Market Outlook for Bergamot Extract:
Bergamot extract is obtained from a rare citrus fruit, Citrus Bergamot, which is predominantly produced in Southern Italy. Bergamot extract is rich in free radical scavengers such as flavonoids. Bergamot extract contains around five unique antioxidant polyphenolic compounds that provide various health benefits. Bergamot extract helps to maintain the normal cholesterol levels and aids blood glucose metabolism. Bergamot extract has antimicrobial properties and therefore has application in the pharmaceutical industry. It has a subtle and fresh flavor and is therefore used as a flavoring ingredient in baked products, ice-creams, etc. It also has applications in industries such as dietary supplement, beverage, nutraceutical, cosmetic, etc.
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Increase in Sales of Dietary Supplement Likely to Enable the Growth of Bergamot Extract Market
The increase in health and fitness trends amongst the consumers may serve as one of the drivers for the increase in the market of bergamot extract. The demand for dietary supplements is increasing at a very rapid rate. More than 70% of American adults take at least one type of dietary supplement. Also, consumers prefer the use of plant-based products as there might be some side-effects due to the use of animal-based products and therefore bergamot extract can be used by the manufacturers of dietary supplement industry to develop plant-based supplements.
Statins are the drugs that are used to maintain cholesterol levels but statin is not suitable for all consumers as some might have side-effects and develop statin intolerance. Bergamot extract has “statin-like” mode of action which helps to regulate the cholesterol levels and therefore can be used by the pharmaceutical industry to develop new drugs that can be used by the consumers that have developed statin-intolerance. Therefore, the use of bergamot extract to develop pharmaceutical drugs might help increase its demand.
In recent years, due to an increase in health awareness among the consumers, they prefer not only health food but are switching towards the use of health food ingredients and therefore the trend for clean-label food products is increasing. More than 80% of the consumers understand the connection between nutrition and health and therefore prefer the use of food products that contain healthy ingredients. Therefore the manufacturers of the food and beverage industry can use bergamot extract as a food ingredient, as it has antioxidant, antimicrobial and anti-inflammatory properties which provide various health benefits such as regulates cholesterol levels, supports cardiovascular health, etc. Bergamot extract can be used for preparing a variety of food products such as cakes, cookies, jelly, etc. Bergamot extract has a wide range of applications and is aligned with the current consumer trends and therefore the market for bergamot extract might increase.
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The presence of similar products might serve as a major restraint for the bergamot extract market. There are many companies that are keeping track of the current market trends and are trying to develop plant-based products that have high nutritive value and therefore the high competition in the market can affect the growth of bergamot extract market.