PUBLISHER: Allied Market Research | PRODUCT CODE: 1414863
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414863
According to a new report published by Allied Market Research, titled, "Ayurvedic Herbal Extract Market," The ayurvedic herbal extract market was valued at $41.5 billion in 2022, and is estimated to reach $68.6 billion by 2032, growing at a CAGR of 5.2% from 2022 to 2032.
Ayurvedic herbal extracts are concentrated forms of medicinal plants, derived through various extraction methods to utilize their therapeutic properties. Commonly used in traditional and complementary medicine, ayurvedic herbal extracts are believed to promote overall well-being by addressing imbalances in the body. With a rich history and cultural significance, these extracts are increasingly recognized globally for their natural and holistic approach to health and healing.
Health benefits of natural extracts are anticipated to increase its demand in the pharmaceutical and nutraceutical industry. Herbal extracts are projected to aid in blood pressure regulation, weight management, and prevention of diseases. The market is driven by the increasing awareness regarding the therapeutic properties of herbal products. Rising demand for herbal medicines, dietary supplements, and ingredients is contributing to the expansion of the market. Changing lifestyles, adoption of natural ingredients, and rising disposable incomes of the population in various regions are some factors that are projected to drive the market growth during the forecast period.
The ayurvedic herbal extracts market faces challenges due to the shortage of raw materials, stemming from the seasonal availability of herbs, and inadequate supply chains. The manufacturing process heavily relies on specific plant varieties, which may only be accessible during certain times of the year. This seasonality leads to fluctuations in raw material availability, impacting production consistency. Moreover, the insufficient supply of key ingredients poses an obstacle for manufacturers in meeting growing demand. Another concern is the volatility in product prices due to these supply chain constraints. The unpredictability in the availability of raw materials can result in increased production costs, thereby limiting the growth potential of the herbal extracts market in the future.
Major players in the ayurvedic herbal extract market are directing their efforts towards developing herbal products using cost-effective extraction methods. Technological advancements across the supply chain are anticipated to be a driving force for market expansion. These advancements streamline production processes, ensuring efficiency and cost-effectiveness. The market is set to benefit from the rising demand for instant-use products, indicating a shift in consumer preferences towards convenient and readily available herbal solutions. Manufacturers of herbal extracts are strategically investing in marketing initiatives to capitalize on emerging opportunities. This focus on promotion and outreach not only enhances brand visibility but also contributes to the creation of new avenues for market expansion. As the industry aligns with evolving consumer needs and embraces innovative technologies, the ayurvedic herbal extract market is create several growth opportunities for the key players.
The COVID-19 pandemic has severely impacted the ayurvedic herbal extract market. With a surge in health consciousness and a growing emphasis on preventive wellness, there has been a notable expansion in the market for herbal extracts. The acceptance of natural remedies has increased, driven by a desire for holistic health approaches. As individuals seek ways to boost their immunity and well-being, the demand for ayurvedic herbal extracts has increased significantly. The market has experienced a transformative shift, with a notable trend towards herbal products. This shift is propelled by consumers' preference for traditional and natural solutions, reflecting a broader societal movement towards a healthier lifestyle. Among the various segments, immunity-boosting herbal extracts have emerged as a rapidly growing category, aligning with the increased focus on health & wellness in the wake of the pandemic.
The key players profiled in this report include: Nexira, Blue Sky Botanics, MartinBauer, Synergy, Dohler GmbH, The Biolandes Group, Kalsec Inc., Vidya Herbs Pvt. Ltd., International Flavors & Fragrances Inc., and Synthite Industries Ltd. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
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