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Echinacea Extract Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Echinacea Extract Market Insights
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According to The Business Research Company's, The echinacea extract market size has grown rapidly in recent years. It will grow from $1.81 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increasing consumer interest in natural remedies, growing awareness of health benefits, rising demand for dietary supplemen*ts, expanding herbal medicine market, increasing research and development activities, higher availability of echinacea extract products.
The echinacea extract market size is expected to see rapid growth in the next few years. It will grow to $3.12 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to a growing trend towards preventive healthcare, increasing adoption of echinacea in skincare products, expanding applications in pharmaceuticals, rising popularity of organic products, increasing disposable income, and the and the growing influence of social media marketing. Major trends in the forecast period include expansion of e-commerce and online retail channels, development of innovative echinacea-based formulations, development of new extraction and processing technologies, and integration of echinacea extract in beauty and cosmetic products.
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Major companies operating in the echinacea extract market are focusing on developing herbal medicines and echinacea products, such as anti-aging skin care technology, to reduce wrinkles and sagging by boosting skin plumpness and firmness. Anti-aging skin care technology derived from echinacea extracts aims to enhance skin plumping and reduce signs of aging by stimulating fat production. For instance, in March 2024, Biocogent LLC, a US-based personal care and cosmetic product provider, launched the Volpura EPO. This technology is derived from Echinacea purpurea, a botanical extract that helps combat signs of aging by enhancing the skin's natural plumping processes, addressing wrinkles and sagging from within to promote a fuller, more youthful appearance. It works by stimulating adipocytes (fat cells) and increasing fat production up to five times through the activation of PPAR-?, the master regulator of adipogenesis, resulting in improved plumping and firmness. Versatile and stable at temperatures up to 85°C, Volpura EPO can be incorporated into hot pour and hot cast products like lipsticks, lip balms, and lip glosses.
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Major Key Players of the Market:
Symrise AG, Nature's Bounty Inc., Dr. Willmar Schwabe GmbH & Co. KG, Nature's Way Products LLC, Jamieson Wellness Inc., NOW Foods Inc., Indena S.p.A., Schwabe North America Inc., Gaia Herbs Inc., Integria Healthcare Pty Ltd., Bio-Botanica Inc., Traditional Medicinals Inc., Solgar Inc., Bluebonnet Nutrition Inc., Herb Pharm LLC, Jarrow Formulas Inc., Oregon's Wild Harvest Inc., Martin Bauer Group, Nutralion Inc., Gonmisol Inc., Solaray Inc., Sambucol Ltd
Echinacea Extract Market 2024 Key Insights:
• The echinacea extract market size is expected to see rapid growth in the next few years. It will grow to $3.12 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%.
• Growing Demand For Dietary Supplemen*ts To Drive Echinacea Extract Market Growth
• Revolutionary Anti-Aging Technology Enhances Skin Plumpness And Firmness With Echinacea Extract
• North America was the largest region in the echinacea extract market in 2023
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