Global Vaccinium myrtillus Market Overview
Vaccinium myrtillus, commonly known as wimberry, bilberry, European blueberry or whortleberry, is a species of shrubs with blue color edible fruit of high medicinal values. Vaccinium myrtillus is distinctly known as common bilberry or blue whortleberry in order to distinguish from other Vaccinium species. Vaccinium myrtillus is majorly found in Europe, Greenland, Iceland, northern Asia, U.S. and Canada. However, majority of the Vaccinium myrtillus is produced in Eastern Europe regions. Vaccinium myrtillus are majorly found in the wild on acidic soil conditions. Vaccinium myrtillus find its application in varieties of end-use industry verticals, and hence a positive outlook can be witnessed for Vaccinium myrtillus market in the upcoming years.
Global scenario of increasing disease burden and extensive R&D efforts for the innovation of drugs are the prime factors supporting the explosively growing pharmaceutical industry world. According to the American Diabetes Association, over 30.3 million Americans were diagnosed with diabetes, which was proved to be the leading cause of death in the United States, in 2015. With increasing prevalence of diabetes, demand for Vaccinium myrtillus products is expected to witness a rise in the U.S and other regions around the world. According to a study published in European Review for Medical and Pharmacological Sciences, Vaccinium myrtillus can be used to provide relief for dry eyes.
Vaccinium myrtillus can be used to reduce eye discomfort, where Vaccinium myrtillus extracts plays a vital role in improving tear secretion and plasmatic antioxidant potential in patients suffering from dry eye. According to University of Maryland Medical Center, Vaccinium myrtillus are very rich in anthocyanosides which helps in assisting the viability of blood vessels and ensures healthy circulation throughout the body including capillaries in the eyes. More comprehensive research on Vaccinium myrtillus reveals anthocyanosides present in Vaccinium myrtillus accelerates formulation of the pigment called rhodopsin, which helps in the eyes’ ability to see in darkness as well as improves the adaptability of eyes towards changing light intensity. Vaccinium myrtillus also helps delay cataract development. Vaccinium myrtillus contains a significant amount of anthocyanosides, which assists in minimizing blood clot because of its properties to thwart blood platelets from aggregating. Moreover, anthocyanosides are antioxidants and helps in preventing the oxidizing of cholesterol. Improved vision, reduction in hemorrhagic tendencies in the eyes, improved blood vessel structure are some of the factors because of which Vaccinium myrtillus is widely used in the pharmaceutical industry.
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High medicinal properties of Vaccinium myrtillus and increasing health-related issues will drive the Vaccinium myrtillus in the forecast period. High demand for Vaccinium myrtillus can be seen in the upcoming years but there are few factors which might impede the overall growth of Vaccinium myrtillus market. Some factors includes adulteration Vaccinium myrtillus extract. Vaccinium myrtillus are often adulterated with intensive dark blue color, such as anthocyanidin-containing extracts or red food coloring such as amaranth dye. Such extracts and dye are harmful for human consumptions. Also, rising global geopolitical tensions resulting in trade wars will negatively impact the overall growth of the Vaccinium myrtillus market during the forecast period.
Global Vaccinium myrtillus Market Segmentation
Vaccinium myrtillus can be segmented on the basis of product type, end-use application and nature. On the basis of product type, Vaccinium myrtillus can be further segmented as fruit extract and leaf extract. On the basis of end-use application, Vaccinium myrtillus can be further segmented as food and bakery products, pharmaceutical industry and cosmetic and personal care industry. Vaccinium myrtillus is widely used in jams, fools, juices and pies. On the basis of nature, the market can be further segmented as fresh and frozen. Frozen form to account for comparatively more share than fresh Vaccinium myrtillus.
Global Vaccinium myrtillus Market Regional Outlook and Competition Tracking
High demand for Vaccinium myrtillus can be seen in North America and Europe region. In the U.S., Vaccinium myrtillus was among the top 20 herbal supplements between 2007 and 2012 in the food and pharmaceutical market. Asia Pacific and Latin America to register high CAGR during the forecast period. Some of the leading manufacturers of Vaccinium myrtillus includes Eevia Health Oy, ETchem, Sanyuan Jinrui Natural Ingredients Co., Ltd, BioMax Life Sciences, NOW Foods, Bio-Botanica, and other global and local players.
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This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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