Pumpkin Seed Extract Products Market Trends, Industry | 2031

Report Description

Market Outlook:

The global pumpkin seed extract products market was estimated at USD 1,265.0 Million in 2022 and is anticipated to reach USD 2,138.9 Million by 2031, expanding at a CAGR of 6.2% during the forecast period.

Pumpkin seed extract products refer to various preparations derived from the seeds of Cucurbita pepo (pumpkin). These extracts contain a range of bioactive compounds, including vitamins, antioxidants, essential fatty acids, and minerals. Pumpkin seed oil, a common form of extract, is rich in linoleic acid, palmitic acid, stearic acid, and other polyunsaturated and monounsaturated fatty acids. It is also a source of antioxidants such as carotenoids, tocopherols, and phytosterols, as well as the trace mineral zinc.

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One of the key health benefits of pumpkin seed extracts is their high nutrient content. They are a good source of protein, containing all the essential amino acids needed for growth and repair of tissues in the body. Pumpkin seeds are also a great source of healthy fats, including omega-3 and omega-6 fatty acids, which are important for heart health and brain function. Additionally, pumpkin seeds are rich in fiber, which can aid in digestion and help promote a feeling of fullness, making them a satisfying and nutritious snack option.

COVID-19 Impact on the Global Pumpkin Seed Extract Products Market

The research report finds that the COVID-19 pandemic has significant impact on the distribution, transportation, and manufacturing of pumpkin seed extract products. Production challenges in certain regions, particularly those experiencing lockdowns and travel restrictions, contributed to supply chain disruptions. The US government had implemented several trade-related measures in response to COVID-19. This has affected the trade of raw material, including pumpkin seed to produce pumpkin seed extract products. Preventive measures imposed by governments, such as emergency lockdowns and social distancing, forced many stores, including grocery stores, to temporarily close. This resulted in a huge decline in foot traffic, which significantly decreased sales and revenue.

Artificial Intelligence (AI) Impact on the Global Pumpkin Seed Extract Products Market

Artificial Intelligence (AI) has significant impact on pumpkin seed extract products by enhancing various aspects of the industry. Recent developments in novel technologies and AI, such as precision fermentation, 3D extrusion, ultrasonic technology, and others, are being explored to improve plant protein functionality. Moreover, AI is being utilized to detect the moisture content and size of pumpkin seeds, that contributes to enhancing seed quality. These advancements highlight the positive influence of AI on the production and quality of pumpkin seed extract products.

Macro-economic Factors

Purchasing Power of Consumers

The purchasing power of a currency is the quantity of goods or services that one unit of money can purchase. Consumer purchasing power is the amount of money with which consumers buy goods or services. Purchasing power is determined by real income, which is income adjusted for inflation. Per capita income or an individual’s income is directly associated with the consumer purchasing power. Higher the income, higher is the purchasing power. Consumers are considering the effectiveness and quality of ingredients over the price, due to the high disposable income. The demand for pumpkin seed extract products is increasing, due to rising health consciousness, increased demand for high-end food, and its high use in beauty products. Thus, people are investing in good quality superfoods and cosmetics for their nutrient content and anti-aging properties.

Consumer Buying Behavior Analysis while Purchasing Pumpkin Seed Extract Products

• 91% of consumers read online reviews before making a purchase decision.

• 85% of consumers compare products online before shopping in physical stores.

• 66% of digitally influenced purchases were influenced by price, followed by product features at 54%.

• More than 62% of smartphone users are more likely to purchase from companies whose mobile websites provide relevant information.

• 83% of consumers said they are more likely to purchase products if the brand provides a consistent experience across devices.

• 77% of consumers expect to have a consistent experience with brands, regardless of the channel they engage with.

• 85% of consumers trust online reviews as much as personal recommendations.

• Impulse purchases account for 48% of all consumer spending

• 41% of global consumers say they would switch brands for a coupon or discount.

• Over 50% of online consumers abandon their shopping carts.

