Rising number of individuals across the globe are getting concerned about their health, and getting curious about what they are consuming is healthy or not. The trend of consuming healthy food is expected to continue across the globe. Owing to busy schedules, individuals often sacrifice their diets. To balance their diets, people have started to include dietary supplements and functional foods in their diets. Blueberry is a fruit native to North America, having multiple health benefits. It is been used from ancient times as medicine for various diseases and disorders such as diarrhea, cataracts, urinary tract infections, etc. Blueberry is also known for its efficacy in improving vision. Blueberry is more often consumed as a fruit as well as in extract form. Blueberry extract has applications in different industries such as pharmaceuticals, food and beverage industries, dietary supplements, etc. Owing to these reasons and increasing health concern among consumers is expected to drive the growth of blueberry extract market. Blueberry possess different chemicals such as anthocyanins, polyphenols, etc. that are responsible for various health benefits. The high content of anti-oxidants in blueberry extract is expected to drive sales in cosmetics and skin care industry as well.
On the basis of region, Blueberry Extract market is holding the highest share of consumption in North America, followed by Europe. Europe seems to be the most lucrative market due to which blueberry extract market is expected to grow during the forecast period at a significant rate.
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Blueberry Extract Market: Segmentation
Blueberry Extract market can be segmented on the basis of form, end-use applications, distribution channel, and region.
On the basis of form, Blueberry Extract market can be segmented into liquid and powder. Powder segment is expected to expand at relatively high CAGR
Blueberry Extract market can be further segmented on the basis of end-use application into pharmaceuticals, food and beverages, nutraceuticals, cosmetics and skin care and others. Food and beverage is further sub-segmented into jams, pies, syrups, beverages, and cobblers. Nutraceuticals is further sub-segmented into functional foods and dietary supplements.
On the basis of distribution channel, Blueberry extract market can be segmented into direct and retail sales. Direct sales refer to direct selling of extract to other industries as an ingredient. Retail sales is further segmented into drug stores, specialty stores, online retail, and other retailing formats.
On the basis of region, Blueberry Extract market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Blueberry Extract market: Drivers, Restraints, and Trends
Due to change in the market trend, people are more interested in natural products which will play an important role in fueling the growth of present Blueberry Extract market. Increasing awareness of functional foods and dietary supplements is expected to drive the market over the forecast period. Awareness about associated health benefits of Blueberry extract as a dietary supplement, food ingredient etc. is also expected to drive the sales. Widely known benefits of Blueberry extract in improving eye vision is also expected to be a driving force over the forecast period.
Usage of Blueberry extract along with other medications could be harmful, which could be considered as a restraint. Consumption of healthy food products and dietary supplement is trending across the globe.
Blueberry Extract Market: Regional Outlook
Depending on the geographic regions, global Blueberry Extract market is segmented into five key regions: North America, Latin America, Europe, APAC, and MEA.
In terms of consumption, North America holds the largest share of Blueberry Extract market followed by Europe which also possess a large Blueberry Extract market. Asia and Latin America comes after North America in terms of consumption.
Asia Pacific Blueberry Extract market is expected to grow at significant rate in terms of consumption during the forecast period because people have started to opt for healthy products and dietary supplements. The species of blueberry is now cultivated in African countries also, which will help in increasing the sales of blueberry and associated products.
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Blueberry Extract Market: Key Players
Some of the prominent manufacturers of Blueberry Extract are Nutragreen Biotechnology Co. Ltd., Carruba, Inc., Futureceuticals, Bio Botanica, Inc., Life Extension, Mazza Innovation Ltd., Swanson and other regional players.