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Fenugreek Seed Extract Market Analysis and Forecast to 2024 by Leading Players Arjuna Natural Extracts, Nutra Green Biotechnology, Ambe Phytoextracts, Unique Organics, Indus Biotech, Bio-Botanica
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Changing dietary patterns coupled with rising athletes demand for health supplements will drive global fenugreek seed extract market size. Increasing prevalence of diabetes, particularly type 2, owing to a busy lifestyle, obesity, as well as growing energy-rich foods and nutrient-dense foods consumption, will propel product penetration over the forecast period.
Increasing spending on personal care products is also expected to boost the application scope. Rapid expansion of cosmetics market and availability through various channels including online portals, retail, and branded stores will further propel fenugreek seed extract market size. As per industry estimates, the global cosmetics industry was estimated at USD 240 billion in 2016 with sales growth around 4% from the preceding year.
Competitive Market Share:
Prominent players in fenugreek seed extract market are Arjuna Natural Extracts, Nutra Green Biotechnology, Ambe Phytoextracts, Unique Organics, Indus Biotech, Bio-Botanica, Hunan nature biotechnology, Chereso Lifesciences, Novoherb and Creative Enzymes. Manufacturers are expected to improve their distribution channels for shorter supply chain. The industry is expected to witness collaboration between exporters and manufacturers in producing companies, skipping middleman in the chain. Increasing scientific R&D initiatives by various food organizations in close cooperation with industry participants is anticipated to propel fenugreek seed extract market expansion over the projected timeframe.
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Increasing spending on personal care products is also expected to boost the application scope. Rapid expansion of cosmetics market and availability through various channels including online portals, retail, and branded stores will further propel fenugreek seed extract market size. As per industry estimates, the global cosmetics industry was estimated at USD 240 billion in 2016 with sales growth around 4% from the preceding year.
Rise in concern about ingredients and chemicals used in the cosmetics will positively influence industry growth. Factors such as antimicrobial and antioxidant properties coupled with improved demand for natural products will propel fenugreek seed extract market size. Growing consumer awareness about synthetic chemicals will continue to boost the natural personal care industry.
Manufacturers are anticipated to invest in modern technologies to improve extraction process and overall productivity. Increasing fenugreek production and export across the globe is expected to propel fenugreek seed extract market growth. Major importing nations such as UAE, Yemen Arab Republic (YAE), South Africa, Japan, UK, Egypt, U.S., Saudi Arabia, Bangladesh, Germany, France, Malaysia, Netherlands, and Nepal will provide lucrative opportunities for industry players to gain competitive advantage. However, overconsumption leads to side effects such as thyroid dysfunctions, hypoglycemia, loose motions and breathing problems. This may hinder fenugreek seed extract market growth over the forecast period.
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Fenugreek Seed Extract Market, By Application
Pharmaceutical application was valued at over USD 2 million in 2016. Improved demand for sports supplements to enhance athlete performance and weight management is likely to propel product demand for this application segment. Growing demand for medicines based on natural ingredients, driving research and development initiatives by various manufacturers and researchers. In addition, increasing ayurvedic medicinal formulations consumption augmenting product demand.
Food & beverage application accounted for over 40% market share in 2016. Increasing product application as a spice to add a distinct flavor in food pastes, curry powders, and sauces will drive fenugreek seed extract market size from this segment. Rising demand for ingredients extracted from plants, containing powerful antioxidants will further boost industry growth.
Cosmetic applications will witness growth over 13.5% up to 2024. High dietary fiber content and other key elements such as iron, manganese, potassium, selenium driving fenugreek seed extract usage in various cosmetic products include shampoo, oil serum, conditioners and anti-aging creams. Further, increasing demand for sun creams to avoid exposure to ultraviolet radiation is expected to propel the product demand.
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Table of Contents:
Report Content
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Fenugreek Seed Extract Market Industry Insights
Chapter 4. Fenugreek Seed Extract Market, By Connectivity
Chapter 5. Fenugreek Seed Extract Market, By Grid Type
Chapter 6. Fenugreek Seed Extract Market, By Power Source
Chapter 7. Fenugreek Seed Extract Market, By Storage Devices
Chapter 8. Fenugreek Seed Extract Market, By Application
Chapter 9. Fenugreek Seed Extract Market, By Region
Chapter 10. Company Profiles
Complete Report – https://www.reportsweb.com/reports/fenugreek-seed-extract-market-size-industry-share-report-2024
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