The global blueberry extract market is anticipated to record a CAGR of 12% from 2018-2023. Blueberry extract has observed an increased demand from the nutraceutical industry, due to its inherent nutritional profile. Blueberry is rich in antioxidants, which makes its extract a preference for companies in supplements and product manufacturing. Blueberry extract has the highest value among its ingredients, due to its costly extraction process and high ingredient cost.
Rising Organic Blueberry Demand
Increased demand for dietary supplement and nutraceutical products, growing aging population, and rising demand for organic blueberry extract, are the various factors driving the market. The United States is the largest market for organic blueberry extract, owing to consumer preference for organic fruits. The trend is growing at a faster rate in Europe as well. Blueberry extract has a rich phytochemical profile and contains high antioxidant content, which makes it ideal for the pharmaceutical and supplement industries. In pharmaceuticals, blueberry extract is used for cognitive health and immunity.
Market segmentation by product types includes liquid, powder, and pill/capsules. Blueberry extract in liquid form holds a significant share in the market, owing to the ease of industrial product formulation, as compared to powder form. Dietary supplement/Nutraceutical, pharmaceutical, and food & beverage are the various industrial applications of blueberry extract. The less strict regulatory requirement for dietary supplement, as compared to the pharmaceutical industry has supported the blueberry extract market growth. A pharmaceutical drug based on blueberry extract requires OTC drug approval, which is not the case with nutraceutical products. The demand of blueberry extract in the food & beverage industry is growing, due to the growing demand for functional food products.
The North American region has the largest share in the blueberry extract market, followed by Europe. The United States dominates the market for blueberry extract, driven by the increased health and wellness consumers and growing demand for organic blueberry extracts. The growing demand of blueberry extract from Asia-Pacific offers a great opportunity to the market growth.
- April 2017 - Naturex launched wild blueberry extract that is associated with memory improvement.
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- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
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- Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trend
3.2 Consumer behaviour
3.3 Market Dynamics
18.104.22.168 Increased Demand from the Nutraceutical Industry
22.214.171.124 Growing Demand from the Aging Population
126.96.36.199 Rising Demand for Organic Blueberry Extract
188.8.131.52 Limited Production and High Cost of Ingredient
184.108.40.206 Growing Demand for Dietary Supplement and Functional Beverages in Developing Regions
3.3.4 Porter's Five Forces Analysis
220.127.116.11 Bargaining Power of Suppliers
18.104.22.168 Bargaining Power of Buyers
22.214.171.124 Threat of New Entrants
126.96.36.199 Threat of Substitute Products and Services
188.8.131.52 Degree of Competition
4. Market Segmentation
4.1 By Product Type
4.2 By Application
4.2.2 Food & Beverage
4.2.3 Nutraceutical/Dietary Supplement
4.3 By Geography
4.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
4.3.4 South America
4.3.5 Rest of the World
18.104.22.168 South Africa
5. Competitive Landscape
5.1 Strategy Adopted by Key players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. List of Company Profiles
6.3 Nutragreen Biotechnology Co. Ltd
6.4 Carruba Inc.
6.5 Shaanxi Guanjie Bio-technology Co. Ltd
6.6 Life Extension
6.7 JF Natural
6.8 Bio-Botanica Inc.
6.9 Mazza Innovation Ltd