Chokeberry Extract to Experience Rapid Growth
Growing consumer focus on nutrition and adoption of natural & plant based products, has controlled the food and beverages market. With the advent of alternative medicine in the global market, multiple herbal and fruit extracts have been gaining traction.
One such product gaining demand in the food and beverages sector is the chokeberry extract. The demand for chokeberry extract has shown significant growth during the recent years and is expected to observe similar upward trajectory during the forecast period.
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Chokeberry Extract Market: Dynamics
Increasing acceptance of the traditional and alternative medicines, has been boosting demand of multiple plant based ingredients like chokeberry extract. Demand for chokeberry extract is highly dominated by the food and beverages end use.
With applications of chokeberry extract in multiple products like ice cream, tea, juices, soft spreads, and wine products, the demand for chokeberry extract is expected to show significant growth during the forecast period.
Chokeberry Extract Market: Segmentation
The Chokeberry Extract market can be segmented on the basis of product type, nature and application.
On the basis of product type, the Chokeberry Extract market can be segmented into:
- Black chokeberry
- Purple chokeberry
- Red chokeberry
On the basis of nature, the Chokeberry Extract market can be segmented into:
- Organic
- Conventional
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On the basis of application, the Chokeberry Extract market can be segmented into:
- Food and Beverages
- Nutraceuticals
Chokeberry Extract Market: Regional Overview
North America accounts for highest share in the terms of demand for chokeberry extract. The increasing demand for nutritional and plant based products in the region is one of the key factors for this demand. North America being native place of origin for chokeberries, demand for the product is expected to remain high in the region.
The application of chokeberry extract in neutraceuticals is expected to lead to new avenues for exploration. North America is expected to account for highest share in the global market in terms of demand, while Europe is expected to be the emerging market for chokeberry extract during the forecast period.
Chokeberry Extract Market: Key Players
Chokeberry extract market is fragmented with multiple players working the market. The market has multiple domestic players that work in medicinal and plant extracts market. Some of the top players in the market are Bellbrook Berry Farm, Microstructure Sp., Sawmill Hollow Family Farm, Mae’s Health and Wellness, LLC., Cedar Gardens LLC, B.T. Aronia Farm, OPG Medic, P.P.H.U. Bio Juice, and Tecofood Sp.
The market is expected to remain fragmented over the coming years, as introduction of multiple new small and medium players is expected. Companies working in the market can highly benefit from investments in trade and ingredient shows. Companies can also benefit from collaborating with end use industries and distributors.
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