Flavanones are amongst the major group of flavonoids that are
widely obtained from citrus plants. The global flavanones market is expected to
garner a revenue of USD 140 Million by 2024 and register a CAGR of 3% during
the forecast period of 2019 to 2024. Manufacturers of flavanones are expected
to witness lucrative opportunities during the forecast period owing to the high
consumption of flavanones as flavoring agents and dietary supplements. Surging
demand for functional food ingredients and flavanones food products is expected
to render profitable opportunities to the vendors active in the global
flavanones market. Advancements in flavanones production technology such as the
use of co-cultures to produce microbial-based flavanones is expected to offer
growth opportunities to the players active in the global flavanones market.
Based on type, the global flavanones market has been divided
into hesperidin, naringenin, and others. The hesperidin segment is expected to
gain the largest revenue share and exhibit the highest growth rate during the
forecast period. This can be attributed to hesperidin’s potential biological
effects such as antibacterial, antiviral, antifungal, inhibitory,
anti-inflammatory, antioxidant, and anticarcinogenic. Additionally, it exhibits
antiadipogenic activity, cardioprotective effects, and is beneficial in the
treatment of Alzheimer's.
By application, the global flavanones market has been
classified as functional food & beverages, pharmaceuticals and
nutraceuticals, animal feed, and others. The pharmaceuticals and nutraceuticals
segment is expected to garner the largest market share throughout the review
period owing to the high consumption of flavanones in nutraceutical supplements.
However, the functional food & beverages segment is expected to register
the highest growth rate during the forecast period due to the increasing health
awareness and consumption of functional food & beverages among the
consumers.
Regional Analysis
The global flavanones market has been segmented, by region,
into North America, Europe, Asia-Pacific, and the rest of the world.
The market in North America is projected to dominate the
global flavanones market owing to the growing health concerns among consumers,
who are switching to safer food alternatives. In addition, increasing health
issues in the region such as cardiovascular diseases, obesity, and diabetes is
also driving the growth of the North American flavanones market. The growing
number of health-conscious consumers and a rise in inclination for food having
functional properties are expected to drive the growth of the market in
Asia-Pacific, which is expected to register the highest CAGR during the
forecast period.
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