The Grape Seed Extract Market is estimated to be valued at US$ 219.7 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Grape seed extract is derived from the seeds of grapes. The extract contains beneficial plant compounds like procyanidins, proanthocyanidins, phenolic acids and flavonoids that act as antioxidants and provide anti-inflammatory properties. It is used as a dietary supplement in various products due to its numerous health benefits. Grape seed extract helps improve cardiovascular health, reduces the risk of cancer and supports healthy brain function.
Market Key Trends:
One of the major trends in the grape seed extract market is its increasing demand from the nutraceutical industry. The growing health awareness among consumers has fueled the demand for nutraceuticals and dietary supplements. Grape seed extract find applications in formulating supplements for heart health, eye health, joint health and more. It is also used in skin care products for its antioxidant properties. Various clinical studies have validated the antioxidant and anti-aging effects of grape seed extract on the skin. This growing acceptance of its benefits across personal care and nutraceutical sectors is expected to drive the grape seed extract market during the forecast period.
- Threat of new entrants: The grape seed extract market has moderate threat of new entrants due to the requirement of large capital investments and established distribution channels by existing players.
- Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes like green tea extract. However, grape seed extract has significant health benefits attracting buyers.
- Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitutes and established supply chains of extract manufacturers.
- Threat of new substitutes: The threat from substitutes is moderate as there are alternatives available like green tea extract though grape seed extract offers unique health advantages.
- Competitive rivalry: High as major players compete on the basis of innovation, quality, and price.
- Strength: High antioxidant and anti-inflammatory properties of grape seed extract offering various health advantages.
- Weakness: Fluctuating raw material prices can impact production costs. Limited applications due to strong taste and color of grape seed extract.
- Opportunity: Growing consumer preference for herbal supplements and natural ingredients in cosmetics and food & beverages.
- Threats: Stringent regulations pertaining to usage of grape seed extract in different applications. Intense competition from existing market players.
The global grape seed extract market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand for natural antioxidants and anti-aging ingredients in cosmetics and nutraceuticals industries.
Regionally, North America dominated the global grape seed extract market in 2023, accounting for over 35% of the global market share. Europe was the second-largest market, wherein increasing consumption of dietary supplements in countries like Germany, France, and U.K. is boosting the regional market. Asia Pacific is expected to be the fastest-growing regional market for grape seed extract during the forecast period, owing to growing health consciousness and rising disposable incomes in populous countries like China and India.
Key players operating in the grape seed extract market are Botanic Innovations LLC, Polyphenolics, NATUREX, Nexira, Augusto Bellinvia srl, Hunan NutraMax Inc., Jianhe Biotech Co., Ltd., Ambe NS Agro Products Pvt. Ltd., Midas Pharma GmbH, and Bhooratna Agri Processors. Major players are focusing on new product launches, capacity expansions and strategic partnerships to strengthen their market position in different regions.