The cactus fruit is a flatly rounded fruit which grows on the edge of the cactus leaf. There are many types of cactus fruits, but the prickly pear and the dragon fruit are most commercially consumed. As the name suggests, the prickly pear is a red colored fruit with thorns. The production costs of cactus fruit and cactus fruit extracts involve the de-thorning of cactus and weeding them. The cactus fruit extract originated in Latin America but owing to its tremendous market potential, North America and Europe have also entered the cactus fruit extract market.
Cactus Fruit Extract Market: Segmentation
The cactus fruit extract market is segmented on the basis of type, form and end use.
On the basis of type, the cactus fruit extract market is segmented as prickly pear fruit and dragon fruit. The use of prickly pear fruit is most common making up most of the market share.
On the basis of form, the cactus fruit extract market is segmented as powder and liquid. It is mostly consumed in the form of powder. The liquid form includes oil and aqueous extracts.
On the basis of end use, the cactus fruit extract market is segmented as personal care & cosmetics, dietary supplements, pharmaceuticals and food & beverage. In the personal care industry, the cactus fruit extract is used in skincare products as it is known to have a large amount of anti-oxidants. The use of cactus fruit extract is also well known in the cure of chronic diseases and used as a hangover remedy. The food and beverage segment is further segmented as confectionary, salads and juices. The confectionary segment includes jams, jelly, candies, etc.
Cactus Fruit Extract Market: Drivers, Restraints, and Trends
In recent years, consumers have been focusing more nutraceuticals and food with high functional properties. The cactus fruit extract market has seen growth due to the functional properties of the fruit and its extract. As some consumers are averse to the taste of the cactus fruit, the extract proves to be a valid alternative for the utilization of its high functional properties. The growth of the functional food market is also indirectly boosting the growth of the cactus fruit extract market. The availability of raw materials and the climatic condition for agriculture may also affect the growth of the cactus fruit extract market. Different regions face different challenges during the production of the crop and hence, there is a wide variation in the regional prices of the cactus fruit extract. The increased cost of production due to storage and refrigeration may negatively affect the growth of the cactus fruit extract market.
Cactus Fruit Extract Market: Regional Outlook
In North America, the growth of the cactus fruit extract market is mainly attributed to its consumption as a gourmet dietary supplement and it is also available as a food product in supermarkets and hypermarkets. In Latin America, mainly in Mexico and Argentina, from where the fruit has originated, the cactus fruit extract market is in the saturated phase. People here widely consume food products like jellies, soups, pickles and cheese products prepared from cactus fruit extract. In countries like Australia and Africa, the conservation of the cactus fruit itself has become a critical issue, making the cactus fruit extract expensive in these regions. Lack of consumer awareness in the Asia Pacific and the Middle East is also retarding the growth of the cactus fruit extract market here. Educational marketing regarding the health benefits of the cactus fruit extract and expansion of retail outlets is a good approach for overcoming this hurdle and boost the growth of the cactus fruit extract market.
Cactus Fruit Extract Market: Key Players
- The Opuntia Company
- Xi’an Pincredit Bio-tech Co.,Ltd
- Herbal Bio Solutions
- IBR LTD.
- Xi'an Victar Bio-Tech Corp.
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