Cranberry, an evergreen shrub found in wet areas include wetlands and marshy areas. Cranberry is native to northern parts of the United States. Cranberry extract include powder, liquid and pigment of anthocyanin. Anthocyanin is used in dietary supplement products. It is used as natural food colors in food and beverages industry along with that it can be used in seafood and poultry. In cosmetic industry, it is used as an antioxidant for skin. It is a rich source of anti-oxidants and an effective cure for bladder infections. Increasing demand for natural products and more utilization of cranberry extract as natural food colors drive an increase in demand in the global market.
Cranberry Extract Market Segmentation:
Cranberry extract market is segmented on the basis of product form, application, and distribution channels.
On the basis of product form, cranberry extract market segments include liquid, dried and powder. Among all of these, powder segment holds the major share and is expected to register a growth during the forecasted period. Cranberry powder widely used in the treatment of bladder infection as a dietary supplement. Some research shows that drinking cranberry juice can lower the risk of repeated UTIs in elderly people.
On the basis of application, cranberry extract market segments include food, beverages, pharmaceuticals, nutraceuticals, confectionary, bakery, personal care and beauty products, and others. Among all of these, Pharmaceuticals segment holds the major share and is expected to register a steady growth over the forecasted period. Followed by food segment as natural food flavors and is expected to fuel the market over the forecasted period. The cranberry extract market has also been closely tied with dietary supplements and syrup market. Cranberry extract powder is also used in cosmetic and skin care products are expected to register relatively medium growth over the forecast period.
On the basis of distribution channels, it is segmented into direct selling, distributors, wholesalers, and online. Among these, the online is expected to gain major revenue shares over the forecast period.
Cranberry Extract Market Regional Outlook:
On the basis of regions, cranberry extract market is segmented into following key regions; North America, Latin America, Eastern Europe and Western Europe, Asia Pacific & Japan, and The Middle East and Africa.
North America grabs the major share of global cranberry extract market. Consumption of cranberry extract which benefits potential health and nutrition have more demand in North America regions and it is expected to grow at a steady rate. U.S is one of the major supplier of cranberry extract for its food and beverages industry. Followed by other developing regions and is expected to register an increase in consumption of cranberry extract in global market over the forecasted period.
Cranberry Extract Market Dynamics:
With the increasing demand for natural flavors and pigmenting agent, the consumers are more inclined towards using cranberry extract products as compared to artificial agents, along with the changing lifestyle focused more towards natural products benefit drives an increase in demand for the global market. Rising application of cranberry extract and consumer preference for its strong red pigment is expected to account an increase in demand in the global cranberry extract market. The seasonal availability and fluctuating prices for cranberry fruits along with stubborn disease caused by Viburnum leaf beetle destroying global cranberry yield are the only restraint for the cranberry extract market.
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Cranberry Extract Market Key Players:
Some of the key players participating the global cranberry extract market include NOW foods Inc., Ocean Spray Cranberries Inc., Pharmavite LLC, Nature’s Way Products LLC., SWISSE WELLNESS PTY LTD, Gaia herbs Inc., Nature’s Best Health Products Ltd, The Green Labs LLC, RB LLC., and Amway Ltd.