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European Natural Extracts Markets
Frost & Sullivan, Oct 2007, Pages: 173
This Frost & Sullivan research titled European Natural Extracts Market provides an overview of the trends in the market for natural extracts from plants along with an analysis of key application sectors, market drivers and restraints. It analyses diverse challenges faced by natural extract manufacturers and provides strategic recommendations for the same. The research also offers an insight into the market’s competitive structure. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: rosemary extracts, grape-seed extracts, bilberry extracts, tomato extracts and guarana extracts.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
-Rosemary extracts
-Grape-seed extracts
-Bilberry extracts
-Tomato extracts
-Guarana extracts
-Other Vitamin B markets
Market Overview
Changing Customer Preferences Buoy Prospects of Natural Extracts Manufacturers
Extracts from herbs and botanicals have long been used as a source of preventive health in Europe. Recently, there has been a renaissance in the popularity of the trend of ‘food as medicine’ with the general perception that a magic bullet is present in the functional properties of such foods. 'Consequently, natural extracts from fruits, herbs and vegetables containing active ingredients are in high demand,' says the analyst of this research. 'Europe has traditionally used natural extracts as part of its diet and the awareness that these extracts have additional health benefits have caused the demand for such ingredients in foods to soar.' In addition, the ease with which the majority of these extracts can be incorporated into beverages has boosted market prospects. Popular natural extracts include bilberry, rosemary, grape-seed, guarana, tomato, pomegranate and others. Of these guarana is the largest in terms of volume and is an extremely nascent market catering to the energy fortification segment with growth rates between 6.0 and 7.0 per cent.
Consumer preference for natural ingredients will add further momentum to market growth. Heightened awareness about the importance of micronutrients coupled with the trend towards preventive medication is supporting the use of natural extract ingredients in food applications, fortification and dietary supplements industries. The rising consumer acceptance of enriched foods has widened the scope for new research into the benefits of natural extracts in the fortification of food and beverages. The popularity of products such as energy drinks and slimming bars is a result of such changing consumer preferences. In addition, the increasing use of natural antioxidants in the food application sector and in new avenues such as nutricosmetics has created exciting growth potential for natural extracts manufacturers.
Expansion into New Application Areas Crucial to Maintaining Growth Momentum
The emergent European natural extracts market is extremely competitive. It also faces the threat of substitution from synthetic alternatives, triggering an intensified drive to promote quality assurance and product differentiation. Promisingly, the market is rapidly penetrating new application sectors. 'Application profiling and high quality assurance levels are the key drivers for the European natural extracts market,' notes the analyst. 'The rising threat of substitution – both from other extracts and from synthetic equivalents – has underlined the need for individual extracts to increase penetration into new application sectors and maintain their market significance and stability while developing a niche in this extremely aggressive market.'
A key challenge remains an unclear and ambiguous regulatory scenario. Manufacturers have had to proactively introduce their own quality assurance tests, significantly increasing their costs and reflecting on the final pricing of the natural extracts. This, in turn, has resulted in food producers adopting a cautionary approach to substituting synthetic products with natural alternatives. To leverage market opportunities, companies will need to increase the penetration of natural extracts into new application areas. Research targeted towards the improvement of quality assurance as well as enhancing the properties of extracts through strategies such as combination formulae and technologies such as microencapsulation and application profiling will also help companies emerge successful.
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