Global Acerola Extract Market Research Report: by Form (Powder, Liquid and others), by Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Food Supplements, Sweet & Savory Snacks and others) and Region - Forecast till 2023
— Market Overview:
Acerola Extract Market is projected to grow at a CAGR of 8.2% over the forecast period. Acerola extract is derived from tiny fruit named acerola which is grown on small shrub and evergreen acerola trees. It is native to South America, Central America, and Southern Mexico. It is a rich source of vitamin A, B, B1, B2 and B3 as well as carotenoids and bioflavonoids, which provide vital nutritive value and have antioxidant uses. The extract form of acerola mainly includes powder, liquid and others. These extracts are applicable in various industries including bakery and confectionery, dairy and frozen desserts, beverages, food supplements, sweet & savory snacks, and others
North America is dominating the market and is the fastest growing market in Acerola extract over the forecast period 2017-2023. The U.S. is the major contributor of acerola extract market in North America followed by Mexico. Southern Mexico, being the native of acerola is boosting the growth of acerola extract market in North America.
Almost 70% of U.S. adult population report to the consumption of food supplements which is a major driving factor in the growth of acerola extract market in this region. Increasing health awareness and growing health conscious population is a supportive factor for the growth of acerola extract market. Continuous R&D and innovations by the key players in this region is further boosting the growth of the acerola extract market.
However, side effects associated with the acerola extract may hamper the growth of the market. Nevertheless, all these factors is projected to grow North America market at a CAGR of 8.9% during the forecast period 2017-2023.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major Acerola extract players. It further includes product portfolios, developments of leading players, which includes
The Green Labs LLC (U.S.)
Amazonia Exportacao E Representacao (Brazil)
Nutrilite (Amway) (U.S.)
Nichirei Corporation, Inc. (Japan)
Vita Forte (U.S.) and
Martin Bauer Group (Germany)
Demand for organic sourced acerola extract is increasing among various industries
Cosmetic industry is witnessed to have high inclination towards acerola extract
On the basis of form, acerola extract is segmented into powder, liquid and others. It is witnessed that powder form of acerola market is dominating the market based on its high usage in food supplements and will continue its growth in the coming years. However, it is projected that the liquid form of acerola extract will gain a substantial growth during the forecast period based on its increasing demand in beverage industry.
Based on the application, acerola extract market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, food supplements, sweet & savory snacks, and others. Among all, food supplements is dominating the market owing to high nutritional value of the acerola extract. However, beverage segment is expected to grow substantially owing to high inclination of consumers towards functional beverages.
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The global acerola extract market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. The U.S. is the major contributor for acerola extract market followed by Mexico in North America owing to high innovation activities by the key players in this region. High inclination of consumers towards functional beverages in Europe is driving the market for acerola extract in this region.
Asia Pacific is projected to be the fastest growing region over the forecast period. India and China are the major contributors in this region owing to increasing health awareness and increase in consumption of healthy food and beverages. Latin America is also expected to witness moderate growth over the estimated period in which Brazil is the major contributor.
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Release ID: 331620