A recent market study published by Future Market Insights on the grape seed extract market offers global industry analysis for 2016-2020 & opportunity assessment for 2021–2031. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, and current growth parameters of the grape seed extract market, the growth prospects of the market are obtained with maximum precision.
Due to increasing pet humanization, a growing number of pet owners are treating their animals as family members. Therefore, they give importance to high quality, healthy pet food which contain natural ingredients. According to a recent Future Market Insights (FMI) report, increasing the awareness about the benefits of natural and organic ingredients are proving beneficial to the grape seed extract market, reaching a valuation of US$ 39.2 Mn in 2021. Increasing awareness regarding health benefits of supplements for pets and consumers preference for pet foods that include beat pulp, grape seed extract, quillaja extract, tomato extract, and other natural ingredients will drive sales. Owing to the anti-oxidant and anti-inflammatory benefits of grape seed extract, demand in the pet food industry has grown.
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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for grape seed extract. The report tracks the global sales of grape seed extract in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the food and beverage industry in general, and grape seed extract in particular.
Key Takeaways from Grape Seed Extract Market Study
- Grape seed extract market is estimated to account for 5.7% CAGR in the forecast period with large-scale applications in the animal feed sector.
- The U.S. grape seed extract market is estimated to be valued at US$ 16.6 Mn in the year 2021, driven by pet food applications.
- Conventional nature of grape seed extract market accounts for more than 74% of the market owing to easy access to raw materials and lower costs of production.
- France and Germany are key markets for grape seed extract in the EU, owing to relatively mature markets for raw materials.
- Norway and Bulgaria are nascent albeit high potential markets for grape seed extract, exhibiting CAGRs of more than 8% in the Europe market.
- India and China will dominate the Asia Pacific market for grape seed extract, accounting for more than 15% and 18% of the regional market share respectively.
Some of the key players operating in grape seed extract market are Purina., JM Smucker Co Louis Dreyfus Company B.V., Mars Incorporated, Betagro Public Company Limited, Affinity Petcare SA, Nutro Products Inc, Fromm Family Foods LLC., Dave’s Pet Food, Diana-pet food, Burgess Group PLC, Champion Petfoods, Hill’s Pet Nutrition, Evanger’s Dog & Cat Food Company, Inc, Lafeber Co., 4Legs Pet Food Company, Boulder Dog Food Company, L.L.C., Real Pet Food Company., Diamond Pet Foods and others.
Companies operating in the market are either adopting expansion strategies or are focusing on new product launches to gain competitive edge. For instance:
- In 2020, The Alvinesa Natural Ingredients S.A invested 5 million euros to construct a new manufacturing plant for the production of high value-added grape derived natural ingredients such as polyphenols and anthocyanin.
- In 2021, Vetri Science launched four new formulas for dogs named Calm & Confident, Strength & Stability, Energize & Thrive, and Clear & Bright. Clear & Bright is targeted for eye health, which includes antioxidants, grape seed extracts, and bilberry extract for eye function.
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Key Questions Answered in the Report
- Which is the most lucrative market for grape seed extract in pet food application market?
North America currently leads the global market for grape seed extract in pet food applications. Sales in North America is expected to account for nearly 40% of total demand registered in the global grape seed extract market between 2021 and 2031. - Which is the preferred nature of grape seed extract?
The conventional nature for grape seed extract in pet food applications is expected to account for more than three-quarters of the global market. - Which is the Key Type of Grape Seed in Pet Food Application?
The grape seed extract is likely to be increasingly used in the production of dry food for pets. - Which are some of the leading companies offering grape seed extract in pet food application products?
Some of the leading companies offering are Purina., JM Smucker Co Louis Dreyfus Company B.V., Mars Incorporated, Betagro Public Company Limited, Affinity Petcare SA, Nutro Products Inc, Fromm Family Foods LLC., Dave’s Pet Food, Diana-pet food, Burgess Group PLC, Champion Petfoods, Hill’s Pet Nutrition, Evanger’s Dog & Cat Food Company, Inc, Lafeber Co., 4Legs Pet Food Company, Boulder Dog Food Company, L.L.C., Real Pet Food Company., Diamond Pet Foods and others.