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 proanthocyanidins market is estimated to account for a value of $198 million in 2019 and is projected to grow at a CAGR of 6.0% from 2019, to reach a value of $280 million by 2025.
Proanthocyanidins are rich in antioxidants and provide several health benefits to consumers; for instance, they help in healing wounds, improve bone strength, aid in skin-related issues including skin cancer, and also offer cardiovascular benefits. Hence, they are significantly witnessing high demand among manufacturers in the personal care, food & beverages, and cosmetic industries. Proanthocyanidins are witnessing a surge in demand as it finds various applications in the personal care, dietary supplement, cosmetics, and food & beverage industries. The global proanthocyanidins market is primarily driven by the health benefits and therapeutics effects offered by this ingredient and its increasing applications in the production of personal care and cosmetic products.
Pine bark is loaded with oligomeric proanthocyanidins compounds which act as super antioxidants. It is used in health supplements, mainly due to its antioxidant activity. The applications of pine bark as an additive in food is gaining acceptance among health-conscious customers. The pine bark extract segment is witnessing a surge in demand due to the nutritional benefits of pine bark extract and an increase in consumer awareness.
Type B Proanthocyanidins (PAC) are mainly found in grape seed and pine tree bark. They are widely utilized in pharmaceutical and health care applications due to the health benefits offered by type B PAC. Thus, the type B segment is projected to grow at the highest CAGR as the prevalence of diseases such as diabetes and cancer is increasing.
The pharmaceuticals & dietary supplements segment is projected to a leading segment in the proanthocyanidins market during the forecast period. With the rise in aging population, consumers are becoming more conscious and aware of various diseases that can be prevented. Consumers now rely more on alternative channels to self-diagnose themselves and also take preventive measures to keep themselves healthy. Such practices are significantly increasing the demand for proanthocyanidins in dietary supplements globally.
The North American proanthocyanidins market is projected to account for the largest share by 2025. The region has traditionally been a major consumer of proanthocyanidins. Functional foods, which provide health benefits beyond basic nutrition, have gained higher importance in the last decade. Typically, food marketed as functional food contains ingredients (such as Proanthocyanidins) with specific health benefits. Consumers are seeking added health benefits from the food consumed and increasing awareness among them is driving the growth of the functional food & beverage segment in the proanthocyanidins market.
Key players are Naturex (France), Indena SPA (Italy), Nexira Inc. (France), Polyphenolics (US), Xian Yuensun Biological Technology Co.,Ltd. (China), Natac (Spain), and Eevia Health (Finland).