Global Proanthocyanidins market accounted for USD 1.64 billion in 2015 and is expected to reach USD 3.05 million by 2024, growing at a CAGR of around 7.74% between 2017 and 2024. Personal care & cosmetic segment dominated the proanthocyanidins market in 2017 and is also expected to maintain its dominance over the forecast period.

Sarasota, FL -- (SBWire) -- 07/31/2018 --Zion Market Research has published a new report titled "Proanthocyanidins Market by end user Distribution Channel (dietary supplement, food and beverage, personal care & cosmetics, and others) Market by distribution channel (direct and indirect), market by source (grape seed, pine bark, berries and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2024". According to the report, the global proanthocyanidins market accounted for USD 1.64 billion in 2015 and is expected to reach USD 3.05 million by 2024, growing at a CAGR of around 7.74% between 2017 and 2024.

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The global Proanthocyanidins Market is expected to witness significant growth over the forecast period on account of the growing dietary supplement, food, and beverage, personal care & cosmetics industry across the globe.

Proanthocyanidins are utilized in a wide range of applications to provide a health benefit. When incorporated in a dietary food, the proanthocyanidins helps to strengthen capillaries, lower down blood pressure, slow down the progression of diabetic retinopathy. Proanthocyanidins also known as condensed tannins, are oligomeric flavonoid which has powerful antioxidants properties and found in food sources which are rich in proanthocyanidins are grapes (seeds and skins), apples, pine bark, red wines, cranberries, blueberries, unsweetened baking chocolate, bilberries, and hazelnuts. Its antioxidant and other therapeutic properties have made proanthocyanidin supplements gain traction in the global market. Technological advancements in order to improve efficiency and quality are also expected to open new avenues of opportunities in the coming years.

Among the end user, dairy supplements segment accounted for the largest market share in 2017 and is expected to register significant growth rate. Proanthocyanidins protect and reduce the oxidative damage caused by free radicals in the body; it also helps in preventing heart-related diseases as many studies have shown that proanthocyanidins reduce blood pressure and improve fat metabolism.

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Personal care & cosmetic segment dominated the proanthocyanidins market in 2017 and is also expected to maintain its dominance over the forecast period. Proanthocyanidins are extensively used in the personal care & cosmetic industry for various applications.

On the basis of the distribution channel, the market is bifurcated into direct and indirect sales. Indirect sales can be further bifurcated into modern trade, drug and pharmacy stores, online retail, and convenience stores. The online store and drug and pharmacy store account for the largest market share in 2016 and is expected to register significant growth rate.

In terms of geography, Asia Pacific was the largest market for proanthocyanidins in the world owing to the increasing demand for food, cosmetic products from the industrial sector. Asia Pacific is also expected to be the fastest growing market for proanthocyanidins within the forecast period owing to the rising consumption levels and spending power of the population.

The key players operating in the proanthocyanidins market are NOW Health Group, Inc., Bio Botanica, Inc., Ocean Spray Cranberries, Inc., IL Health & Beauty Natural Oils Co., Inc., Swanson Health Products, Inc., Atrium Innovations Inc., Skin Actives Scientific and among others

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This report segments the global Proanthocyanidins market as follows:

Global Proanthocyanidins Market: End-User Segment Analysis

Food and beverage
Dietary supplement
Personal care & cosmetics
Others

Global Proanthocyanidins Market: Source Segment Analysis

Pine Bark
Grape Seed
Berries
Others