Press release
Safflower Extract Market Set to Surge Significantly by 2026
Major drivers of the Safflower extract market is the rising demand of processed foods. The increasing demand for organic and natural ingredients in processed foods is a very important driving factor. Other very important factor for the growth in safflower extract market is the multi-functionality of the product such as medicinal and colorant property. This replaces a lot of other products used in processed foods which can cause ill effects to human health. In various studies, it is found that safflower can cause adverse effect such as bleeding problems (hemorrhagic diseases, clotting disorders and intestinal ulcers), allergy, increase in sugar level in diabetic patients and miscarriages leads to restraining the market of safflower oil. The major factors which are trending the demand of safflower extract are heath consciousness of people, demand for organic food, growing cosmetic industry, etc.
There is an opportunity for companies in this industry to expand their product in transgenic safflower plant extract for producing human insulin which is having major demand in the market.
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Safflower extract market is segmented on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Middle East & Africa (MEA) and Japan. The leading producers of safflower extract are India, The United States and Maxico followed by Ethiopia, Kazakhstan, China, The Arab World, Argentina, Tanzania and Australia. More than 60 countries produce safflower plant but India is having half of the market share of the safflower extract mainly for domestic vegetable oil market.
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The key players in safflower extract market includes Naturalin, Quality Product Lab Pvt. Ltd., New Way Herbs, EPC Natural Products Co. Ltd., Shanghai Youngsun foods, Cibaria International, Aktivv LLP, Ramazanogullari, Global oil trading and services, Quality brands, Galp distribution oil Espana, Algodones Y Aceites Mexicanos, Los Charitos, etc.
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