Cyanidin Market Forecast and CAGR
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.
What is Driving the Demand for Cyanidin?
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.
Covid-19 Impact on Global Cyanidin Market
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.
The Asia Pacific Cyanidin Market Geographical Outlook
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.
Europe Cyanidin Market Geographical Outlook
Who are the Key Manufacturers of Cyanidins?
Some of the key manufacturers in the market include
- BioCrick Co. LtdB
- Artemis International
- American Color Research Center Inc.
- Archer-Daniels-Midland Company.
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.
- Food Beverage
By Product Type
By End-use Industry
- Food & Beverage
- red cabbage
By Sales Channel
- Retailers & Wholesalers
- Other Distribution channels
- Direct Sales
- Third-Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
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