Grapeseed Extract Market - Growth, Trends and Forecasts (2021 - 2026)
Posted by Statzy Market Research on April 17th, 2021
- The rising awareness regarding the grape seed extract as a functional ingredient that aids in weight loss, cellulite reduction, and improvement of the immune system is expected to have a strong impact on market growth. Furthermore, these extracts are recommended for the treatment of diseases like candidiasis, throat infections, earaches, and diarrhea, which, in turn boosting the market growth significantly.
- Further, in countries like the United States where heart disease is the leading cause of death, is encouraging dietary supplement manufacturers to increase the use of grape seed extracts in the formulation of health supplements to limit the occurrences of heart diseases over the next few years.
- The COVID-19 pandemic has immensely affected the food supply chains, with bottlenecks in farm labor, processing, transport, and logistics, as well as momentous shifts in demand. Food supply chains demonstrated a remarkable resilience in the face of these stresses , which in turn has also impacted the grapeseed extract market growth.
Key Market Trends
Increasing Demand for Grapeseed Extract in Pharmaceutical Industry
The grape seed extract is usually included in nutritional supplements as it is a more economical way of gaining plant-based antioxidants. Such supplements are available for different purposes, such as beauty, cardiovascular support, and improving vision. Companies are investing in product innovation to compete in this product segment.
For instance, Bluebonnet Nutrition Corporation launched a super fruit grape seed extract derived from Champagne grape seeds in France. Moreover, most of the dietary and nutraceutical supplements contain the powdered form of grape seed extracts as consumers prefer this form as it is affordable and very convenient to use. U.K.-based company Bulk Powder launched seed extract powder made from red grapes, which can be consumed by gluten- and lactose-intolerant consumers.
North America Holds the Largest Market Share
Growing consumer awareness regarding following a medicine-free lifestyle is a key factor driving the market. Consumer spending on health, fitness, and wellness has increased tremendously in recent years. The increasing usage of natural/organic personal care products and dietary food supplements has created a significant demand for grape seed extracts in North America. The strong foothold of processing firms in the U.S. is also anticipated to propel the market growth. Furthermore, in countries like Canada, improvement in the economy and favorable shifts in consumer preferences have helped boost the demand for natural food antioxidants in the country. Also, due to unfavorable climatic conditions in the country, the food is preserved for a longer period, with a higher shelf-life, which in turn, propelling the grapeseed extract market growth.
Competitive Landscape
The global grapeseed extract market is highly fragmented, with the prevalence of a largely unorganized sector involved in the manufacturing and distribution of grapeseed extract. Some of the major players in the market studied are Hebei Xinqidian Biotechnology Co., Ltd., Botanic Innovations LLC., Polyphenolics, Ambe NS Agro Products Pvt. Ltd., and Phyto Life Sciences Ltd among others. The prominent players of the market have been focusing on developing new and innovative products by targeting the new formulation for grapeseed extract. Additionally, these companies are focusing on increasing the production capacities of their existing plants, while investing in R&D activities. Thus, the market studied is expected to witness numerous product launches during the forecast period.
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