Black currant extract has a number of health advantages, including benefits for the immune system, metabolism, treating skin conditions, and anti-aging. Moreover, it promotes digestion, treats arthritis and anaemia, and aids in the repair of bone mineral levels. Additionally, it is utilised in cereals, porridges, protein shakes, smoothies, baking, sauces, shakes, cocktails, beverages, dressings, jellies, jams, flavoured ice cream, and muesli. Consequently, the nutritional value, applications, and benefits of black currant extract have fueled the expansion of the global market. The market for black currant extract has expanded as a result of consumers' growing knowledge of the benefits of using natural ingredients.
RECESSION IMPACT
The impact of a recession on the market for black currant extract would vary depending on a number of variables, such as the depth of the recession, consumer purchasing power, and the level of demand for black currant extract goods. Consumers may reduce their spending on non-essential purchases during a recession, including dietary supplements and health products like black currant extract. This could result in less consumer demand for goods containing black currant extract, which would decrease sales and revenues for businesses that make and distribute these goods. In a recession, there may be further market chances for black currant extract, nevertheless. Black currant extract supplements may be used by consumers looking for less expensive alternatives to pricey medical procedures in order to maintain their health and wellbeing.
DRIVING FACTORS
Growing Demand from Natural and Healthy Food Products to Drive Market Growth
The market for black currant extract is primarily driven by the rising demand for natural and nutritious food products. The effects of consumers' food choices on their health and the environment are worrying them more and more. They seek out foods with few processing steps, natural, whole ingredients, free of synthetic additives, preservatives, and other chemicals. Black currant extract is a natural component that can be added to food and beverage items to improve their nutritional profiles. Antioxidants, vitamin C, and other nutrients that are good for human health are abundant in it. Customers who are looking for ways to improve their health and wellbeing through food choices may find these health benefits to be very alluring. Consumers like black currant extract since it is a natural ingredient in addition to the health advantages. In comparison to synthetic components, natural substances are thought to be safer, healthier, and more environmentally friendly.
RESTRAINING FACTORS
Limited Availability of Black Currant to Restrict Market Growth
One of the major factors limiting the market for black currant extract is its limited availability. Black currants are primarily grown in Europe, Asia, and a few locations in North America, though they are not widely grown elsewhere in the world. Black currant extract's supply may be impacted by its limited accessibility, which could lead to increased costs and more difficult access to the supplement. Black currants grow well in particular environments, which contributes to their rarity. There are only a few places where black currants can be grown since they favour cooler areas with mild summers. The availability of fresh berries for extract processing can also be affected by the fact that black currants have a very limited harvesting season, which is normally from June to August.
SEGMENTATION
By Type
Based on type, the black currant extract market is segmented into powder, capsule and other. The powder category dominated the market in 2022. The market for black currant extract is expanding as consumers become more aware of the benefits of eating regular, healthy foods like yoghurt, shakes and smoothies, macaroons, truffles, chia-seed pudding, and handmade ice cream. Consuming black currant powder products may have a number of health advantages, including antimicrobial, immune system-boosting, and antitoxic properties. This is one of the main factors driving the growth of the black currant extract market.
By Application
Based on application, the black currant extract market is segmented into food and drinks, cosmetic and other. The food and drinks category dominated the market in 2022. The growth of the black currant extract market is being driven by the proliferation in demand for various food solicitations in the food sector to improve the colour and evaluation of the food product. Food items made using black currant extract include truffles, pastries used as decorations, muesli, and granola bars. This type of food has a high nutritional content and several health advantages, such as strengthening the immune system. Moreover, black currant fruits are unimportant and dark blackberries have a distinct flavour to draw customers.
REGIONAL INSIGHTS
Asia Pacific is projected to hold the largest share of the black currant extract market over the forecast period. In terms of the food business, this region has a larger consumer base. The market for black currant extract saw a higher consumer base in nations like China, India, and Japan. These nations' growing health consciousness provides a lucrative growth opportunity for the black currant extract market. The market for black currant extract is expanding to new heights due to consumer demand for nutrient-dense foods. On the other hand, Europe black currant extract market is anticipated to grow significantly. Germany, France, and Denmark have the largest production bases for black currant extract. Europe is expected to adopt black currant extract quickly because to the high regard it enjoys among consumers as a source of nutritious profits.
LIST OF KEY COMPANIES PROFILED:
- Nutra Green
- Specnova
- Herb Green Health Biotech
- Ningbo J&S Botanics
- Swanson
- Tokiwa Phytochemical
- Waitaki Biosciences
- YOUBIO
- Undersun
- Xi'an Greena Biotech
- Sunnycare
- NATIVE EXTRACTS
- Lemon Concentrate
- BCNZ
- In April 2021, the biggest B2B fruit processor in the world, Iprona, has unveiled CurrantCraft, a European black currant extract for use in brain-health goods.
| Attributes | Details |
| Market Size in 2022 | USD 190.5 Million |
| Market Forecast in 2030 | USD 341.2 Million |
| Compound Annual Growth Rate | 10.20 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Application and By Geography |
| By Type |
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| By Application |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
