Global
Anthocyanins Market: Snapshot
The
global market for anthocyanins has witnessed significant rise in the
past few years owing to the rising awareness regarding the health
benefits of anthocyanins and their rising set of applications across
a number of industries. The strengthening economic conditions of
developing countries such as India, China, Brazil, and Argentina in
the past years and the resultant rise in purchasing power of
consumers have helped increase the consumption of anthocyanin-rich
foods across these countries. The consumption of anthocyanin rich
products is also attributed to the changing lifestyle of the
consumers, which, in turn, is fuelled by the rising awareness about
health and wellness among consumers.
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Market Research states that the global anthocyanins market was valued
at US$300 mn in 2015 and will reach US$387.4 mn by 2021, expanding at
a CAGR of 4.4% from 2015 to 2021.
Applications
across Food and Beverages Industry Continue to Accelerate Market
Growth
In
terms of applications, the global anthocyanins market has been
segmented into food and beverages, pharmaceuticals, and personal
care. Of these, applications across the food and beverages industry
contributed the maximum chunk of revenues to the global market in
2015, worth US$143.5 mn in 2015. The food and beverages industry is
expected to retain market dominance throughout the forecast period,
although a minor decline is anticipated by the end. The set of
applications of anthocyanins in a variety of food and beverage
products is enormous as compared to applications in other key end-use
industries.
However,
therapeutic effects of anthocyanins, owing to their anti-oxidative,
neuroprotective, and anti-cancer nature, have made them suitable for
application in pharmaceutical products as well. Thus, the demand for
anthocyanins in the healthcare sector has witnessed a huge rise in
the past few years, making the pharmaceutical industry one of the key
contributors to the global anthocyanin market’s growth. Therefore,
the pharmaceutical segment is the considered to be the most
attractive application segment of the global anthocyanins market over
the next few years, expected to register the most promising 4.9% CAGR
from 2015 through 2021.
Strict
Regulations Related to Synthetic Food Colors to Hamper Anthocyanins
Consumption in Europe
Europe
is presently the market leader for anthocyanins in terms of
contribution of revenue to the global market, valued at nearly US$106
mn in 2015 and is expected to retain market dominance throughout the
forecast period. U.K. is the frontrunner for the regional market.
However, the consumption of anthocyanins in the region has suffered a
decline post the enforcement of stringent rules and regulations
regarding the usage of synthetic food colors in various products.
In
Europe, every natural food color that has been approved for use is
evaluated by the Scientific Committee on Food (SCF), which consists
of a group of scientific experts from every member state appointed by
the European Commission. This is expected to result in a slight
decline in the region’s share in the global
anthocyanins market by 2021, with Asia Pacific emerging as
the next high-potential consumer over the period between 2015 and
2021. The Asia Pacific anthocyanins market is expected to exhibit a
highly promising and the most significant 8.73% CAGR over the said
period.
North
America is also one of the key regional markets for anthocyanins,
with U.S. and Canada being the major contributors to the vast demand
for the same. Furthermore, several companies operating in the field
of anthocyanins have strong presence in the region as well.
Additionally, owing the heavy presence of the food and beverage,
personal care, and pharmaceutical industries in the U.S., consumers
have a wide access to a variety anthocyanin infused products. The
demand for anthocyanins in North America is expected to witness a
significant surge during the forecast period.
Some
of the key companies operating in the global anthocyanins market are
Archer Daniels Midlands Co, Symrise A.G., Naturex S.A., CHR Hansen
A/S, Sensient Technologies Corp, D.D. Williamson and Co. Inc., Kalsec
Inc., FMC Corporation, Synthite Industries, and GNT Group.
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