The market for passion fruit extract is estimated at USD 587.8 million in 2022 and is projected to reach USD 1,028.6 million by 2029, at a CAGR of 6.8% from 2014 to 2021. The share of the passion fruit extract market in its parent market (cosmetic ingredient market) is approximately 11%-13%
The increasing usage of passion fruit extract as a cosmetic ingredient by cosmetics businesses, in response to rising consumer demand for novel ingredients with numerous benefits, is the primary factor driving the market expansion for passion fruit extract.
Passion fruit extract for personal care and cosmetics market research study by Future Market Insights contains global industry analysis from 2014 to 2021 and opportunity estimate from 2022 to 2029. The paper examines the market for passion fruit extract and offers significant predictions for the period between 2022 and 2029.
According to the report’s findings, the market for passion fruit extract is expected to develop significantly over the forecast period due to a number of factors, including rising fruit component use in cosmetics goods and rising consumer demand for anti-aging and skin care products.
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As the ‘clean beauty’ trend continues to take the personal care & cosmetics industry by storm, manufacturers of natural and value-added ingredients including passion fruit extract should be looking at a period of sustained demand, according to FMI’s analysis.
East Asia and South Asia to Present Lucrative Opportunities
Given the ongoing advancements used by cosmetics businesses, regions like South Asia and East Asia are predicted to experience a significant expansion for the passion fruit extract market. The market for passion fruit extract is also expanding in terms of volume due to the region’s substantial production of passion fruit, particularly in China.
However, due to the presence of sizable cosmetics industries in the two regions, North America and Europe are anticipated to hold a sizable proportion of the global market for passion fruit extract for personal care and cosmetics. Businesses in these areas are mostly engaged in importing passion fruits from Southeast Asia, Japan, and Latin America for use in cosmetics products.
Latin America produces a considerable amount of passion fruit, thus it is projected that cosmetics companies specialising in the extract would establish a presence there. Brazil is anticipated to produce over 70% of the world’s passion fruit. As a result of their increased market penetration in Latin America, businesses may experience a large increase in the value and volume of the passion fruit extract market for personal care and cosmetics.
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Increasing Use of Passion Fruit Seeds Oil as Ingredient Significantly Fueling Growth of the Market
The global market for passion fruit extract for personal care and cosmetics has been segmented on the basis of species, source, application, form, extraction method, nature, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa.
- By species, the Passiflora flavicarpa is expected to hold prominent value shares in the passion fruit extract for personal care and cosmetics market. This has majorly resulted from high production and great source of vitamin C and its significant use in the anti-ageing cosmetics.
- On the basis of form, the powder segment is expected to hold a significant share in the passion fruit extract for cosmetics market.
- On the basis of application, the skin care segment is expected to hold a significant market value share in the global passion fruit extract for personal care and cosmetics market due to increasing customer’s awareness towards skin care products.
Passion Fruit Extract for Personal Care and Cosmetics Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global passion fruit extract market for personal care and cosmetics market. Some of the examples of key players in the global market are MakingCosmetics Inc. Passi AG (Concentra Holding AG), Caribbean Natural Products, Inc., Dennick Fruitsource, LLC, NOF Corporation, Jedwards International, Inc., Natural Sourcing, LLC, Symrise, BERACA, Bio-Botanica, Inc., Amazionia Bio, Extrair Óleos Naturais, and others.
The global passion fruit extract for personal care and cosmetics market is significantly consolidated with some players holding prominent shares of the market. These players are offering passion fruit extract for cosmetics under the brands such as Elastocoat®, SherLastic, PERMA-CRETE® PITT-FLEX®, and TEKNOPUR, among others.
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Global Passion Fruit Extract Market by Category
By Form, Global Passion Fruit Extract Market is segmented as:
- Powder
- Oil
- Concentrate
By Source, Global Passion Fruit Extract Market is segmented as:
- Peel
- Pulp
- Seed
By Nature, Global Passion Fruit Extract Market is segmented as:
- Organic Passion Fruit Extract
- Conventional Passion Fruit Extract
By Species Type, Global Passion Fruit Extract Market is segmented as:
- Passiflora Edulis
- Passiflora Flavicarpa
- Passiflora Ligularis
- Passiflora Caerulea
- Others
By Application Global Passion Fruit Extract Market is segmented as:
- Skincare
- Sunscreen
- Moisturizer, Cream & Lotion
- Eye Revilitizers
- Face Cleanser & Body Wash
- Haircare
- Shampoo
- Conditioner
- Oil & Serum
- Cosmetics
- Lip Care
- Nail Care
- Others
By Extraction Method Global Passion Fruit Extract Market is segmented as:
- Cold Process/Cold Pressed
- Spray Drying
- Distillation
- Ultrasound Assisted Leaching Extraction (UE)
- Supercritical Fluid Extraction
- Others
By Region, Global Passion Fruit Extract Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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