Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Definition of Market/Industry:
Acerola is a fruit that is a rich source of Vitamin C and contains Vitamin A and is widely used as a medicinal purpose. Acerola extract is used in the treatment of disease associated with the lack of Vitamin C such as scurvy. Moreover, it is also beneficial for in the condition like heart disease, blockage of arteries, blood clots, and cancer. Sometimes, it is used to treat cold, tooth decay, gum infections, depression, and collagen disorders. Acerola extract is available in the form of acerola extract powder and acerola extract liquid.
The global Acerola Extract market is estimated to account for US$ 9,069.2 Mn in terms of value and 79.5 Thousand Tons in terms of volume by the end of 2018.
Increasing demand for acerola extract as a medicinal purpose in the treatment of diabetes, obesity and cardiac issues is a prime factor fueling the market growth of acerola extract. Moreover, high demand for Vitamin C due to its wide application in the manufacturing of drugs for skin-related disorders. According to the World Health Organization (WHO), Skin diseases are among the most common of all human health afflictions and affect almost 900 million people in the world at any time. Hence, this is expected to boost the market growth of acerola extract over the forecast period.
Growing application of acerola extract from the food and beverage industry in order to enhance the nutritional value of the food supplements, beverages, confectionery products, and snacks is another major factor fueling the market growth. Moreover, it is also used for bakery and meat preservation, which is also expected to propel the market growth of acerola extract.
Europe region dominated the global Acerola Extract market in 2018, accounting for nearly 30% share in terms of volume, followed by North America and APAC, respectively.
Figure 1: Global Acerola Extract Market Share, By Region, 2018
Lack of awareness regarding the health benefit of acerola extract among consumers of developing and under-developed region is projected to hamper the market growth of acerola extract.
The high cost of acerola based products compared to synthetic Vitamin C is another major factor expected to hinder the market growth of acerola extract.
Expanding food and beverage industry as acerola extract has wide applications in food and beverages is expected to offer immense growth opportunities over the forecast period. Moreover, growing usage of vitamin C in the preservation of frozen foods as Vitamin C has an excellent antioxidant property is further expected to boost the market growth over the forecast timeframe.
Rising application of acerola extracts from the cosmetic industry as it has a strong anti-oxidant property which claims to improve the texture of the skin, enhance the ability of the skin to retain the moisture, this is expected to offer immense growth opportunity to the market of Acerola extract.
Figure 2. Global Acerola Extract Market - Opportunity Analysis
By Product Form, powder segment in the global acerola extract market was valued at 5,923.4 Mn market in 2018 and is forecast to reach a value of US$ 12,543.6 by 2027.
Market Trends/Key Takeaways
The rising trend of using acerola extract in beverages to provide Vitamin C content and nutrients is a major factor propelling market growth of acerola extract. For instance, the use of acerola can increase the vitamin C content of apple juice. Its tartness also makes it blend well with other juices.
Another major trend that has been observed in the market is increasing demand for sports nutritional drink where it is used to enhance the Vitamin C content and immunity level. This is also expected to fuel the market growth of acerola extract.
Figure 3. Global Acerola Extract Market Share, By Application, 2018
Key players active in the market are Naturex, Nutrilite, Duas Rodas, Niagro, Diana Naturals, Florida Food Product, iTi Tropicals, Nature's Power Nutraceuticals Corp., The Green Labs LLC, and NutriBotanica.
On 16 June 2016, Naturex, and EPC Natural Products Co., Ltd. jointly signed a patent license related to stabilizing anthocyanin compositions, extracted from berries such as blueberries, black current, etc.
- Nutrilite (Amway)
In October 2016, the company launched a collection of new Artistry Supreme LX under its luxury skincare brand Artistry in October 2016. Artistry Supreme LX contains organic extracts along with green acerola cherry extract.