Flavonoid Market to Reach $2,926.7 million, Globally, by 2032 at 5.8% CAGR: Allied Market Research
PORTLAND, Ore., March 11, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Flavonoid Market By Product Type (Isoflavones, Anthocyanin, Others), By Form (Powder, Liquid), By Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Food And Beverages).". According to the report, the global Flavonoid Market generated $1,672.2 million in 2022 and is anticipated to generate $2,926.7 million by 2032, witnessing a CAGR of 5.8% from 2023 to 2032.
- However, the anthocyanin segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032.
- Rise in food & beverage coloring agents market including synthetic and natural colors is expected to increase the demand for Anthocyanin from various industries during the forecast period.
- Based on form, the powder segment held the highest market share in 2022, accounting for more the four-fifth of the global flavonoid market revenue and is estimated to maintain its leadership status throughout the forecast period.
- However, the Food and Beverages segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032.