The acai berry is a small purple fruit that grows on acai palm trees in South America. It is a superfood that is rich in antioxidants, vitamins, minerals, fiber and healthy fatty acids. Acai berry consumption has grown in popularity in recent years due to its associated health benefits such as weight management, cardiovascular support, anti-aging properties and cancer prevention. It is commonly consumed as a juice, either pure or blended with other fruits, or as a supplement in the form of capsules or powders. The global acai berry market has experienced significant growth with increased health awareness among consumers who are actively seeking out nutrient-dense foods and beverages to complement their diet.
The global Acai Berry Market is estimated to be valued at Us$ 1656.7 Mn in 2023 and is expected to exhibit a CAGR Of 3.8% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the acai berry market is its application in the cosmetic industry. Acai berry extracts contain antioxidants like anthocyanins that can fight free radical damage and signs of aging when applied topically. Cosmetic products containing acai berry are being launched for their anti-aging properties. For instance, acai berry is used in formulations for anti-aging creams and serums. The antioxidant content nourishes the skin and reduces fine lines and wrinkles. This growing application of acai berry in natural cosmetic products is expected to present lucrative opportunities over the forecast period.
Threat of new entrants: The threat of new entrants is moderate as the acai berry market has relatively high cultivation and harvesting costs owing to the remote geographical locations of acai berry production.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as buyers have a high degree of product differentiation with acai berry juice, pulp, and oil being substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is high since there are a few large suppliers of acai berry in the global market.
Threat of new substitutes: The threat of new substitutes is moderate as there are no close substitutes for acai berry with similar nutritional profile and health benefits. Competitive rivalry: The competitive rivalry is moderate to high as there are few global players operating in the acai berry market.
The Global Acai Berry Market Demand is expected to witness high growth over the forecast period. North America region is expected to dominate the acai berry market owing to the high demand in the region. Key players operating in the acai berry market include Arvind Ltd, Toray Industries Inc., Tjx Companies Inc., Far Eastern New Century Corp., Vf Corporation, and Industria De Diseno Textil Sa (Inditex).
North America is expected to account for the largest share in the global acai berry market over the forecast period. The high demand for superfoods and popularity of acai berry in health drinks and supplements are the major factors driving the growth of the acai berry market in the region.
Key players operating in the acai berry market are Arvind Ltd, Toray Industries Inc., Tjx Companies Inc., Far Eastern New Century Corp., Vf Corporation, and Industria De Diseno Textil Sa (Inditex). Arvind Ltd. is a major textile manufacturing company based in India. Toray Industries Inc. is a Japanese manufacturer of fibers and textiles.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it