Sea Buckthorn Market to Reach USD 684.25 Million by 2030 | Fortune Business Insights™
Key Companies in Sea Buckthorn Market are SeabuckWonders (U.S.), Wellsash (India), W.S. Badger Company Inc. (U.S.), Natures Aid Ltd. (U.K.), Erbology (U.K.), SIBU (U.S.), WELEDA (Switzerland), Leh Berry (India), Natura Health Product (U.S.), TEREZIA COMPANY s.r.o (Czech Republic), and more players profiled.
Sea buckthorn Market
Pune, India, Dec. 13, 2023 (GLOBE NEWSWIRE) — The global sea buckthorn market size was USD 317.13 million in 2022. The market is set to rise from USD 347.56 million in 2023 to USD 684.25 million by 2030 at a CAGR of 10.16% during 2023-2030.
Sea buckthorn is a deciduous shrub predominantly found in Asia Pacific and Europe and is also called hippophae rhamnoides. Growing consumption of natural and functional foods and increasing awareness about the health benefits of sea buckthorn are the key factors expected to foster market expansion in the coming years.
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Leading Players Featured in the Research Report:
Companies leading in Sea Buckthorn Market are SeabuckWonders (U.S.), Wellsash (India), W.S. Badger Company Inc. (U.S.), Natures Aid Ltd. (U.K.), Erbology (U.K.), SIBU (U.S.), WELEDA (Switzerland), Leh Berry (India), Natura Health Product (U.S.), TEREZIA COMPANY s.r.o (Czech Republic)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 10.16% |
| 2030 Value Projection | USD 684.25 Million |
| Sea Buckthorn Market Size in 2022 | USD 317.13 Million |
| Historical Data | 2017-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Sea Buckthorn Market Growth Drivers | Rise in Government Programs to Boost Commercial Cultivation is Accelerating Market Growth |
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COVID-19 Impact:
Increased Health Awareness among Individuals during the Pandemic Propelled Market Growth
The COVID-19 outbreak had a moderate impact on the global market. Supply chain disruptions during the pandemic hampered market growth. However, increased awareness about their immune systems and overall health among individuals amid the pandemic boosted market expansion.
Segmentation
Growing Consumption of Juice due to its Convenience to Foster Segment Expansion
In terms of form, the market is segregated into juice, oil, powder, and others. The juice segment is projected to account for a significant sea buckthorn market share. The growing consumption of juice drives the segment’s growth due to its convenience and ease of consumption.
Surging Need for Dietary Supplements to Enhance Overall Health to Boost Segment Growth
By application, the market is categorized into dietary supplement, pharmaceutical, cosmetics and personal care, food and beverages, and others. The dietary supplement segment is predicted to increase at a high CAGR over the projected period. The increasing need for supplements to enhance overall health is driving the segment’s expansion. These supplements are made with juice and oil of berries and have omega-3 fatty acids.
Geographically the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
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Drivers and Restraints
Rise in Government Programs to Boost Commercial Cultivation is Accelerating Market Growth
Recently, sea buckthorn has been cultivated in large quantities across the globe. The growing cultivation supports the fulfillment of the increasing need for this versatile fruit. An increase in government efforts to encourage and boost the commercial cultivation of the product is expected to fuel market growth in the coming years. In November 2021, to begin commercial cultivation of sea buckthorn berries in Ladakh, the Council of Scientific and Industrial Research (CSIR) partnered with the Government of the Union Territory of Ladakh.
However, damage to berries due to their small size and thin skin during harvesting leads to high wastage, which hinders market growth.
Regional Insights
Increasing Sea buckthorn Cultivation to Fuel Market Growth in Asia Pacific
Asia Pacific is anticipated to account for a significant share of the global market over the forecast period. The region has a long history of using the product for health benefits and is also well known for being a top sea buckthorn cultivator, specifically in China. Growing traditional and Ayurvedic medicinal product demand is driving the market growth in India.
North America is set to register prominent growth over the forecast timeframe due to the surging need among individuals for healthy and natural substitutes to traditional products. The growing usage of natural and herbal ingredients in food and beverage products and health supplements is driving sea buckthorn market growth in the region.
Competitive Landscape
Increasing Investments in Joint Ventures by Key Companies to Propel Market Expansion
Leading companies are implementing tactics, including investments in joint ventures and mergers and acquisitions, to boost their market presence. They are focusing on research and development activities to offer advanced products.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Market Overview of Related/Parent Market
- Industry SWOT Analysis
- Value Chain Analysis
- Recent Industry Developments – Policies, Mergers & Acquisitions, and New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Sea Buckthorn Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Form (Value)
- Juice
- Oil
- Powder
- Others
- By Applications (Value)
- Food and Beverages
- Dietary Supplements
- Pharmaceuticals
- Personal Care and Cosmetics
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Form (Value)
To Be Continued…!
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Key Industry Development
- January 2019: The UN Development Programme (UNDP), under its SECURE Himalaya program, collaborated with the Government of India and the Global Environment Facility to assist Rigzin and community members in improving a business model around seabuckthorn-based products.
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