Press release
Hibiscus Extract Market- Key Growth Factors and Forecast
Usage of hibiscus extract along with other medications could be harmful, which could be considered as a restraint. Consumption of healthy food products and dietary supplement is trending across the globe.
Hibiscus extract market can be segmented on the basis of form, end-use applications, sales channel, and region.
On the basis of form, hibiscus extract market can be segmented into powder and liquid. Powder segment is expected to dominate the hibiscus extract market over the forecast period, owing to increasing use of powder in the formulation in dietary supplements.
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Hibiscus extract market is segmented on the basis of end-use application into pharmaceuticals, food and beverages, cosmetics and skin care, dietary supplements, and other applications. Other applications include teas, oils, etc. Cosmetics and skin care is expected to account for a significant share over the forecast period.
Hibiscus extract market is further segmented on the basis of sales channel into Direct and retail sales. Direct sales here refers to direct selling of extract as an ingredient to other companies such as food and beverage industries, cosmetics and skin care industries, etc. Retail sales accounts for sales direct to the consumers as an end product. Retail sales is further sub-segmented into drug stores, health specialty stores, online retailers and other retailing formats.
On the regional basis, hibiscus extract market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa (MEA). Asia Pacific accounts for relatively high exports of hibiscus and related products.
Hibiscus is a flowering plant grown natively in warm temperate, sub-tropical and tropical regions across the globe. Hibiscus is well known for its medicinal properties and is of high importance in several countries such as South Korea, Malaysia, India, etc. Hibiscus extract is prepared from the flower and is available in liquid as well as powder form. The extract is widely used for different purposes such as cosmetics and skin care products, pharmaceuticals, dietary supplements, etc. Hibiscus possess anti-oxidants, anthocyanin, and various other plant acids, which are healthy for humans. Hibiscus extract is known for lowering and regulating the cholesterol levels and blood pressure, curing the stomach ailments, etc. Anti-oxidants present in the extract also accounts for reducing the chances of cancer and also helps in curing it. Owing to the health benefits and increasing health consciousness among individuals is expected to fuel the growth of hibiscus extract market.
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Asia pacific accounts for relatively high production of hibiscus comparing to other regions although consumption is low as export is primary focus. Germany and U.S. account for relatively high consumption of hibiscus extract and other products. Increasing health consciousness among consumers has driven their inclination towards natural products as it is proven that naturally occurring products are relatively more better and safe than synthetically produced products.
Some of the prominent global players in hibiscus extract market are bio Actives, MB-Holding GmbH & Co. KG (Martin Bauer Group), Ransom Naturals Ltd, Wild Hibiscus Flower Co, Inovia International, Parchem, Nexira, Anklam Extrakt GmbH and other regional players.
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