The global passion fruit extract market size is expected USD 634.9 million in 2023. The worldwide demand for passion fruit extracts is anticipated to rise at a CAGR of 8.4% from 2023 to 2033. The total market value is projected to reach USD 1,420.3 million by 2033.
Passion Fruit Extract Market Highlights
| Report Attribute | Details |
|---|---|
| Passion Fruit Extract Market Value (2023) | USD 634.9 million |
| Anticipated Market Value (2033) | USD 1,420.3 million |
| Projected CAGR (2023 to 2033) | 8.4% |
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The valuation of the market was USD 442.2 million in 2018. In the following years, the passion fruit extract industry also witnessed a brief period of downturn as a result of international trade restrictions in 2020 and 2021. Ultimately, by the end of 2022, the overall value of the market reached USD 587.8 million, expanding at an average 7.4% CAGR.
| Attributes | Details |
|---|---|
| Passion Fruit Extract Market Size (2018) | USD 442.2 million |
| Market Size (2022) | USD 587.8 million |
| Market CAGR (2018 to 2022) | 7.4% |
Throughout the past decade, a variety of novel flavors of fruit juices or soft drinks were introduced in the international market. So, the use of passion fruit extract is expected to witness unparalleled growth aided by the usage of passion fruit in the beverage sector.
The historical study shows 90-unit difference in BPS values seen in the market for the product in H1 2022 - Outlook over H1 2022. The overall passion fruit concentrate market, however, is anticipated to increase by 99 BPS in H1 2022 compared to H1 in 2021.
| Market Statistics | Details |
|---|---|
| H1, 2021 (A) | 8.9%% |
| H1, 2022 Projected (P) | 9.0% |
| H1, 2022 Outlook (O) | 9.9% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 90 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 99 ↑ |
Owing to the growing adoption of a wide range of plant-based products in healthcare and skincare items, the need for components derived from plants has greatly expanded in recent years. Cosmetics and skincare market players are now focused more on organic passion fruit extracts as natural skincare, hair care, and other products are selling more.
Demand in global male color cosmetics for passion fruit extracts has recently exploded in popularity and is widely used and favored by young people. Such color cosmetics are made using extracts from passion fruit seeds, which is an emerging trend in the global cosmetics industry.
Certain obstacles such as microbiological activity in cosmetic products due to the exclusion of preservatives might be a challenge for passion fruit extract manufacturers. Besides that, the higher price of passion fruits due to their local nature might limit sales of passion fruit extracts in countries with higher potential for growth.
Principal Consultant
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 24.8% |
| Canada | 1.8% |
| China | 11.3% |
| India | 5.1% |
| United Kingdom | 3.3% |
| Germany | 2.6% |
| France | 7.1% |
| Italy | 6.1% |
| Spain | 4.1% |
The consumption and use of passion fruit extracts in various cosmetics and food ingredients is quite popular in the United States. By the end of the year 2022, this regional market was figured out to have contributed roughly USD 110 million in global revenue that year.
From 2023 to 2033, the United States is anticipated to experience a below-average growth rate owing to the emergence of new market players in Latin American countries. However, in nations like Mexico and Brazil, where insomnia is getting common, the regional demand for passion fruit extracts is expected to boost exports from the United States. Likewise, Canada with only a 1.8% global market share, is also predicted to emerge as a leading importer of passion fruit extracts from the United States.
In 2022, France held 7.1% of the worldwide market share in passion fruit extracts making it the leading country in Europe. Increased cases of insomnia problems were reported in recent years in European nations surging the export demand from the country.
Also, the presence of many renowned companies for the production of passion fruit extracts in France could drive the regional market to a promising growth rate over the forecast years. For instance, Passi AG is a multinational company from France specializing in the processing and extraction of derivatives and ingredients from passion fruit.
Italy, known for its exquisite food & beverage culture, is also observed to be witnessing a surge in the adoption of passion fruit extracts these years. Moreover, the growing popularity of branded passion fruit extracts from Italian companies rendered it to create nearly USD 27 million industry for the product in 2022.
Other countries like Germany, Spain, and the United Kingdom are also catching up to this growing trend for passion fruit extracts in Europe. Particularly, the demand for passion fruit extracts in the United Kingdom is poised to witness a higher growth rate than in other countries.
Due to the elevated levels of distribution networks and more processing industries for passion fruit, China now holds a monopoly over the Asia Pacific market. Pharmaceutical companies located in Asia would spend more money creating goods that include passion flower extracts ultimately complementing the global market.
Consumer demand for passion fruit extracts in India is at an initial stage of growth in India. By the end of 2022, the regional market for passion fruit extracts generated a revenue of around USD 22.5 million.
The regional market is projected to witness a remarkable growth rate as awareness about passion fruit extracts is high in the country. Improvements in the country’s digital infrastructure and online retail channels are also anticipated to favor rapid growth in the consumption of passion fruit extracts.
| Attributes | Details |
|---|---|
| Top Form Type | Powder |
| Market Share in 2022 | 58.7% |
Passion fruit extract powder is a relatively recent addition to the market, but has gained higher traction than other forms in the overall market. It is becoming more popular in cosmetics, particularly hair care industry. Passion fruit powder is projected to continue its dominance over other form segments of oil and concentrate during the forecast years.
| Attributes | Details |
|---|---|
| Top Species Type | Passiflora flavicarpa |
| Market Share in 2022 | 53.8% |
Revenue of the global passion fruit extract market from the pharmaceutical industry is anticipated to increase significantly over the next several years. The high demand for pharmaceutical applications has created a higher demand for extracts from Passiflora flavicarpa species that are known for treating insomnia. Moreover, the extensive availability and cultivation of this species make it the dominant segment in the overall market.
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To achieve a competitive edge, passion fruit extract manufacturers are concentrating on revolutionary product innovations like treating migraines and alcoholism. Some of the leading producers of Passiflora extracts are concentrating on appropriate and attractive packaging designs to increase their consumer base and brand reputation. As a result, passion fruit extracts’ private label is expected to draw a lot of customers who want natural or cosmetics with added advantages.
Recent Developments in the Passion Fruit Extract Market Research
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data | 2018 to 2022 |
| Market Analysis | USD million or billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania and Middle East and Africa (MEA) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
| Key Segments Covered | By Form, By Source, By Nature, By Species Type, By Application, By Extraction Method, and By Region. |
| Key Companies Profiled | Making Cosmetics Inc.; Passi AG (Concentra Holding AG); Caribbean Natural Products, Inc.; DENNICK FRUITSOURCE, LLC.; NOF Corporation; Jedwards International, Inc.; Natural Sourcing, LLC.; Symrise |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The value of the passion fruit extract market is USD 634.9 million in 2023.
The global demand for passion fruit extract could grow at 8.4% CAGR through 2033.
The global market is predicted to be valued at USD 1,420.3 million by 2033.
The powder segment contributed to almost 58.7% share of the market in 2022.
The United States accounted for nearly 24.8% of revenue share in 2022.
Making Cosmetics, Passi, and DENNICK are the top brands for the product.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Powder 5.2. Oil 5.3. Concentrate 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Peel 6.2. Pulp 6.3. Seed 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 7.1. Organic 7.2. Conventional 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species Type 8.1. Passiflora Edulis 8.2. Passiflora Flavicarpa 8.3. Passiflora Ligularis 8.4. Passiflora Caerulea 8.5. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 9.1. Skincare 9.1.1. Sunscreen 9.1.2. Moisturizer, Cream & Lotion 9.1.3. Eye Revitalizers 9.1.4. Face Cleanser & Body Wash 9.2. Haircare 9.2.1. Shampoo 9.2.2. Conditioner 9.2.3. Oil & Serum 9.3. Cosmetics 9.3.1. Lip Care 9.3.2. Nail Care 9.4. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Extraction Method 10.1. Cold Process/Cold Pressed 10.2. Spray Drying 10.3. Distillation 10.4. Ultrasound Assisted Leaching Extraction (UE) 10.5. Supercritical Fluid Extraction 10.6. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. MakingCosmetics Inc. 21.2. Passi AG (Concentra Holding AG) 21.3. Caribbean Natural Products, Inc. 21.4. DENNICK FRUITSOURCE, LLC. 21.5. NOF Corporation 21.6. Jedwards International, Inc. 21.7. Natural Sourcing, LLC. 21.8. Symrise 22. Assumptions & Acronyms Used 23. Research Methodology
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Passion Fruit Extract Market
