Global Rosehip Extracts Market - 2022-2029

Global Rosehip Extracts Market - 2022-2029

Market Overview

Rosehip is an herbal medicine which belongs to Rosaceae family. It is also known as Rosa canina, type of wild rose which belongs to some regions in Europe, Africa, and Asia. Rosehips are basically the fruits of the rose plant which forms in late summer and autumn after the rose plant was fertilized. Rosehips contain the seeds of rose plant. These seeds of the rose and its dries hips are crushed and mixed together to make the rosehip extract. Fresh rose hips are rich in Vitamin C which helps in the treatment of flu, cold and vitamin C deficiencies.

Rosehip extract is also used in food and beverage industry, to prepare variety of products such as tea, jam, soup, pies, and bread, etc. In addition rosehip extracts are also used in herbal treatment which consists of antioxidant and anti-inflammatory properties. The medicines made from rosehip extracts are available over the counter for the treatment of diseases such as cancer, rheumatoid arthritis, and obesity as it consists of several health benefits which include treatment of skin ailments, bone health, lower cholesterol, skin care and improving the immune system, etc.

Thus, rosehip extracts preferred for stomach related disorders such as stomach acid deficiency, stomach spasms, preventing stomach irritation and ulcers, and as a stomach tonic for intestinal diseases.

The global rosehip extracts market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 8.97% during the forecast period (2022-2029).

Market Dynamics

Increasing implementation of botanical extracts in cosmetics and personal care industries

The consistent use of botanical extracts in cosmetics, cosmeceutical and personal care products is driving the growth of the market. There are various factors that is increasing demand of botanical extracts such as rosehip extract in cosmetic and personal care products owing to increased attention & attraction of consumers towards the use of natural, plant-based extracts in cosmetic formulations. In addition, the consumer demand and preferences, also, customers are beginning to care deeply about the ingredients behind the beauty products they are applying on their skin, and synthetic additives are perceived to be less safe and unappealing for long-term use.

Furthermore, botanical extracts offer naturally potent skin-enhancing and skin-protective properties such as flavonoids, polyphenols, polysaccharides, and vitamins. For instance, rosehip extract contains polyphenols and anthocyanins, which are believed to ease joint inflammation and prevent joint damage. It is also rich in vitamin C, which has antioxidant properties. Thus, the multiple benefits often occur simultaneously within a single extract, which provides an immense added value over synthetic ingredients which adds to the growth of the rosehip extract market. Thus, manufacturers are also launching new products in the market to fulfill the consumer demands. For instance, in 2020, Launchora launched organic rosehip oil for cosmetic and personal care industry.

Market Segmentation: Cosmetics stands for the highest share in global rosehip extract market

In 2021, the cosmetics segment had the highest revenue share of YY percent. The increased use of natural and plant-based products in cosmetic industry has increased the demand for botanical extracts such as rosehip extract in the market. In addition, the cosmetic applications of rosehip extract for the skin and hair are well-known for its anti-aging and anti-inflammatory benefits. Furthermore, it is high in vitamin C (Ascorbic Acid) and other antioxidant compounds including Polyphenols, and displays an excellent antioxidant profile, which is used to enrich many cosmetic preparations and formulations designed to protect, rejuvenate, firm, soothe, condition, or strengthen the skin and hair. For instance, in 2020, according to New Directions Aromatics, in skincare products, the addition of rosehip extract can contribute to an improvement in the appearance of skin elasticity, the brightening of dull or discolored complexions, and also support the skin's protection against environmental pollutants as well as UV light.

Geographical Penetration: Asia-Pacific is the dominating region during the forecast period

In 2021, Asia-Pacific had the highest revenue share of YY percent. The increasing number of skin-conscious customers in developing economies such as China, Japan, and India, increasing the demand for rosehip extract in the market. In addition, the rise skin related issues in India are driving market revenue growth. For instance, in 2020, according to Indian Journal of Dermatology, Venereology and Leprology, skin and subcutaneous diseases accounted for 4.02 % of the total YLDs in India in 2017; dermatitis, urticaria and acne contributed significantly to the burden of skin diseases in India. However, infections and infestations also contribute to nearly 30 % of the total YLDs due to skin and subcutaneous diseases such as fungal skin diseases 12.6%, viral skin diseases-10.0% and scabies- 10.3%. Thus, owing to increased skin problems enabled the consumers to take care of the skin by using natural products such rosehip extract is driving the growth of the market in the region.

Competitive Landscape:

The global matcha tea market is competitive and comprises players such as Afriplex, Sevoa Naturals, Rosbio Bulgaria, SC AGRAL PROD SRL, Granasur S.A, Ararat Food Factory, Nature's Goodness, ParkAcre Enterprises, Foodchem International and DM Pharma among others. The rosehip extracts market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as agreements and product innovation, product launches for various applications. Furthermore, rising research and development activities for skin care and cosmetics solutions and rising demand for organic as well as inorganic rosehip extracts which enables manufacturers to launch new products in the market. In addition, the rise in acquisitions, collaborations, and product developments is driving the growth of the market.

For instance,

• In 2017, Afriplex acquired the Edelweiss Pharmaceutical business and is in the process of taking over the manufacturing of all solid dosage forms, namely tablets and capsules.

COVID-19 Impact

Negative effect global rosehip extracts market

The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Personal care, cosmetic, food & beverages, agriculture are some of the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants. The COVID-19 pandemic posed various challenges to many industries across the globe, mainly due to supply chain disruptions. To ensure the effective and timely distribution of products, businesses, have been entering supply chain agreements with rosehip extract distributors and dealers.

The rosehip extracts market had a negative impact due to COVID 19 pandemic due to the shutdown of many companies that affected the manufacturing and trading of rosehip extracts. In addition to this, customers purchasing behavioral changes inclined towards reliable and safe products. Furthermore, supply chain disruption had slow down impacting rosehip extracts market and decreased the sales of the product. The rise in demand for e-commerce channel has led to alterations in business marketing strategies. However, there has been increase in the demand for botanical extracts owing increased awareness about the skincare benefits which adds to the growth of the market.

The global rosehip extracts market report would provide an access to approximately 58 market data tables, 51 figures and 171 pages