Market Research Report
North America Flavonoid Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||1000728|
|Published||Content info||119 Pages
Delivery time: 2-3 business days
|North America Flavonoid Market Forecast 2021-2028|
|Published: April 19, 2021||Content info: 119 Pages||
The North America flavonoid market growth is set to register a CAGR of 3.89% during the forecast period, 2021-2028. The market growth is attributed to the thriving pharmaceutical, functional foods, and nutraceutical markets.
The United States and Canada are assessed for the North America flavonoid market growth analysis. In Canada, the growing usage of dietary supplements by the geriatric population drives the market growth. The growth drivers include the increasing baby-boom population and growing health awareness. Joint health supplements like chondroitin and glucosamine, and vitality & anti-aging supplements like omega-3 fish oils and antioxidants are projected to be in high demand. The increasing self-care awareness and product innovations further drive the demand for dietary supplements, thereby propelling flavonoids market growth. The cosmetics market is expected to project a steady growth by 2025.
Pharmaceutical sales in Canada harbor a 2.1% share globally, making the country the ninth largest world market. The CAGR has remained stable at 5.1% since 2015. Several companies are undertaking research & development to develop bio-equivalent copies of innovative drugs after patent expiry. Such factors, along with the flourishing dietary supplement & cosmetic industries, and the emerging fields of biopharmaceuticals, are expected to influence Canada's market growth.
Some of the prominent companies in the market are Bioriginal Food and Science Corp, Foodchem International Corporation, Bordas SA, Cayman Chemical Company, Extrasynthese, etc.