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.
Transparency 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.
Global Anthocyanins Market: Overview
Consumption of anthocyanin rich foods is directly proportional to the reduced incidences of cardiovascular diseases. According to Iowa Women’s Health Study, and approximate of 34,000 post menopausal women without cardiovascular diseases had their diets assessed and followed for a period of 16 years and it was found that consuming strawberries and blueberries that are rich in anthocyanin once in a week showed significant reduction in deaths caused due to cardiovascular diseases and coronary artery diseases. Further, it has been found that there is a positive relationship between the consumption of red wine and reduced chances of deaths caused due to cardiovascular diseases. Further, a broader group of approximately 93,000 women were tracked for a period of 18 years and it was found that a high intake of anthocyanins resulted in significant reduction in the risk of myocardial infarction, especially those who consumed more than three servings of blueberries and strawberries in one week, showed a 34% lower risk of suffering from cardiovascular diseases compared to those who consumed lesser blueberries and strawberries.
Additionally, anthocyanins found in fruits have the ability to improve the memory and slow down age-related loss of cognitive function. Anthocyanin rich blueberries have shown to reverse age related deficits in certain cases of working memory. Anthocyanins are shown to restrain neuroinflammation, improving blood flow and activate synaptic signaling. Further, certain dietary anthocyanins have shown to cross the blood-brain barrier, thereby allowing the compounds to possess a direct beneficial effect. Therefore the impact of this driver is medium at present and is expected to be high by the end of the forecast period.
Global Anthocyanins Market: Growth Dynamics
Anthocyanins find major application in the food and beverage industry as it accounted for more than 45% of the total market in 2014. The intensity of the colour is the consumers’ initial choice before purchase. Acceptance of the overall product is majorly based on consumers’ perception about colour influence. Additionally, colour gives the cue of the flavour of the food. Additionally, colours also help to identify the difference between actual colour of the food and the changes that occur post processing and storage. It also makes the food visually more attractive. He
Further, perception about the food is highly influenced by the colour and it can have a reverse effect on the consumers if the foods are not coloured accordingly, which would in turn refrain the consumers from buying that particular product. Therefore, colours affect the judgement of the food, perception of its freshness and the intensity of its flavour among others.
Global Anthocyanins Market: Geographical and Competitive Dynamics
Although the market for anthocyanins is witnessing steady growth in the developed and developing regions, the underdeveloped nations are on the back foot. This is primarily due to the low awareness about the benefits offered by the consumption of anthocyanins among the consumers. Consumers residing in the underdeveloped countries are less exposed to the benefits that are offered from consuming anthocyanin rich food and beverages. However, these countries have a significant potential for the growth of the anthocyanin market. Increasing market penetration by the major companies operating in the field of food and beverage, pharmaceuticals and personal care industries among others would ensure the steady growth of the anthocyanins industry.
In order to get a better understanding of the anthocyanins market, a key trends analysis has been included for all the segments. In addition, the key players in the market have also been profiled in terms of their financial overview, product segments, recent developments and business strategies adopted by them. The leading players in the market include Archer Daniels Midlands Co (Illinois, Chicago), Naturex S.A. (Avignon, France), Symrise A.G. (Holzminden, Germany), CHR Hansen A/S (Denmark, Europe), Sensient Technologies Corp (Wisconsin, U.S.), D.D. Williamson and Co. Inc.(Kentucky, U.S.), Kalsec Inc.(Michigan, U.S.), FMC Corporation (Pennsylvania, U.S), Synthite Industries (Kerala, India) and GNT Group (Aschen, Germany) among others.
Global anthocyanins market can be segmented as follows;-
- Global Anthocyanins Market, by Product Type
- Global Anthocyanins Market, by Application Type
- Food Beverage
- Pharmaceutical Products
- Personal Care
- Global Anthocyanins Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East
- Latin America
- North America