A report investigates the passion fruit extract market and provides critical insights for the forecast period of 2019-2029. As per findings of the report, the global passion fruit extract market is projected to experience significant growth over the forecast period, due to multiple driving factors such as increasing use of fruit ingredient in cosmetics products and increasing consumption of anti-ageing and skin care products.
The global passion fruit extract for personal care and cosmetics market was valued at ~ US$ 440 Mn in 2018, and is expected to increase at a CAGR of ~ 8% during the forecast period of 2019-2029. This growth of passion fruit extract market is majorly driven by the increasing use of passion fruit extract as an ingredient by the cosmetics companies, in the view of increasing customers demand for innovative ingredient with multiple features.
As the ‘clean beauty’ trend continues to take the personal care & cosmetics industry by storm, manufacturers of natural and value-added ingredients including passion fruit extract should be looking at a period of sustained demand, according to Report’s analysis.
East Asia and South Asia to Present Lucrative Opportunities
Regions such as South Asia and East Asia are expected to witness a rapid growth for the passion fruit extract for personal care and cosmetics market, considering continuous innovations adopted by cosmetics companies. Moreover, significant production of passion fruit in the Asia region, especially in China, is fueling the growth of the passion fruit extract market in terms of volume.
However, North America and Europe are expected to hold a significant share in the global passion fruit extract for personal care and cosmetics market, due to presence of significant cosmetics industry in the regions. Companies in these regions are principally involved in importing the passion fruits from Latin America, Japan, and Southeast Asia for use in manufacturing cosmetics products.
Furthermore, cosmetics companies focusing on passion fruit extracts are expected to penetrate in the Latin America, as the region accounts for relatively large production of passion fruits. Brazil is expected to hold ~ 70% share in the global production of passion fruits. Penetration in Latin America could help companies to reduce the import cost for passion fruit and thus, help them witness a significant growth in the passion fruit extract for personal care and cosmetics market in terms of both value and volume.
Increasing Use of Passion Fruit Seeds Oil as Ingredient Significantly Fueling Growth of the Market
The global market for passion fruit extract for personal care and cosmetics has been segmented on the basis of species, source, application, form, extraction method, nature, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa.
- By species, the Passiflora flavicarpa is expected to hold prominent value shares in the passion fruit extract for personal care and cosmetics market. This has majorly resulted from high production and great source of vitamin C and its significant use in the anti-ageing cosmetics.
- On the basis of form, the powder segment is expected to hold a significant share in the passion fruit extract for cosmetics market.
- On the basis of application, the skin care segment is expected to hold a significant market value share in the global passion fruit extract for personal care and cosmetics market due to increasing customer’s awareness towards skin care products.
Passion Fruit Extract for Personal Care and Cosmetics Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global passion fruit extract market for personal care and cosmetics market. Some of the examples of key players in the global market are MakingCosmetics Inc. Passi AG (Concentra Holding AG), Caribbean Natural Products, Inc., Dennick Fruitsource, LLC, NOF Corporation, Jedwards International, Inc., Natural Sourcing, LLC, Symrise, BERACA, Bio-Botanica, Inc., Amazionia Bio, Extrair Óleos Naturais, and others.
The global passion fruit extract for personal care and cosmetics market is significantly consolidated with some players holding prominent shares of the market. These players are offering passion fruit extract for cosmetics under the brands such as Elastocoat®, SherLastic, PERMA-CRETE® PITT-FLEX®, and TEKNOPUR, among others.
These insights are based on a report on Passion Fruit Extract Market by Future Market Insights.