Report : South & Central America Bromelain Market Forecast to 2030 - Regional Analysis - by Source (Stem and Fruit) and Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others)
At 6.4% CAGR, South & Central America Bromelain Market is Projected to be Worth US$ 4.18 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the South & Central America bromelain market was valued at US$ 2.55 million in 2022 and is expected to reach US$ 4.18 million by 2030, registering a CAGR of 6.4% from 2022 to 2030. Consumers inclination toward skin health and rising preference for natural plant-based ingredients are among the critical factors attributed to the South & Central America bromelain market expansion.
Consumers' perception of beauty has changed dramatically in recent years, especially after the onset of the COVID-19 pandemic, as they have started focusing on holistic beauty, which blurs the lines between beauty, health, and well-being. People strongly believe that having beautiful skin necessitates a healthy lifestyle. Consumers are increasingly opting for healthier ways to make their skin glow. Bromelain is one of the most beneficial beauty ingredients promoting healthy skin and, thus, is commonly employed in the cosmetic industry. Bromelain is a natural enzyme that exhibits remarkable exfoliating properties. It works by breaking down proteins and gently dissolving the dead skin cells that accumulate on the skin's surface. Bromelain offers a gentle yet effective exfoliation, making it suitable for sensitive skin types. Along with smoothening the skin and correcting complexion, this enzyme aids in reducing inflammation and promoting a brighter, more even skin tone. Thus, manufacturers in the bromelain market are seeing vast revenue streams in the cosmetics industry.
Different skincare product companies have been harnessing the antimicrobial properties of bromelain. Many pineapple enzyme-based skincare products have been launched in recent years. The Naturals Beauty-a cosmetic manufacturer offers 'Teen Gel Enzyme Exfoliator' which contains papain and bromelain as plant-based enzymes. The rising consumer awareness about the benefits of plant-based ingredients in skincare products is another trend that is likely to create new avenues in the bromelain market. Further, there has been a growing demand for nutricosmetics, the products or ingredients that act as nutritional supplements for skin, nail, and hair care. They are usually offered in liquids, pills, or functional foods. Thus, the growing consumer focus on skin health is likely to bring new growth trends in the bromelain market during the forecast period.
On the contrary, high production cost hamper the growth of South & Central America bromelain market.
Based on source, the South & Central America bromelain market is bifurcated into stem and fruit. The stem segment held 83.1% share of the South & Central America bromelain market in 2022, amassing US$ 2,118.27 thousand. It is projected to garner US$ 3,451.14 thousand by 2030 to expand at 6.3% CAGR during 2022-2030.
In terms of application, the South & Central America bromelain market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care, and others. The pharmaceuticals & nutraceuticals segment held 39.3% share of the South & Central America bromelain market in 2022, amassing US$ 1,000.32 thousand. It is projected to garner US$ 1,570.48 thousand by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on country, the South & Central America bromelain market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held 49.7% share of South & Central America bromelain market in 2022, amassing US$ 1,265.44 Thousand. It is projected to garner US$ 2,014.39 Thousand by 2030 to expand at 6.0% CAGR during 2022-2030.
Key players operating in the South & Central America bromelain market are Challenge Bioproducts Co Ltd, Enzybel International SA, Medikonda Nutrients, and Botanic Healthcare, among others.
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