Global Flavonoid Vegetables Market - 2024-2031

Overview

Global Flavonoid Vegetables Market reached US$ 400.1 million in 2023 and is expected to reach US$ 672.1 million by 2031, growing with a CAGR of 6.7% during the forecast period 2024-2031.

The growing popularity of plant-based diets is contributing to increased consumption of flavonoid-rich vegetables. As consumers embraced plant-centric eating patterns for health, environmental, and ethical reasons, demand for vegetables high in flavonoids surged, boosting market growth. Market players are also investing in innovation to enhance the processing and packaging of flavonoid-rich vegetables.

The North American market is witnessing a growing focus on health and wellness, boosting demand for functional foods like flavonoid-rich vegetables. Consumers are increasingly seeking out foods that offer health benefits beyond basic nutrition, leading to increased consumption of flavonoid-rich vegetables as part of a balanced diet. Market players in North America are responding to growing demand by innovating and diversifying their product offerings in the flavonoid vegetables market.

For instance, on June 26, 2023, according to Gills Onions, the widespread use of onions in 93 percent of American dining establishments serves as a significant link in boosting the North American flavonoid vegetable market. Onions are among the top menu items for appetizers, featuring prominently in popular dishes such as onion rings, onion blooms, and French onion soup. The rising popularity of red onions in the U.S. food service scene further strengthens the region market, as it expands the variety and availability of flavonoid-rich vegetables in North America.

Dynamics

Expansion of Health-Conscious Consumer Base

The expanding health-conscious consumer base is causing a shift in market preferences toward healthier food options. This trend translates into greater demand for flavonoid vegetables, driving market growth as producers respond to consumer preferences. As more consumers prioritize health and wellness, there is a growing demand for natural, nutrient-rich foods like flavonoid vegetables. This increased demand directly influences market growth by creating a larger customer base for flavonoid-rich products.

Health-conscious consumers are often willing to pay a premium for products perceived as healthier or more nutritious. This trend encourages producers to develop value-added products such as pre-packaged salads, smoothie mixes, or ready-to-eat vegetable snacks fortified with flavonoids, thus driving market growth through increased product innovation and revenue streams.

For instance, on December 16, 2023, according to Gintux Organization, the expansion of the health-conscious consumer base in the United States was driven by that consumers allocated 9% more of their budget to purchasing healthy foods, reflecting a strong commitment to prioritizing health in their dietary choices. Furthermore, a significant portion of health-conscious consumers, accounting for 43%, are willing to pay a premium price for healthier products, indicating their readiness to invest in items that contribute to their overall well-being.

Additionally, an overwhelming 91% of health-conscious consumers actively pursue health and wellness, highlighting a growing awareness of the importance of maintaining a healthy lifestyle. A preference for organic food products is also evident among this demographic, with 47% expressing a preference for such options, which are factors driving the global flavonoid vegetables market growth.

Rising Demand for Functional Foods

The growing emphasis on health and wellness is driving the adoption of functional foods, including flavonoid vegetables, as part of a balanced diet. Market players are leveraging this trend by promoting the health benefits of flavonoids, such as their antioxidant properties and potential to reduce the risk of chronic diseases, thus driving the global flavonoid vegetable market growth.

The rising demand for functional foods is driving innovation in product formulations, including flavonoid-rich vegetables. Market players are developing new formulations and fortification techniques to enhance the nutritional profile of flavonoid vegetables, making them more appealing to health-conscious consumers and driving the global flavonoid vegetable market growth.

For instance, on April 1, 2022, according to the Institute of Food Technologists Organization, there was a significant increase in global sales of fortified/functional foods, reaching $292 billion in 2021 compared to $274 billion in 2020. A survey conducted by Kerry across 16 countries revealed that 42% of consumers bought more functional foods in 2021 than in the previous year, indicating a growing interest in products offering health benefits.

Limited Consumer Awareness

Limited consumer awareness about the health benefits of flavonoid-rich vegetables results in reduced demand for these products in the market. Consumers may not actively seek out flavonoid vegetables, leading to lower sales and slower market growth. Without adequate awareness, consumers may not distinguish flavonoid-rich vegetables from other produce options, which hampers market growth as producers struggle to position their products effectively and compete in the market.

Limited consumer awareness poses challenges for marketing and promotion efforts targeting flavonoid vegetables. Market players need to invest more vegetables in educational campaigns and promotional activities to raise awareness about the health benefits of flavonoid-rich vegetables, which can increase marketing costs and impact profitability, restraining the flavonoid vegetable market growth.

Segment Analysis

The global flavonoid vegetables market is segmented based on vegetables, compounds, applications, and region.

Wide Availability and Consumption and Long Shelf Life of Onions

Onions holds the largest share of the global market. Onions are the most widely consumed vegetables globally, with a presence in various cuisines and culinary traditions worldwide. This widespread consumption contributes to the significant market share held by the onions segment. The high concentration of flavonoids in onions makes them highly sought after by health-conscious consumers, further boosting segment growth.

