by Blueberries are a rich source of vitamins, minerals, antioxidants and fiber, they possess several health benefits such as improving heart health, supporting brain function, and improving eyesight. Blueberry ingredients such as freeze-dried powder, concentrate, and extracts are used in diverse applications in the food and beverage industry. Increasing demand for healthy and nutritional food ingredients is driving the market for blueberry ingredients. Food products such as yogurts, cereals, smoothies incorporate blueberry ingredients to cater to the demand from health-conscious consumers. The global blueberry ingredients also find applications in dietary supplements due to presence of anthocyanins and other polyphenols. The rising aging population has increased focus on cognitive health, thereby positively impacting the sales of blueberry-infused supplements.
The global Blueberry Ingredients Market is estimated to be valued at US$ 2, 2277.4 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The blueberry ingredients market is witnessing increasing demand from the nutraceutical industry. Blueberries contain a high level of antioxidants that help to reduce oxidative stress and prevent cell damage. They also have anti-inflammatory properties that help ease inflammatory conditions such as arthritis. Researchers are exploring various health benefits of blueberries, which is fuelling new product development in the nutraceutical segment. Manufacturers are innovating with blueberry-enriched pills, powders and syrups for boosting immunity, brain health, heart health and anti-aging. Ease of consumption of supplement form is driving popularity of blueberry nutraceuticals.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry in the blueberry ingredients market. However, strong brand recognition of existing players acts as a deterrent.
Bargaining power of buyers: Large retail buyers have significant influence over prices due to their high volume purchases and private label offerings. This increases competition and reduces margins for suppliers.
Bargaining power of suppliers: A few major players dominate the supply of high quality blueberries. This concentration gives them negotiating power over prices and terms of trade.
Threat of new substitutes: Substitute fruits like blackberries, cranberries offer similar health benefits. However, blueberries have established themselves as a ‘superfruit’ with unique nutritional profile minimizing threat.
Competitive rivalry: Intense competition exists among major players to capture market share through new product development, acquisitions and regional expansion. This drives innovation and keeps pricing and profit margins low.
Key Takeaways
The global blueberry ingredients market is expected to witness high growth over the forecast period.
North America is currently the largest as well as the fastest growing regional market for blueberry ingredients. The U.S. accounts for the major share owing to increasing consumption of nutrition-rich foods and drinks. Growth in the European market is primarily driven by rising health-consciousness.
Key players operating in the blueberry ingredients market are Ingredion Incorporated, AGRANA Beteiligungs-AG, Dohler GmbH, Sensient Technologies Corporation, Tianjin Jianfeng Natural Product R&D Co. Ltd, Givaudan SA, FutureCeuticals, Scenic Fruit Company, Atlantic Blueberry Company Inc., and Jasper Wyman & Son Inc. Ingredion dominates the market with its broad portfolio of blueberry juices, powder, extracts and antioxidants. AGRANA focuses on organic and fair-trade certified ingredients to strengthen its premium positioning. Dohler aims to tap the prospering foodservice industry with convenience solutions like fruit fillings and toppings.
