Future Market Insights recently published a market research report that highlights the growth prospects of the passion fruit extract market during the forecast period, 2019-2029. The report offers an in-depth analysis of the major factors that are expected to influence the overall dynamics of the market over the assessment period including the current trends, opportunities, restraints, market drivers, and more. As per the report, the passion fruit market is projected to have a market value of ~US$ 500 million in 2019 and the market is expected to witness an impressive compounded annual growth rate (CAGR) of ~8% during the forecast period, 2019-2029.
The predicted market growth is primarily driven by a range of factors including, growing consumer preference towards the use of natural products, high demand for color cosmetics among the millennials, and surge in the usage of passion fruit ingredients to product cosmetic products. In addition, the considerable growth in the consumption of anti-ageing and skin care products worldwide is likely to offer market players lucrative opportunities in the foreseeable future. Moreover, the ‘clean beauty’ trend coupled with significant adoption of organic agriculture are some of the other parameters that are estimated to contribute towards market growth in the upcoming years.
Growing usage of passion fruit extracts in personal care and cosmetics expected to boost market growth
The presented market study indicates that the growing demand for passion fruit extracts to develop consumer-centric cosmetic products is likely to play a critical role in the development of the passion fruit extract market in the upcoming years. According to an analyst at Future Market Insights, “The growing demand from consumers for passion fruit extracts especially for personal grooming products is a notable trend that is likely to continue over the next decade. The adoption of passion fruit extract is on the rise on account of the beneficial nutritional content of the same.” In addition, the swelling demand for natural ingredients such as passion fruit extracts in skincare products is estimated to boost the overall prospects of the passion fruit extract market through the assessment period.
East Asia estimated to present significant growth opportunities
According to the findings of the report, the passion fruit extract market in East Asia is likely to witness a considerable growth over the next decade as market players in nations including Japan, South Korea and China are leaning towards enhancing the quality of their cosmetic products by adopting natural ingredients. Further, among the aforementioned regions, China is estimated to be the leading market in terms of size, share, revenue growth and more as China is a key producer of passion fruit extracts in the region.
Passion Fruit Extract Market: Vendor Insights The report offers valuable insights pertaining to the leading players operating within the passion fruit extract market such as the market share, size, pricing analysis, growth strategies, product offerings, and more. The prominent companies involved in the market are, MakingCosmetics Inc., Passi AG, DENNICK FRUITSOURCE, LLC, Jedwards International, Inc., Natural Sourcing, LLC., and Symrise among others.
For more insights into the Market, request a sample of this report@https://www.futuremarketinsights.com/reports/sample/rep-gb-10461