Global Polyphenols Market is anticipated to reach USD 1.33 billion by 2024. Polyphenols are also known as “Polyhydroxyphenols”. Polyphenols are characterized by the presence of huge multiples of phenol structural components. Polyphenols are characterized by numerous health benefits. As per study, polyphenols play a vital role in reducing and preventing the progression of cancer, diabetes, and cardiovascular & neurodegenerative diseases.
The factors that propel the growth of the Polyphenols Market include increase in demand for herbal products, improvement in health by polyphenol, increase in aged population, anti-aging properties related to polyphenols, R&D activities and technical advancements. On the other hand, there are factors that may hamper the growth of the market including strict administration guidelines and rules regarding tea polyphenols and its supplements, and several side effects related to inappropriate consumption. The industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Polyphenols industry may be explored by product type, application, and geography. The market may be explored by product type as Apple, Grape Seed, Green Tea, and Others. The “Grape seed polyphenol extract” segment led the Polyphenol Market in 2014 and is anticipated to maintain its dominance by 2024 owing to growing applications of green tea and grape seed polyphenol extracts in verticals such as cosmetics, pharmaceuticals, and food industries.
The key applications that could be explored in the Polyphenols industry include Functional Beverages, Functional Food, Dietary Supplements, and Others. The “Functional Beverage” segment led the polyphenols industry in 2015 and is anticipated to maintain its dominance by 2024 due to growing consumption of nutritive beverages. Asia-Pacific accounted for the major share of the Polyphenols Market Size in 2014 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising aged populace in China and Japan.
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Some of the key players that fuel the growth of the polyphenol industry comprise Ajinomoto OmniChem Natural Specialities, Naturex, Frutarom Ltd., Indena S.P.A, Diana Naturals, LaynNatural Ingredients Corp, Martin Bauer Group., DSM, Chr. Hansen, ADM, DuPont Danisco, Barry Callebaut, Blue California, Prinova, FutureCeuticals, Amax Nutra Source Inc., Glanbia Nutritionals, Fruitomed, and Cargill Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.