• 85% of consumers are more likely to buy a product if it is recommend by medical professional.

Market Dynamics

Major Driver- Increasing Demand for Natural Medicines

The increasing demand for natural medicine serves as a significant driver for the pumpkin seed extract products market. The preference for natural and plant-based remedies over synthetic drugs is growing, as consumers become increasingly health-conscious. Pumpkin seed extract is perceived as a natural and holistic remedy, attracting consumers seeking alternatives to conventional pharmaceuticals. For instance,

• According to according to an article published by DSM, 60% of consumers say the pandemic has made them increasingly conscious of preventing health problems by leading a healthy lifestyle.

Existing Restraint- Seasonality

Seasonality is a significant restraint for the pumpkin seed extract products market. Pumpkin seeds are typically harvested during specific seasons, usually in the fall. This limited window of availability leads to fluctuations in the supply of raw materials for extraction. Manufacturers face challenges in maintaining consistent production levels throughout the year, due to the seasonal nature of pumpkin seed harvesting. This results in supply shortages or uneven product availability in the market.

Emerging Opportunity- Health and Wellness Trend

Pumpkin seeds are known for their nutritional profile, including magnesium, zinc, antioxidants, and fatty acids. These nutrients are essential for various bodily functions, including immune support, heart health, and anti-inflammatory benefits. The increasing consumer awareness and demand for nutrient-dense, natural food supplements make pumpkin seed extract products particularly appealing.

Scope of the Report

The report on the global pumpkin seed extract products market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on form, global pumpkin seed extract products market is divided into pumpkin seed extract powder, pumpkin seed oil, and pumpkin seed extract capsules/softgels. The pumpkin seed oil segment held a major share of the market in 2022 and is expected to expand at a significant CAGR during the forecast period. Pumpkin seed oil typically contains high concentration of beneficial nutrients such as vitamins, minerals, and fatty acids. This makes pumpkin seed oil a potent source of nutrition when consumed. Moreover, pumpkin seed oil is used in various culinary applications, including salad dressings, dips, and drizzling over dishes. Its rich and nutty flavor adds depth to recipes and makes it a popular choice in cooking and food preparation.

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On the basis of application, the global pumpkin seed extract products market is bifurcated into food supplements and beauty products. The beauty products segment held significant share of the market in 2022. Pumpkin seed extract offers numerous benefits for skin and hair health, including moisturizing, nourishing, and protecting properties. Its rich nutrient profile, including vitamins, minerals, and antioxidants, makes it a valuable ingredient in skin care and hair care formulations. Beauty products, such as creams, serums, and masks, allow for direct application of pumpkin seed extract onto the skin and hair, maximizing its effectiveness. The topical application of beauty products enables the absorption of key nutrients and bioactive compounds, promoting visible improvements in skin and hair conditions.

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Based on distribution channel, the global pumpkin seed extract products market is categorized into online and offline. The online segment is expected to expand at a significant CAGR during the forecast period. Online shopping allows consumers to browse and purchase products from the comfort of their homes at any time of day, eliminating the need to travel to physical stores. Online retailers typically offer a wide variety of products, allowing consumers to choose from a broad range of brands, formulations, and price points. For instance, e-commerce has become the biggest single channel for sales of dietary supplements in the US, while online celebrity endorsements and the rise of influencer marketing are fueling interest in beauty-from-within brands.

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Regional Outlook

On the basis of region, the global pumpkin seed extract products market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA).

The market in North America is projected to expand at a significant CAGR during the forecast period. Manufacturers of pumpkin seed extract products in North America are inventing new formulations and delivery formats to cater to diverse consumer preferences. This includes the development of supplements, functional foods, beverages, and beauty products containing pumpkin seed extract.

The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. The increasing health consciousness among consumers, who are seeking natural and healthier alternatives to traditional medicines and supplements, is boosting the pumpkin seed extract products market in Asia Pacific.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Pumpkin Seed Extract Products Market

• Historical, Current, and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Pumpkin Seed Extract Products Market performance