The global Rose Extract Market is witnessing remarkable growth, driven by the increasing demand for organic food and cosmetics, the rising awareness of health benefits, and the expanding food and beverage industries. The market size for rose extract was valued at USD 379.2 million in 2021 and is projected to grow at a CAGR of 5.8 percent during the forecast period.
Health Benefits and Diverse Applications Fuel Growth
Rose extract finds widespread use in the food and beverage industry as a thickening agent, stabilizer, and additive, among other functions. It offers better stability than its liquid form despite its poor solubility properties. The growing demand for organic food and cosmetics, coupled with an increase in skin conditions and allergies, is creating opportunities for companies in this industry. Liquid rose extract, in particular, is in high demand for use in various products, including moisturizers and creams. The high content of vitamin C in rose extract, even surpassing oranges by over 50%, is a significant factor driving its popularity in the food and beverage industry.
Challenges and Opportunities
Despite its many benefits, the rose extract market faces challenges due to the availability of various low-priced substitute products. However, rising consumer awareness of the therapeutic advantages of rose extracts is expected to counter this competition. The growing trend of incorporating organic rose extract in various final goods, driven by the demand for organic products and government initiatives, presents a significant opportunity for market expansion.
COVID-19 Impact and Recovery
The COVID-19 pandemic disrupted supply chains and presented challenges for manufacturers in the rose extract market due to lockdowns and changing consumer preferences. However, the market is expected to recover as economies rebound and disposable income increases. The inclination toward organic and healthy habits, along with ongoing research and development efforts by producers, is anticipated to support the markets recovery and growth.
Drivers of Market Growth
- Rising Consumer Demand for Health-Promoting Food Ingredients: Growing awareness of the health benefits of high-quality food is driving changes in eating patterns and lifestyles. Consumers are seeking food products that encourage weight loss, lower the risk of heart disease, and offer other health benefits.
- Inclusion of Organic Rose Extract in Final Goods: The demand for organically processed rose products is rising due to the health benefits associated with organic products. Government initiatives and certifications are further promoting the market for organic food and cosmetic products.
Restraints and Challenges
- Abundance of Substitutes: The availability of numerous low-priced substitutes poses a challenge to the rose extract market. This competition includes using roses for their ornamental value and source material.
- Rose Oil Dominates: Among the categories of rose oil, rose concrete, rose absolute, and rose water, rose oil commands a significant market share. It is extensively used in essential oils, personal care products, and food and beverage applications.
- Food & Beverage Industry Leads: The markets application categories include aromatherapy, food and beverage, cosmetics and personal care, and retail/household. The food and beverage industry, driven by the demand for health-promoting ingredients, is a dominant segment.
- Europe Takes the Lead: The European region is experiencing rising demand for rose extract due to its use in aromatherapy and the cosmetics and personal care industries. The market in East Asia and South Asia is also growing significantly due to the expansion of the food and beverage sectors and increasing reliance on health and wellness products.
- Xian Peihong Biotechnology Co., Ltd.: Focused on providing long-lasting and valuable products, the company is investing in research and development to create innovative offerings.
- Alteya Organics LLC: Known for producing goods based on strict USDA organic standards, the company stands out due to its emphasis on independent laboratory certifications.
The global rose extract market is on a promising growth trajectory, driven by factors such as rising consumer demand for health-promoting ingredients, inclusion of organic rose extract in final goods, and the expanding food and beverage industry. Despite challenges posed by substitutes, the markets recovery from the impact of COVID-19 and its potential for expansion remain significant.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/rose-extract-market
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