Visiongain Publishes Anthocyanin Market Report to 2031
02 March 2021
Visiongain has published a new report on Anthocyanin Market Report to 2031: Forecasts by By Source (Vegetables, Fruits, Cereal & Legumes, Flowers), By Form (Liquid, Powder), By Type (Cyanidin, Malvidin, Delphinidin, Peonidin, Pelargonidin, Petunidin), By Application (Viscosity Modifier, Coloring Agent, Anti-oxidants), By End-use Industry (Food & Beverage, Animal Feed, Personal Care, Pharmaceutical, Nutraceutical ), By Distribution Channel ((Online Channels, Offline Channels) PLUS Profiles of Leading Anthocyanin Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global Anthocyanin market was valued at US$ x million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Rising consumption of animal based-products and industrialization of these products is augmenting the market for Anthocyanin across the globe.
COVID-19 Impact on Anthocyanin Market
The COVID-19 pandemic has disrupted the entire value chain across various industrial sector. Manufacturing plants have been shut shop due to unavailability of raw materials, shortage of demand and labors among several other factors. As the end-users of anthocyanin also experienced changes in government regulations across most of the countries regarding the new working norms such as social distancing and manufacturing below the production capacity. This has led to decrease in demand for anthocyanin from the end-use industry. Additionally, manufacturers are focusing on innovative business strategies to recover from the lost revenue during the pandemic situation, which is expected to improve the overall market situation of the anthocyanin market.
Effectiveness of Anthocyanin in Treatment of Various Diseases
Anthocyanin has pharmacological properties such as immunomodulatory, anti-inflammatory, anti-diabetic, anti-obesity, anti-cancer, and neuroprotective among others. Anthocyanin has the properties to modulate the activity of multiple targets that are involved in carcinogenesis through modulation of gene expression or direct interaction and also inhibits the growth of cancer cells. Cancer is one of the major health problems globally and second leading cause of death in the United States. In 2018, cancer caused 9.6 million deaths globally and 5, 99,274 deaths in the United States. Additionally, human interventional studies also suggested that the high dosage of anthocyanin have the abilities to prevent and treat type 2 diabetes owing to its antioxidant properties. In 2019, 463 million adults aged 20-70 years of age were suffering from diabetes with type 2 diabetes accounting for major share and is increasing in most of the countries. The prevalence rate of diabetes is rapidly increasing in low-income and middle-income countries as a result of shift towards sedentary lifestyle and obesity. Rising cases of chronic diseases is leading to the increasing use of anthocyanin in treatment of the diseases thereby accelerating the overall demand.
Increasing demand for Natural Colors in Food and Beverage Industry
With the increasing awareness about health and safety consumers are focusing on consumption of natural food products, which is shoving the manufacturers in food and beverage industry to use naturally food colors in their products. For past couple of years food industry has experienced increasing trend of natural products and clean label solutions and approximately two third of the global population are selective about their purchase of groceries and they tend to purchase to ensure well-balanced diet. Approximately, 60% of the consumers globally look for the natural ingredients while buying processed and packaged food products indicating consumer awareness towards natural products. Additionally, manufacturers use coloring agents to increase the aesthetic appeal of their products, as consumer buying behaviour is highly influenced by the colors of the product. Approximately, 85% of the consumers tend to purchase a product based on the colors. Millennials are more concerned about the natural food coloring in their food with approximately 55% of millennials in U.S. making purchase based on the food colors that are sourced from plants, in 2017. In Q4 of the 2016, the new products launched using natural colors in U.S. hit an all-time high of 73%, which is further accentuating the demand for anthocyanin as coloring agent.
Increasing Focus of Anthocyanin Suppliers to Tap the Lucrative Opportunity from Health and Nutrition Segment of Food Industry
As anthocyanin has medicinal applications it is has opportunities in the health and nutrition food product segment. In 2018, the global wellness economy stood at US$ 4.5 trillion and the wellness expenditure were more than half of the total global health expenditure. The industry experienced the annual growth rate of 6.4% during 2015-2017 and the demand is further increasing with the rising consumer awareness regarding nutritional diet. The wellness industry comprises of various aspects, top five being healthy eating, nutrition and weight loss, fitness and mind-body, personal care, beauty and anti-aging, wellness tourism. Owing this rising trend the stakeholders across these segments are innovating and developing products that satisfy the increasing consumer demand for healthy and nutritional products. This is expected to actuate the demand for anthocyanin during the forecast period.
Increasing Market Demand for Bakery and Confectionery Items
The global bakery and confectionery market is increasing at a rapid pace with increasing disposable incomes and population across the world. The demand is primarily driven from the emerging economies as these economies have seen a major increase in the population and urbanization. Additionally, the bakery and confectionery industry is also witnessing the trend of natural and clean labelled products. To address the increasing consumer inclination towards clean labelled products, manufacturers are fuelling the research and development to create products that are natural and safe. In 2019, the sale of anthocyanin in bakery and confectionery segment was approximately 176 tons and is expected to further increase at a rapid pace owing to the rising inclination of bakery and confectionery enthusiasts towards enhanced aesthetics. These factors are further propelling the overall market growth in the anthocyanin market.
Some of the companies profiled in the report include Vinayak Ingredients India Pvt Ltd., Kalsec Inc. GNT Group B.V., Naturex, Archer Daniels Midland Company, Synthite Industries Ltd., DDW The Color House, Chr. Hansen Holding A/S, and Hangzhou Skyherb Technologies Co., Ltd. among others. Various starategic partnerships, new product development and joint ventures are being undertaken by the market players to strengthen their market position. For instance, in July 2020, Evonik, a Germany based company introduced anthocyanin food supplement for local markets to support the health of blood vessels in pharmacies.
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