The global polyphenols market is expected to reach USD 2.08 billion by 2025, according to a new report by Grand View Research, Inc. Growing functional food & beverage industry is projected to drive the product demand over the forecast period.
The use of advanced technology as compared to the traditional distillation methods for extracting polyphenols from herbs, plants, fruits, and vegetables is expected to result in reduced production costs over the coming years. Green tea segment is growing at a rapid pace owing to its increasing consumption as a functional beverage.
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Polyphenols derived from apples have a substantial impact regarding preventing and reversing the effects of oxidation, inflammation, and glycation. Anti-aging nutrients and the longevity of lifespan offered by apple polyphenols are factors likely to contribute to the growth of the market over the forecast period.
The use of polyphenols in the functional food industry is expected to witness an increase on account of the ascending demand for ready-to-go meals, oats, cereals, and bakery & confectionery products. The self-affirmed GRAS status given for the use of polyphenols in manufacturing food products is anticipated to influence the industry growth positively.
In terms of volume, Asia Pacific emerged as the largest regional market followed by North America. China and India are projected to witness significant growth over the forecast period. The increasing availability of raw materials in the Asia Pacific is also expected to contribute to the growth of the polyphenols industry.
Changing demographics and lifestyles, rising health concerns, favorable research studies, and technological developments are factors anticipated to drive the market over the next few years. Expansions and investments made by industry participants to meet the increasing product demand in the U.S., China, and Eastern Europe are projected to offer significant market growth opportunities.
Further key findings from the report suggest:
- In terms of revenue, the grapeseed product segment is expected to grow at a CAGR of 7.3% over the forecast period
- Functional beverage application dominated the polyphenols market with a market share of over 35% in 2017
- In the U.S., development of preventive healthcare and government focus on improving the national health standard are some of the significant factors which are contributing toward industry growth.
- Some of the key industry participants present in the sector are Cargill, Inc., Chr. Hansen, Ajinomoto, Archer Daniels Midland (ADM), HERZA Schokolade GmbH& Co. KG, Indena S.p.A., Martin Bauer Group, and Frutarom ltd.