by The grape seed extract market is estimated to be valued at US$ 219.7 Mn or in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Grape seed extract is obtained from the seeds of grapes and possesses antioxidant and anti-inflammatory properties. It finds wide usage in food & beverages, cosmetics, personal care, and dietary supplements. In the food & beverage industry, grape seed extract is added to fruit juices, breakfast cereals, bars, energy drinks, confectionery, baked goods, and meat products to enhance their nutritional profile. In personal care and cosmetic products, it is used in anti-aging creams, lotions, hair care products, and sunscreens due to its antioxidant properties. Grape seed extract is also available in the form of dietary supplements to promote cardiovascular, eye, and joint health.
Market Dynamics:
The increasing consumer preference towards natural antioxidants over synthetic ones is expected to drive the growth of the grape seed extract market over the forecast period. Synthetic antioxidants have been linked to various health hazards, which has prompted consumers to shift towards natural alternatives. Grape seed extract contains a high concentration of antioxidants like proanthocyanidins that help combat oxidative stress and its damaging effect on cells. Furthermore, rising health consciousness among individuals and growing preventive healthcare adoption is fueling the demand for dietary supplements containing grape seed extract. However, price fluctuations in grape production might hinder the market growth. Additionally, the health benefits of grape seed extract such as improved cognitive function and skin hydration are also attracting more consumers.
Segment Analysis:
The global grape seed extract market is dominated by the cosmetic industry segment. Grape seed extract finds wide application in anti-aging creams, sunscreens and various other skin and hair care products due to its antioxidant properties. It helps fight free radicals, reduces signs of aging and prevents UV damage. Therefore, the increasing demand for natural and herbal ingredients in cosmetic and personal care products is fueling the growth of this segment.
PEST Analysis:
- Political: Various cosmetic regulations around the world are promoting the use of natural ingredients like grape seed extract. This is positively impacting the market growth.
- Economic: The rising per capita income is enabling consumers to spend more on premium cosmetic products containing grape seed extract. This factor is driving the demand.
- Social: Growing health and wellness trend has led to increasing demand for herbal ingredients with antioxidant benefits. The youth population is mainly contributing to this demand.
- Technological: New extraction technologies are helping market players improve the yield and concentration of active polyphenolic compounds from grape seed, thereby enhancing product quality and efficacy.
Key Takeaways:
The global grape seed extract market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing consumer awareness about its antioxidant benefits. The market size is projected to grow from US$ 219.7 Mn in 2023 to US$ 399.5 Mn by 2030.
The Asia Pacific region is expected to dominate the market during the forecast period. Factors such as rising living standards, growing working population and increasing expenditure on personal care are fueling the demand in countries like China and India.
Key players operating in the grape seed extract market are Botanic Innovations LLC, Polyphenolics, NATUREX, Nexira, Augusto Bellinvia srl, Hunan NutraMax Inc., Jianhe Biotech Co., Ltd., Ambe NS Agro Products Pvt. Ltd., Midas Pharma GmbH, and Bhooratna Agri Processors. Major players are focusing on introducing new product ranges, especially for cosmetic applications, to strengthen their market position.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
