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Fenugreeked Extract Market Report
Fenugreeked Extract Market Trends, Dynamics & Market Insights
Fenugreeked Extract Market, By Form (Powder, Oil), Application (Pharmaceuticals, Food, and Beverage, Cosmetics), and Region - COVID-19 Impact Analysis and Forecast to 2026.
The Fenugreeked Extract market is projected to grow from USD 5.3 million in 2020 to USD 10.9 million by 2026 at a CAGR of around 13.1% during the forecast period.
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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.
Key players operating in the Fenugreeked Extract market are-
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.
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 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing demand for health supplements.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 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).
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.
Here is the list of the group of customers that the fenugreeked extract market hopes to have the greatest opportunity to convert-
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The fenugreeked extract market is expected to witness an impressive growth of 13.1% CAGR in the coming years.
Arjuna Natural Extracts Ltd (India), Nutra Green Biotechnology Co., Ltd (China), Ambe Phytoex-tracts 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 (In-dia), Novoherb (China) and Creative Enzymes (US) are among the key players in the fanugreeked extract market.
The fenugreeked extract market size is expected to reach USD 10.9 million in the foreseeable future.
The pharmaceuticals segment is expected to grow at a significant CAGR in the fenugreeked extract market in the coming years.
Asia-pacific accounted for the largest share in the fenugreeked extract market in 2020.
Fenugreeked extract distributors, Fenugreeked extract suppliers, Fenugreeked extract manufacturers, Logistics organizations, Government bodies are the target audience in the fenugreeked extract market.
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