The global apple extract market is estimated to grow with a compound annual growth rate (CAGR) of approximately 6.5 percent over the forecast period. The report analyzes the apple extract market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the apple extract market.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Apple Extract Market: Overview
Apple extract is a pale brown powder that contains a combination of phloridzin, chlorogenic acid, and polyphenols. Its high source of antioxidants, polyphenols, and substantial amounts of vitamin E and C, which work as immune boosters, these factors have helped it gain popularity in the food and beverage business. Furthermore, it reduces the prevalence of chronic diseases such as cancer, which is projected to result in a surge in demand for pharmaceuticals.
The apple extract market's development was severely hampered by a longer lockdown time. The pandemic has had a significant impact on apple extract manufacturing and distribution infrastructures. The apple extract market is further hampered by restrictions on trading, transportation, import, and export of commodities to minimize the spread of COVID-19. Countries may see massive fluctuations in business and economics as a result of unpredictable natural disasters or pandemics.
Apple Extract Market: Growth Drivers
An increase in trend towards maintaining a healthy lifestyle is boosting the market growth
An increase in the prevalence of chronic diseases such as obesity, hypertension, and diabetes is observed across the world. Thus, there is a rise in awareness regarding health among the population especially, millennials. Apple extract contains abundant antioxidants, polyphenols, and vitamins E & C, all of which are immune enhancers. It also helps weight control, keeps a healthy heart, cures constipation, keeps the liver healthy, improves vision, prevents anemia, and hydrates the body. Owing to this, the market for apple extract is fostered by a rising inclination towards living a healthy lifestyle through natural dietary habits. In addition to this, the growing demand for dietary supplements as well as low-calorie functional drinks is driving the growth of the market. This is attributed to factors such as an increase in disposable incomes, busy lifestyles, and a rise in purchasing power. Moreover, the easy availability of the products across e-commerce platforms offering better discounts and convenience to the consumers is also equally contributing to the market growth.
Apple Extract Market: Restraints
Chemical hazards associated with apple extract may impede the growth of the market
Excessive use of apple extract-based products is harmful to health as it consists of several chemicals. Patulin is a mycotoxin generated by a fungus that may be found in apples. Apples that are decaying or moldy might create a lot of patulin. Fallen apples that have been attacked by birds or apples that have been bruised, such as during handling, are more vulnerable to the formation of patulin-producing molds. Apples stored in settings that do not limit mold growth can also result in high amounts of patulin in the apples. Because thermal processing does not remove patulin, if fallen fruit, moldy, rotting, bruised, or broken apples, or badly kept apples are used to manufacture apple extract, large quantities of patulin may appear in the extract. Long-term exposure to excessive quantities of patulin may be harmful to one's health. This may be one of the factors limiting the market growth. Moreover, undeclared food allergens in apple extract owing to cross-contact from the same processing equipment may also be harmful to a group of people who are sensitive or allergic to any food causing allergic reactions.
Apple Extract Market: Opportunities
Expanding use of apple extract in the cosmetics sector may have several opportunities for market growth
Apple extract is widely utilized in personal grooming & cosmetic items owing to its numerous benefits. Vitamin C is abundant in apple extract, which helps to fight premature aging and maintain healthy, beautiful skin. Apple extract includes significant levels of flavonoids and phenolic compounds, both of which are powerful anti-aging agents. Apple extract also contains antioxidants, which protect the skin by neutralizing free radicals in the environment and increasing skin suppleness, reducing the indications of aging. All such factors in addition to extensive use of apple extract in pharmaceuticals as well as nutraceutical sector may likely boost the market growth during the forecast period.
Apple Extract Market: Challenges.
High cost of the product is the major challenge to penetrate the market in low-income countries.
The cost of apple extract is high due to its ingredients and preservative combinations. With such cost, it is difficult for market players to penetrate the product in low-income counties where basic food supplies are still a priority. However, to expand the market and increase the overall revenue it is crucial to make a product more feasible and purchasable for the middle-class population in developing nations. Along with this, a strong supply and distributors network is required which can make available the product at a low cost. The factors may slow down the market growth.
Apple Extract Market: Segmentation
The global apple extract market is segregated based on form, application, and region. Based on the form, the market is categorized into powder form and liquid form. The powder form is the major revenue contributor whereas the liquid form is gaining more attention due to its applications in pharmaceuticals and cosmeceuticals. The application segment of the market is split into the cosmetic & personal care industry, food & beverage industry, pharmaceutical & nutraceuticals industry, and others.
In February 2019, Glanbia Nutritionals, a science-led, quality-obsessed, and down-to-earth provider of innovative nutrition solutions acquired Watson for worth USD 89 million.
North America to lead the global market during the forecast period
North America led the global apple extract market with a market share of 36 percent. Factors such as well-established fruit processing industries, high demand for fruit extracts in middle-class population, high spending power, and increasing awareness regarding healthy lifestyle are primarily contributing to the large share of the market in the region. The United States is the major revenue contributor to the North American market. The country holds nearly 85 percent of the share in the regional market. In Europe, the market is expected to benefit from technological advancements in the raw material extraction process. Apple extract market is predicted to expand rapidly in the United Kingdom, Germany, France, and Italy owing to a growth in demand for functional foods and nutritional supplements, as well as a higher quality of life due to people's high discretionary income. Asia Pacific region is also expected to contribute to the global apple extract market. The rising demand for healthy foods and the increased availability of raw materials are the two primary factors propelling the apple extract market in the Asia Pacific.
Ambe Organic Food Products, Kepler Biotech Co., Ltd, Herbal Extraction Group., Inc., Kuber Impex Ltd., Naturex, Shanghai FanPharma Co., Ltd., GR Herbal, P.B.T, Glanbia Nutritionals, and Himalayan Herbaria Inc., are some of the dominant players that are functioning in the global apple extract market.
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An increase in the prevalence of chronic diseases such as obesity, hypertension, and diabetes is observed across the world. Thus, there is a rise in awareness regarding health among the population especially. millennials. Apple extract contains abundant antioxidants, polyphenols, and vitamins E &C, all of which are immune enhancers. It also helps weight control, has a healthy heart, cures constipation, keeps the liver healthy, improves vision, prevents anemia, and hydrates the body. Owing to this, the market for apple extract is fostered by a rising inclination towards living a healthy lifestyle through natural dietary habits.
According to the Zion Market Research report, the global apple extract market is predicted to grow with a compound annual growth rate (CAGR) of around 6.5 percent.
North America led the global apple extract market with a market share of 36 percent. Factors such as well-established fruit processing industries, high demand for fruit extracts in middle-class population, high spending power, and increasing awareness regarding healthy lifestyle are primarily contributing to the large share of the market in the region. The United States is the major revenue contributor to the North American market. The country holds nearly 85 percent of the share in the regional market. In Europe, the market is expected to benefit from technological advancements in the raw material extraction process.