Global Citrus Bioflavonoids Market - 2023-2030

Market Overview

Citrus Bioflavonoids Market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 7.2% during the forecast period (2023-2030).

Citrus bioflavonoid is the pigmented part of plant-derived from fruits high in Vitamin C which includes oranges, lemons, grapefruit, and peels of these fruits. It contains antioxidants which help in sustaining a healthy life. Citrus bioflavonoid is considered as the beneficial product for human health as it helps in the improvement of the immune system, maintaining a healthy heart and decreases the chances of cardiac diseases, kidney-related diseases, blood pressure, and reduces the chance of asthma or cancer.

In addition, bioflavonoids play a key role in the prevention of renal disease development and in the regulates the blood sugar levels. These health-promoting benefits of flavonoids increase its demand as supplements and in food & beverages as well as pharmaceutical industry which propels the growth of the citrus bioflavonoid market. Moreover, growing awareness and acceptance for herbal supplements are also expected to fuel the growth of the market.

Market Dynamics: Rising consumer awareness regarding heath supplements

Citrus bioflavonoid is a well-known natural supplement among the consumers and also acts as a natural endurance and performance enhancer. The increasing popularity about the health supplements and increases awareness about health among the consumers as well as gymers has increased the demand of this product many folds. In addition, high amount of heath claims about the citrus bioflavonoid from the manufacturers have certainly attracted consumers, this has led to variety of product launches in the supplement segment which has added to the growth of the market.

In addition, the increased demand for citrus flavonoid in food & beverage industry where these health claims for herbal based products are often regarded as pure, non-toxic and highly benefited for health and beauty. This has ultimately led consumers more attracted towards herbal products which are regarded as unadulterated and have little to no harm in consumption.

Furthermore, research derived advertisements are acting as a driving force for a growth in citrus bioflavonoid demand. For instance, in 2020 according to digital journal, the global market for herbal supplements reached a value of US$ 6.3 Billion in 2020. Thus, the increased demand for herbal supplements adds to the growth of the citrus flavonoids market.

Market Segmentation: Organic stands for the highest share in global citrus bioflavonoids market

In 2021, the organic segment had the highest revenue share of YY percent. This is mainly due to the rising demand for organic products in developing and developed countries are expected to add to the growth of the organic segment. In addition, the change in customer demand on organic products is one of the key trends likely to positively influence the citrus bioflavonoids market. This is due to the organic bioflavonoids is attracting the consumer base as it is derived from pure, decidedly effective, and toxin-free organic farming. Furthermore, the increasing awareness about the organic citrus flavonoids benefits such as it acts as a natural medication, owing to its antioxidant, antimicrobial, and anti-inflammatory properties in them and makes them the most feasible choice for up-to-date health-conscious consumers.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. The increasing adoption of citrus bioflavonoids for applications in food & beverage and pharmaceutical industries in the countries, like the US and Canada is expected to drive the growth of the North America citrus bioflavonoids market in the future. For instance, in 2020 according to the health careers, the U.S. sale for total organic food was 46% and 62% of Americans reveal they would choose organic if it were more affordable.

In addition, the market in the Asia Pacific is also projected to grow rapidly. This is due to the increasing usage of citrus bioflavonoids for pharmaceutical applications, and the highest production of citrus bioflavonoids, mostly in developing countries such as India, and China, in the APAC region are factors expected to fuel the growth of the citrus bioflavonoids market.

Competitive Landscape:

The global citrus bioflavonoids market is competitive and comprises players such as Nature LLC, Solgar Inc., Freeda Vitamins Inc., NOW Foods, Organika Health Products Inc., Natural Factors Inc., Thermo Fisher Scientific Inc., Country Life LLC., Merck KGaA and Cayman Chemical Company among others. The citrus bioflavonoids market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as agreements and product innovation for various applications. In addition, rising research and development activities for herbal supplements and rising demand for variety of organic supplements in various industries enables manufacturers to launch new products in the market. Furthermore, manufacturers are also incorporating acquisition, joint ventures and collaborations to fulfill consumer demands. For instance, in March 2019, Yakult Honsha Co., Ltd. has introduced a new synbiotic beverage in the South Korean market; the product is enriched with an active bioflavonoid - MicrobiomeX.

COVID-19 Impact: Negative effect global citrus bioflavonoids market

The citrus bioflavonoids market had a negative impact due to COVID-19 pandemic owing to the sudden shutdown of many companies which affected the manufacturing and trading of citrus bioflavonoids. Furthermore, the disruption in supply chain had slow down the sales citrus bioflavonoids market and decreased business. In addition, the rise in demand for e-commerce sector has led to changes in business marketing strategies. However, there has been increase in the demand for citrus bioflavonoids, owing increased awareness about various benefits of herbal supplements such as citrus bioflavonoids which adds to the growth of the market.

The global citrus bioflavonoids market report would provide an access to approximately 69 market data tables, 67 figures and 171 pages.