PORTLAND, Oregon, January 16, 2019 /PRNewswire/ --
Surge in geriatric population across developing and developed countries, increase in health awareness, and rise in preference for herbal products over synthetic counterparts would boost the growth of the U.S. and Europe polyphenol market.
Allied Market Research published a report, titled, "U.S. and Europe Polyphenol Market by Type (Apple, Green Tea, Grape Seed, Maracuyá/Passion Fruit, and Others), Application (Functional Beverages, Functional Foods, Dietary Supplements/Nutraceuticals, and Others): Opportunity Analysis and Industry Forecast, 2018-2025." The research provides detailed analysis of the industry dynamics, key market segments, market size & estimations, top investment pockets, and competitive landscape. According to the report, the U.S. and Europe polyphenol market accrued $392.47 billion in 2017 and is expected to garner $584.91 billion by 2025, growing at a CAGR of 5.0% from 2018 to 2025.
Growth in elderly population worldwide coupled with rise in health awareness and increase in adoption for herbal products drive the growth of the market. However, intricate processes of manufacturing and stringent regulations related to approval of polyphenols hamper the market growth. On the other hand, increase in applications of polyphenol would create new opportunities in the market in near future.
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Grapeseed segment to maintain its dominance through 2025
Among types, the grapeseed segment contributed the largest share in 2017, accounting for more than half of the total revenue. This segment is expected to maintain its dominance throughout the forecast period, owing to its anti-aging and antioxidant properties, for which, it has a significant demand in the personal care and skin care industry. However, the passion fruit segment is expected to register the highest CAGR of 6.7% from 2018 to 2025, owing to its adoption in health-related products and rise in use of fruit extracts and supplements. The report also analyzes apple, green tea, and others product types.
Functional beverages segment to witness lucrative prospects during the forecast period
Functional beverages segment accounted for the largest share in 2017, contributing more than one-third of the total market revenue in 2017. Moreover, this is segment is expected to register the highest CAGR of 5.4% during the forecast period, owing to the health benefits and convenience offered by such beverages. The report also analyzes functional food, dietary supplements, and others segments.
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Europe to maintain its leadership position by 2025
Europe contributed more than half of the total market share in 2017, owing to increase in health consciousness and rise in consumption of functional foods, functional beverages, and supplements. This segment is expected to maintain its lead throughout the forecast period. However, the U.S. is projected to grow at the fastest CAGR of 5.2% from 2018 to 2025. This is due to the increase in preference for herbal & functional products, growth in geriatric population, and rise in health awareness among the populace.
Frontrunners of the industry
The key market players analyzed in the research include Amax NutraSource, Inc., Koninklijke DSM N.V., Cargill Inc., Glanbia Nutritionals, Inc., Futureceuticals, Inc., Naturex S.A., NOF America Corporation, Swanson Health Products, Indena S.P.A., and Berkem. They have implemented various strategies such as partnerships, mergers & acquisitions, expansions, collaborations, joint ventures, and others to gain a stronghold and lead position in the market.
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