CranberrySeed Oil: Market Outlook
Thecranberry fruit is a superfood native to North America. The fruit is a popularand a favourite among fruit flavour and juices but also stands out in terms ofits seed extract applications. The cranberry seed oil is extracted by themethod of cold pressing, thereby preventing any kind nutrient degradation. Itis a unique seed oil that contains essential vitamins and antioxidants thathelps in personal care and health care applications.
The growthrate of cranberryseed oil market is expected to be at least 3% more than the overallgrowth rate of the cold-pressed seed oil market. The increasing demand foranti-ageing creams, hair health solutions, and moisturizers is expected topropel the growth of the global cranberry seed oil market.
Premiumization,Marketing Strategies, and Key Benefits are the Main Driving Factors
To beginwith the price point, cranberry seed oils are already expensive. It is theconsumers’ behaviour to prefer premium products, especially in the case ofhealth care products, as they come with a safety guarantee. Market playersshould consider implementing transparency and clean label practices to preventconsumers from buying other counterfeit alternatives. This would not onlysafeguard the authentic market players’ businesses but would also expand them.
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Anotherstrategy the market players should consider investing in is the organicapproach. Roughly about 2% of the global cranberry produce is organic. The factthat there is an unwavering demand for organic food products irrespective ofthe high price states that manufacturers of cranberry seed oil must trace backto the value chain and call out the framers and cultivators to grow organicberries.
Marketingthe cranberry seed oil as an exotic ingredient in skincare products usingbroadcast media and digital space in regions excluding the Americas wouldimpact the consumers’ buying nature. The cranberry flavours and juices have analready established market in the East and thus, would act as a supportingfactor in promoting the use of cranberry seed oil.
Thecranberry seed oil contains a high concentration of essential fatty acids andphytosterols that are responsible for maintaining long-term moisturisation,softness and plumpness of the skin. It is also a great source of tocopherols,tocotrienols, and vitamin E. Its unique balance of omega 3, 6, and 9 essentialfatty acids give it an excellent antioxidant property for skin absorbency. Thevitamins present in the oil help in improving elasticity and firmness of theskin.
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Thenatural SPF found in the oil helps in reducing age spots and pigmentation.Cranberry seed oil also treats skin irritation and inflammation. The benzoicacid along with the omega fatty acids present in the oil is the perfectingredient to treat eczema, psoriasis and rosacea. The non-greasy oil containshigh levels of vitamin E for nourishing scalp and hair and preventing dandruff.
GlobalCranberry Seed Oil: Key Players
Some ofthe key players manufacturing cranberry seed oil are as follows – Connoils,Natures Natural India, Queen B, All Organic Treasures GmbH, I&W Research,Botanic Innovations, Nature in Bottle, India Aroma Oils, Kshrey, ParasPerfumers, Sri Venkatesh Aromas, and Nutrativa Global.
Opportunities for Global Cranberry Seed Oil Market Participants:
TheEuropean region is expected to be the fastest-growing and most attractivemarket for sales. The European market displays a tremendous businessopportunity for market players. The North American region dominates the marketshare by volume, accounting for more than 60% of the total market share. TheLatin American market is well versed with the product and account for thesecond-largest export of cranberry seeds. The Latin American market is expectedto display a fair business opportunity for local market players. The MiddleEast and African region are expected to project the second-fastest growth rate,offering a potential business opportunity to key market players.
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COVID-19 Impact:
The deadlyCOVID-19 pandemic had stalled the global production of consumer goods in thefirst quarter of 2020. Although the lockdown relaxed in several countries, themanufacturers were struggling to streamline their production. Moreover, theglobal supply chain was adversely disrupted, stalling trade of many productsfor a brief period. The pandemic is expected to hinder the production andsupply chain operations of cranberry seed oil, with an estimated dip of 10% forthe year 2020. The recovery of the market post the COVID-19 pandemic is likelyto continue with a cyclic growth trajectory from 2015 to 2030.
