Analysis of Cyanidin Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
As per the most recent research by Fact.MR, cyanidin market is set to witness fast-paced development during the forecast period 2021-2031 and is anticipated to grow with a CAGR of 5.6% during the same time frame. It has a wide range of applications in industries such as food & beverage and the medical industry among others. Since it is extracted from natural sources such as fruits and vegetables it is considered to be a healthy alternative for food coloring in the food & beverage industry.
Additionally, it provides various health benefits from combating cancer to reducing the risk of diabetes. This has made it a popular choice in the medical industry.
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The demand for cyanidin mainly arises from the food & beverage and pharmaceutical industries. It belongs to the anthocyanin’s glycoside class of water-soluble plant compounds that are responsible for the brilliant colour (red, orange, and blue) of fruits and flowers which is used as a healthy alternative in the food & beverage industry as a coloring agent.
The majority of demand arises from the pharmaceutical industry because of its ability to combat the proliferation of cancer due to its high content of anti-mutagenic and antioxidants present in it. Cyanidin inhibits cancer cell growth, induces cancer cell death, and prevents cellular damage. Additionally, it can fight lung cancer, colon cancer, leukaemia, skin cancer, and prostate cancer.
Owing to the aforementioned factors, the market is poised to grow at a healthy CAGR over the forecast period 2021-2031.
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The covid-19 effect was felt across different sectors, and cyanidin-based products also experienced this wrath of a demand slowdown. Governments ordered a lockdown at the beginning of 2020 which disrupted the supply chain for raw materials. Manufacturers had to shut down factories due to the unavailability of raw materials.
Demand from end-user industries such as food & beverage companies where the product was used as a food coloring agent slowed down in the initial two quarters of 2020.
However, the demand for cyanidin in the pharmaceutical industry was hardly affected owing to its higher number of health benefits. The demand saw a turn for the better as consumers increased their dietary supplements and immunity booster intake during the pandemic situation. This in turn aided the sales of cyaniding which found applications in supplements and medicines specifically targeted towards improving cardiovascular health.
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The Asia Pacific region is anticipated to witness significant growth, due to the increased rate of consumption of nutraceutical products. The increasing number of millennials, changing lifestyle, and rising health awareness towards avoiding diseases such as cases of type 2 diabetes, cardiovascular diseases, are anticipated to have led to rising demand for dietary supplements and products such as flavonoids that contain cyaniding. This has in turn anticipated the prime reason impacting the growth of sales during the forecast period.
Additionally, increased consumer disposable income in China and Japan is likely to boost the business. A growing elderly population and a rise in health consciousness among Japanese customers should help the industry flourish in the future. Dietary supplements and health foods that assist prevent or lessen the risk of lifestyle-related diseases are becoming increasingly popular among these countries' aged populations. Additionally, anti-aging and other cosmetic products which incorporate cyanidin also have a lot of growth potential, especially in the developing countries present in the region.
The rise in the ageing population in Europe is expected to ignite the requirement for the product in this region. Moreover, in Europe, the prevalence of obesity, diabetes, and chronic diseases among the population is likely to push the demand for nutritional functional food & beverages.
Besides, expanding health consciousness among the purchasers in this region is expected to hike the demand for this product over the forecast period. Furthermore, due to the ongoing pandemic scenario in Europe, demand for immunity-boosting medications or supplements containing cyanidin has increased in recent months.
Some of the key manufacturers in the market include
The market is fragmented with numerous small and medium-sized manufacturers spread across high potential regions. These manufacturers mainly collaborate with food & beverage companies for the coloring property of the product or the pharmaceutical industries due to the innumerable health benefits of the product.
To achieve a competitive advantage in the market, producers concentrate on research and development, product innovation, and novel application possibilities.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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