Acerola Extract Market

Acerola Extract Market Size and Forecast (2023-2028):

The Global Acerola Extract Market size is expected to reach USD billion with a CAGR of 7.60% by 2028, where the base year is considered 2022, when the acerola extracts market share value was USD 40.97 million.

Market Overview:

Acerola extract is derived from the Acerola cherry (Malpighia emarginata), also known as the Barbados cherry or West Indian cherry. It is an edible fruit which as high amount of ascorbic acid and anthocyanin content. They are one of the richest sources of vitamin C, and this fruit grows on medium-sized shrubs throughout the year. It has approximately 1677 mg per 100 g of vitamin C in the fruit. Additionally, also they are a rich source of vitamins A, B1, B2, and B3, along with carotenoids and bioflavonoids, offering significant nutritional benefits and serving as potent antioxidants. Its extract is consumed in the form of capsules and liquid. Many people often take this extract to boost the immune system and enhance collagen synthesis for skin health. These cherries are native to tropical regions of the Americas and are particularly abundant in countries such as Brazil, Puerto Rico, and Barbados.

Recent Developments in the Acerola Extract Industry:

• On 19 May 2022, Researchers from Sao Paulo University in Brazil carried out experiments for extracting the antioxidants from unripe acerola cherries, which replaced the synthetic antioxidants in food emulsions.
• On 25 September 2020, Diana Foods acquired a certification for Fair Trade “Fair for Life,” which caused them to extend their product range by introducing organic, sustainable, clean acerola powder as an immune booster for consumers. This powder can be added to food, beverages, bakery products, and juices by providing a high amount of vitamin C as well as antioxidants along with flavor.

REPORT COVERAGE:

Drivers:

Acerola extracts resonate with health-conscious consumers who seek products that are natural and free from chemicals. Also, a rising focus on the environment and sustainability has contributed to the market growth of the acerola extract market. In addition, the change in the trend for prevention rather than cure has shifted the consumer attitude and caused the adoption of such acerola extract supplements has further expanded the acerola extract market size.

As there is an increasing focus on skincare, it has caused a surge in demand for skin care products that are natural and organic and free from any chemicals which can lead to allergies and rashes. Acerola extract, which is loaded with vitamin C, promotes healthy and radiant skin. Also, the presence of antioxidants protects the skin from oxidative stress and free radicals caused due to UV rays and pollution. This exceptionally high vitamin C content appealed to the consumers and thus fuelled its demand leading to an increase in the market share. Acerola extracts, due to their content and composition, have also been used in different skincare products, such as serums, lotions, facemasks, and natural brightening products. And has the demand for natural products continues to grow, manufacturers are incorporating the extract in their formulations, which is propelling the market demand.

Moreover, the increasing prevalence of disease and chronic illnesses has also driven the growth of the acerola extract market, and due to a sedentary lifestyle and dietary habits, it has given rise to chronic illnesses, which caused consumers to adopt the use of supplements that help boost the immune system and helps to suppress the ill effects a symptom of the chronic diseases. Also, with the growing geriatric population, the demand for acerola extract has increased, which exponentially increased the size of the acerola extract market.

High disposable income among individuals led to a surge in demand for organic supplements such as acerola extract, which further propelled the acerola extract market demand.

Restraints:

Acerola cherries are seasonal fruit and have a limited harvest period time, that is, one or twice a year, which creates a shortage in the raw material and affects the availability for processing and manufacturing. These fluctuations in the supply affect production and disrupt the supply chain is likely to hinder the market growth rate.

Also, the extraction process for the acerola extract requires high-cost installation of equipment, which can restrict manufacturers who have low budgets and investments. This limitation declines the market size of the acerola extract market, affecting its growth.

Moreover, the awareness of the acerola extract supplement is restricted and unknown to a broader range of consumers, despite its potential benefits. And therefore, this has created a restraint on the market growth of the acerola extract market.

