The global market for polyphenols is expected to reach USD 1,025.7 million by 2020, according to a new study by Grand View Research, Inc. Increasing geriatric population mainly in U.S., Western Europe and Japan is expected to drive polyphenols demand over the forecast period. Growing consumer awareness regarding health benefits offered by polyphenols is also expected to augment the demand, especially in relatively developed markets. Concerns regarding constant raw material procurement and non-uniform labeling regulations across various regional markets are expected to be key challenges for industry participants.
Grape seed polyphenols emerged as the leading product segment in the global market and accounted for 53.9% of total market volume in 2013. Green tea polyphenols are expected to be the fastest growing product segment, at an estimated CAGR of 8.9% from 2014 to 2020.
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Further key findings from the study suggest:
- Global polyphenol demand was 14,070.7 tons in 2013 and is expected to reach 24,992.1 tons by 2020, growing at a CAGR of 8.7% from 2014 to 2020.
- Functional beverages dominated the application market for polyphenols and accounted for 44.3% of total market volume in 2013. In addition to being the largest application market, functional beverages are also expected to be the fastest growing application market for polyphenols at an estimated CAGR of 9% from 2014 to 2020.
- Asia Pacific continued its dominance in the global market and accounted for 40.9% of total market volume in 2013. Along with being the largest market, Asia Pacific is also expected to be the fastest growing market for polyphenols, at an estimated CAGR of 9.2% from 2014 to 2020. Asia Pacific was followed by North America and Europe in 2013, in terms of consumption.
- The global market for polyphenols is highly concentrated and is led by top multinational corporations such as Naturex, Layn Natural Ingredients and Ajinomoto OmniChem Natural Specialties. Some of the other companies operating in the global market include, Indena, Frutarom Ltd., Diana Naturals, Chr. Hansen, DuPont-Danisco, ADM and Prinova.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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