. The availability of these raw materials can be affected by factors such as weather conditions, pests, and diseases. This can lead to fluctuations in supply and pricing, which can impact the profitability of polyphenol manufacturers.
Limited consumer awareness
Despite the growing interest in natural and healthy ingredients, many consumers are still not familiar with polyphenols and their potential health benefits. This can limit the demand for polyphenol-containing products and make it difficult for manufacturers to market their products effectively.
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https://www.coherentmarketinsights.com/market-insight/polyphenol-market-5299
Global Polyphenol Market - Impact of Coronavirus (Covid-19) Pandemic
Increasing COVID-19 cases globally has led to a global lockdown and restricted supply chains. Consumers are changing how they shop in response to health and safety concerns, with overall consumer spending declining, and intent to spend in essential categories increasing. Thus, the COVID-19 outbreak had impacted the growth of the market for polyphenols. In the polyphenol industry, a major slowdown in polyphenol sales was witnessed in the first quarter of 2020 due to disruptions in logistics and transportation. The market also witnessed interruptions in the entire value chain, from raw material supply for culture media to production, packaging, and biomass distribution.
Key Takeaways:
The global polyphenol market was valued at US$1,703.9 Mn in 2022 and is forecast to reach a value of US$ 2,750.6 Mn by 2030 at a CAGR of 6.2% between 2023 and 2030.
Green tea segment held a dominant position in the global polyphenol market in 2020, accounting for 38.12% share in terms of value. Increasing approval and the launch of new products are expected to propel growth of the segment during the forecast period.
Global Polyphenol Market Trends:
The growing popularity of cocoa polyphenols is acting as a major trend in the market. Polyphenols found in cocoa belong to the category of flavonoids. Flavonoids have shown a positive influence on cardiovascular conditions such as heart attack and thrombosis. They have also shown positive effects on blood platelets and the immune system.
Growing demand for functional food due to rising health and wellness trends is projected to fuel market growth. Factors such as the hectic lifestyle of consumers and changing eating habits are contributing to the demand for functional food.
Global Polyphenol Market: Competitive Landscape
Competitive landscape of Global polyphenol market are Archer Daniels Midland Company, Kemin Industries, International Flavors & Fragrances Inc., Aquanova AG, Ajinomoto Co. Inc., Penta International Corp, Chr., Hansen A/S, Biolink Group, Indena SpA, Symrise AG, and Van Drunen Farms.
Global Polyphenol Market: Recent Developments
In February 2021, IFF (International Flavors & Fragrances Inc) is a global leader in food, beverage, health, biosciences, and scent, received non-GMO project-verified certification for its Benolea® (EFLA® 943), an olive leaf extract clinically shown to support cardiovascular health. In addition, the company recently received recognition by the Council of Ecological Agriculture of the Region of Murcia (CAIRM) for an organic grade of Benolea available to its customers. These new certifications endorse the ingredient as a trusted and transparently sourced all-natural product. The olive leaves used for IFF’s unique formulation are nurtured and harvested in Spain as a side stream of the olive oil industry.
