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 derived from grape seeds (Vitis vinifera). It contains a high concentration of polyphenolic compounds such as proanthocyanidins and flavonoids. Grape seed extract is known for its antioxidant properties and is extensively used in pharmaceuticals, cosmetics, and food & beverage industries.
Market Key Trends:
One of the key trends in the grape seed extract market is its increasing demand from the pharmaceutical industry. Grape seed extract possesses strong antioxidant and anti-inflammatory properties due to the presence of oligomeric proanthocyanidins. It helps in reducing free radical damage and oxidative stress. As a result, grape seed extract is extensively used in medicines and dietary supplements for different health conditions like heart health, eye health, diabetes, weight management, and skin care. It is also used in cosmetic formulations for anti-aging creams and lotions due to its protective effects on skin cells against damage from ultraviolet radiation. Rising health awareness has been fueling the demand for natural pharmaceuticals and cosmetics, boosting the grape seed extract market.
SWOT Analysis:
Strengths:
– High antioxidant activity that protects cells against oxidative damage
– Wide range of health benefits such as supporting heart health, improving vision and boosting immunity
Weaknesses:
– Limited research available on its long term effects and interaction with other drugs
– Vulnerable to price fluctuations as it depends on wine and grape industry
Opportunities:
– Growing demand from cosmetic industry for its anti-aging properties can help market expansion
– Increasing consumer awareness about health benefits offers new opportunities for product innovation
Threats:
– Strong competition from other natural antioxidants like resveratrol and Pycnogenol
– Stringent regulations regarding use of plant extracts in cosmetics and pharmaceuticals products
Key Takeaways
The global Grape Seed Extract market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, 2023 to 2030, due to increasing demand for natural antioxidants in food and personal care industry.
The global market size for grape seed extract stood at US$ 219.7 Mn in 2023. North America dominated the grape seed extract market in 2023 due to booming nutraceuticals industry, followed by Europe due to rising health consciousness. Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing economies, health awareness and expanding middle class population in China and India.
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. Players are engaged in new product launches, agreements and collaborations to strengthen their market share.
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