Cranberry extract improves the immunity, flow of the blood in the arteries and protects from cardiovascular diseases, these advantages are attracting the consumers and increasing the cranberry extract market.
According to the current analysis of Introspective Market Research, the global Cranberry Extract Market was valued at USD 97.98 Million in 2019 and is expected to reach USD 121.59 Million by the year 2026, at a CAGR of 3.16%.
Major driving factors for the Cranberry Extract are the increasing awareness of health and major demand from the online and wholesale distribution channel. Cranberry extract includes powder, liquid and dried form of it. Proanthocyanidins is used in dietary supplement products and used as natural food colors in food and beverages industry along with that it can be used in seafood and other culinary products. In personal care and cosmetic industry, it is used as an antioxidant for skin. It is a rich source of anti-oxidants and an effective cure for bladder infections. Increasing demand for organic and natural products and more utilization of cranberry extract as natural food colors is driving an increase in demand in the global market.
According to the analyst, on the basis of application, cranberry extract market is segmented into food & beverages, pharmaceuticals, nutraceuticals, confectionary, bakery, personal care and beauty products. Among which, food and beverages segment holds the major share and is expected to register an increased growth during the forecast period. Followed by pharmaceutical segment, being the second largest segment, it is expected to escalate the market over the forecasted period. The market has also been closely associated with dietary supplements and syrup market. Cranberry extract powder is also used in cosmetic and skin care products are expected to register relatively medium growth over the forecast period.
The Global Cranberry Extract market is segmented by Type (Complete Cranberry Extract and Portable Cranberry Extract), by Test Type (Spirometry, Lung Volume, Gas Exchange Testing, Maximal Voluntary Ventilation, Oxygen Titration Test and High Altitude Simulation Testing), by Component (Software, Hardware and Services), by Application (Chronic Obstructive Pulmonary Disease, Asthma, Chronic Shortness of Breath and Restrictive Lung Disease), by End-User (Hospital/Clinical Laboratories and Diagnostics Laboratories). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- Among the product form segments, the powder segment is expected to hold major share and projected to register significant growth during the forecast period.
- Increasing demand for natural flavors and pigmenting agent, the consumers are more attracted towards cranberry extract as compared to different agents.
- Rising application of cranberry extract and consumer preference for its strong red pigment is expected to account an increase in demand in the global cranberry extract market.
Key Participants include NOW foods Inc., Ocean Spray Cranberries Inc., Pharmavite LLC, Nature's Way Products LLC., SWISSE, WELLNESS PTY LTD, Gaia herbs Inc., Nature's Best Health Products Ltd, The Green Labs LLC, RB LLC., Amway Ltd and others.
For this report, Introspective Market Research have segmented the Global Cranberry Extract markets market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2026)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM