Agriculture

Sea Buckthorn Market Report Cover

Sea Buckthorn Market

Sea Buckthorn Market Report Cover

Sea Buckthorn Market Size, Share, Growth & Industry Analysis, By Form (Juice, Oil, Powder, Others.), By Application (Dietary Supplement, Pharmaceutical, Cosmetics & Personal Care, Food & Beverage, Others.) and Regional Analysis, 2024-2031

Author : Saket A.


Pages : 120

Base Year : 2023

Release : February 2024

Report ID: KR506


Sea Buckthorn Market Size

The Global Sea Buckthorn Market was valued at USD 786.2 million in 2023 and is projected to reach USD 1,669.1 million by 2031, growing at a CAGR of 10.08% from 2024 to 2031. The sea buckthorn shrub, known for its vibrant orange berries, is gaining substantial popularity globally. Driven by an upsurge in consumer demand for natural and functional products, the industry is signifying its burgeoning potential. In the scope of work, the report includes products offered by companies such as HiPP, TEREZIA COMPANY s.r.o., SEABUCKWONDERS, SIBU SEA BERRY, A. G. Groups, Lubera Edibles, Organic India Pvt. Ltd., Aromatics Canada Inc., Weleda, ERBOLOGY and others.

At the forefront of this growth lies the food and beverage industry, where sea buckthorn's unique flavor profile and claimed health benefits are gaining popularity. From tart juices and refreshing smoothies to innovative jams and even chocolates, the versatility of this fruit is fueling experimentation and product diversification. Notably, both Asia and North America are exhibiting remarkable growth, complementing the established industry in Europe, indicating a burgeoning global market trend.

Beyond its culinary appeal, sea buckthorn's oil, which is rich in antioxidants and vitamins, is dominating the cosmetics industry. Praised for its potential to promote skin health, address signs of aging, and alleviate dryness, it is increasingly being incorporated into a wide range of skincare products. Research studies suggesting its efficacy in addressing specific skin conditions further fuel its adoption, solidifying its position as a promising natural ingredient.

Analyst’s Review

The sea buckthorn market is poised for significant growth in the coming years. With its wide range of health benefits and increasing consumer awareness, the demand for sea buckthorn products is on the rise. The sea buckthorn market is being driven by factors such as the growing popularity of natural and organic products, the rise in health-conscious consumers, and the increasing use of sea buckthorn in various industries including cosmetics, pharmaceuticals, and food & beverages. Additionally, the market is witnessing a surge in research and development activities to explore the untapped potential of sea buckthorn. Overall, the future looks promising for the sea buckthorn market.

Market Definition

The sea buckthorn market encompasses a diverse array of products tailored to meet the multifaceted needs of consumers across various industries. Defined by its vibrant orange berries, sea buckthorn offers a spectrum of forms, including juice, oil, powder, and other derivatives, each uniquely positioned to cater to distinct preferences and applications. Within this dynamic landscape, segmentation by form enables stakeholders to navigate the market landscape effectively, leveraging the versatility of sea buckthorn across different product formats.

The sea buckthorn market centers on the worldwide trade and production of sea buckthorn berries and their processed forms. Used in food, cosmetics, and medicine for their versatility, the sea buckthorn market encompasses various segments like oil, juice, supplements, and skincare products. Geographically, Asia-Pacific holds the leading position, followed by Europe and North America. This market continues to evolve, driven by growing consumer interest in natural products and scientific exploration of sea buckthorn's potential health benefits.

Market Dynamics

A noticeable uptick in demand from consumers who prioritize products derived from natural sources, rich in nutrients, and minimally processed is among the primary factors driving the growth of the sea buckthorn market. Sea buckthorn, renowned for its abundant vitamin and antioxidant content, seamlessly aligns with this preference, leading to its integration into a diverse range of food, beverage, and cosmetic applications. This exhibit sustained momentum, underlining the importance of highlighting sea buckthorn's natural origins and transparent sourcing practices to secure success in the sea buckthorn market.

Moreover, ongoing scientific research is fostering innovation within the sea buckthorn industry. New discoveries revealing its positive effects on skin health, cardiovascular function, and digestive wellness are inspiring the development of novel products across various sectors. Effective collaboration among researchers, producers, and manufacturers is pivotal for translating these insights into commercially viable applications. However, navigating the intricacies of scientific research and adhering to ethical standards remain essential considerations.

The growing demand from environmentally conscious consumers underscores the significance of sustainability within the sea buckthorn market. Its resilience in harsh environments and capacity for soil regeneration resonate deeply with this demographic. Emphasizing its eco-friendly attributes through sustainable sourcing, packaging, and production practices can attract environmentally conscious consumers and differentiate brands. Nevertheless, obtaining robust sustainability certifications and ensuring transparency is imperative to avoid accusations of greenwashing.

Segmentation Analysis

The global sea buckthorn market is segmented based on form, application, and geography.

By Form

Based on form, the market is categorized into juice, oil, powder, and others. The juice segment generated the highest revenue of USD 298.5 million in 2023 and is estimated to continue its dominance over the forecast period. This dominance is supported by several factors, including consumer preferences for convenient and ready-to-consume products, along with the perception of juice as a healthful beverage choice. Furthermore, the juice segment benefits from the widespread availability of sea buckthorn juice in retail channels, catering to both individual consumers and the food service industry.

However, the oil segment is anticipated to experience the fastest growth of 11.77% between 2024 and 2031. This growth can be attributed to the increasing recognition of sea buckthorn oil for its diverse applications in skincare, dietary supplements, and functional foods. With growing consumer awareness of its potent nutritional and therapeutic properties, sea buckthorn oil is poised to experience high demand, especially in the cosmetics and nutraceutical sectors, thereby driving its growth over the forecast period.

By Application

Based on application, the market is further divided into dietary supplement, pharmaceutical, cosmetics & personal care, food and beverages, and others. Pharmaceutical applications accounted for the largest share of 38.61% in 2023 and are estimated to grow at a CAGR of 9.54% over 2024-2031. The pharmaceutical segment's significant share and steady growth is mainly fueled by the increasing incorporation of sea buckthorn extracts and derivatives in pharmaceutical formulations, driven by their demonstrated therapeutic properties. Sea buckthorn is recognized for its potential health benefits, including anti-inflammatory, antioxidant, and immune-boosting effects, making it a valuable ingredient in pharmaceutical products targeting various health conditions.

However, food & beverage applications are anticipated to experience the fastest CAGR of 11.90% through the projected period. As consumer preferences shift toward natural and functional ingredients, the inclusion of sea buckthorn in food and beverage products is increasing, driven by its nutritional profile and unique flavor profile. The versatility of sea buckthorn allows for its incorporation into a wide range of food and beverage categories, including juices, jams, sauces, and functional beverages, thereby fueling its growth in the market.

Sea Buckthorn Market Regional Analysis

Based on region, the global sea buckthorn market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Sea Buckthorn Market Size & Share, By Region, 2024-2031

The Asia-Pacific Sea Buckthorn Market share stood around 55.28% in 2023 in the global market, with a valuation of USD 434.5 million. The primary factor contributing to this considerable growth is the presence of countries with significant traditional usage of sea buckthorn in various applications, including traditional medicine, culinary practices, and skincare. This cultural familiarity and historical usage contribute to the robust demand for sea buckthorn products in the region. Furthermore, the Asia-Pacific region boasts favorable climatic conditions conducive to sea buckthorn cultivation, particularly in countries such as China, India, and Russia.

The availability of ample arable land and suitable agro-climatic zones supports robust production, ensuring a steady supply of sea buckthorn raw materials for domestic consumption and export. Moreover, increasing consumer awareness of the health benefits associated with sea buckthorn, coupled with rising disposable incomes, and changing dietary preferences towards natural and functional foods, further drive market growth in the Asia-Pacific region, solidifying its position as a key contributor to the global sea buckthorn market.

Europe experienced steady growth in recent years and is anticipated to account for a valuation of USD 250.5 million by 2031, growing at a CAGR of 10.75%. Europe's favorable regulatory environment, coupled with stringent quality standards, ensures the availability of high-quality sea buckthorn products, thereby fostering consumer trust and driving market growth. Additionally, Europe's growing health-conscious population and increasing demand for natural and functional ingredients in dietary supplements, cosmetics, and food products contribute to the sustained expansion of the sea buckthorn market in the region.

Moreover, the region's thriving cosmetics and personal care industry presents potential opportunities for the utilization of sea buckthorn extracts in premium skincare formulations, capitalizing on their antioxidant and anti-inflammatory properties. Furthermore, Europe's strategic geographical location facilitates trade and export opportunities, allowing European sea buckthorn suppliers to tap into global markets, further supporting the region's growth trajectory in the global market.

Competitive Landscape

The global sea buckthorn market study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Manufacturers are adopting a range of strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, to strengthen their market standing.

List of Key Companies in Sea Buckthorn Market

  • HiPP
  • TEREZIA COMPANY s.r.o.
  • SEABUCKWONDERS
  • SIBU SEA BERRY
  • A. G. Groups
  • Lubera Edibles
  • Organic India Pvt. Ltd.
  • Aromatics Canada Inc.
  • Weleda
  • ERBOLOGY

The Global Sea Buckthorn Market is Segmented as:

By Form

  • Juice
  • Oil
  • Powder
  • Others

By Application

  • Dietary Supplement
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Food & Beverage
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America.
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CUSTOMIZATION OFFERED
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 1,669.1 million by 2031, growing at a CAGR of 10.08% from 2023 to 2031.
The global market was valued at USD 786.1 million in 2023.
The major driving factor for the market growth is rising consumer interest in natural wellness solutions, increasing scientific research, and innovative product development.
Top manufacturers of sea buckthorn are HiPP, TEREZIA COMPANY s.r.o., SEABUCKWONDERS, SIBU SEA BERRY, A. G. Groups, Lubera Edibles, Organic India Pvt. Ltd., Aromatics Canada Inc., Weleda, ERBOLOGY, and others
North America is the fastest growing region with the CAGR of 12.45% in the forecasted period (2023-2031) with the market value forecasted to reach at USD 374.1 million in 2031.
By application, pharmaceutical will hold the maximum share in the sea buckthorn market with the revenue value of USD 619.6 million in 2031.
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