Market Research Report
Asia-pacific Flavonoid Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||1000726|
|Published||Content info||131 Pages
Delivery time: 2-3 business days
|Asia-pacific Flavonoid Market Forecast 2021-2028|
|Published: April 19, 2021||Content info: 131 Pages||
The Asia-Pacific flavonoid market is estimated to progress with a CAGR of 5.08% during the estimated period of 2021 to 2028. Factors such as the increased exposure to diverse consumer products, the shifting patterns of food consumption owing to improved living standards, the growing need for functional ingredients, the developing trend of the application of multiple food colorants, and the surging demand for cancer-fighting products, primarily fuel the region's market growth.
The Asia-Pacific flavonoid market growth analysis entails the detailed assessment of Australia & New Zealand, Indonesia, Vietnam, South Korea, China, India, Thailand, Japan, and the rest of the Asia-Pacific. India's dietary supplements market depicts steady growth on account of the changing lifestyles, increasing health consciousness, and the large urban population. The country's market is also witnessing an influx of Ayurvedic dietary supplements, predominantly supplied by Sri Sri and Patanjali. These brands aggressively market the ancient science of Ayurveda as well as its advantages to consumers, thereby creating a high demand for Ayurvedic supplements. Moreover, as India experiences digitization and the rising penetration of the internet, the scope for online distribution continues to augment.
On the other hand, South Korean consumers across the beauty and personal care market are highly conscious about the ingredients within their products. As a result, they are more inclined towards organic and natural ingredients and processes used in manufacturing these products. For instance, as per a survey, nearly 44% of women in South Korea were anticipating the use of fewer chemicals and more natural elements in their beauty items. Hence, these factors play an important role in fueling the market growth in the Asia-Pacific over the forecast period.
Some of the key companies operating in the market are Foodchem International Corporation, Ashland Global Holdings, Cayman Chemical Company, etc.