Growing awareness about the health benefits due to the consumption of grape seed extracts driving the growth of the market
As per a study by FMI, the global grape seed extract market is projected to grow at an annual growth rate of more than 7.6% CAGR during the forecast period 2021 to 2031 in comparison with a CAGR of 4.4% between 2016 and 2020. The grape seed extract market is estimated to surpass a valuation of US$ 120.6 Mn by 2021.
According to the Centers for Disease Control and Prevention, around 655,000 people die every year from heart disease, which is 1 out of every 4 deaths in the U.S. In 2017, coronary heart disease was among the most common heart disease, responsible for the deaths of 365,914 people in the country.
With rising cases of chronic ailments, focus on effective treatment and healthy eating is rising. This trend will continue, creative attractive opportunities for the growth of the grape seed extract market.
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Grape seed extract have high oligomeric procyanidins (OPC) properties, which are beneficial for the treatment of heart conditions such as atherosclerosis, high cholesterol, macular degeneration, and poor blood circulation.
Thus, grape seed extract is often used in the manufacturing of medicines and dietary supplements, which is in turn, fueling the demand for grape seed extract across the globe.
North America is dominating the global grape seed extract market and is expected to surpass a market share of 40.0% of the total revenue. The U.S., being the largest producer of grapes in the region, it is contributing to the overall market growth of the region.
“Companies operating in the grape seed market are investing in research and development (R&D) for conducting various studies to explore benefits of grape seed extract. Besides this, some of the players are forming strategic partnerships with other competitors to strengthen their global footprint,” says the FMI analyst.
In North America, the U.S. is leading the grape seed extract market with an estimate of over 53% of the sales in the region. The country expected to account for over US$ 16.6 million in 2021.
Brazil is projected to account for a market share of more than 45% in the Latin America region.
Owing to the increasing prevalence of heart disease, Japan market is estimated to grow at a CAGR of 6.8% over the forecast period.
Asia Pacific is witnessing the fastest growth and market in the region is likely to grow at a CAGR of 9.4% through 2031.
Conventional grape seed extract has emerged as the dominant segment and is expected to account for more than three-quarters of the market, globally.
Rising prevalence of heart diseases will fuel the demand for grape seed extract.
Growing awareness about healthy living in the developing economies is boosting the sales of grape seed extract.
Increasing the use of grape seed extract in dietary supplements will create growth opportunities for the market.
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Side effects and allergies caused by the grape seed extract are hampering market demand.
Availability of substitutes is a factor hindering market growth.
High grape seed extract products compared to other products poses a challenge to the market growth.
According to FMI, grape seed extract market is highly competitive owing to presence of large number of regional and global players.
Key players in the grape seed market are focusing on R&D for conducting various studies to finding benefits of grape seed extract and are engaging into strategic collaboration with other competitors. For instance,
Indena, the U.S. based company, conducted a study on Enovita standardized grape seed extract from Vitis vinifera seeds in 2021.
Nexira, a France based nutraceutical ingredient supplier collaborated with California Natural Color to clench the opportunities provided by the market.
Leading players profiled by FMI operating in grape seed extract market include
JM Smucker Co Louis Dreyfus Company B.V.
Betagro Public Company Limited
Affinity Petcare SA
Nutro Products Inc
Fromm Family Foods LLC.
Dave's Pet Food
Burgess Group PLC
Hill's Pet Nutrition
Evanger’s Dog & Cat Food Company, Inc
4Legs Pet Food Company
Boulder Dog Food Company, L.L.C.
Real Pet Food Company.
Diamond Pet Foods.
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More Insights on FMI’s Grape Seed Extract Market
The latest market study on global grape seed extract market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
By Animal Type
By Product Type
Treats and Chews
Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89029395