Fenugreeked Extract Market Report

Market Insights

The Fenugreeked Extract market is projected to grow from USD 6.01 billion in 2021 to USD 14.17 billion by 2028 at a CAGR of around 12.97% during the forecast period of 2022-2028.

What is fenugreek extract?

Fenugreek extract is obtained from a series of processing of fenugreek seeds. Flavourer extract and oil possess superior antioxidant, antimicrobial, antidiabetic, and antitumorigenic properties. It's being widely used as a thickening agent and an emulsifier in a very broad range of applications. It's also used as a spice and flavoring agent in food preparation.

Market Dynamics

The growth of fenugreeked extract market is primarily driven by rising demand for health supplements. Changing lifestyle and unhealthy eating habits has resulted in increased demand for supplements which is likely to drive the growth of fenugreeked extract at a significant rate during the review period. In addition to this, increasing product use in the personal care industry is likely to create lucrative opportunities for the players operating in the global market in the coming years.

COVID-19 Impact on Fenugreeked Extract Market

The outbreak of the COVID-19 virus has affected the pharmaceuticals, food & beverage, and beauty and cosmetics industries significantly. Stringent lockdown measures and restricted movement of people affected the product demand and supply for a short period of type.

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Key Players

Key players operating in the Fenugreeked Extract market are-

• Arjuna Natural Extracts Ltd (India)
• Nutra Green Biotechnology Co., Ltd (China)
• Ambe Phytoextracts Pvt. Ltd. (India)
• Unique Organics Limited (India)
• Indus Biotech Private Limited (India)
• Bio-Botanica Inc (US)
• Springer Nature Group (UK)
• Chereso Life Sciences Private Limited (India)
• Novoherb (China)
• Creative Enzymes (US)

Target Audience

Here is the list of the group of customers that the fenugreeked extract market hopes to have the greatest opportunity to convert-

• Fenugreeked extract distributors
• Fenugreeked extract suppliers
• Fenugreeked extract manufacturers
• Logistics organizations
• Government bodies

Segment Analysis

Application Trends

By application, the fenugreeked extract market has been bifurcated into pharmaceuticals, food and beverage, and cosmetics. Under these, the pharmaceuticals segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing demand for health supplements.

Regional Trends

By region, the market in Asia-Pacific accounted for the largest market share in 2021 and is projected to grow at a significant CAGR during the assessment period. The segment growth is primarily attributed to the increasing growth of the end-use industries in developing countries, particularly China and India. The market growth in the North American region is expected to be driven by high demand for health supplements coupled with the presence of key market players such as Bio-Botanica Inc (US) and Creative Enzymes (US).

Market Segmentation

The market is segmented in the following ways:

By Form Type

• Powder
• Oil

By Application Type

• Pharmaceuticals
• Food and Beverage
• Cosmetics

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.