The sea buckthorn market is driven by its growing
popularity as a functional food and cosmetic ingredient. Consumers
are drawn to its health properties and its use in various products
like juices, supplements, and skincare. The market is expected to
see significant growth in Asia,
particularly in South Korea (12.3%
CAGR), China (10.8% CAGR), and
Japan (11.8% CAGR).
NEWARK, Del., May 13, 2024 /PRNewswire/ -- The sea buckthorn
market is expected to be valued at USD
393.1 million in 2024. Sea buckthorn's healthy
properties are not a secret and have seen the product become a
household name in households, especially in Asia and Europe. Thus, the market has a historical
precedent to grow upon.
The market is set to register a CAGR of 10.1% over the
period from 2024 to 2034. As functional foods become more
commonplace, the sea buckthorn market benefits. The ability of sea
buckthorn to be blended and molded into juices, shakes, and pies,
among others, is lending the product significant growth
prospects.
By 2034, the market is set to acquire a valuation of
US$ 1,025 million. Apart from
food, the use of the product in cosmetic products is set to add
considerable value to the market. As the cosmetic industry switches
towards organic ingredients, sea buckthorn is a prominent example
of the type of ingredient being preferred by consumers.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19607
As part of its functionality in food, sea buckthorn is also
finding notable application in dietary supplements. As dietary
supplements become more common, due to a combination of factors
like the aging population and more people taking up sports, sea
buckthorn's use in them is supposed to grow.
"While the market faces some obstacles, like improper supply
of raw material on occasion, the overall prospects of it are
positive. Use of sea buckthorn for the making of alcoholic drinks
is filled to the brim with potential for investors," says
Nandini Roy Choudhury (Client
Partner for Food & Beverages at Future Market Insights,
Inc.).
Key Takeaways from the Sea Buckthorn Market
- The sea buckthorn market is projected to be valued at
US$ 393.1 million in 2024.
- Sea buckthorn predominantly comes in the form of juice. Juice
is expected to account for 34% of the market share in 2024.
- Dietary supplement tops the application segment. For 2024,
dietary supplements are anticipated to account for 28% of the
market share.
- South Korea is a promising
country for the market. For the forecast period, the CAGR for
South Korea is estimated to be
12.3%.
- China and Japan are pegged to be lucrative countries for
the market. The CAGR for China and
Japan over the forecast period is
predicted to be 10.8% and 11.8% respectively.
- The market is expected to register a CAGR of 11.4% in the
United Kingdom over the forecast
period.
Competition Analysis of the Sea Buckthorn
Market
The market is diverse, as companies of all scales have room to
thrive. Partnerships are common in the sector, especially with
companies in end user industries. Some of the prominent companies
in the market include SeabuckWonders, Wellsash, W.S. Badger Company
Inc., and Natures Aid Ltd.
Recent Developments in the Sea Buckthorn
Market
- In July 2023, the 30 Day product
was launched by Australia-based
Mud Organics in the United States.
The product contains sea buckthorn
- In 2024, a study was published by researchers from Memorial University, Canada, expounding on the benefits of sea
buckthorn in fighting obesity.
Purchase now and gain full access to
the Sea Buckthorn Industry report, featuring comprehensive Market
Forecast, Company Share Analysis, Competition Intelligence, DROT
Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
About the Author:
Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.) has 7+ years of management consulting
experience. She advises industry leaders and explores off-the-eye
opportunities and challenges. She puts processes and operating
models in place to support their business objectives.
She has exceptional analytical skills and often brings thought
leadership to the table.
Nandini has vast functional expertise in key niches, including
but not limited to food ingredients, nutrition & health
solutions, animal nutrition, and marine nutrients. She is also
well-versed in the pharmaceuticals, biotechnology, retail, and
chemical sectors, where she advises market participants to develop
methodologies and strategies that deliver results. Another feather
to her cap manifests in the form of process automation. She is
vocal about bringing automation to the fore to bring a
360-degrees-round revolution in manufacturing sector
Her core expertise lies in corporate growth strategy, sales and
marketing effectiveness, acquisitions and post-merger integration
and cost reduction. Nandini has an MBA in Finance from MIT School
of Business. She also holds a Bachelor's Degree in Electrical
Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in
journals including Beverage Industry, Bloomberg, and Wine Industry
Advisor.
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