Global Citrus Bioflavonoids Market Is Expected to Reach USD 5.65 Billion by 2028 : Fior Markets

Newark, NJ, Feb. 17, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global citrus bioflavonoids market is expected to grow from USD 2.94 billion in 2020 and to reach USD 5.65 billion by 2028, growing at a CAGR of 8.53% during the forecast period 2021-2028.

There are numerous health benefits present in the citrus bioflavonoids, which are serving as the primary driver for market growth. The increasing health awareness among consumers has propelled the demand for citrus bioflavonoids in packaged food and beverages. Apart from this, the increasing prevalence of chronic diseases such as diabetes, high blood pressure, sugar levels have also contributed to the growing demand. Further, the companies and researchers are publicizing the products, especially among the target population. There are many research and development organizations who are collaborating with medical laboratories for validating their clinical trials for the citrus bioflavonoid ingredients.

The citrus bioflavonoid is considered to be a beneficial compound for the treatment of several diseases, especially, for the diseases related to the heart and brain. It prevents the cell destruction of the nervous system and thus protects the brain. The effect of citrus bioflavonoids is significant on the immune system of the human body, and it is responsible for improving the Vitamin C level and digestive health. The anti-inflammatory and anti-oxidant properties of citrus bioflavonoids help to cure cancer, asthma and cardiovascular diseases replaced with kidneys.

The coronavirus pandemic has led to an increased demand for citrus bioflavonoids in the year 2020. The consumers were willing to improve their immune system and vitamin C in one of the main ingredients, which helps in doing so. The use of citrus bioflavonoids has increased in several applications such as functional foods and pharmaceuticals owing to the rising awareness about its health benefits. Further, citrus bioflavonoid is being actively used in dietary supplements due to the growing fitness enthusiast population. However, the increasing regulations regarding the use of citrus bioflavonoids in pharmaceutical products are hampering the growth of the market.

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Key players operating in the citrus bioflavonoids market are Solgar Inc., Nature LLC, Freeda Vitamins Inc., Natural Factors Inc., Cayman Chemical Company, Santa Cruz Biotechnology Inc., Merck KGaA, NOW Foods, Organika Health Products Inc., Nans Products, Hunan Sunfull Bio-tech Co., BOC Sciences, Yaan Times Biotech, Nacalai Tesque Inc., Country Life, J&K Scientific Ltd., Destilaciones Bordas Chinchurreta S.A., Hunan Yuantong Pharmaceutical Co., Ltd., MORRE-TEC Industries, Yakult Honsha Co., Ltd. among others. The major players in the citrus bioflavonoids market focus on expansionary strategies such as mergers & acquisitions, recent developments, joint ventures, collaborations, product innovations and partnerships. These strategies would extract higher market shares for the players and strengthen their position in the global citrus bioflavonoids market. Merck KGaA and Nature LLC are some of the biggest manufacturers and suppliers of citrus bioflavonoids worldwide.

The conventional segment dominated the market and held the largest market share of 74.92% in the year 2020

Based on the type segment, the global citrus bioflavonoids market includes conventional and organic. The conventional segment dominated the market and held the largest market share of 74.92% in the year 2020. Conventional citrus bioflavonoids are found naturally in the fruits which are rich in vitamin C. The conventional type is considered to be pure and free from any harmful chemicals. Thus, the demand for conventional citrus bioflavonoids is high, especially in food and beverages application.

The oranges segment dominated the market and held the largest market share of 39.58% in the year 2020

Based on the source segment, the global citrus bioflavonoids market includes mandarins, oranges, grapefruit, lime and lemon, and tangerines. The oranges segment dominated the market and held the largest market share of 39.58% in the year 2020. Oranges are the best conventional source for citrus bioflavonoids. Also, oranges are used in the manufacturing of various food and beverages products owing to its flavours.

The hesperidin segment dominated the market and held the largest market share of 24.61% in the year 2020

Based on the product segment, the global citrus bioflavonoids market includes eriocitrin, diosmin, narirutin, hesperidin, apigenin, naringin, rutin, tengeretin, quercetin and others. The hesperidin segment dominated the market and held the largest market share of 24.61% in the year 2020. Hesperidin is a type of flavanone glycoside which is mainly found in the citrus fruits. These are most commonly used for the treatment of blood vessel conditions such as varicose veins, haemorrhoids, venous stasis, etc. as it is found to improve the function of blood vessels and reduction of inflammation.

The food and beverages segment dominated the market and held the largest market share of 34.91% in the year 2020

Based on the application segment, the global citrus bioflavonoids market includes food and beverages, pharmaceutical and functional products, dietary supplements, animal feed, and cosmetics and personal care. The food and beverages segment dominated the market and held the largest market share of 34.91% in the year 2020. The growing demand for clean label products by the fitness enthusiast consumers is driving the growth of the market. Also, the growing trend of eliminating the use of phosphates, titanium dioxide, carrageenan, etc., will propel the demand for citrus bioflavonoids in packaged food and beverages.

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The supermarkets and hypermarkets segment dominated the market and held the largest market share of 30.21% in the year 2020

Based on the distribution channel segment, the global citrus bioflavonoids market includes supermarkets and hypermarkets, grocery retailers, pharmacies, herbal speciality stores, online and others. The supermarkets and hypermarkets segment dominated the market and held the largest market share of 30.21% in the year 2020. The supermarkets and hypermarkets offer a wide variety of citrus bioflavonoids products. Also, their extensive presence contributes majorly to the dominant market shares.

Regional Segment Analysis of the Citrus Bioflavonoids Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global citrus bioflavonoids market is classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Europe accounted for a significant market share of 36.12% in the year 2020. The local population of the region has an inclination towards nutritious food products due to the growing per capita income. Further, the rising geriatric population is leading to a strong growth of the product in pharmaceutical applications. However, Asia-Pacific is expected to witness a lucrative growth rate during 2021-2028. The growing health issues in the region, coupled with rising awareness for healthy eating, is accelerating the growth of the market in many countries of the region. Also, the increasing penetration in the region by key vendors is expected to drive the market growth further.

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About the report:

The global citrus bioflavonoids market is analyzed based on value (USD Billion), volume (grams), export (grams), and import (grams). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the market’s key insight. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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