Acerola is a type of shrub or tree that produces small fruits that are similar to cherries and are red when ripe. It is well known for its rich vitamin C content and has been widely used for the treatment of vitamin C deficiency.
Introduction:
The global acerola extract market is expected to witness an increase in growth during the forecasted period of 2024-2029 due to factors such as the increasing awareness of the benefits of acerola coupled with the increasing organic food and beverage industry expansion.
Market Drivers:
The various benefits of acerola include strengthening the immune system, lowering histamine levels in the blood and relieving symptoms of allergies, normalizing elevated blood sugar levels, lowering the homocysteine level and protecting the cardiovascular system, preventing cell aging, preventing the formation of dangerous nitrosamines, detoxifies the body and fights cancer cells. Therefore, the increasing number of health-conscious consumers in the market will drive the acerola extract market growth as well, influenced by the increased awareness of the acerola cherry in the market.
Furthermore, the increasing adoption of organic agriculture will be expected to drive the increase in the production of fresh produce, which includes acerola cherry as well. The increase in organic products in the market will also drive the acerola extract products growth in the market since acerola is considered an organic food product. As per the FiBL, the global sales of organic food and beverage products displayed an increase to reach an estimated 125 billion euros in 2021. This increase will provide the necessary boost for the global acerola extract market growth during the forecasted period.
Key Players:
Regional Analysis:
The North American region is expected to witness a significant increase in growth in the acerola market during the forecasted period. The factors that contribute to the acerola extract market growth are the growing food and beverage industry, coupled with the increasing growth of organic agriculture in the region. Acerola extract is known to be procured from the acerola cherry fruit, which is widely known for its wide range of benefits and rich nutrient and mineral sources. The acerola extract is known to be used as a vitamin C supplement in various food products such as bakery and meat products, further enhancing the taste and nutrients of the food products. As per Gitnux.org, the number of people who consume snacks, nutrition, or performance bars in America accounted for an estimated 93.3 people in 2020. Furthermore, the food and beverage industry is expected to increase at an annual rate of 1.4% between 2021 to 2026. This increase in the growth of the food and beverage industry will drive the regional acerola extract market growth during the forecast period.
Additionally, the increasing growth of organic agriculture is expected to increase the acerola extract market growth. The number of health-conscious consumers in the market is expected to increase, driving the growth in demand for naturally produced food and beverage products and ingredients, which include acerola and its extract. Due to the wide range of benefits provided by the acerola extract, the increase in awareness of the acerola extract will also be expected to increase during the forecasted period. As per the United States Department of Agriculture, certified organic cropland acres have displayed an increase of 79% during the period of 2011-2021, which is an increase reaching 3.6 million acres in 2021. It was also stated that organic retail sales were estimated to be more than $52 billion in 2021, which is an estimated 5.5% of all food retail sales. It was also stated that the farms and ranches in the US displayed sales accounting for $11 billion in organic products alone in 2021. The increasing significance and sales of organic products in the market will provide the necessary fuel for the regional acerola extract market growth during the forecasted period.
Market Developments:
Segmentation: