Rhodiola Rosea Extract Market Key Growth Drivers
Mostly, the root of rhodiola rosea plant is used for extract and the active constituents in the root are phenylpropanoids, flavonoids, monoterpernes, triterpenes and phenolic acids. Extracts of rhodiola rosea has been standardized by many manufacturers and is advertised as natural adaptogen in the market. Furthermore, rhodiola rosea extract is one of the most popular natural adaptogen in the market, hence major extract producers include rhodiola rosea extract in their product portfolio. Increasing popularity of rhodiola rosea extract based product in the developed market due to the trend of using natural dietary supplements & herbal medicine and the aggressive advertisement by herbal medicine manufacturers are driving the global rhodiola rosea extract market.
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On the basis of nature of product rhodiola rosea extract is segmented as organic rhodiola rosea extract and conventional rhodiola rosea extract. The organic rhodiola rosea extract is expected to draw significant attention among health conscious consumer in developed markets and subsequently act as a driving factor for the rhodiola rosea extract market growth globally. Rhodiola rosea extract is segmented on the basis of form which includes liquid extract and powder extract. Powder extract segment is expected to build a steady increase in market demand attributed to its diversity in use. Rhodiola rosea extract is also segmented on the basis of end use application which includes dietary supplements and cosmetics.
Rhodiola rosea extract is popularly used for relieving fatigue, increasing attention span, relieving stress, anxiety and decreasing irritability. Furthermore, rhodiola rosea extract is also used to increase productivity and provide resistance to high altitude sickness. Also, in 2012 the European Medicines Agency (EMA) published a report in which rhodiola rosea was categorised as an adaptogen, which will further increase the growth of global rhodiola rosea extract market. All these factors are expected to contribute towards the growth rhodiola rosea market thus acting as drivers. However, the commercial demand rhodiola rosea is mainly fulfilled by wildly grown plants and the increasing demand has led to overharvest rhodiola rosea thus resulting in shortage of raw material which will subsequently increase the price of rhodiola rosea extract based products. Furthermore, associated side effects of rhodiola rosea extract such as hypersalivation, restlessness, insomnia and agitation are expected to restrain the growth of global rhodiola rosea extract market over the forecast period.
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Europe is expected to represent major market value share over the forecast period followed by APEJ and North America, owing to favourable geographical condition as rhodiola rosea plant is indigenous to these regions. Furthermore, in APEJ especially, China and in Europe countries such as Denmark, Norway, and Sweden rhodiola rosea extract is used traditionally as a medicine. However in North America, rhodiola rosea extract based product got popularity in the past decade due to its associated health benefits which has been proved by some clinical studies and hence resulted in an increased traction of rhodiola rosea extract based products in the market.
Some of the key player in rhodiola rosea extract market are Nutra Industries Inc, Changsha Organic Herb Inc., MB-Holding GmbH & Co. KG, Amax NutraSource, Inc, Xian Yuensun Biological Technology Co.,Ltd, PLT Health Solutions, Inc., Xi'an Greena Biotech Co.,Ltd., among others.
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