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.
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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.
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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
- Swanson
- Nexira
- Herbal Bio Solutions
- IBR LTD.
- Xi'an Victar Bio-Tech Corp.
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