Global Cranberry Extract Market Report and Forecast 2023-2028

Global Cranberry Extract Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global cranberry extract market is being aided by the growth of the cranberry market. Aided by rising demand from food and beverage industry and rising demand for natural flavours and pigmenting agents, the cranberry market is expected to grow at a CAGR of 5.9% in the forecast period of 2023-2028.

Cranberry extract is derived from cranberries, a type of small acidic berry. Known for its rich nutrient and antioxidant content, cranberry extract is used widely in dietary supplements, functional foods and beverages, cosmetics, and pharmaceutical products. The extract is highly valued for its potential to prevent urinary tract infections, improve immune function, and offer anti-ageing benefits.

The increasing global emphasis on health and wellness is a significant factor driving the cranberry extract market growth. Consumers are becoming more aware of the health benefits of cranberry extract, which includes its antioxidant, anti-inflammatory, and anti-microbial properties. With more individuals seeking natural and effective solutions for health maintenance, the demand for cranberry extract, particularly in the form of dietary supplements, has surged.

The growth of functional food and beverage sector is significantly contributing to cranberry extract market demand. As consumers gravitate towards products that offer both nutrition and health benefits, manufacturers are incorporating cranberry extract into a variety of products, including juices, smoothies, snack bars, and yoghurts. These items not only cater to the taste preferences of consumers but also provide added health advantages, such as improved digestive and immune system function.

The cosmetics and personal care industry has identified cranberry extract as a promising ingredient due to its rich antioxidant content and potential skin health benefits. The extract is increasingly being used in formulations of skincare products, where it can help combat signs of ageing, protect against environmental stressors, and promote skin hydration.

As per the cranberry extract market analysis, regulatory bodies, recognising the health benefits of cranberries, have begun to support the use of cranberry extract in various products. In addition, manufacturers are investing in research and development to create innovative and effective cranberry extract products that meet consumer demand and adhere to quality and safety standards.

North America, being the leading producer and consumer of cranberries, dominates the global market for cranberry extract. The region’s mature functional food and beverage industry, coupled with high consumer awareness of the health benefits of cranberries, contributes to this leading position. Europe follows closely due to the growing demand for natural health supplements and cosmetics. The Asia Pacific region is emerging as a significant market due to increasing health consciousness and a growing middle-class population with disposable income.

Market Segmentation

The market can be divided based on source, product form, application, distribution channel, and region.

Market Breakup by Source

• Organic
• Conventional

Market Breakup by Product Form

• Liquid
• Dried
• Powder

Market Breakup by Application

• Food
• Confectionery
• Bakery
• Dairy
• Others
• Beverages
• Pharmaceuticals
• Nutraceuticals
• Cosmetics and Personal Care
• Others

Market Breakup by Distribution Channel

• Direct
• Indirect

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cranberry extract market. Some of the major players explored in the report by Expert Market Research are as follows:

• NOW foods Inc.
• Ethical Naturals Inc.
• Artemis International
• Nature's Way Products LLC.
• Swisse Wellness Pty Ltd
• Langyuan Bio-Tech Co., Ltd
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.