Passion Fruit Extract Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape, Trends and Forecast 2029

 

The global passion fruit extract market for personal care and cosmetics market includes global industry analysis opportunity assessment 2022 – 2029. The report investigates the passion fruit extract market and provides critical insights for the forecast period of 2022-2029.

As per findings of the report, the global passion fruit extract market is projected to experience significant growth over the forecast period, due to multiple driving factors such as increasing use of fruit ingredient in cosmetics products and increasing consumption of anti-ageing and skin care products.

The global passion fruit extract for personal care and cosmetics market to reach a valuation of US$ 587.8 Mn in 2022, and is expected to increase at a CAGR of 8.3% during the forecast period of 2022-2029. This growth of passion fruit extract market is majorly driven by the increasing use of passion fruit extract as an ingredient by the cosmetics companies, in the view of increasing customers demand for innovative ingredient with multiple features.

East Asia and South Asia to Present Lucrative Opportunities

Regions such as South Asia and East Asia are expected to witness a rapid growth for the passion fruit extract for personal care and cosmetics market, considering continuous innovations adopted by cosmetics companies. Moreover, significant production of passion fruit in the Asia region, especially in China, is fuelling the growth of the passion fruit extract market in terms of volume.

However, North America and Europe are expected to hold a significant share in the global passion fruit extract for personal care and cosmetics market, due to presence of significant cosmetics industry in the regions. Companies in these regions are principally involved in importing the passion fruits from Latin America, Japan, and Southeast Asia for use in manufacturing cosmetics products.

Furthermore, cosmetics companies focusing on passion fruit extracts are expected to penetrate in the Latin America, as the region accounts for relatively large production of passion fruits. Brazil is expected to hold ~ 70% share in the global production of passion fruits.

Penetration in Latin America could help companies to reduce the import cost for passion fruit and thus, help them witness a significant growth in the passion fruit extract for personal care and cosmetics market in terms of both value and volume.

Increasing Use of Passion Fruit Seeds Oil as Ingredient Significantly Fuelling 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 Pass flora 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.

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