According to Future Market Insights (FMI), the global market for carnosic acid is expected to expand from US$ 92.7 million in 2024 to US$ 152.4 million by 2034. The market is expected to surge at 10.1% CAGR from 2024 to 2034.
The full potential of carnosic acid in pharmaceuticals, nutraceuticals, and other sectors highlights its versatile nature and potential health benefits. In the food industry, carnosic acid is used as a natural preservative and antioxidant to extend the shelf-life of food products and prevent lipid oxidation. Carnosic acid is further widely used in the cosmetic industry for its potential anti-aging and skin-protective properties.
Increasing demand for natural and clean-label ingredients is driving demand for carnosic acid. As consumers become more conscious about their health and well-being, there is a growing preference for products free from synthetic additives and chemicals.
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Manufacturers are responding to this demand by incorporating carnosic acid into their product formulations as a natural antioxidant and preservative. Manufacturers offer products with extended shelf life and improved stability by using carnosic acid while meeting consumers’ desire for clean-label products.
The carnosic acid market is thriving, driven by consumer demand for natural food preservatives and a health-conscious approach. E-commerce strategies further boost accessibility, marking a dynamic phase in the industry’s growth.
Key Takeaways from the Carnosic Acid Report:
- The carnosic acid market is projected to grow at a CAGR of 10.1% during the forecast period.
- The United States carnosic acid market is expected to grow at a CAGR of 5.6% by 2034.
- Based on function, the food preservatives segment is expected to hold a leading market share of 50.2% in 2024.
- The United Kingdom is projected to grow at 7.3% CAGR by 2034.
- Japan’s carnosic acid market is expected to reach US$ 3.5 million by 2034.
“The market’s leading players and anticipated future demand for carnosic acid are expected to have a significant impact on how the sector develops. Demand is projected to be driven by a number of variables through the forecast period, including changes in consumer behavior, worldwide trends, legislative changes, and technical improvements.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Leading companies in the carnosic acid market are Matrix Life Science, Fuqing King Dnarmsa Spirulina Co. Ltd., Now Foods, and Kent BioEnergy Corporation. Leading companies are expanding their product portfolios and employing advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth.
For instance,
- Matrix Life Science is a leading manufacturer and supplier of natural ingredients from 100% non-GMO sources, including rosemary extracts, phytosterols, and tocopherols (vitamin E).
- Jiangxi Global Natural Spices Co., Ltd. is well-known for being the most established business worldwide. For more than a decade, it has developed and produced natural essential oils, plant oils, and natural terpenes.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global carnosic acid market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the carnosic acid market based on function (antioxidant and food preservatives), application (food, dietary supplements, pharmaceuticals, pet foods, cosmetics/personal care), and form (powder and liquid) across several regions.
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Carnosic Acid Market Segmentation by Category
By Function:
- Antioxidant
- Food Preservatives
By Application:
- Food
- Dietary Supplements
- Pharmaceuticals
- Pet Foods
- Cosmetics/Personal Care
By Form:
- Liquid
- Powder
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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