Global bergamot extract demand is projected to be valued at USD 99.97 Million in 2022, forecast to grow at a CAGR of 4.14% to be valued at USD 150 Million from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 96 Million |
| Expected Market Value (2022) | USD 99.97 Million |
| Anticipated Forecast Value (2032) | USD 150 Million |
| Projected Growth Rate (2022 to 2032) | 4.14% CAGR |
Bergamot extract is obtained from a rare citrus fruit, Citrus Bergamot, which is predominantly produced in Southern Italy. Bergamot extract is rich in free radical scavengers such as flavonoids. Bergamot extract contains around five unique antioxidant polyphenolic compounds that provide various health benefits.
Bergamot extract helps to maintain normal cholesterol levels and aids blood glucose metabolism. Bergamot extract has antimicrobial properties and therefore has applications in the pharmaceutical industry. It has a subtle and fresh flavor and is therefore used as a flavoring ingredient in baked products, ice creams, etc. It also has applications in industries such as dietary supplements, beverages, nutraceuticals, cosmetics, etc.
The increase in health and fitness trends amongst consumers may serve as one of the drivers for the increase in the market of bergamot extract. The demand for dietary supplements is increasing at a very rapid rate. More than 70% of American adults take at least one type of dietary supplement. Also, consumers prefer the use of plant-based products as there might be some side effects due to the use of animal-based products, and therefore bergamot extract can be used by the manufacturers of the dietary supplement industry to develop plant-based supplements.
Statins are the drugs that are used to maintain cholesterol levels but statin is not suitable for all consumers as some might have side effects and develop statin intolerance. Bergamot extract has a statin-like mode of action which helps to regulate cholesterol levels and therefore can be used by the pharmaceutical industry to develop new drugs that can be used by consumers that have developed statin intolerance. Therefore, the use of bergamot extract to develop pharmaceutical drugs might help increase its demand.
The presence of similar products might serve as a major restraint for the bergamot extract market. There are many companies that are keeping track of the current market trends and are trying to develop plant-based products that have high nutritive value therefore the high competition in the market can affect the growth of the bergamot extract market.
The application of herbal medicinal products and supplements has increased immensely in the past two to three decades with the acceptance of bergamot extracts for some parts of primary healthcare in the region, as per the report of the national library of Medicine.
Bergamot extract is highly touted for its soothing use as an aromatherapy treatment, and in the treatment of acne & skin infections owing to its antibacterial and anti-inflammatory properties.
The espousal of herbal medicines has increased owing to the belief that it promotes healthy living in the countries like USA & Canada. The Bergamot-based oil and body lotions are gaining huge traction owing to their countless health benefits.
Bergamot extract-based medicines are used in treating high cholesterol and stress reduction. Bergamot oil is used in the cosmetic industry as a perfume fixative, and its long-lasting cologne has led to its extensive adoption in luxury shampoos across the region.
Some of the key participants present in the global demand for Bergamot Extract market include H&AD s.r.l., Jarrow Formulas, BergaMet NA, HP Ingredients, Citroglobe, Nutraceuticals International Group, etc., among others., among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.12% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Nature, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Russia, Poland, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | H&AD s.r.l.; Jarrow Formulas; BergaMet N.A; HP Ingredients; Citroglobe; Nutraceuticals International Group |
| Customization | Available Upon Request |
FMI projects the global demand of the Bergamot Extract market to expand at a 4.14% value CAGR by 2032
North America is expected to be the most opportunistic Bergamot Extract market
H&AD s.r.l., Jarrow Formulas, BergaMet NA, HP Ingredients, Citroglobe, and Nutraceuticals International Group are some key bergamot extract manufacturers
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Bergamot Extract Market
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