Industry Outlook
Global Acerola Extract Market was valued at US$ 11,174.4 Mn in 2021, and, expanding at a CAGR of 7.2% from 2023 to 2030.
Acerola extract is derived from acerola fruit, produced in Central America, South America, California, Florida, and Texas. It is rich in vitamin C and is widely used as health supplement in variety of applications such as food supplements, beverages, confectionary products, snacks, bakery preservation, and meat preservation.
Besides food application, acerola is also used in preparation of skin care products to fight cellular aging. Acerola extract is rich in vitamin C, an antioxidant, which helps in strengthening the immune system and build collagen cells. It is a powerful antioxidant, which is used for curing coronary artery disease and other respiratory diseases. Further, growing concerns among consumers regarding the side effects of synthetic vitamin supplements is influencing consumers to use natural products such as acerola extract products, which in turn expected to fuel the demand for acerola extract over the forecast period. However, Excessive consumption of acerola extract can lead to Gastro Intestinal (GI) distress. Usage of acerola extract for prolonged time and massive dosages may predispose to formation of renal calculi. Thus, the use of acerola extract is regulated by various stringent regulations which restrains the use of acerola extract in various food and pharmaceutical applications. This as a result expected to hamper the demand for the acerola extract during the forecast period.
China and India are the most attractive markets for acerola extract products, with high growth potential. India and China have not only become prominent acerola extract products consumer, but also producers due to domestic ability to supply acerola extract with international quality at affordable prices to the growing acerola extract industry.
Powder Form Captured Major Chunk of the Market in 2021, and Expected to Display Similar Trend in Coming Years
Based on different form, the market segmented in to liquid and powdered form. In terms of market value, powder form accounted for the major share in 2021. Growing demand for health and vitamin supplements, especially in functional foods is driving the demand for acerola extract. However, liquid form segment is expected to register high growth in the near future. Owing to advantages such as natural color, rich in vitamin C content, flavor, antioxidant property, and dough improvement, liquid formulations of acerola extract anticipated to witness significant adoption among food and beverage manufacturers. Owing to growing consumption and rising demand for natural ingredients for preservation of meat products, the demand for acerola extract in meat products expected to gain adoption among manufacturers over the coming years.
Beverages Segment Expected to Witness the Fastest Growth During the Forecast Period
Beverages segment anticipated to record the highest CAGR of 8.9% during the forecast period. Growing demand for ingredients with high ascorbic content, resulting in better fortification is increasing the adoption of acerola extract in beverages. Furthermore, meat and bakery segment expected to witness significant growth during the forecast period. Factors such as high consumption of meat and bakery products along with demand for longer shelf-life of the products among food and beverage manufacturers especially in Asia Pacific, where food and beverages industry is a major contributor to overall economy are fuelling the overall acerola extracts market growth during the forecast period.
The major trends governing the global acerola extract market includes an increasing use of acerola in several kinds of sports nutrition products, beverage blends, and antioxidant-rich superfruit and confectionery mixes. Bakery application is another highly attractive application that has been benefiting from the high demand for multiple functionality products and growing inclination of consumers towards convenience food products. Meat and confectionery applications falls in the medium attractive category due to a less range of new and innovative product offerings. This segment will witness growth owing to increased consumption of meat along with high demand for longer shelf life of the products.
North America Dominated the Global Acerola Extract Market in 2021 and Expected to Display Similar Trend Over the years
Acerola is native cherry-like fruit of Mexico and thus, largely found in parts of Central and South America. Acerola extract has been used by food and beverage manufacturers, largely as an antioxidant since long, resulting in acceleration to other parts of the world with key focus on Indian subcontinent. In 2021, North America and Europe were the largest regional markets for acerola extract. The companies present in these regions are focusing extensively on research and development for developing blend formulations comprising acerola extract in various food & beverages products. Asia Pacific, China and India serve potential markets for acerola extract in the next five to six years. Growing consumption of beverages and meat products especially in China and India, along with commercialization measures for acerola extract as an ingredient in various food and beverage products fuel the acerola extract market growth. Also rising demand for products with anti-aging properties, better metabolism and immune system, cancer prevention and diabetes management among consumers in Asia Pacific coupled with support to agricultural business with cultivation of acerola crops is fuelling the acerola extract market growth in the region.
In Asia Pacific, China and India serve potential markets for acerola extract in the next five to six years. Growing consumption of beverages and meat products especially in China and India along with commercialization measures for acerola extract as an ingredients in various food and beverage products fuel the acerola extract market growth. Also rising demand for products with anti-aging properties, better metabolism and immune system, cancer prevention and diabetes management among consumers in Asia Pacific along with support to agricultural business with cultivation of acerola crops is fuelling the acerola extract market growth in the region.
Product Development is one of the Key Strategies of the Companies Operating in the Acerola Extract Market
The global acerola extract market faces intense competition among the major players operating in this market. Market growth is attributed to frequent product development and innovation, partnerships and joint ventures geographic expansion are some of the key strategies adopted by the players in order remain prominent and ensure long-term sustenance. Some of the major players who are operating in the global acerola extract market are Amway, Blue Macaw Flora, Diana Naturals, Duas Rodas Industrial, Herbal Bio Solutions, Nature’s Power Nutraceuticals Corp. Naturex, Nichirei Corporation, NutriBotanica, Optimally Organic Inc., The Green Labs LLC among others.
In 2017, Amway has launched its Nutrilite Drink Mix products in India and China. The drink. The drink ha five different fruit concentrates including acerola, guava, pineapple, cashew, passion and fruit. The drink has nor preservatives, artificial flavors and colors and are widely preferred among the consumers.
Companies such as Herbal Bio Solutions is focusing on broadening product portfolio of Herbal Extracts, Essential Oils and Brazilian Natural Extracts
Herbal Bio Solutions is holding its strong client base from medical and cosmetic manufacturer. Apart from Asian countries, company is increasing its penetration in Mexico, African Countries and Gulf Countries.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Acerola Extract market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
