Meticulous Research® has released a new report titled ““Fruit Extracts Market Source (Citrus Fruits, Apples, Pineapples, Grapes, Pears, Berries), Form (Powder, Liquid), Application (Beverages, Food, Nutraceuticals, Cosmetics) – Global Forecast to 2031.” The report predicts a 7% CAGR from 2024 to 2031, estimating the market will reach $31.11 billion. This growth is driven by the increasing focus on health and wellness, a shift towards natural ingredients, and the expanding use of fruit extracts in cosmetics. Challenges include high production costs and a preference for artificial flavors, but opportunities exist in emerging markets and clean-label products.
The report notes that citrus fruits will hold the largest market share in 2024 due to their health benefits and flavor. The powdered form of extracts will lead the market due to its stability and ease of use, while liquid extracts will experience the highest growth rate. The beverage segment will be the largest application area due to rising consumer demand for healthy drinks. North America will dominate the market share, while the Asia-Pacific region will see the highest growth.
Moreover, the report provides insights into the competitive landscape and strategic initiatives undertaken by key market players. Companies are investing in research and development to enhance the functionality and application of fruit extracts. Additionally, strategic partnerships and acquisitions are expected to play a crucial role in expanding market reach and strengthening competitive positions. The focus on innovation and strategic growth initiatives will likely drive the market forward and create new opportunities for stakeholders.
Key Players
The key players operating in the fruit extracts market are Kerry Group plc (Ireland), Givaudan SA (Switzerland), Symrise AG (Germany), DSM-Firmenich AG (Switzerland), Archer-Daniels-Midland Company (U.S.), Döhler GmbH (Germany), International Flavors & Fragrances, Inc. (U.S.), New Directions Aromatics (Canada), Synergy Flavors, Inc. (U.S.), and Ingredion, Incorporated (U.S.).
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Key Questions Answered in the Report-
- What is the current revenue generated by fruit extracts globally?
- At what rate is the global fruit extract demand projected to grow for the next 5–7 years?
- What are the historical market sizes and growth rates of the global fruit extracts market?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of source, form, and application are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global fruit extracts market?
- Who are the major players in the global fruit extracts market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global fruit extracts market? What are the impacts of these strategic developments on the market?
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