Global Broccoli Extract Market Overview
Broccoli Extract Market Size was estimated at 6.37 (USD Billion) in 2022. The Broccoli Extract Industry is expected to grow from 6.81(USD Billion) in 2023 to 12.5 (USD Billion) by 2032. The Broccoli Extract Market CAGR (growth rate) is expected to be around 6.98% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Broccoli Extract Market Trends Highlighted
The Broccoli extract market is anticipated to grow due to rising health awareness and increasing demand for natural and organic ingredients in food and beverages. Growing consumer preference for plant-based diets and supplements fuels market growth along with its potential health benefits, such as reducing inflammation, improving cardiovascular health, and aiding digestion. Additionally, the rising prevalence of chronic diseases and the search for natural remedies drive market demand. Technological advancements in extraction processes, such as supercritical fluid extraction and ultrasound-assisted extraction, enhance the efficiency and yield of broccoli extracts, further supporting market growth.
Broccoli Extract Market Drivers
Rising Health Consciousness among Consumers
As consumers become increasingly aware of the need for a more balanced diet, they tend to focus on specific foods and supplements that come with health benefits. In a crushing life with stress and pollution, there are ample numbers of consumers who turn to broccoli extract for antioxidants, vitamins, and minerals to improve their overall health. The increasing demands for healthy and nutrition-based food are expected to propel the growth of the broccoli extract market in the years to come. The amount of nutrients it contains, broccoli extract can also be very helpful in increasing and enhancing flavor in many food and beverage formulations.
This can include smoothies, juices, supplements, and even bread. This can further add to the continued growth of the broccoli extract market. One of the major reasons driving the market growth, which is anticipated to remain dominant over the coming years, is the increase in awareness regarding health among consumers.
Increasing Prevalence of Chronic Diseases
The increasing prevalence of chronic diseases is another key market driver that is expected to contribute to the growth of the broccoli extract market. Chronic diseases, such as heart disease, cancer, and diabetes, are a major health concern worldwide, and consumers are increasingly looking for ways to prevent and manage these diseases. Broccoli extract has been shown to have a number of health benefits that may help to prevent and manage chronic diseases.
For example, broccoli extract has been shown to reduce inflammation, improve blood sugar control, and protect against cancer. These health benefits are expected to make broccoli extract an attractive option for consumers looking to reduce their risk of chronic diseases.
Growing Popularity of Plant-Based Diets
The growing popularity of plant-based diets is another key market driver that is expected to contribute to the growth of the broccoli extract market. Plant-based diets are becoming increasingly popular as consumers become more aware of the environmental and health benefits of reducing meat consumption. Broccoli extract is a valuable ingredient for plant-based diets as it is a rich source of protein, vitamins, and minerals. It can be used to create a variety of plant-based foods, such as meat alternatives, dairy alternatives, and supplements.
The growing popularity of plant-based diets is expected to drive the demand for broccoli extract in the coming years.
Broccoli Extract Market Segment Insights
Broccoli Extract Market Type Insights
The Broccoli Extract Market is segmented by Type, and within this segment, the market is further divided into Organic and Conventional. The Organic segment is expected to grow at a CAGR of 7.5% over the forecast period, while the Conventional segment is expected to grow at a CAGR of 6.5% during the same period. In 2023, the Organic segment accounted for a larger revenue share of the Broccoli Extract Market, and this trend is expected to continue over the forecast period. The growth of the Organic segment can be attributed to the increasing demand for organic food products.
More consumers are becoming health-conscious, and this has increased the demand for organic food products, including broccoli extract supplements. Several consumers believe organic products are healthier, cleaner, and free from harmful chemicals. This has driven the growth of the Organic segment. The Conventional segment is also expected to grow over the forecast period, although at a slower rate than the Organic segment. The growth of the Conventional segment can be attributed to the lower price point of conventional broccoli extract products compared to organic counterparts.
Conventional broccoli extract products are more affordable, making them more accessible to a wider range of consumers. This is expected to drive the growth of the Conventional segment over the forecast period. Overall, the Type segment is a key driver of the Broccoli Extract Market growth. The growth of both the Organic and Conventional segments is expected to contribute to the growth of the overall market over the forecast period.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Broccoli Extract Market Form Insights
The Broccoli Extract Market segmentation by Form includes Powder, Liquid, and Capsules. The Powder segment held the largest market share in 2023, accounting for over 55% of the Broccoli Extract Market revenue. The Powder form is preferred due to its ease of handling, storage, and longer shelf life. The Liquid segment is projected to experience the highest growth rate during the forecast period, owing to its increased use in beverages and dietary supplements. The Capsules segment is also expected to witness significant growth, driven by the growing popularity of convenient and portable dosage forms.
