Press release
Quillaja Extract Market likely to surge at a vigorous 10% CAGR during the assessment period 2021-2031
Quillaja Extract Market
Demand for nutritional and plant-based ingredients in pet food from the pet owners is pushing the production adoption of quillaia extract, widening growth opportunities for the manufacturers. Increasing awareness about the pet’s food safety have increased the consumption of ingredients that boosts the metabolism, such as quillaia extracts. Hence, accelerating the adoption of it in the manufacturing. Emergence of clean label movement and demand for clean label pet food products, especially among dog owners, have propelled the market demand. Quillaia extract being naturally derived from plants, manufacturers have increased the adoption of it in the manufacturing process, necessitating the requirement of clean label product.
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As per a report by ESOMAR-certified consulting firm Future Market Insights (FMI), the quillaia extract market grew at a CAGR of 3.3% between 2016 and 2020, underpinned by the surging demand for pet food with immunity boosting ingredients.
Extensive research & development activities for the appropriate usage of ingredients like quillaia extract in pet food is accelerating the demand. With surging initiatives of adopting various dog breeds across U.S., India, France, Spain and UK, the demand for natural ingredient pet food have augmented.
“Increasing need for sustainable and economical solutions for power generation within various end-use sectors such as food & beverage, oil & gas and transportation are providing expansion prospects for market players,” says the FMI analyst.
Thus, facilitating huge customer base to cater the unique breed’s requirement and aiding the increased demand for natural pet food, manufacturers are anticipated to witness lucrative growth opportunities in the upcoming decade.
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As per FMI’s analysis, the global quillaia extract market is poised to expand at a CAGR of 4.5% during the forecast period of 2021 and 2031.
Key Takeaways from Quillaia Extract Market Study
• The quillaia extract market is projected to rise at 4.5% CAGR in the forecast period, driven by applications in the animal feed and pet food industries.
• The North America quillaia extract market is estimated to be valued at more than US$ 3.7 Mn in the year 2021 driven by pet humanization trends in the U.S.
• Dry food applications of quillaia extract accounts for more than 35% of the market, while frozen products reflect a higher CAGR of over 5%.
• France, followed by Germany are the leading markets in Europe, cumulatively accounting for close to a fourth of the European market share.
• Brazil and Mexico are exhibiting steady growth in demand for quillaia extract in Latin America.
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Competitive Landscape
Some of the key players operating in quillaia extract market are the Baja Yucca Company, Plantae Labs, Naturex Group, A & Z Group Co. Ltd, Vyomchem Specialities, Unicorn Colors, and Desert King. Garuda International Inc., Ingredion Incorporated, Shaanxi Pioneer Biotech Co., Ltd. and others.
Factors for key players to increase support business prospects, is the rising demand from developing countries for quillaia extract as well as a rise in disposable income levels of population in developing countries. This will contribute to long-term growth of these manufacturers.
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