Raspberry ketones market may show significant growth over the projected timeframe pertaining to the growing rate of diseases and increasing health awareness among individuals. Rising technological advancement has urged manufacturers to utilize plant based extracts for their applications in pharmaceuticals, cosmetics, food additives and in perfumery. Fat burning and weight loss applications of raspberry ketones may foster the market growth.
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Raspberry ketones are the chemicals extracted from several fruits and vegetables such as kiwi, grapes, apples, berries and pine trees. These products are the natural antioxidants and a major source of essential nutrients including vitamin A and vitamin C and are widely utilized for treating hair loss, obesity and other health diseases.
Growing demand for natural dietary supplements for weight reduction and treating several health-related issue such as obesity, controlling body’s cholesterol and blood pressure levels is likely to accelerate the raspberry ketones market size. In 2018, over two-thirds of the adult population in the U.S. consumed dietary supplements which indicates huge opportunities for the market to grow. Raspberry ketones strengthen the metabolism and increase the body temperature which enhances the fat burning properties. Increasing popularity of fruits as a major source of nutrients along with growing consumer focus towards healthy lifestyle is likely to drive the raspberry ketones market growth.
Fruit extracts owing to their antioxidant properties and ability to increase the fragrance and sweetening effect are widely used as food additives. Raspberry ketones control body’s cholesterol, blood pressure levels and help relieve inflammation. Growing problem of obesity among consumers owing to unhealthy food habits along with increasing demand for natural ingredients in food products is likely to boost the raspberry ketones market growth.
Raspberry ingredients owing to their suitable fragrance and skin enhancing capabilities are served in various cosmetic applications such as hair and skin care, perfumes as well as in fragrances. Raspberry ketones enhance skin elasticity and thickness while reduce skin roughness. Growth of global cosmetics market increased from 4%in 2016 to 4.9%in 2017 shows favorable circumstances for the market to growth. These products also contain green tea extracts and acai which offer strong antioxidant support and improve UV protection for skin, thereby driving the product demand.
North America driven by Canada, Mexico, and the U.S. raspberry ketones market size should witness substantial growth in the projected timespan owing to the major growth in dietary supplements industry in the region. In 2018, around 30% of adults in the U.S. were found to be obese. Raspberry ketones when consumed in the form of supplements drastically improve the fat breakdown in the body, suppress appetite and enhance body’s resting metabolism. Increasing consumer focus towards health and fitness owing to rising prevalence of severe health diseases may induce regional product demand.
Europe, led by France, Italy, UK, and Germany raspberry ketones market size may witness significant growth during forecasted period. Denmark’s per capita organic food consumption in 2017 was over USD 315 which indicates ample opportunities for the market to grow. These products owing to their ability to impart a fresh and fruity odor is used as natural flavor components in the food industry. Growing demand for premium quality, healthy food along with rising disposable income has improved the purchasing power of consumers thereby driving the regional growth.
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Asia Pacific raspberry ketones market demand led by China, India and Japan may witness remarkable growth pertaining to the growing demand for natural, skin friendly ingredients in the cosmetic industry. China revenue from personal care segment amounts to USD 30.4 billion in 2019. Raspberry ketones in skin care products helps in keeping the skin hydrated and decrease the signs of aging which is the key driver of the market. Growing demand for high quality, chemical free ingredients in personal grooming products along with increasing consumer focus towards organic and natural beauty products may foster regional product demand.
Global raspberry ketones market share is consolidated with a presence of very few significant market players. Companies such as Fuerst Day Lawson, Watson International, UNION PHARMPRO, ORCHID CHEMICAL SUPPLIES and DNP International are key market players operating in the industry. Major market players are increasingly investing in research & development activities to improve their product portfolio and identify new application industries for the market growth.