Grape Seed Extract Market Competitive Landscape Report to 2025
The global grape seed extract market size is projected to reach USD 201.2 million by 2025, with a CAGR of 7.6% from 2019 to 2025. The key features for the growth of this market include rising awareness among consumers for a medicine-free lifestyle coupled with the consumption of healthy food and focusing on physical appearance. A majority of manufacturers of health supplements use these extracts as an important ingredient owing to the oligomeric procyanidins (OPC) properties. These features help in the ailment of health issues like poor blood circulation, high cholesterol, atherosclerosis, nerve damage, and macular degeneration.
By product, the powdered segment held the majority share of over 80% in 2018. The use of powder as an ingredient in the production of personal care products, nutritional supplements, and food and beverages is predicted to benefit the segment over the forecast period. Moreover, the growing demand for dietary supplement powders for evening meals and breakfast is predicted to propel nutraceutical producing companies to use grape seed extracts as an important ingredient for their products.
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The food and beverage segment is predicted to reach USD 25.0 million by 2025 the growth of this segment is due to the rising awareness relating to health among the consumers who prefer convenience foods with higher nutrition.
Asia Pacific is predicted to register the fastest CAGR of 9.4% from 2019 to 2025. The increase in the number of middle-income population in countries like Pakistan, Bangladesh, India, and China is predicted to have a favorable impact on the growth of grape seed extracts market, surging a boost in personal care and food and beverage sectors. Additionally, the favorable government policies focused on maximizing the output of food processing in India and China are predicted to open channels of growth for this market.
The market players are focusing on innovation and product development along with strategies like partnership with competitive companies to expand their business.
Further key findings from the report suggest:
- Based on product, the liquid division is expected to grow at a CAGR of 9.8% for the period of 2019 to 2025 due to its parasiticidal, antibacterial, antiviral, antifungal, mucosa repairing, and cytoprotective properties.
- By application, the personal care division valued at USD 32.1 million in 2018. The use of grape seed extracts in the products helps in minimizing inflammation, reducing wrinkles and fine lines, and moisturizing the skin.
- North America held the dominant position with a share of 43.3% in 2018. The rising awareness for a healthy lifestyle coupled with a higher disposable income has led to the growth of grape seed extract market in this region.
Impact of COVID-19
Grape seed extract market has been affected owing to the outbreak of COVID-19. Countries such as the United States, Italy and Spain are the major exporter of grape seeds oil. These countries are severely affected by corona virus, thereby, disrupting the supply chain of grape seeds extracts. Additionally, India’s district Nashik, which is a major supplier of grape to many European countries, has witnessed a fall of over 25% in export from December 2019 to April 2020.
However, with relaxing lockdown measures, the export is expected to surge and the market is anticipated to recover soon. Also, grape seeds extracts are a good source of immunity booster. With changing food consumption pattern and increasing focus on boosting immunity, the demand for grape seeds extracts are estimated to gain traction over the next few years.
Global Grape Seed Extract Market: Key Players
S.P.A.; Polyphenolics; Botanic Innovations LLC; Naturex; NetQem LLC; Nexira; Augusto Bellinvia srl; Hunan NutraMax Inc.; Piping Rock Health Products, LLC; and Jianhe Biotech Co., Ltd.
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