In 2018, the global market for blueberry extracts was valued at US$ 201.0 million and is projected to experience a compound annual growth rate (CAGR) of 10.1% from 2019 to 2027, reaching an estimated US$ 475.9 million by the end of the forecast period.
Blueberry extracts are derived from the small berries of the perennial flowering bush known as Cyanococcus. These extracts are recognized as a natural health supplement, produced from concentrated blueberry juice. They boast a rich nutritional profile, serving as an excellent source of antioxidants, beneficial plant compounds like flavonols and anthocyanins, along with other essential nutrients. The increasing awareness of their health benefits has prompted food and dietary supplement manufacturers to focus more on blueberry extract products, resulting in a surge in global demand. The growing health consciousness among consumers is further fueling the preference for products made from natural ingredients. To meet the rising market demand for blueberry extracts, producers are expanding the range of applications for these extracts.
The blueberry extracts market is categorized by form into liquid, powder, dried (dehydrated), and puree. In 2018, the liquid segment was the leading category in the blueberry extracts market. Additionally, the powder segment is anticipated to witness significant growth during the forecast period. Manufacturers tend to favor the production of liquid blueberry extracts due to the convenience it offers in industrial formulations. Furthermore, liquid extracts are extensively utilized in the creation of food and beverage products, as well as nutraceuticals, to enhance flavor and nutritional value.
North America was the leading region in the blueberry extracts market in terms of value in 2018. The expansion of the blueberry extract market in this area can be largely attributed to the rapid growth of the pharmaceuticals, dietary supplements, and food and beverage sectors in both the United States and Canada. The increasing demand for healthy and nutritious food and beverages among health-conscious consumers is a primary driver of the blueberry extract market in North America. Additionally, blueberry extracts are commonly used as key ingredients in cosmetic products, and the rising awareness of their benefits in cosmetics has further propelled market growth in this region.
Key players in the global blueberry extracts market include Berrico, Bio Botanica, Carrubba Inc., FutureCeuticals, Inc., HerboNutra, Life Extension, Mazza Innovation, Naturalin, Nutragreen Biotechnology, and Shaanxi Guanjie Technology Co., Ltd., among others.
The overall size of the global blueberry extracts market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the blueberry extracts market. Additionally, numerous primary interviews are conducted with industry participants and experts to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the blueberry extracts market.