Wilmington, Delaware, United States, March 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global study on herbal extracts in nutraceuticals market observed that beneficial effects of herbal nutraceuticals for the prevention and treatment of many diseases are reinforcing the customer demands. Growing R&D on the efficacy and biological activity of herbal extracts, phytochemicals, and organic herbal extracts have paved the way to novel formulations. The TMR study projects the herbal extracts in nutraceuticals market to reach US$ 5.8 Bn in value by 2031, driven by increasing consumer awareness and evolving regulations globally.
In recent times, search for natural products in treating respiratory complications has broadened herbal extracts in nutraceuticals market outlook considerably. Of note, a number of plant‑based compounds derived from herbal extracts have shown promise for the treatment of COVID-19 infections. Ongoing trends of herbal extracts in nutraceuticals market underscore increased inclination of manufacturers to unveil certified products to steer sales. As a result, investments in testing facilities have increased in recent years.
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Research on testing the health benefits of ingredients notably aloe vera botanical dietary supplements and guggul gum resins for cardiovascular and gastrointestinal diseases are likely to open up profitable avenues, as herbal extracts in nutraceuticals market revenue analysis has found. Ayurvedic brands are leaning on testing these for various physiological disorders particularly weight loss. Of note, rising clinical acceptance of conventional ingredients has fueled market demand for herbal extracts in nutraceuticals.
Key Findings of Herbal Extracts in Nutraceuticals Market Study
- Strengthening Regulations on Nutraceuticals Boosting Market Prospects: Lack of standard regulations and paucity of clear frameworks for defining nutraceuticals present a veritable challenge for stakeholders to realize the full potential of the herbal extracts in nutraceuticals market. In recent years, various government bodies have been geared toward the addressing the concerns about unsubstantial claims about the ingredient efficacy and product safety. Additionally, they are continuously focused on updating the norms. Cases in point are efforts by the U.S. FDA (Drug Administration Modernization Act), European Food Safety Authority (EFSA), Central Drugs Standard Control Organisation, and Food Safety and Standards Authority of India (FSSAI).
- Companies Step up R&D on Novel Formulations: Companies in the herbal extracts in nutraceuticals market are keen on ramping up investments on novel ingredients. These are likely to pave the way to new nutraceuticals for cancer management, opening up new prospects. Changing consumer preferences are steering the demand for products that can be easily stored and consumed. In this regard, powder forms have been widely adopted. The value of the segment is projected to surpass US$ 1.32 Bn by 2031. Moreover, enormous uptake of conventional herbal nutraceuticals in powder forms presents a vast avenue.
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Herbal Extracts in Nutraceuticals Market: Key Drivers
- The shift of consumers from disease treatment to prevention has been a major factor influencing the course of development of the herbal extracts in nutraceuticals market. Proclivity toward natural remedies have bolstered interest in herbal ingredients in nutraceuticals.
- Evolving regulations play a key role in endorsing the health claims of herbal extracts in nutraceuticals. As the industry is working toward internationally accepted definition of nutraceuticals, the avenues will expand.
Herbal Extracts in Nutraceuticals Market: Regional Growth Dynamics
North America has been a lucrative market for herbal extracts in nutraceuticals, its growth propelled mainly by massive demand for herbal nutraceuticals over the past few years. The regional market was pegged at US$ 1.16 Bn in 2021, and is projected to expand at a CAGR of 5.8% during 2021–2031 (forecast period).
Europe is another promising market, where the revenue streams are reinforced by manufacturers leaning on complying with regulatory guidelines.
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Herbal Extracts in Nutraceuticals Market: Key Players
Companies are leaning on complying with national and international regulations to improve safety and effectiveness of products and steer consumer acceptance. Some of the prominent players in the herbal extracts in nutraceuticals market are Sami-Sabinsa Group, Bioingredia Pvt. Ltd., Olive Lifesciences, Bhoomi Naturals, Vidya Herbs, All-Season Herbs Pvt. Ltd., BOS Naturals, Ozone Naturals, Star Hi Herbs, Bioprex Labs, and GFP Herbal.
Herbal Extracts in Nutraceuticals Market Segmentation
Type
- Cinnamon Extract
- Fenugreek Extract
- Curcumin Extract
- Amla Extract
- Pomegranate Peel Extract
- Ashwagandha Extract
- Aloe Vera Extract
- Gurmar Extract
- Brahmi Extract
- Cumin Seeds Extract
- Onion Extract
- Green Coffee Extract
- Garlic Extract
- Mangosteen Extract
- Sugar Beet Extract
- Orange Peel Extract
- Guggul Extract
- Tulsi Extract
- Licorice Extract
- Moringa Leaf Extract
- Piper Betel Extract
Nature
- Organic
- Conventional
Extraction Process
- Solvent Extraction
- SCFE
- Spray Dried
Form
- Powder
- Liquid
Regions Covered
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle east & Africa
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