According to a new market report published by Credence Research Inc., “Grape Seed Extracts Market (By Form Type (Powder, Liquid, and Gel), By Application (Food, Pharmaceuticals, Cosmetics and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the worldwide grape seed extracts market was valued at US$ 361.7 Mn in 2015. In terms of volume the global market stood at 463.6 tons in 2015.
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Rising awareness regarding the health benefits with the consumption of grape seed extracts is the major factor driving the market growth. Grape seed extracts plays a vital role in addressing health related issues such as skin damage, blood pressure, cardiovascular issues and cancer. In addition, due to its anti-ageing and antioxidants properties coupled with rising demand for the natural and organic personal care and skin care products, will further propel the grape seed extracts market demand. Symptoms of allergies to some people when consumed are the key factor hampering the grape seed extracts market growth.
Expanding applications scope of grape seed extracts is projected to spur the market demand. Furthermore, changing demographics in emerging economies such as change in lifestyle, rise in disposable income, increasing awareness about the grape seed extracts and companies entering into these regions is projected to propel the market demand in the near future. Surging popularity of grape seed extracts globally, about it uses in medicines is also projected to boost the market demand.
The major companies in grape seed extracts market are involved in new developments and innovations to increase the application scope of the grape seed extracts across various industries. Furthermore, companies are now expanding their manufacturing units over emerging economies as these economies offers huge growth potential. Some of the major players present in this market are Naturex, Botanic Innovations LLC., Polyphenolics, Augusto Bellinvia, Naturias, and Earthoil.
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- Focus on targeting new application area for grape seed extracts
- Emerging economies provides huge market potential
- Enhancing new distribution channels
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