by The global Grape Seed Extract Market is estimated to be valued at US$ 219.7 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Grape seed extract is a powder extracted from the seeds and peel of grapes through cold pressing. It is a rich source of polyphenols including proanthocyanidins, which contribute towards strong antioxidant properties. Grape seed extract offers various health benefits such as protection against free radicals, reduction of inflammation, lowering cholesterol levels and blood pressure. It helps support cardiovascular health and improve skin tone. Being a natural preservative, grape seed extract is increasingly used in personal care and cosmetic products including facial creams, lotions and hair care products.
Market Key Trends:
The growing health consciousness among consumers is driving the demand for antioxidant and anti-aging superfruits including grapes. The rising awareness about the benefits of grape seed extract in promoting longevity is fueling its adoption in dietary supplements. Furthermore, its application as a natural food preservative is boosting demand in the food and beverage industry. Continuous research and development activities are leading to new innovations and product launches containing grape seed extract. For instance, the introduction of grape seed extract based cosmetic products is gaining popularity among consumers looking for natural anti-aging solutions.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants in the grape seed extract market is low, due to the presence of well-established players and high raw material and R&D costs involved.
- Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes. However, grape seed extract offers unique health benefits.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the consolidated nature of suppliers and availability of alternative sources of raw materials.
- Threat of new substitutes: The threat of new substitutes is moderate as other plant extracts offer similar health benefits but grape seed extract has its unique advantages.
- Competitive rivalry: High due to the presence of many established brands.
Key Takeaways:
The global grape seed extract market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand from food and beverage industry. Growing health consciousness among consumers is driving the use of dietary supplements containing grape seed extract.
Regional analysis- North America dominates the global grape seed extract market, owing to increasing consumer awareness about health benefits of grape seed extract. Asia Pacific exhibits the fastest growth in the forecast period owing to rising disposable income and growing consumption of dietary supplements in China and India.
Key players- Key players operating in the grape seed extract market are Botanic Innovations LLC, Polyphenolics, NATUREX, Nexira, Augusto Bellinvia srl, Hunan NutraMax Inc., Jianhe Biotech Co., Ltd., Ambe NS Agro Products Pvt. Ltd., Midas Pharma GmbH, and Bhooratna Agri Processors. Key players are investing in R&D to develop innovative product formulations and expand their geographic footprint through mergers and acquisitions.
