Quillaia Extract Market touched USD 1,032 million in 2020 and will grow at 5.2% CAGR till 2028 | Size, Share & Forecast
The Quillaia Extract Market was estimated around USD 1,032 million in 2020 and is expected to grow at a CAGR of 5.2% over the forecast period (2021-2028).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/quillaia-extract-market/
The factors driving the growth of Quillaia Extract Market includes increasing application of quillaia extracts in frozen dairy products and puddings, growing demand for functional food items, changing eating habits of consumers and rising focus by manufacturers on using natural additives. According to the report published by Statista, around 150.05 million people in the United States consumed pudding in 2020, this figure is expected to reach 152.86 million by 2024, which will accelerate the Quillaia Extract Market size in the approaching years. Moreover, favorable Government regulations regarding the use of quillaia extracts, expansion of cosmetics and personal care industry, increasing consumers preference for organic products and rise in the launch of innovative products, are some of the additional factors supplementing the Quillaia Extract Market Growth. In addition, the increasing investments by leading players on research and development, growing adoption of advanced technology by manufacturers, strategic partnerships between key industry players and rising population growth rates, are further contributing towards the market growth.
However, rising cases of liver and kidney damage due to overdose of quillaia extracts, is restricting the growth of the Quillaia Extract Market.
The leading players operating in the market are Desert King International, Baja Yucca Company, Chile Botanics S.A, Garuda International, Inc., Naturex S.A, Ingredion International, Puracy LLC, Plantae Labs, Vyomchem Specialities and Stan Chem International Ltd, among others.
Based on Type, the Powder segment is predicted to grow at a robust CAGR during the forecast period
Increasing application of powdered quillaia extracts as foaming agent in root beer and carbonated drinks, is pushing growth of the segment.
Based on Application, the pharmaceutical segment is projected to expand at a higher CAGR over the forecast period
Increasing use of quillaia extracts to treat medical ailments such as athlete's foot, is propelling growth of the segment.
Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period
As per the Quillaia Extract Market Forecast, presence of the leading players such as Desert King International, Garuda International, Inc. and Ingredion International, growing demand for personal care products and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Segmentation by Type
Segmentation by Application
Food & Beverages
Segmentation by Region
Rest of APAC
United States of America
Rest of Europe
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