Broccoli Extract Market Application Insights
The Broccoli Extract Market can be segmented into Dietary Supplements, Food and Beverages, Cosmetics and Personal Care, and Pharmaceuticals. Dietary Supplements segment held the major share of the market in 2023 and is expected to continue its dominance during the forecast period. The increasing demand for dietary supplements to maintain overall health and well-being is driving the growth of this segment. The Food and Beverages segment is also expected to exhibit substantial growth, owing to the rising popularity of functional foods and beverages.
The cosmetics and Personal Care segment is anticipated to grow at a steady pace, driven by the increasing use of broccoli extract in anti-aging and skin care products. The pharmaceuticals segment is expected to grow at a moderate rate as broccoli extract is gaining recognition for its potential therapeutic applications.
Broccoli Extract Market Target Group Insights
Target Group The broccoli extract market targets various groups with distinct needs. General Health and Wellness Consumers seek broccoli extract for its antioxidant and anti-inflammatory properties to maintain overall well-being. Fitness and Weight Management Consumers utilize it for its potential role in supporting weight loss and improving athletic performance. Medical Patients with conditions like cardiovascular disease, cancer, or diabetes may incorporate broccoli extract into their regimens as a complementary therapy due to its potential health benefits.
This growth is attributed to increasing consumer awareness about the health benefits of broccoli extract and its applications in various industries.
Broccoli Extract Market Distribution Channel Insights
Broccoli extract is witnessing increasing adoption, owing to the rising prevalence of chronic diseases and growing consumer preference for natural ingredients in dietary supplements and food products. The Broccoli Extract Market is anticipated to grow with a CAGR of 6.98% from 2024 to 2032. Distribution Channel The distribution channel segment of the Broccoli Extract Market is categorized into online, retail, and wholesale. The retail segment held the largest market share in 2023 and is expected to maintain its dominance during the forecast period.
This growth is attributed to the growing presence of supermarkets, hypermarkets, and convenience stores worldwide. The online segment is projected to register the highest CAGR of 8.5% during the forecast period. The rising popularity of e-commerce platforms is driving the growth of this segment. The wholesale segment holds a significant market share and is expected to witness steady growth due to the presence of established distribution networks and bulk purchases by manufacturers and distributors.
Broccoli Extract Market Regional Insights
The Broccoli Extract Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The region's large consumer base, high disposable income, and growing awareness of the health benefits of broccoli extract are key factors driving market growth. Europe is the second largest market for broccoli extract, followed by APAC. The APAC region is expected to experience the fastest growth over the forecast period due to rising consumer demand for natural and organic products and increasing disposable income.
South America and MEA are expected to contribute a relatively small share of the broccoli extract market but are expected to grow at a steady pace over the forecast period. The regional segmentation of the Broccoli Extract Market provides a comprehensive overview of the market dynamics, growth potential, and competitive landscape in each region.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Broccoli Extract Market Key Players And Competitive Insights
The Broccoli Extract Market is highly concentrated, with a few key players dominating the market share. These leading players are actively involved in research and development, strategic partnerships, and mergers and acquisitions to maintain their competitive edge. The competitive landscape is characterized by intense competition, with companies vying for market share through product innovation and differentiation.
The Broccoli Extract Market industry
Indena S.p.A. is a leading player in the Broccoli Extract Market industry, with a strong presence in Europe and North America. The company is known for its high-quality Broccoli Extract and its commitment to sustainability. Indena has a wide product portfolio that includes standardized extracts, botanicals, and APIs. Its Broccoli Extract is sourced from certified organic farms and is standardized to ensure consistent quality and efficacy.
Leading Broccoli Extract Market Players
Sabinsa Corporation is another prominent player in the Broccoli Extract Market. The company has a presence, with manufacturing facilities in the United States, India, and China. Sabinsa is known for its innovative botanical extracts and its focus on clinical research. Its Broccoli Extract is standardized to contain a high concentration of sulforaphane, a powerful antioxidant that has been shown to have numerous health benefits.