For instance, according to the U.S. National Onion Association, global onion production is estimated to reach around 105 billion pounds annually. On average, each person worldwide consumes approximately 13.67 pounds of onions per year. Notably, Libya stands out with the highest onion consumption, boasting an impressive average per capita intake of 66.8 pounds.

Onions have a relatively long shelf life and can be stored for extended periods under proper conditions. This characteristic makes them a preferred choice for consumers and food manufacturers alike, ensuring consistent demand for the onions segment. Market players are capitalizing on the popularity of onions by developing value-added products such as onion powder, flakes, and extracts, further contributing to the market dominance of the onions segment within the flavonoid vegetables market.

Geographical Penetration

Strong Agricultural Sector and Innovations in North America

North America dominates the global flavonoid vegetables market. North America has a large and diverse population with a significant portion actively seeking out healthy and nutritious food options. This consumer base drives substantial demand for flavonoid-rich vegetables, contributing to North America's dominance in the global flavonoid vegetables market.

For instance, on April 1, 2022, according to the Institute of Food Technologists Organization, the sales of functional food and drinks in the United States reached $83 billion in 2021, marking a 6.8% increase compared to 2020. These findings underscore the rising demand for functional foods globally and in the U.S., reflecting consumers' increasing focus on nutrition and wellness.

The region's favorable climate conditions, advanced farming techniques, and infrastructure support efficient production and supply of these vegetables to meet both domestic and international demand. North American market players continually introduce new varieties, value-added products, and packaging innovations to meet evolving consumer preferences and differentiate their offerings in the competitive market landscape.

COVID-19 Impact Analysis

The pandemic disrupted global supply chains, affecting the production, transportation, and distribution of flavonoid vegetables. Lockdowns, travel restrictions, and labor shortages led to delays in harvesting, processing, and shipping, causing disruptions in the supply of flavonoid-rich vegetables to the market. Fluctuations in prices of agricultural commodities, including flavonoid-rich vegetables, were observed during the pandemic due to supply chain disruptions, labor shortages, and changes in demand dynamics.

Consumer behavior shifted during the pandemic, with an increased focus on health and nutrition. This led to a growing interest in functional foods, including flavonoid-rich vegetables, as consumers sought to bolster their immune systems and maintain overall health. As a result, there was a surge in demand for these products, driving market growth despite supply chain challenges.

Russia-Ukraine War Impact Analysis

The conflict disrupted agricultural activities in both Russia and Ukraine, major producers of vegetables including flavonoid-rich varieties. These disruptions led to shortages and difficulties in sourcing flavonoid vegetables, affecting the global market. Market players faced challenges in maintaining consistent supply chains and meeting consumer demand, which slowed down the market growth.

The war prompted importing countries to diversify their Vegetabless of flavonoid vegetables to mitigate risks associated with the conflict. This resulted in shifts in global trade patterns, with some countries seeking alternative suppliers or reducing their reliance on Russia and Ukraine. Market players had to adapt to changing trade dynamics and explore new markets to maintain their competitiveness.

By Vegetables

• Onions
• Hot peppers
• Kale
• Broccoli
• Rutabagas
• Spinach
• Others

By Compounds

• Quercetin
• Kaempferol
• Myricetin
• Others

By Application

• Anticancer
• Antioxidant
• Anti-inflammatory
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On January 7, 2022, Conagen introduced a sustainable antioxidant kaempferol through its proprietary fermentation process. This breakthrough enables beauty and personal care brands to embrace a more natural positioning, meeting the increasing consumer demand for clean and sustainable products. Kaempferol, a flavonoid renowned for its health-promoting properties, is naturally found in tea, fruits, and vegetables, particularly abundant in green leafy vegetables like spinach and kale.
• On December 12, 2023, Florida A&M University (FAMU) announced a groundbreaking discovery: flavonoids, natural compounds commonly found in fruits and vegetables, may present a promising new treatment avenue. It is the remarkable aspect of these compounds is their non-toxic nature and their potential to combat chemotherapy resistance in breast cancer patients.

Competitive Landscape

The major global players in the flavonoid vegetables market include Bordas S.A., Otto Chemie Pvt. Ltd., Conagen, Inc., Aadhunik Ayurveda Vitals, Cocoatrait, NP Nutra, Clearsynth, Fruitomed, Merck KGaA, Biosyntia.

Why Purchase the Report?

• To visualize the global flavonoid vegetables market segmentation based on vegetables, compounds, applications, and regions, as well as understand critical commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous flavonoid vegetables market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of critical products of all the major players.

The global flavonoid vegetables market report would provide approximately 62 tables, 58 figures, and 213 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies