Report Ocean introduces a fresh report examining the ‘Global Bergamot Extract Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Global Bergamot Extract Market is valued at approximately USD 103.91 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2022-2029.
Bergamot Extract is a citrus fruit and is native to southern Italy. Citrus bergamia or Citrus aurantium are the scientific names for bergamot. Bergamot essential oil is made by cold compression rather than steam distillation, in contrast to other essential oils. Bergamot oil is frequently found in high-end shampoos, soaps, and cleansers due to its broad use as a scent fixative in the cosmetic industry. Bergamot Extract is considered rich in plant-based antioxidants such as flavonoids neoeriocitrin, neohesperidin, and naringin. Moreover, it is used for controlling high levels of cholesterol in the blood and other medical conditions including anxiety, mental alertness, and joint pain, among others. The increasing demand for essential oils and growing prevalence of lifestyle diseases as well as rising cosmetics & personal care industry are key factors accelerating the market growth.
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The surging demand for essential oils in wellness & healthcare is contributing to the growth of the Global Bergamot Extract Market. For instance, according to Statista – in 2020, the global market demand for essential oils was estimated at around 267.6 Kiloton, and the amount is projected to grow to 404.2 Kiloton by 2025. Moreover, the rising expansion of cosmetics & personal care industry is also driving the market growth. For instance, according to Statista – In 2018, the global cosmetics market was valued at USD 507.8 billion, and as per estimation, the market would grow to USD 758.4 billion by 2025. Also, growing adoption of aromatherapy and rising emergence of e-commerce platforms would create a lucrative growth prospectus for the market over the forecast period. However, the high extraction cost associated with Bergamot extract stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bergamot Extract Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the high cultivation of Bergamot fruit and increasing growth of the cosmetics & personal care industry in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of pharmaceutical industry, increasing demand for healthcare supplements and rising trend of medical tourism in the region.
Major market players included in this report are:
- NutriONN Inc.
- Swanson Health Inc.
- Sunergetic Inc.
- Lorann Oils
- Double Wood Supplements
- Twinlab Consolidated Corporation
- Amoretti Inc.
- Jarrow Formulas, Inc
- Advanced Orthomolecular Research (AOR)
- Mountain Rose Herbs, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Nature
Organic
Conventional
By End-User
Foods & Beverages
Pharmaceuticals
Cosmetics
Personal Care Industry
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
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