The passion fruit extract market in recent years has seen a flurry of activity, as a response to the growing consumer preference for natural and plant based products and the demand for different dietary requirements of people around the world. With dietary patterns and inclinations shifting towards organic, natural and ‘clean’, the local players in the passion fruit extract are likely to rise to the occasion to meet this demand.
The growth of this highly fragmented passion fruit extract market, due to growing demand globally, is expected to expand at an above-average rate of 8% during the forecast period, will the end of 2029.
Clean Beauty: An Underlying Trend
In recent years, consumers have been increasingly inclined towards ‘Clean Products’ for both consumption and personal care. This has been due to the rising consumer awareness for natural products that are touted to have a better nutritional profile, which is particularly beneficial in the cosmetics market in general. And as this trend of ‘Clean Beauty’ becomes an important aspect that is shaping the evolution of the global cosmetics market and consequently the passion fruit extract market is also expected to witness significant growth in recent years. Passion fruit extract is being increasingly used in anti-ageing and skin care products, driving the growth of the global market.
“Organic” is another buzzword that is shaping the evolution of the global passion fruit extract market. Increasing consumer preference for organic ingredients for various cosmetics products, due to awareness of the negative impact on chemicals on skin, manufacturers are also looking to cater to this preference as well, with ecologically sound products and processes as well. This is opening up several opportunities within the landscape for manufacturer to capitalize on this trend for better business prospects.
Regional Markets within the Global Landscape
The global market for passion fruit extract is being propelled by the flurry of activity from various end use industries, which has led to several lucrative prospects for players. As the scenario currently stands, the regional markets in developed countries, especially Europe, which likely to hold a significant share of the market share in the foreseeable future. This can also be attributed to the increasing propensity for natural ingredients in the region. However, there is demand for health and wellness products in the Asia Markets, which is also expected to contribute to the growth of the passion fruit extract market in the region during the course of the forecast period.
Recent Trends and Future Prospects
The global market for passion fruit extract is rather consolidated, players in which are increasingly looking for other applications of pulse fruit extractions, to gain the competitive edge in the market. The mounting demand for natural, organic products for overall health and wellness is set to drive the growth of the market in the foreseeable future. According to this study by FMI, the future of passion fruit extract market is set to lie in hair and skin care applications, with manufacturers investing progressively to unearth other benefits of passion fruit extract to widen their product portfolio.
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