Cranberry Extracts Market Size, Share, Growth, and Industry Analysis by Type (Drug Grade Cranberry Extracts, Food Grade Cranberry Extracts), by Application (Health Care Industry, Pharmaceutical Industry, Others), Regional Insights, and Forecast To 2032

Cranberry Extracts Market Report Overview

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global cranberry extracts market size was USD 96.98 million in 2021 and market is projected to touch USD 191.50 million by 2032 at CAGR 6.38% during the forecast period.

Cranberry an evergreen shrub found in wet areas include wetlands and marshy areas. Cranberry extract is a nutrient and health supplement. It contains antioxidants, vitamins, and minerals that support good dental hygiene and prevent the creation of plaque. Cranberry extract is a natural product that contains polyphenols. In cosmetic industry it issued as an antioxidant for skin. It is a rich source of anti- oxidants and an effective cure for bladder infection. Increasing demand for natural products and more utilization of cranberry extract as a natural food colours drive an increase in demand in the global market. Along with the changing lifestyle focused more towards natural products.  Leading businesses in the food and beverage sector depend on farmers and commodities traders that grow and sell non-GMO fruits, such as cranberries, to manufacture clean-label, nutrient-dense, and healthful goods. Cranberries are used to make a variability of processed goods, including cranberry raisins, juices, jams, jellies, sauces, dried cranberries, powders, extracts, and more.

Local peoples consume cranberries in a variety of ways, including fresh, ground, mashed, and baked with cornmeal. The demand for dried cranberries is increasing for numerous products including cranberry poultices, therapeutic teas, and colours. Cranberry extract is used in many food items such as ice cream, cereal bars, and fruit powders to augment their nourishing value. The other uses are dairy products because of their tart flavour and aroma for this reason, they can be mixed with yogurt or milkshakes. Being a natural product with no side effects, its demand will upsurge due to growing consumer awareness about the benefits of accepting a healthy lifestyle. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

The global COVID-19 pandemic has been unprecedented and staggering, with cranberry extracts market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Cranberry Extracts Market Segmentation 

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• By Type

According to type, the market can be segmented into drug grade cranberry extracts, food grade cranberry extracts.

Drug grade cranberry extracts will capture the maximum market share through forecast period.

• By Application

According to application, the market can be segmented into health care industry, pharmaceutical industry, others.

Cranberry extracts market players cover segment as health care industry will dominate the market share during forecast period.

Driving Factors

"Increase in demand for medicinal beliefs to boost the market growth"

Cranberry market growth is the healing benefit of cranberries. Furthermore, cranberries anti-inflammatory and antioxidant abilities help augment the immune system and metabolic, and cardiovascular health. Antioxidant phytochemicals institute in cranberries reduce oxidative cell damage and help in disease prevention.  The demand is motivated by the growth of these industry which is anticipated to enhance market growth.

"Rising consumption of on-the- go snacks to upsurge the market."

The market for dried cranberries is growing because of the rise in the consumption of on-the-go snacks. Rising consumer consciousness of the health dangers connected to junk food consumption, such as heart disease, diabetes, and other chronic diseases is projected to be the foremost driver to the increase demand for dried cranberries which will upsurge the cranberry extracts market growth.  Growing healthy eating practices and a busy lifestyle is one of the major trends in the universal dried cranberries market.

Restraining Factors 

"Price fluctuation to hamper the market growth"

Price fluctuation is hampering development of cranberry extracts market. Seasonal availability and price fluctuation is depleting the market growth. Also, stubborn disease caused by viburnum leaf beetle terminating universal cranberry yield are the limitation for the market. Technical difficulties will reduce the industry revenue.

Cranberry Extracts Market Regional Insights

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"North America to dominate the region due to increasing demand for cranberries from processing industries"

North America is further expected to witness growth in the cranberry extracts market share. The region is dominating the market due to increase in the demand for cranberries from the processing industries. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

LIST OF TOP CRANBERRY EXTRACTS COMPANIES

• Maypro (U.S.)
• Natural Field (Switzerland)
• Indena (Italy)
• Bio-Botanica (U.S.)
• Martin Bauer (Germany)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.