In today’s world of modernization and corporate culture, individuals have become health conscious and are focusing to take care of their diet. People are curious about what they consume and try to reduce calories from their food as much as possible. Owing to busy schedules, individuals often sacrifice their diets. To balance their diets, people have started to include dietary supplements and functional foods in their diets. Bilberry is a fruit native to Europe, having multiple health benefits. It has been used from ancient times as medicine for various diseases and disorders such as diarrhea, cataracts, etc. Bilberry is widely known for its efficacy in improving vision. Bilberry is more often consumed as a fruit as well as in extract form. Bilberry extract has applications in different industries such as pharmaceuticals, food and beverage industries, dietary supplements, etc. bilberry possess different chemicals such as tannins, flavonoids, etc. that are responsible for various health benefits.
By region, Europe is the largest market for Bilberry Extract, followed by North America. Europe seems to be the most lucrative region due to which bilberry extract market is expected to grow at a significant rate during the forecast period.
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Bilberry Extract Market: Segmentation
Bilberry Extract market can be segmented by form, end-use applications, distribution channel, and region.
By form, Bilberry Extract market can be segmented into liquid and powder. Powder segment is expected to expand at relatively high CAGR over the forecast period.
Bilberry Extract market can be further segmented by end-use application such as pharmaceuticals, food and beverages, nutraceuticals and others. Food and beverage are further sub-segmented into jams, pies, syrups, beverages, and cobblers. Nutraceuticals segment is further sub-segmented into functional foods and dietary supplements.
By distribution channel, bilberry extract market can be segmented into direct and retail sales. Direct sales refer to direct selling of extract to other industries as an ingredient. Retail sales are further segmented into drug stores, specialty stores, online retail, and other retailing formats.
By region, Bilberry Extract market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Bilberry Extract market: Drivers, Restraints, and Trends
Due to change in the market trend, people are more interested in natural products which will play an important role in fueling the growth of present Bilberry Extract market. Increasing awareness of functional foods and dietary supplements is expected to drive the market over the forecast period. Awareness about associated health benefits of bilberry extract as a dietary supplement, food ingredient, etc. is also expected to drive the sales. Widely known benefits of bilberry extract in improving eye vision is also expected to be a driving force over the forecast period.
Usage of bilberry extract along with other medications could be harmful, which could be considered as a restraint. Long term excessive use of bilberry extract could lead to severe weight loss, which could restraint the market growth and hamper the overall sales. Consumption of healthy food products and dietary supplement is trending across the globe.
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Bilberry Extract Market: Regional Outlook
Depending on the geographic regions, global Bilberry Extract market is segmented into five key regions: North America, Latin America, Europe, APAC, and MEA.
Regarding consumption, Europe holds the largest share of Bilberry Extract market followed by North America which also possesses a large Bilberry Extract market. Latin America comes after North America regarding consumption.
Asia Pacific Bilberry Extract market is expected to grow at the significant rate regarding consumption during the forecast period because people have started to opt for healthy products and dietary supplements. The Middle East and Africa is expected to grow over the forecast period as disposable income is increasing in the region.
Population around the globe is getting aware slowly about the health benefits of Bilberry Extract and dietary supplements.
Bilberry Extract Market: Key Players
Some of the prominent manufacturers of Bilberry Extract are Now foods, Natrol, Source Naturals, Inc.,
Bio Botanica, Inc., Life Extension, Athelas Nutraceuticals, Nature’s way, Swanson and other regional players.