Global Cranberry Extract Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Cranberry Extract Market 2021 (Includes Business Impact of COVID-19)
Global Cranberry Extract Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global cranberry extract market report has been segmented on the basis of product form, application, distribution channels, and region.
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The global Cranberry Extract market size was valued at USD $681.26 million in 2020 and is projected to reach USD $2181.36 million by 2030, and is anticipated to expand at a CAGR of 6.45% over the forecast period from 2020 to 2030.


Global Cranberry Extract Market: Overview


Cranberry is a type of berry found in marshy or swamp areas, especially northern parts of the US. Cranberry plant is an evergreen shrub with pink flowers and red & black fruits appear in June and July. It is used to make jam, jellies, sauce, and other processed products due to their acidic taste which overwhelms its sweetness. It has high nutritional value and is a rich source of antioxidant content which helps to boost the overall health and fight infections. It is used in medicines to prevent urinary tract infections and play an important role in stomach ulcer treatment.


Global Cranberry Extract Market: Dynamics


Increasing consumer awareness regarding health benefits of cranberry such as it helps to reduce risk for heart disease, stroke, diabetes, and protect teeth and gums. This is a key factor expected to drive growth of the global market in the next coming years. Additionally, inclination of consumers towards use of cranberry extract owing to growing demand for natural flavors is another factor anticipated to fuel growth of the target market to a certain extent. Furthermore, rapid urbanization, coupled with changing lifestyle, rising dispersible income level, and preference of consumers for strong red pigment in various food products are some of the other factors expected to increase demand of the cranberry extract globally.

However, over consumption and lack of awareness about the medicinal benefits of cranberry extract are factors expected to hamper growth of the target market.


Global Cranberry Extract Market: Segment Analysis


Among the product form segments, the powder segment is expected to hold major share and projected to register significant growth during the forecast period. The cranberry powder is widely used in the treatment of bladder infection as a dietary supplement and in cosmetic and skin care products.

Among the application segments, the food segment is expected to account for major share in terms of revenue whereas the pharmaceuticals segment is projected to register moderate revenue growth in the target market. This can be attributable to growing consumer demand for natural flavors and pigments, and medicines with natural ingredients.

Among the distribution channels segments, the online segment is expected to account for major revenue share during the forecast period owing to its all-time availability.


Global Cranberry Extract Market: Region Analysis


The North America cranberry extract market is expected to account for major share in terms of revenue and projected to maintain its dominance in the near future. Increasing consumption of cranberry extract owing to its therapeutic properties and presence of major suppliers in countries such as the US are factors expected to drive growth of the North America market. The Asia Pacific market is expected to register highest CAGR in the target market during the forecast period, due to increasing health consciousness among consumers, coupled with rising disposable income.

Global Cranberry Extract Market Segmentation:

Segmentation by Product Form:

  
Liquid
  
Dried
  
Powder

Segmentation by Application:

  
Food & Beverages
  
Pharmaceuticals
  
Nutraceuticals
  
Confectionary
  
Bakery
  
Personal care and beauty products

Segmentation by Distribution Channels:

  
Direct
  
Distributors
  
Wholesalers
  
Online


Key Market Players included in the report:


  
Amway
  
Angelantoni Test Technologies S.R.L.
  
Artemis International
  
Bahnson Environmental Specialties, LLC
  
Binder GmbH
  
Cincinnati Sub-Zero Products, Inc.
  
Climatic Testing Systems, Inc.
  
CM Envirosystems Pvt. Ltd.
  
Eckel Noise Control Technologies
  
Envsin Instrument Equipment Co. Ltd
  
ESPEC
  
Ethical Naturals Inc.
  
Gaia Herbs
  
Hanse Environmental Inc.
  
Hastest Solutions Inc.
  
Konrad Technologies GmbH
  
Langyuan Bio-Tech Co., Ltd
  
Memmert GmbH + Co. Kg
  
Natures Way Products LLC.
  
NOW foods Inc.
  
Ocean Spray
  
Pharmavite
  
Presto Group
  
Russells Technical Products
  
Scientific Climate Systems
  
Swisse Wellness Pty Ltd
  
The Green Labs
  
Thermal Product Solutions
  
Weiss Technik UK