New York, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The global lemon bioflavonoids market stands at US$ 258.9 Mn in 2022 and is set to grow at a high CAGR of 8.1% through 2032, as per this new market analysis by Persistence Market Research.
Bioflavonoids have recently stimulated considerable interest among consumers because of their several pharmacological properties. Bioflavonoids have antiallergenic, antiviral, antiplatelet, antitumor, antioxidant, and anti-inflammatory properties, which make them the perfect choice as an active pharmaceutical ingredient (API) in various medicines.
“Lemon bioflavonoids find use in various industries ranging from cosmetics to pharmaceuticals and dietary supplements. Manufacturers can increase their profits by targeting the cosmetics and personal care sector over the coming years,” says a Persistence Market Research Analyst.
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Key Takeaways from Market Study
- Demand for lemon bioflavonoids in North America is expected to reach a volume of 3,784 tons by 2032.
- Europe and East Asia hold a collective market value share of 45% in 2022.
- Hesperidin is the most consumed bioflavonoid at 3,196 tons in 2022.
- Based on end use, the food and beverage sector accounts for a market volume share of 34.7% in 2022.
- The Oceania regional market is expected to expand the fastest at a volumetric CAGR of 9.3% through 2032.
Moreover, a large number of phenolic compounds present in citrus fruits are utilized in the pharmaceutical industry for the treatment of dyslipidemia, insulin resistance, hepatic steatosis, atherosclerosis, and other health-related problems. The therapeutic effects of various traditional medicines are also related to the presence of bioflavonoids, which help in lowering the risk of cancer and other cardiovascular diseases.
As a result, pharmaceutical manufacturers are leveraging the benefits of lemon bioflavonoids by holistically harnessing them in the development of effective medicinal products. All in all, the numerous pharmaceutical properties associated with bioflavonoids are expected to drive their consumption over the coming years.
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Competitive Landscape
Capital investments in R&D to streamline the production process is a key strategy being adopted by industries across the world. The cut-throat competition and the breakneck speed at which new research comes up make it important for companies to be aware of advancements in the industry so as to stand apart from their counterparts.
- Boc Sciences is focusing on research and development activities to identify new chemicals and develop innovative processes through modern analytical techniques. Through holistic research, it aims to maximize its yield, strengthen its production capacity, and develop new products as per the needs in the market.
- Botanic Healthcare’s aim is to participate in various exhibitions conducted at the domestic and international levels, which will help the company be at the forefront of competition.
- For instance, in October 2022, Botanic Healthcare exhibited its products at CPHI South East Asia, wherein, various nutraceutical and pharmaceutical companies participated. The company showcased clinically proven products to enhance its brand awareness among visitors from various countries.
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About Food & Beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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