The Passion Fruit Extract Market is witnessing robust growth due to increasing consumer demand for natural and exotic flavors. With its rich aroma and nutritional benefits, passion fruit extract is gaining popularity in food and beverage industries.
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The global passion fruit extract market size is expected US$ 634.9 million in 2023. The worldwide demand for passion fruit extracts is anticipated to rise at a CAGR of 8.4% from 2023 to 2033. The total market value is projected to reach US$ 1,420.3 million by 2033.
Increasing the consumption of passion fruit extract as active cosmetic ingredient by beauty and personal care companies due to growing consumer demand for new ingredients with multiple advantages is one major market driver.
Passion fruit extract for personal care and cosmetics market research by Future Market Insights includes global industry analysis of 2014-20 The market for passion fruit extract is analyzed in this paper, and it gives major forecasts of next 7 years – from the year 2022 to the year 209.
As the research shows, passion fruit extract market is estimated to grow substantially during forecast stage by various factors such as increase use of plant component in cosmetics products and consumer demand for antiaging and skin care goods.
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As the ‘clean beauty’ trend continues to take the personal care & cosmetics industry by storm, manufacturers of natural and value-added ingredients including passion fruit extract should be looking at a period of sustained demand, according to FMI’s analysis.
East Asia and South Asia to Present Lucrative Opportunities
Given the ongoing advancements used by cosmetics businesses, regions like South Asia and East Asia are predicted to experience a significant expansion for the passion fruit extract market. The market for passion fruit extract is also expanding in terms of volume due to the region’s substantial production of passion fruit, particularly in China.
However, due to the presence of sizable cosmetics industries in the two regions, North America and Europe are anticipated to hold a sizable proportion of the global market for passion fruit extract for personal care and cosmetics. Businesses in these areas are mostly engaged in importing passion fruits from Southeast Asia, Japan, and Latin America for use in cosmetics products.
Latin America produces a considerable amount of passion fruit, thus it is projected that cosmetics companies specialising in the extract would establish a presence there. Brazil is anticipated to produce over 70% of the world’s passion fruit. As a result of their increased market penetration in Latin America, businesses may experience a large increase in the value and volume of the passion fruit extract market for personal care and cosmetics.
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Increasing Use of Passion Fruit Seeds Oil as Ingredient Significantly Fueling Growth of the Market
The global market for passion fruit extract for personal care and cosmetics has been segmented on the basis of species, source, application, form, extraction method, nature, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa.
Passion Fruit Extract for Personal Care and Cosmetics Market: Vendor Insights
Some of the examples of key players in the global market
The global passion fruit extract for personal care and cosmetics market is significantly consolidated with some players holding prominent shares of the market. These players are offering passion fruit extract for cosmetics under the brands such as Elastocoat®, SherLastic, PERMA-CRETE® PITT-FLEX®, and TEKNOPUR, among others.
Global Passion Fruit Extract Market by Category
By Form, Global Passion Fruit Extract Market is segmented as:
By Source, Global Passion Fruit Extract Market is segmented as:
By Nature, Global Passion Fruit Extract Market is segmented as:
By Species Type, Global Passion Fruit Extract Market is segmented as:
By Application Global Passion Fruit Extract Market is segmented as:
By Extraction Method Global Passion Fruit Extract Market is segmented as:
By Region, Global Passion Fruit Extract Market is segmented as:
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 20, 2024
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