The Latin America, Middle East and Africa Sea Buckthorn Market would witness market growth of 12.4% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 447.4 Tonnes, showcasing a growth of 14.0% (2024-2031).
The pharmaceutical industry has recognized the potential therapeutic properties of sea buckthorn and has been exploring its applications in drug development. Extracts and derivatives of these are being studied for their pharmacological properties, including anti-inflammatory, antimicrobial, antioxidant, and wound-healing effects. Consequently, the pharmaceutical industry would utilize approximately 69.4 tonnes of Sea Buckthorn in Brazil by 2031.
The Brazil market dominated the LAMEA Sea Buckthorn Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $12,912.5 Thousands by 2031. The Argentina market is showcasing a CAGR of 13% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 12% during (2024 - 2031).
Trends and innovations in the market reflect the evolving consumer preferences, technological advancements, and research findings driving the utilization of this versatile plant across various industries. For example, a growing preference is for clean-label products made with natural, minimally processed ingredients. These, with its natural origin and nutritional richness, aligns well with this trend.
Manufacturers are developing clean-label formulations using these extracts and oils as alternatives to synthetic additives and preservatives. These clean-label products appeal to consumers seeking transparency, authenticity, and sustainability in their food and beverage choices. Moreover, with increasing awareness of environmental sustainability, there is a growing emphasis on sustainable sourcing practices in the market.
As the food sector in Brazil expands, there is a greater demand for innovative and exotic ingredients to enhance food products. With its tangy flavour profile and nutritional benefits, this presents an opportunity for food manufacturers to diversify their product offerings. According to the United States Department of Agriculture, the food processing sector in Brazil had revenue of US$209 billion in 2022, showing a growth of 16.6 percent compared to the previous year. In conclusion, the rising processed food industry propels the market’s growth.
Free Valuable Insights: The Worldwide Sea Buckthorn Market is Projected to reach USD 640.2 million by 2031, at a CAGR of 9.9%
Based on Form, the market is segmented into Juice, Powder, Oil, and Others. Based on Application, the market is segmented into Pharmaceutical, Dietary Supplement, Food & Beverages, Cosmetics & Personal Care, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Form (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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