Growing Utilization of Elderberry Extract for Medicinal Purposes Will Drive Product Sales: Persistence Market Research Study
Published On : Oct 07, 2022
Global consumption of elderberry extract is currently pegged at 15,730 tons and is expected to increase at a volume CAGR of 5.7% to reach 27,256 tons by 2032. The market expanded significantly in recent years and this trend is expected to continue during the forecast period of 2022-2032 as well.
Elderberry is a multipurpose fruit widely used across the world. Historically, it has been utilized by herbalists as a tonic and exhibits various medicinal benefits. This super fruit includes anthocyanins, a subsection of flavonoids, which may have immunomodulation and possibly anti-inflammatory effects that inhibit oxidative stress and ease flu-like symptoms. Moreover, in-depth research and various studies show that elderberry extract can be used to treat viral respiratory infections, including common cold and influenza. Also, the elderberry fruit or flower possesses high antioxidant properties, which is beneficial in treating pain and can be effective against cancer, constipation, and other ailments.
Moreover, since the outbreak of the COVID pandemic, consumers are seeking natural ingredients that have a positive effect on the immune system. Manufacturers of elderberry extract have witnessed a tremendous shortage of raw materials due to significant demand for elderberry products in the market. They are increasing their production through advanced technology for medicinal purposes.
Key Takeaways from Market Study
- Demand for elderberry extract in North America is expected to increase at a volume CAGR of 6.5% during the forecast period (2022-2032).
- South Asia and East Asia account for market value shares of 11.1% and 15.1%, respectively.
- Use of elderberry extract in the pharmaceutical industry is anticipated to reach US$ 113.7 Mn by 2032.
- Based on distribution channel, sales of elderberry extract in the business to consumer segment is expected to increase at a value CAGR of 5.4% and hold a market share of around 14.8% in 2022.
- In the Middle East & Africa, GCC and South Africa have high potential growth and are expected to register value CAGRs of 3.7% and 4.2%, respectively, through 2032.
“Dietary supplements remain the major target application area for elderberry extract manufacturers. Due to the pandemic, demand for dietary supplements significantly increased across the world. A majority of this super fruit extract is incorporated into a variety of health and herbal supplements with a plethora of label claims that are adopted for branding and marketing,” says a Persistence Market Research analyst.
Key manufacturers engaged in the production of elderberry extract are investing in product launches and increasing their footprints across the world through technological advancements. Companies are also emphasizing increasing the application of their products across various industries and enhancing its effectiveness with major focus on high convenience for customers.
- In June 2019, INS Farms launched the Elder Pure brand, its elderberry line of versatile raw materials. It comprises five distinct ingredients, including black elderberry extract powder, elderberry liquid extracts syrup, elderberry seed oil, whole fruit elderberry powder, and organic elderberry juice powder.
- IPRONA is strategizing on driving its operational efficiency with the support of exclusive technology and its global logistics network facility. The company is also focusing on optimizing its business process, which is sustained by its experienced workforce and integrated facilities.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global elderberry extract market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights on the basis of nature (organic, conventional), form (powder, liquid), end use (functional food & beverages, dietary supplements, pharmaceuticals, cosmetics & personal care), and distribution channel (business to business, business to consumer), across seven major regions of the world.
For additional insights on how the growth of the elderberry extract market will shape up over the decade, write to email@example.com
About Food & Beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Elderberry Extract Market
Market Study on Elderberry Extract: Substantial Use in Dietary Supplements to Be Witnessed
Market Study on Elderberry Extract: Substantial Use in Dietary Supplements to Be WitnessedRequest TOC