Opportunities:

The Acerola extract market has a wide range of opportunities in skincare and wellness due to its Vitamin C and antioxidant content, as consumers are seeking natural organic products. Acerola extract is also incorporated into a variety of functional foods and beverages, such as juices and smoothies, and as the functional food and beverage industry continues to grow, the opportunity for acerola extract further increases. Presence of acerola extract in foods such as cereals, bakery products, and dairy, manufacturers can enhance the nutritional profile of their products.

Owing to this, acerola extract products can leverage online retail stores and E-commerce to increase their consumer base and reach a wide range of audience. Moreover, with the help of social media, the online presence of acerola extract and its benefits can be put forth for consumers who are looking for natural products. This opportunity can increase the market growth of the acerola extract market.

COVID-19 Impact on the acerola extract market:

The outbreak of COVID-19 positively impacted the demand and market size of the acerola extract market. The impact of the pandemic created awareness for health and well-being among consumers, as the importance of keeping a strong immunity led to an increase in demand for nutritional supplements, including acerola extract natural supplements. During the pandemic, consumers were seeking ways to improve their immune systems and protect them from infections. These acerola extracts are loaded with vitamin C, antioxidants, and vitamins, which boost the immune system. Moreover, due to various e-commerce platforms, the availability of medicines and supplements was increased. Hence this caused an increase in the market size of the acerola extract market, propelling its market growth. Therefore COVID-19 had a positive impact on the acerola extract market.

Acerola Extract Market Segmentation Analysis:

By Form:

• Dry/Powder
• Liquid/Paste

The Dry/Powder segment dominates the market and accounts for the highest market share and CAGR; this dominance is due to the stability and ease of transportation of dry/powder form. Moreover, the shell life of the dry/powder form is higher than the liquid/paste form, which directly makes it the most preferred form over liquid and paste.

By Type:

• Conventional
• Organic

The organic segment accounts for the highest market share since there is a growing awareness among consumers of the environment and health.

By Application:

• Dietary Supplements
• Bakery Products
• Beverages
• Sports Nutrition
• Convenience & Processed Products
• Cosmetics
• Dairy Products
• Confectionery Products
• Meat & Poultry Products
• Granola & Breakfast Cereals

Based on the application, the meat and poultry segments accounts for the highest market share; due to the increased demand for quality meat, the demand for acerola extract has increased since it is used for maintaining the color of the meat by reducing the oxidation rate of the myoglobin present in iron. Therefore, the segment is forecasted to have a higher market share as compared to others. Dietary supplements are the fastest-growing segment and are forecasted to have the highest market share and CAGR since, due to increasing awareness among consumers for health and wellness and due to the impact of covid-19, the demand and sales for dietary supplements loaded with vitamin C and antioxidants have increased. This has caused the increased market size of the acerola extract market. The beverages and sports nutrition segment are also forecasted to have significant growth due to the increased focus on health. The cosmetic segment is also forecasted to have steady growth due to consumers' demand for organic and natural cosmetics.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based on the region, the North American segment accounted for the highest market share due to increasing demand for natural and organic dietary supplements; in addition, there is increasing demand in supermarkets and retail stores since acerola extracts antioxidants extend the shelf life of the food products. Moreover, the increasing prevalence of disease and chronic illnesses also contributed to the rise in the market size. Asia Pacific is the fastest-growing segment and has the highest market share, and is forecasted to have the highest CAGR due to changes in dietary habits and increasing use in the poultry and meat industry. Also, countries like India and China accounted for huge demand for acerola extract in cattle feed stock and poultry market. Along with that, the growing economy has also contributed to the increasing usage of acerola extract in Asia Pacific regions. Europe is also predicted to have significant growth in the acerola extract market, owing to the high usage of bakery products and dairy products. Latin America has a steady growth in the acerola extract market, whereas the Middle East and Africa accounted for low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Acerola Extract Market are

• Naturex
• Green Labs LLC
• Nexira, iTi Tropicals Inc
• DuPont Nutrition and biosciences
• Blue Macaw Flora
• Diana Foods S.A.S
• Nutrilite (Amway)
• Niagro
• NutriBotanica
• Nichirei Corporation
• Handary
• Foodchem International Corporation
• Optimally Organic
• Vita Forte
• Dohler Gmbh