What is Global Cranberry Extracts Market?
The Global Cranberry Extracts Market is a comprehensive study of the worldwide market for cranberry extracts. Cranberry extracts are derived from cranberries, a type of small, red fruit that grows in North America. These extracts are rich in antioxidants and other beneficial compounds, making them highly sought after in various industries. The market for these extracts is vast and diverse, encompassing a wide range of products and applications. The global market for cranberry extracts was valued at US$ 106.3 million in 2022. It is projected to reach a value of US$ 133.8 million by 2029, growing at a compound annual growth rate (CAGR) of 3.3% from 2023 to 2029. This growth is driven by increasing consumer awareness about the health benefits of cranberries, as well as the growing demand for natural and organic products in various industries.
Cranberry Liquid Extract, Cranberry Powder Extract in the Global Cranberry Extracts Market:
The Global Cranberry Extracts Market is segmented into two main product types: Cranberry Liquid Extract and Cranberry Powder Extract. Cranberry Liquid Extract is a concentrated form of cranberry juice that is often used in dietary supplements and health drinks. On the other hand, Cranberry Powder Extract is a dry, powdered form of cranberry that is often used in food products, cosmetics, and pharmaceuticals. Among these two product types, Cranberry Powder Extract is the largest segment, accounting for about 95% of the market. This dominance can be attributed to the versatility and convenience of Cranberry Powder Extract, which can be easily incorporated into a wide range of products.
Health Care Industry, Food & Cosmetics, Others in the Global Cranberry Extracts Market:
The Global Cranberry Extracts Market finds its applications in various areas such as the Health Care Industry, Food & Cosmetics, and Others. In the Health Care Industry, cranberry extracts are used in dietary supplements and medicines due to their high antioxidant content and potential health benefits. In the Food & Cosmetics industry, cranberry extracts are used as natural colorants, flavor enhancers, and active ingredients in a variety of products, from food and beverages to skincare and beauty products. In other industries, cranberry extracts are used in a variety of ways, depending on the specific needs and requirements of the industry.
Global Cranberry Extracts Market Outlook:
To recap the market outlook, the Global Cranberry Extracts Market was valued at US$ 106.3 million in 2022 and is expected to reach US$ 133.8 million by 2029. This represents a CAGR of 3.3% during the forecast period of 2023-2029. The market is dominated by the top five manufacturers, who collectively hold over 55% of the market share. In terms of product type, Cranberry Powder Extract is the largest segment, accounting for about 95% of the market. This is a testament to the popularity and versatility of Cranberry Powder Extract, which can be used in a wide range of products and applications.
| Report Metric | Details |
| Report Name | Cranberry Extracts Market |
| Accounted market size in 2022 | US$ 110.1 million |
| Forecasted market size in 2029 | US$ 171.1 million |
| CAGR | 5.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Indena, Nexira, Givaudan, Bio-Botanica, Fruit d’Or Nutraceuticals, Diana Food, Biosfered, Zhejiang Jianfeng Health, Hunan Huacheng, Jiaherb |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
