Fruit Extracts Market by Source (Citrus Fruits, Apples, Pineapples, Grapes, Pears, Berries), Form (Powder, Liquid), Application (Beverages, Food, Nutraceuticals, Cosmetics) - Global Forecast to 2031

The Fruit Extracts Market was valued at $18.13 billion in 2023. This market is expected to reach $31.11 billion by 2031, from an estimated $19.34 billion in 2024, at a CAGR of 7% during the forecast period 2024-2031.

Fruit Extracts Market Size & Forecast

The growth of this market is driven by the increasing health and wellness trend, growing demand for natural and plant-based ingredients, rising applications of fruit extracts in cosmetic products, and increasing awareness regarding the benefits of natural fruit extracts over synthetic products. Additionally, emerging economies and increasing demand for clean-label products offer significant growth opportunities for fruit extract manufacturers. However, the preference for artificial flavors and high production costs restrain the market’s growth.

Fruit Extracts Market: Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players over the past three to four years. The key players profiled in the fruit extracts market are Kerry Group plc (Ireland), Givaudan SA (Switzerland), Symrise AG (Germany), DSM-Firmenich AG (Switzerland), Archer-Daniels-Midland Company (U.S.), Döhler GmbH (Germany), International Flavors & Fragrances, Inc. (U.S.), New Directions Aromatics (Canada), Synergy Flavors, Inc. (U.S.), and Ingredion, Incorporated (U.S.).

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Increasing Health and Wellness Trend Drives the Growth of Fruit Extracts Market

Well-being is becoming a global movement as consumers seek to ensure healthy lives for as long as possible— particularly as average life spans continue to rise. Diets and lifestyles have changed rapidly due to industrialization, urbanization, economic development, and globalization over the last decade, with a significant impact on the health and nutritional status of populations globally.

Standards of living have improved, food availability has expanded and become more diversified, and access to services has increased. Significant negative consequences have also been observed in terms of inappropriate dietary patterns, decreased physical activity, and a corresponding increase in diet-related chronic diseases, especially among people with low incomes. This has increased people’s focus on healthy living and boosted the demand for innovative H&W products and services. According to JD Health International Inc. and TMO Group (China), the health supplements market in China grew from USD 36.2 billion in 2020 to USD 44.4 billion in 2022. Four macroenvironmental trends are contributing to an increased focus on health and wellness: the aging global population, rising chronic disease incidence, a rise in self-care, treatment, and prevention, and increasingly educated and connected consumers.

Currently, the top three most appealing product claims or descriptions are ‘natural/all-natural,’ ‘no artificial ingredients,’ and ‘low or reduced fat/sugar/salt.’ Strong consumer demand and the desire for operational and distribution efficiencies are driving interest in food with simple and easy-to-understand ingredients. In addition, ‘all-natural’ and ‘clean label’ trends in the food and beverage market are boosting the demand for natural ingredients such as fruit extracts across food industries for the production of natural and clean-label products. Thus, changing food preferences and increasing health consciousness among consumers are driving the growth of the fruit extracts market.

Key Findings in the Global Fruit Extracts Market Study:

In 2024, the Citrus Fruits Segment is Expected to Account for the Largest Share of the Fruit Extracts Market

Based on source, the fruit extracts market is segmented into citrus fruits, apples, pineapples, grapes, pears, berries, and other sources. In 2024, the citrus fruits segment is expected to account for the largest share of the fruit extracts market. The large market share of this segment is attributed to unique flavor profiles, nutritional benefits, and versatile applications in various industries. Citrus fruits, such as oranges, lemons, limes, grapefruits, and mandarins, are known for their refreshing and vibrant flavors. They are rich in essential vitamins, particularly vitamin C, which is known for its antioxidant properties and immune system support. The perceived health benefits associated with citrus fruits contribute to their popularity in the wellness and functional food markets.

However, the berries segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to changing consumer preferences and growing awareness about the health benefits of berries. Berries are rich in antioxidants and possess anti-inflammatory properties. They contribute to boosting the immune system, aiding in weight management, and supporting skin health.

Liquid Segment is Projected to Witness Significant Growth in the Market During 2024–2031

Based on form, the fruit extracts market is segmented into powder and liquid. In 2024, the powder segment is expected to account for the larger share of the fruit extracts market. The large market share of this segment is attributed to the benefits offered by powdered fruit extracts over liquid fruit extracts, such as better homogeneity, ease of use, transportation, and storage, better stability, wide availability, better shelf-life, and effective product formulation.

However, the liquid segment is expected to register a higher CAGR during the forecast period. The growth of this segment is attributed to the increasing demand for liquid fruit extracts from beverage manufacturers, growing consumer demand for innovative beverages, and rising demand for ready-to-use fruit extracts. In addition, liquid fruit extracts offer numerous benefits for manufacturers, including eliminating the need for equipment investment for dissolving, filtering, and pasteurizations, homogeneous blends with minimal segregation, and improving the overall visual aspect.

In 2024, the Beverages Segment is Expected to Account for the Largest Share of the Fruit Extracts Market

Based on application, the fruit extracts market is segmented into beverages, food, nutraceuticals, cosmetics, and other applications. In 2024, the beverages segment is expected to account for the largest share of the fruit extracts market. The large market share of this segment is attributed to high demand for healthy and functional beverages, high adoption of fruit extracts in beverages, strong growth in the beverage industry, increasing innovative product development, and increased promotional and advertisement strategies about clean labels by beverage manufacturers.

However, the cosmetics segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to rising consumer expenditure on cosmetics, increasing consumer preference for natural ingredient-based beauty products, and increasing awareness about the therapeutic properties of fruits.

North America: The Dominating Regional Market

Based on geography, in 2024, North America is expected to account for the largest share of the fruit extracts market. North America’s major market share is attributed to an increase in consumer preference for innovation and healthy food products, growing health and wellness concerns, increased spending on cosmetic products, and a well-established food and beverage industry.

However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the presence of a large number of food and beverage manufacturers, strong growth in the food and beverage industry, easy and abundant availability of raw materials, and increasing awareness about a healthy lifestyle. Furthermore, rapid urbanization, increasing disposable incomes, and changing lifestyles in countries such as China and India further support the growth of this market in the region.

Fruit Extracts Market Report Summary:

Key questions answered in the report: