Ajinomoto OmniChem Natural Specialities, Indena S.P.A., Diana Naturals, Naturex, Frutarom Ltd., and Martin Bauer Group are some of the key players in the global polyphenols market. Strategic collaborations, product launches, and acquisitions are among the winning strategies adopted by the key players to strengthen their foothold in the global polyphenols market, finds Transparency Market Research (TMR) in a new study. With forecasts about the demand for polyphenols to rise c in the coming years, market players are gearing to roll various strategies they have up their sleeves to gain competitive edge. This is expected to positively influence the global polyphenols market.
According to TMR, the global polyphenols market, is expected to reach US$873.7 mn by the end of 2018, exhibiting a CAGR of 6.1% between 2012 and 2018. Regionally, the global polyphenols market encompass Europe, North America, Asia Pacific, and Rest of the World. Among these, Asia pacific emerged dominant in 2011 with a share of 40% of the overall market in terms of volume. Meanwhile, the polyphenols market in Europe has reached stagnancy and is expected to record tepid growth in the near future.
Based on product, the market was led by the grape seed segment, which held nearly 50% of the overall market in 2011. Grape seed polyphenols are rich in anthocyanin sources, which is why they are increasingly used in the treatment for cancer and diabetes. This is the key reason behind its dominance. The green tea polyphenols segment held the second-largest share in the market due to its use in the treatment of skin tumors, obesity, and anogenital warts.
Increasing Incidence of Chronic Ailments to Create Growth Opportunities
The global polyphenols market is expected to record accelerated growth in response to the increasing incidence of chronic ailments such as cardiovascular diseases, cancer, diabetes, and lung disease. The demand for effective treatment for these diseases continue to rise and so does the demand for early and accurate diagnosis. These factors together have paved way for the growth of the global polyphenols market. According to the report, latest innovations in the polyphenols market are aimed at facilitating drug delivery. The cumulative effect of these factors on the overall market is expected to be positive, thus enabling it report impressive CAGR in the coming years.
Furthermore, the market witnesses significantly opportunities in the rising geriatric population. In the last couple of years the demand for anti-wrinkle, anti-aging, and skin whitening products has surged spectacularly. The inclination towards looking younger than their actual biological age has driven consumers in favor of various skin care regimes that promise to offer the same. Because anti-aging products often include polyphenols, the aforementioned trend is expected to create lucrative prospects for the global polyphenols market. Besides this, polyphenols protects skin from harmful UV rays, which is why their use in sunscreen has increased.
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Rising Demand from Functional Beverage and Functional Food Segment to Aid Expansion
In the coming years, the demand for polyphenols is expected to rise considerably in the functional beverage and functional food segments. This is expected to contribute significantly to the growth witnessed in the global polyphenols market. The rising health awareness among consumers is projected to facilitate growth in the segment. Besides this, the increasing demand from the dietary supplement segment is expected to aid the market’s expansion. Spurred by these factors, the global polyphenols market will exhibit growth at a positive rate in the coming years.