Citrus Bioflavonoids Market to Reach USD 1633.7 Million by 2031, Driven by Growing Pharmaceutical Applications
Apr 2024
Food and Beverages
As per the report published by Kings Research, the global Citrus Bioflavonoids Market was valued at USD 915.2 million in 2023. The market is projected to reach USD 1633.7 million by 2031, growing at a CAGR of 7.5% from 2024 to 2031.
The citrus bioflavonoids market is witnessing consistent growth driven by increasing consumer awareness of the health benefits associated with these compounds. The rising emphasis on natural ingredients and plant-based supplements has led to the popularity of citrus bioflavonoids, primarily due to their antioxidant properties and potential to promote overall health and well-being.
Furthermore, the growing demand for dietary supplements and functional foods has further propelled the growth of the market for citrus bioflavonoids, as they are frequently incorporated into formulations to enhance immunity and support cardiovascular health. Ongoing research continues to unveil additional benefits of citrus bioflavonoids, including their anti-inflammatory and anti-cancer properties. are actively exploring novel avenues to incorporate citrus bioflavonoids into a broader range of products, ranging from beauty supplements to sports nutrition. As consumers prioritize their health and actively seek natural solutions for their overall well-being, the market is likely to observe strong growth in the coming years.
Key Insights
- Based on type, the hesperidin segment held the largest market share of 37.5% in 2023
- Based on application, the orange & mandarine segment generated the highest revenue of USD 500.3 million in 2023
- On the basis of region, North America accounted for the largest market share of 31.0% in 2023
Rising Demand for Natural Ingredients in Cosmetics to Drive Market Growth
The rising consumer inclination toward natural and organic products has triggered a significant upsurge in the demand for natural ingredients in the cosmetics industry. Citrus bioflavonoids, extracted from citrus fruits like oranges, lemons, and grapefruits, have garnered considerable attention due to their antioxidant and anti-inflammatory properties. These bioflavonoids are recognized for their ability to safeguard the skin against environmental stressors and stimulate collagen production, thereby promoting healthy skin. As consumers increasingly prioritize ingredient transparency in their skincare products, the citrus bioflavonoids market is expected to sustain its growth trajectory.
Furthermore, the emergence of clean beauty trends and the growing preference for sustainable and eco-friendly products are fueling the demand for citrus bioflavonoids in cosmetics. Citrus bioflavonoids are being increasingly integrated into natural and organic skincare formulations as they offer a natural alternative to synthetic chemicals. With their proven efficacy in enhancing skin health and being environmentally friendly numerous beauty brands are incorporating these potent antioxidants into their product offerings, which is foreseen to positively impact the citrus bioflavonoids market outlook.
Growing Pharmaceutical Applications of Citrus Bioflavonoids to Foster Market Growth
The pharmaceutical industry has witnessed a surge in interest surrounding citrus bioflavonoids, primarily due to their notable antioxidant and anti-inflammatory properties. These compounds have demonstrated potential in the treatment of various health conditions ranging from allergies to cardiovascular diseases. As scientific research continues to uncover the diverse benefits of citrus bioflavonoids, pharmaceutical companies are increasingly incorporating these natural compounds into their product formulations. This growing adoption of citrus bioflavonoids in pharmaceutical applications is a driving force behind the expansion of the citrus bioflavonoids market.
As consumer awareness regarding the health advantages of citrus bioflavonoids continues to escalate, the demand for products containing these compounds is expected to rise correspondingly. Apart from their antioxidant and anti-inflammatory properties, citrus bioflavonoids have also been associated with improved immune function and skin health. With ongoing research shedding light on the potential therapeutic effects of citrus bioflavonoids, they are likely to be increasingly integrated into pharmaceutical products.
North America to Dominate the Market with a Share of 31.0% in 2023
Based on region, the global citrus bioflavonoids market is classified into North America, Europe, Asia Pacific, MEA, and Latin America. North America is dominating the citrus bioflavonoids market owing to the favorable climate that supports the cultivation of high-quality citrus fruits, providing abundant raw materials for bioflavonoid extraction. Additionally, North America possesses a well-established infrastructure for processing and distribution, facilitating efficient supply chain management and timely product delivery to consumers. Moreover, the region's robust research and development capabilities have created innovative citrus bioflavonoid products that cater to diverse consumer preferences.
As consumer awareness of the health benefits associated with citrus bioflavonoids rises, the regional market is set to expand further. With a focus on sustainability and stringent quality control measures, North American companies are well-equipped to meet the growing demand for these natural supplements. With notable technological advancements, North America is poised to maintain its leadership in the citrus bioflavonoids industry in the foreseeable future.
Market Leaders Emphasize Collaborations and Acquisitions to Sustain Growth
The global citrus bioflavonoids market is fragmented with key players such as Nature LLC, Solgar Inc., Freeda Vitamins Inc., NOW® Foods, Nans Products, Natural Factors USA, BOC Sciences., Country Life, LLC., Merck KGaA, and Cayman Chemical, among others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.