Facts and Factors have authored “Papaya Extract Market By Type (Liquid and Powder), By Application (Food, Cosmetics, Chemical Products, Pharmaceutical and Health Care, and Feed) and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026”. Based on our analysis, the global Papaya Extract market in 2019 is approximately USD 3,642 Million and is anticipated to reach around USD 5,702 Million by 2026. The anticipated CAGR for the Papaya Extract market is around 7% from 2020 to 2026.
Fresh fruits or skin of papaya are used to make an extract. Papaya extract is also known as Carica papaya fruit extract. The extracts are basically used in the formulation and the production of exfoliants, dandruff control products, ointments, acne treatments, and anti-aging skincare products. In the case of skin treatments, the enzymes present in the papaya extract helps remove dead skin and other impurities from the skin. Papaya extracts are also used in various cosmetic products such as gels, conditioners, moisturizers, shampoos, facial masks, creams, etc.
Drivers of global Papaya Extract Market:
- Increasing demand for flavored beverages along with the changing lifestyle and more preference toward fruit or ready-to-eat food products are factors fuelling the demand for papaya extracts in the food processing industry.
- The advancement in the storage centers, transportation facilities, and cultivation process is estimated to boost the market growth during the forecast period.
- The entry of new industrial players with their latest innovations and lucrative methods will also help propel the global Papaya Extract market.
- The growing use of papaya extract in infant formula, increasing consumer demand for healthy lifestyles, and continual research & development activities attribute to the growing demand for papaya extract.
- Additionally, the rising use in the bakery industry, ice creams, cakes, yogurt, sports drinks, etc. is further anticipated to boost the market growth during the forecast period.
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- Powder papaya extract category accounted for the 65% market share in 2018. The fragrance, refreshingly sweet taste and skin rejuvenating properties of the powdered type is expected to help augment Papaya Extract market growth.
- In addition, the Pharmaceutical and health care category is expected to dominate the global Papaya Extract market owing to its wide use as a Dengue treatment and other beneficial effects such as lowering fever, increasing white blood cells, and platelet counts, etc.
- North America is anticipated to dominate the Papaya extracts market as it exhibited a market share of almost 31.86% in 2018. The latest cost-effective technological advancements along with the increasing standard of living help surge the demand for papaya extract across the globe. Additionally, the growing inclination of consumers toward a healthy diet and flavored food & beverages is expected to further boost the North America Papaya Extract market growth.
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Some of the essential players operating in the global Papaya Extract market, but not restricted to include The Garden of Naturalsolution Co., Ltd., Provital Group, Guangdong Dashan Chemical, Lucas Meyer Cosmetics, RAHN AG, Navchetana Kendra Health Care Private Limited, Lipotec SAU, Technology Co., Ltd., and Greentech GmbH.
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The taxonomy of the Papaya Extract Market by its scope and segmentation is as follows:
Global Papaya Extract Market: By Type Segmentation Analysis
Global Papaya Extract Market: By Application Segmentation Analysis
- Pharmaceutical and Health Care
- Chemical Products
Global Papaya Extract Market: By Regional Segmentation Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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