Research Offers 10-Year Forecast on Grape Seed Extract Market
Grape seed extracts are powerful natural antioxidant and oligomeric proanthocyanadin (OPC). Grape seed extracts offer a natural alternative to synthetic preservatives for processed meat, it can also be used as natural alternative of artificial additives such as Butylated hydroxyanisole (BHA), Butylated hydroxytoluene (BHT). North America particularly U.S. is the major market for grape seed extracts owing to extensive research and marketing in the country. In Europe, manufacturers are seeking health claim approval from European Food Safety Authority for grape seed extracts in the region. Dietary supplement is the major application for grape seed extracts, however it has many other uses in medicines, personal care and others.
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Global Grape Seed Extract Market Segmentation:
On the basis of application grape seed extracts market is segmented into food industry, pharmaceutical industry, personal care industry and others. It is majorly used in food industry as a dietary supplement. By the form of grape seed extracts market is segmented into powder, liquid and gel. Powder and liquid is widely used in food industry as dietary supplement. Grape seed extracts in the form of gel are mainly used in cosmetics.
Geographically, grape seed extracts market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. Where in terms of revenue contribution, North America holds the largest share for grape seed extracts followed by Western Europe.
Global Grape Seed Extract Market dynamics:
Global grape seed extracts market is mainly driven by health consciousness among consumers. Also, procurement of good quality grape seeds for the manufacturing process is a challenge for the manufactures in North America and Europe. Moreover, symptoms of allergies such as histamine might restrain the adoption of grape seed extracts in food products, which is expected to restrain the market growth. Owing to antioxidants and anti-ageing properties coupled with increasing demand for personal care and skin care market, the demand for grape seed extracts is expected to increase in the near future. Also, its uses in medicines and dietary supplements is surging popularity of grape seed extracts worldwide. Asia pacific excluding Japan and Middle East are anticipated to witness grape seed extracts product launches by the companies.
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Global Grape Seed Extract Market Key Players:
Key manufacturers are mostly from North America and Europe owing to market opportunity in these regions. However, understanding the growth prospects over emerging countries, companies are now expanding their manufacturing units over Asia pacific, Middle East and Latin America as well. Some of the key players identified in this market are Indena S.p.A., Botanic Innovations LLC., Polyphenolics, Naturex and Nexira.
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