Key Companies in the Broccoli Extract Market Include
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Green Foods Corporation
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NOW Foods
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Sabinsa Corporation
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Terry Naturally
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BioBotanica, Inc.
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Swanson Health Products
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Bronson Laboratories, Inc.
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Kemin Industries, Inc.
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Nature's Way Products, LLC
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Phytogenics, LLC
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Gaia Herbs
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Natural Factors Nutritional Products Ltd.
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Indena SpA
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NutraScience Labs
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Puritan's Pride, Inc.
Broccoli Extract Market Industry Developments
The broccoli extract market is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 6.98% during the forecast period (2024-2032). Rising consumer awareness regarding the health benefits of broccoli extract, increasing demand for natural and organic ingredients in food and beverage products, and growing applications in the pharmaceutical and cosmetic industries are key factors driving market growth.
Recent news developments include the launch of new broccoli extract products by leading manufacturers, such as Kemin Industries' launch of a new broccoli extract standardized for glucoraphanin content. Additionally, research studies continue to uncover new health benefits of broccoli extract, such as its potential role in reducing the risk of chronic diseases like cancer and cardiovascular disease. These factors are expected to contribute to the continued growth of the broccoli extract market in the coming years.
- Broccoli Extract Market Segmentation Insights
- Broccoli Extract Market Type Outlook
- Broccoli Extract Market Form Outlook
- Broccoli Extract Market Application Outlook
- Dietary Supplements
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceuticals
- Broccoli Extract Market Target Group Outlook
- General Health and Wellness Consumers
- Fitness and Weight Management Consumers
- Medical Patients
- Broccoli Extract Market Distribution Channel Outlook
- Broccoli Extract Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
6.37(USD Billion) |
| Market Size 2023 |
6.81(USD Billion) |
| Market Size 2032 |
12.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.98% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Green Foods Corporation, NOW Foods, Sabinsa Corporation, Terry Naturally, Bio-Botanica Inc., Swanson Health Products, Bronson Laboratories Inc., Kemin Industries Inc., Nature's Way Products LLC, Phytogenics LLC, Gaia Herbs, Natural Factors Nutritional Products Ltd., Indena SpA, NutraScience Labs, Puritan's Pride Inc. Â Â |
| Segments Covered |
Type, Form, Application, Target Group, Distribution Channel, Regional  |
| Key Market Opportunities |
Growing demand for natural and organic food additives Increased consumer awareness of the health benefits of broccoli extract Rising prevalence of chronic diseases and the aging population Expansion of nutraceutical and pharmaceutical industries Technological advancements in extraction and processing methods |
| Key Market Dynamics |
Growing health consciousness Rising demand for natural supplements Advancements in extraction technologies Increasing disposable income Expansion of the food and beverage industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The broccoli extract market was valued at USD 6.81 billion in 2023 and is expected to reach a value of USD 12.5 billion by 2032, at a CAGR of 6.98% over the forecast period.
North America currently dominates the broccoli extract market, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to witness significant growth over the forecast period due to increasing demand from emerging economies such as China and India.
Broccoli extract is primarily used in the food and beverage industry as a natural antioxidant, colorant, and flavoring agent. It is also used in the pharmaceutical and cosmetic industries for its anti-inflammatory and anti-cancer properties.
Some of the key competitors in the broccoli extract market include Biomax Life Sciences, Sabinsa Corporation, and NutraScience Labs. These companies are investing in research and development to expand their product offerings and cater to the growing demand for natural ingredients.
The growing demand for natural and healthy food ingredients, increasing awareness of the health benefits of broccoli extract, and rising disposable income are some of the key factors driving the growth of the broccoli extract market.
The broccoli extract market faces challenges such as fluctuating raw material prices, stringent regulatory guidelines, and intense competition from synthetic substitutes.
Opportunities for growth in the broccoli extract market include the expansion of the food and beverage industry, increasing consumer preference for natural ingredients, and growing demand from emerging markets.
Key trends in the broccoli extract market include the rising popularity of plant-based diets, increasing demand for ,clean-label products, and growing adoption of e-commerce platforms for distribution.
The broccoli extract market is expected to grow at a CAGR of 6.98% over the forecast period from 2024 to 2032.
Key factors to consider when investing in the broccoli extract market include market size and growth potential, competitive landscape, regulatory environment, and technological advancements.
