The global sea buckthorn market value is set to witness robust growth, projected to grow from USD 393.1 million in 2024 to USD 1,025 million by 2034, with a compound annual growth rate (CAGR) of 10.1%. This growth is fueled by increasing consumer awareness of health benefits, rising popularity of functional foods, and expanding applications in cosmetics and alcoholic beverages.
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Key Market Highlights:
- Health and Wellness Trends Drive Demand: Sea buckthorn is gaining popularity as a functional food ingredient due to its rich nutrient profile, including vitamins, antioxidants, and omega fatty acids, essential for overall health.
- Versatile Applications in Functional Foods: The berries are used in juices, jams, and dietary supplements, catering to the growing demand for natural and nutritious food options among health-conscious consumers.
- Rising Use in Cosmetics: Sea buckthorn's benefits in skincare, such as boosting collagen production and providing anti-inflammatory properties, are driving its inclusion in cosmetic products like creams, oils, and soaps.
- Growing Popularity in Alcoholic Beverages: In markets like the United Kingdom, sea buckthorn is used in craft spirits and cocktails for its unique flavor profile and health-enhancing properties, appealing to health-conscious consumers.
- Increasing Production and Market Penetration: Countries like the United States, Japan, and South Korea are witnessing a surge in sea buckthorn cultivation and import, driven by expanding consumer demand and government support for sustainable agriculture.
Market Insights and Future Prospects: The sea buckthorn market is characterized by innovations in product formulations, strategic partnerships among industry players, and expanding distribution channels. With ongoing research uncovering new health benefits and applications, the market is poised for continued growth across diverse sectors.
Competitive Landscape in the Sea Buckthorn Market
As the crop’s harvesting becomes more common, the competition in the sector is expanding too. Players in the industry collaborate frequently with brands in end-user industries. Thus, players are jumping into collaborations with dietary supplement companies, sports drink brands, and others.
One of the prominent companies in the industry, SeabuckWonders, focuses on its cosmetic know-how to offer diverse products to consumers. Its oils are especially in demand. Wellsash offers the popular Wellsash Sea Buckthorn Juice, while the W.S. Badger Company Inc. offers face cleansing oils as a key product.
Recent Developments in the Sea Buckthorn Market
- In July 2023, Australia-based Mud Organics made its way into the United States with the launch of its product 30 Day. It is a vegan supplement powder, with sea buckthorn as one of the key ingredients.
- In November 2023, it was announced that sea buckthorn grown in Ladakh, India would get a special Geographical Indication (GI) tag from the government.
- A study concluded in 2024 by researchers from Memorial University, Canada, found that the berries have the potential to combat obesity and diabetes.
