Newyork, March 08, 2023 (GLOBE NEWSWIRE) -- The Cranberry Supplements Market revenues were estimated at US$ 239.5 Million in 2022 and are anticipated to grow at a CAGR of 5.3% from 2023 to 2033, according to a recently published Persistence Market Research report. Supplements in form of capsules dominate the Cranberry supplements market with a projected CAGR of 5.2% from 2023 to 2033.
Cranberries have multiple beneficial uses in humans as well as animals. These supplements are available in the form of caplets, capsules, drops, gummies, powder, soft gels, and tablets. They are distributed online as well as on offline platforms such as supermarkets and pharmacies.
They are mainly used in the treatment of urinary tract infections, and oral diseases such as tooth decay. Around 2 billion people suffer from tooth decay and 514 million children suffer from tooth decay of primary teeth. Regular use of these supplements prevents such oral diseases including mouth cancer.
In the past few years, there has been an increase in the number of patients having urinary tract infections. Cranberry plays an important role in their treatment due to its anti-fungal and anti-inflammatory properties. Prevention or treatment of urinary tract infections on time is necessary because they may spread and cause kidney damage.
According to National Pets Owner Survey, around 70% of U.S. households, which accounts for almost 90.5 million families, own a pet in 2022. In the United States, spending on pets reached US$ 123.6 billion, an increase of 19% from US$ 103.6 billion in 2020. There is an increase in awareness regarding the health of pets among the new generation. They are willing to spend more than ever on their pet’s well-being.
Regular intake of these supplements prevents animals from getting contracted infectious diseases and treats bladder stones. These properties of cranberry supplements will lead to its market growth.
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Competitive Analysis:
Key players in the Cranberry Supplements market are GNC, Blackmores, Healthy Care, Go Healthy, Swisse, Holland&Barrett, Nutra-Life, Webber Naturals, Jamieson, and Azo.
Some of the recent developments in the Cranberry Supplements market are:
• In February 2022, Ocean Spray, a cranberry products manufacturer collaborated with Canomik, a start-up technology company to leverage the innovation in cranberry products. Ocean spray is aimed to manufacture products from cranberry that are beneficial for controlling blood pressure and are good for heart health. The AI-based technology of Canomik associated with genomic and bioinformatics technology enables testing and confirming the efficiency of the product. This will help to back the claim of cranberries’ beneficial use in heart health.
• In April 2018, Blackmore an Australian health supplement company acquired Catalent Australia Holding Pty Ltd for US$ 30.57 million. This was a 100% acquisition along with its manufacturing facility in Victoria. The aim of this acquisition is to extend Blackmore’s market in Asian countries.
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More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Cranberry Supplements market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Cranberry supplements in terms of Form (Caplet, Capsule, Drop, Gummy, Powder, Softgel, Tablet), in terms of Distribution Channel (Supermarkets, Pharmacies, Online Retailers, Others), and in terms of Region (North America, Europe, APAC, MEA, Latin America) – 2023 to 2033
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