North America Dominated The Acerola Extract Market In 2017 And Expected To Display Similar Trend In The Coming Years

According to the latest report published by Credence Research, Inc. “Global Acerola Extract Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the market was valued at US$ 8,675.8 Mn in 2017, expected to grow at the CAGR of 8.2% from 2018 to 2026.

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Market Insights

Growing awareness among consumers towards the use of healthy and natural products is fueling the demand for products prepared from fruits and other natural sources. Acerola extract is prepared from the fruit acerola, which is rich in vitamin C and is used for the preparation of various food supplements. Further, acerola extract is also used as food preservative, which is used in packaged food, snacks, beverages, confectionary and meat preservation. Changing lifestyle, growth in working population across the globe, shift in consumer preferences from conventional foods to ready to eat or convenience food has resulted in increasing the use of preservatives. However, Acerola extract products are premium priced and their prices are relatively higher than that of synthetic personal care products. Acerola is found in West Indies, South America, Central America, Texas, and Florida only, which makes the availability of the acerola extract erratic in other parts of the world. Transportation of acerola from these regions to the other parts of the world add up to the production cost of acerola extract. Thus, acerola extract are priced higher as compared to their synthetic alternatives. Therefore, acerola extract products find it difficult to compete with synthetic products in terms of prices which in turn is projected to restrain the demand for the acerola extract over the forecast period.

By form, acerola extract market segmentation includes powder and liquid forms; of which, in 2017, powder form dominated the market in terms of revenue contribution and is further expected to remain dominant during the forecast period of 2018 to 2026. Currently, growing demand for vitamins and health supplements, particularly in functional foods is fueling the demand for powdered form of acerola extract. Furthermore, extensive research and development by companies to offer ingredients resulting in better and enhanced preservation, stability and shelf-life of the product is bolstering the acerola extract market growth across the globe. Among considered applications, food supplements segment holds the significant market share and expected to maintain its dominance throughout the forecast period. Rising demand for organic and stable ingredients in food and beverage products is a key factor driving growth of acerola extract market. Some of the other factors fuelling the acerola extract market growth primarily in varied food applications include demand for natural preservative solutions, ingredients with enhanced oxygen-scavenging properties in meat products, improved color and curing properties, maintenance of nutritional efficacy, particularly if used in cured and raw meat products.

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 2017, North America dominated the for acerola extract in 2017. 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 market growth.

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