At 11.3% CAGR, North America Maqui Berries Market is Projected to be Worth US$ 26.93 Million by 2030, says Business Market Insights

According to Business Market Insights research, the North America maqui berries market was valued at US$ 11.44 million in 2022 and is expected to reach US$ 26.93 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Rising popularity of skin care products with maqui berry and utilization of maqui berries in supplements for diabetes are among the critical factor attributed to the North America maqui berries market expansion.

People are increasingly focusing on skin care to look youthful and fresh. They are ready to spend a lot of money on products that make their skin healthy-looking and radiant. According to a survey of more than 1,000 American adult consumers conducted by Advanced Dermatology, on an average, Americans spend US$ 722 every year on their appearance. Skin care products accounted for 69% of the spending. Consumers are seeking products with clean and natural ingredients owing to rising skin concerns related to toxic chemical ingredients present in cosmetics and skin care products. In addition, the preference for non-comedogenic products with natural fruit extracts and botanicals is increasing rapidly as consumers focus on sustainable beauty. Maqui berries are packed with antioxidants that slow down the ageing process, resulting into glowing and youthful skin. They boost the collagen producing process that helps reduce wrinkles and fine lines. Moreover, maqui berries hydrate the skin, making it plump and radiant. Owing to the benefits of maqui berries in improving skin health, skin care product manufacturers are including maqui berry extracts and powders in their products to fulfil the rising demand for maqui berry-infused products. In August 2020, Hear Me Raw, one of the emerging skin care brands, launched a range of hydrating moisturizer and clarifier that includes maqui berries, pear, watermelon oil, and coconut water. Maqui berries present in the product promote anti-inflammatory activity that soothes the skin and promotes healing. Thus, the rising use of maqui berries in skin care products due to their benefits is expected to boost the North America maqui berries market during the forecast period.

On the contrary, limited supply of maqui berries hampers the growth of North America maqui berries market.

Based on form, the North America maqui berries market is bifurcated into fresh and processed. The processed segment held 91.5% share of North America maqui berries market in 2022, amassing US$ 10.47 million. It is projected to garner US$ 24.75 million by 2030 to expand at 11.4% CAGR during 2022-2030.

In terms of category, the North America maqui berries market is bifurcated into organic and conventional. The conventional segment held 70.5% share of North America maqui berries market in 2022, amassing US$ 8.07 million. It is projected to garner US$ 18.72 million by 2030 to expand at 11.1% CAGR during 2022-2030.

By application, the North America maqui berries market is segmented into functional food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, and animal nutrition. The functional food and beverages segment held 50.9% share of North America maqui berries market in 2022, amassing US$ 5.83 million. It is projected to garner US$ 13.42 million by 2030 to expand at 11.0% CAGR during 2022-2030.

Based on country, the North America maqui berries market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 86.1% share of North America maqui berries market in 2022. It was assessed at US$ 9.85 million in 2022 and is likely to hit US$ 22.91 million by 2030, exhibiting a CAGR of 11.1% during 2022-2030.

Key players operating in the North America maqui berries market are Abbott Blackstone Co, CK Ingredients Inc, Ferreiro & Co Inc, HP Ingredients Corp, Jeeva Organic Pvt Ltd, Nature's Power Nutraceuticals Corp, Rainforest Supply LLC, Shaanxi LonierHerb Bio-Technology Co Ltd, Vita Forte Inc, and Xi'an Herb Bio-Tech Co Ltd, among others.

2023: Canada-based CK Nutraceuticals has extended its North American distribution agreement with Chile-based Maqui New Life for the promotion and distribution of the Maqui berry-derived Delphinol and MaquiBright ingredients.

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