Market Trends

Sea Buckthorn Industry Surges with Booming Demand for Functional Foods and Cosmetics

NEWARK, Del., May 13, 2024 (PRNewswire) – The sea buckthorn market, renowned for its health-enhancing properties and widespread usage in a myriad of products such as juices, nutritional supplements, and skincare goods, stands on the cusp of a tremendous uplift in value. Forecasted to burgeon to an impressive USD 393.1 million by 2024, the market is set to capitalize on its widely recognized healthy attributes, which have catapulted the product into a staple within numerous Asian and European households.

Rapid advancements and consumer inclination towards functional foods have provided a propitious environment for the sea buckthorn market's growth. With its inherent versatility allowing formulation into an array of consumables like juices, shakes, and even pies, sea buckthorn is poised to experience a compound annual growth rate (CAGR) of 10.1% from 2024 to 2034.

By 2034, expert predictions place the market valuation at an astounding US$ 1,025 million. Beyond the food arena, sea buckthorn's integration into cosmetic formulations is injecting considerable value to the industry. Amidst the cosmetic sector's pivot towards incorporating organic ingredients, sea buckthorn stands out as an exemplary choice favored by consumers for natural skincare.

Health and Taste Combined: Functional Foods Spearheading Market Growth

The functional prowess of sea buckthorn doesn't halt at foodstuff; its incorporation into dietary supplements is witnessing a significant swell. With factors such as an aging populace and an upsurge in sports participation driving the dietary supplements demand, sea buckthorn’s inclusion in these products is anticipated to expand parallelly.

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According to industry experts, the sector isn't without its challenges; sporadic supply chain issues concerning raw material availability has surfaced. Nonetheless, the overall outlook remains optimistic. The potential use of sea buckthorn in crafting alcoholic beverages is replete with possibilities, offering a new horizon for astute investors.

Key Insights from the Exploding Sea Buckthorn Market Scene

Here’s a closer look at what the future holds for the sea buckthorn market:

• In 2024, the anticipation for the market to hit US$ 393.1 million is backed by an increasing dominance of juice products, projected to seize a 34% market share.
• The dietary supplements segment is expected to claim a 28% market share in the same year.
• South Korea emerges as a high-potential market with an estimated 12.3% CAGR.
• China and Japan are set to be lucrative markets, with predicted CAGRs of 10.8% and 11.8%, respectively.
• The United Kingdom also showcases favorable growth, with an expected 11.4% CAGR over the forecast period.

Diverse and Competitive: The Landscape of The Sea Buckthorn Market

A competitive overview of the vibrant sea buckthorn market reveals a dynamic and diverse field where entities of all scales find fertile ground for success. Strategic partnerships, especially those with firms in the end-user industries, are commonplace, signifying a collaborative approach prevalent in the sector. Industry stalwarts such as SeabuckWonders, Wellsash, W.S. Badger Company Inc., and Natures Aid Ltd. stand out as key players pioneering the market.

Innovation and Research: Recent Developments Propelling the Market

• July 2023 marked the introduction of Mud Organics' '30 Day' product in the United States, an Australian innovation incorporating sea buckthorn.
• In 2024, a study released by Canada's Memorial University detailed the efficacy of sea buckthorn in combating obesity, adding to the ever-expanding corpus of scientific validation.

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About the Insightful Author, Nandini Roy Choudhury

Nandini Roy Choudhury, a Client Partner for Food & Beverages at Future Market Insights, Inc., boasts over seven years of management consulting experience. Highly skilled in analytical frameworks, she brings forth strategic thought leadership, adeptly supporting industry leaders in identifying less conventional opportunities and addressing challenges.

With corporate acumen in growth strategies, sales, and marketing efficacy, as well as expertise managing mergers, acquisitions, and cost cutting, Nandini has proved her mettle time and again. Her educational background, with an MBA in Finance from MIT School of Business and an Electrical Engineering degree from Nagpur University, India, provide a strong foundation for her professional pursuits.

Nandini has been a prolific voice in the food ingredients, health solutions, and pharmaceutical sectors, often advocating process automation as a significant contributor to manufacturing revolutions. Her insights and publications have been featured in esteemed outlets like Beverage Industry, Bloomberg, and Wine Industry Advisor.

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FMI's Extensive Research in Food and Beverages: Enabling Informed Decisions

FMI's expertise extends into deep research in various segments of the food and beverages domain, offering in-depth reports including:

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SOURCE: Future Market Insights

As the sea buckthorn market sails the high tides of the health and wellness trend, its journey is further buoyed by the winds of innovation and strategic endeavors. Its versatility, health benefits, and applications in various industrial domains signify an unprecedented era of growth and prosperity. Only time will illuminate the heights the sea buckthorn market will reach, as businesses and consumers alike continue to embrace this multifaceted marvel.