Global Kumquat Extracts Market - 2023-2030

Overview

Global Kumquat Extracts Market reached US$ 720.12 million in 2022 and is expected to reach US$ 1325.01 million by 2030, growing with a CAGR of 7.9% during the forecast period 2023-2030.

Kumquat extract is obtained from a citrus fruit, kumquat fruit. It is available in powder and liquid forms for its use in multiple product preparations. The increasing demand for natural and organic products is strengthening the demand for natural ingredients in the market. The kumquats are present in 3 types nagami, marumi and meiwa variations in their sweetenss and other paramets for thier ultimate use in required applications.

The kumquat extract is used in various applications, including food and beverage, cosmetics, and pharmaceutical industry. The kumquat extract plays various roles such as a flavouring agent in the food and beverage industry, a natural ingredient in skincare formulation and also a health-promoting ingredient in the pharmaceutical industry. The high demand for kumquat extracts from all these industries helps in expanding the market growth.

The beneficial and supportive crop production and agricultural practices methods take place for better raw material availability. The advancements taking place in the field of the kumquat extraction process contribute increase in the market size. Technologically improved extraction methods such as the use of a soxhlet extraction device, applied in the production of kumquat extract, help in the wide expansion of the market size.

Dynamics

Increasing Demand for Natural Ingredients

Increasing health consciousness among global consumers is driving the need and demand for natural and clean-labelled products. Increasing consumer awareness regarding the adverse effects of synthetic products has reduced their demand. With the high consumer focus on health and well-being, the demand for natural ingredients and natural products has increased rapidly.

Manufacturers are using various natural and organic ingredients such as kumquat extracts to promote and illustrate their products as natural and clean-labelled to meet consumer demand. In food products such as jams, sauces and jellies the kumquat extract is used to provide the ultimate citrus flavor to the product.

The rich antioxidants and vitamin characteristics of the kumquat extract are highly useful for its use in various cosmetic and personal care applications. It is used to provide elasticity to skin and wrinkles. With the increasing trend of clean beauty and natural beauty standards, kumquat extracts are used in the preparation of multiple cosmetic and personal care formulations.

Health Benefits Associated with the Kumquat

Kumquat is highly valued for its nutritional profile. It is rich in vitamins, minerals, essential oils and antioxidants. These extracts when added to food and beverage products, help enhance the product's nutritional value. The potential health benefits and health-promoting characteristics of these extracts drive their use in multiple applications.

The kumquat extracts when used provide health and wellness benefits to the body. They help in treating constipation and maintain healthy skin. The kumquat extracts possess anti-inflammatory and antimicrobial effects. The potential medicinal properties associated with the use of kumquat extracts positively drive market growth.

Limited Availability and High Cost

Kumquat plants are specific to some of the climatic conditions and grow in specific regions only because of their favourable climate. This limited cultivation also limits their availability to most manufacturers of other regions and climatic conditions. The low availability poses severe challenges for the manufacturers in trading the raw materials required.

The cultivation and harvesting of the kumquat may impose higher production costs on the producers. In addition, the efficient extraction of the kumquat extract may also raise the production costs due to the high need for of incorporation better extraction methods. The limited availability and high extraction costs result in the high cost of the product, affecting the choice of low and moderate-range end-users. Further, the lack of consumer awareness about the product also hinders market growth.

Segment Analysis

The global kumquat extracts market is segmented based on type, form, application and region.

High Role in Flavor Enhancement

The global kumquat extracts market is segmented based on application into food and beverages, cosmetics and personal care and pharmaceuticals. The food and beverage segment has the largest share in the global market with the increased application of kumquat extract in multiple food and beverage manufacturing.

Food and beverage industries use kumquat extracts as flavouring agents, due to their distinctive citrus flavour, with a sweet and tangy taste. With the incorporation of distinctive flavours, manufacturers are attracting more consumers who are actively looking for new and unique tastes in their food or beverage products.

Consumers always crave for innovative and healthy flavors in food and beverage products. To meet the needs and preferences of consumers, manufacturers are using new and innovative flavours such as kumquat extracts as flavouring agents in multiple products such as jams, jellies, candies and pickles. These extracts are also used as ingredients in the production of beverages such as liqueurs, cocktails and juices.

Geographical Penetration

High Adoption of Natural Ingredients in Asia-Pacific

In the global kumquat extracts market, Asia-Pacific dominated the market growth. Countries of this region are the significant producers of the kumquat. Kumquat is native to southern China and Japan countries of this region, due to the favourable climatic conditions. The region also exports kumquat to Europe and North America, maintaining good trade analysis.

The kumquat has a tradition and culinary usage in Asian countries. The nativity provides the easy availability of the kumquat fruit for the extraction process and its application in various industries. The region has a wide range of development of food and beverage industries with continuous innovation and expansion.

Manufacturers are using unique product launches with the incorporation of natural and exotic ingredients such as kumquat extracts. Increasing health consciousness among consumers and a huge focus on health and wellness can have a positive impact on the use of highly benefited kumquat as a natural extract, in this region. In addition, the kumquat extract has a massive potential as a natural ingredient in food as well as in natural beauty.

Competitive Landscape

The major global players in the market include: Stringer Flavour. Ltd, Amoretti, Vigon International, LLC., deve herbes, Shaanxi Jintai Biological Engineering Co., Ltd, Wellgreen Technology Co., Ltd., VASILAKIS SA, Xi'an Xiaocao Botanical Development Co., Ltd., Wonders Flavours Inc and Plant Therapy.

COVID-19 Impact Analysis

The COVID-19 pandemic had a mixed impact on the kumquat extract market. Every kind of industry, especially the food and beverages industries, suffered a lot due to the unpredicted COVID-19. The sudden lockdown declaration restricted all industrial processes from the raw material procurement to the final product distribution to the end-user.

The kumquat extract market was highly affected by pandemic conditions due to limited resources and manpower. The supply chain activities and distribution channels greatly disrupted the market sales and income with reduced production and product sales. The shortage of raw materials caused production to halt and limited the use of the product in various end-use applications.

Health and wellness-promoting products were in high demand during the pandemic as people were more concentrated on improving their health and immunity. The consumer choice of natural products over synthetic increased the demand for natural ingredients, such as kumquat extracts for their use in multiple applications.

Russia- Ukraine War Impact

The Russia and Ukraine war highly influenced every kind of industry in the market, including the global kumquat extracts market. The war created obstacles in the global trade and supply chain analysis. The kumquat extract market players faced challenges in the sourcing of raw materials from other regions. Limited and delayed trade transitions contributed to the increases in the prices of various products, affecting the market.

By Type

• Nagami
• Marumi
• Meiwa

By Form

• Liquid
• Powder
• Other

By Application

• Food and Beverage
• Cosmetics and Personal Care
• Pharmaceuticals
• Other

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In March 2023, The Salcombe Distilling Co., introduced Victuallers Special Edition Rhubarb & Bergamot Gin into the market. The product is blended with nine botanicals including kumquat providing a citrus refreshing finish to the product.
• In June 2023, Aprch Beverage Co., announced the launch of its collaborative Partner Project second edition Kumquat energy drink. The drink is brewed with kumqut and yerba mate providing 25 calories.
• In March 2021, OUAI introduced a new product in their product portfolio with the launch of thick and medium shampoos and conditioners. The medium shampoo and conditioner products are formulated with kumquat fruit extract, coconut oil and keratin.

Why Purchase the Report?

• To visualize the global kumquat extracts market segmentation based on type, form, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of kumquat extracts market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global kumquat extracts market report would provide approximately 61 tables, 57 figures and 204 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies