Market Overview:
Acerola Extract Industry is Expected to Grow at a CAGR of 8.2% from 2017 to 2023
Acerola is a bright red juicy berry consisting of various health beneficial attributes. The place of origin of acerola is Yucatan. It is distributed from there to Mexico, South Texas, Central America and Caribbean. It is cultivated in almost all the subtropical regions of the world recently. Acerola extract has gained popularity owing to its high vitamin C content. It also contains vitamin A, B, B1, B2 and B3 that are essential for maintaining the normal functionality of human body. It is used as an effective remedy for common cold, hay fever, depression, gum infection, tooth decay, and several other health issues globally. Acerola extract is mainly available in powder and liquid form which has high application in various industries.
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Market Forecast:
Acerola extract is a natural source of high nutritional products. Increasing application of acerola extract in various industries such as bakery and confectionery, dairy and frozen desserts, beverages, food supplements, sweet savory snacks, and others is driving the growth of the market. Increasing health issues among the population and their inclination towards functional foods is boosting the growth of the acerola extract industry.
Growing awareness among the population for the health benefits associated with acerola extract is further boosting the growth of the market. Growing application of acerola extract in cosmetic industry is bringing surge to the acerola extract industry growth. However, few side effects associated with the consumption of acerola extract may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 8.2% of acerola extract industry during the forecast period 2017-2023.
Competitive Analysis:
The major players in the Acerola Extract industry, The Green Labs LLC (U.S.), Amazonia Exportacao E, Representacao (Brazil), Nutrilite (Amway) (U.S.), Naturex (France), Nichirei Corporation, Inc. (Japan), Vita Forte (U.S.), Martin Bauer Group (Germany)
Downstream Analysis:
Based on the form, acerola extract industry is segmented into powder, liquid and others. It is witnessed that powder form of acerola market is dominating the market based on its high usage in food supplements and will continue its growth in the coming years. However, it is anticipated that the liquid form of acerola extract will gain a substantial growth during the forecast period.
Based on application, acerola extract industry is segmented into bakery and confectionery, dairy and frozen desserts, beverages, food supplements, sweet savory snacks, and others. Among all, food supplements is dominating the market. However, beverage segment is expected to grow substantially owing to increasing use of acerola extract in juices, smoothies, and other drinks.
Regional Analysis:
The global Acerola extract industry is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market followed by Europe. The U.S. followed by Mexico are the major contributors of acerola extract industry in North America. High inclination towards consumption of food supplements among the U.S. population is driving the acerola extract in North America. In Europe, U.K., Germany and France are the major contributors of acerola extract industry.
Asia Pacific is expected to be the fastest growing region over the forecast period. India and China are the major contributors in this region due to growing health awareness and increase in consumption of healthy foods. Latin America is also expected to witness moderate growth over the estimated period in which Brazil is the major contributor.
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