Echinacea Extract Market Size By Product (Reagent Grade, Food Grade, Medical Grade, and Others), By Application (Medicine, Food Additives, Dietary Supplements, and Others), By Geographic Scope And Forecast

Echinacea Extract Market Size And Forecast

Echinacea Extract Market was valued at USD 1.47 Billion in 2019 and is projected to reach USD 2.88 Billion by 2027, growing at a CAGR of 8.25% from 2020 to 2027. The growing demand for herbal medicine and products is a major factor boosting the growth of the global Echinacea Market.

The Global Echinacea Extract Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Echinacea Extract Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.

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Global Echinacea Extract Market Definition

Echinacea also is known as purple coneflower is the most popular herb belonging to the daisy family. It is a genus of herbaceous flowering plants is filled with compounds such as rosmarinic acid, flavonoids, and cichoric acid. These compounds function as and help in defending the body against oxidative stress. Echinacea is extensively used against infections including cold & flu, urinary tract, throat, and ear. It is broadly available in pharmacies, health shops, and on online portals as liquid extracts, dried herb, teas, and in the form of capsules and pills, which is expected to augment the Echinacea market growth.

Echinacea is also used by some people to make healthy syrups, baked goods, hair masks, and skin tinctures. Many health & wellness brands have explained the recipe for Echinacea Immune Boosting Syrup. This purple coneflower plant is rich with active substances, which contribute to its therapeutic nature such as glycoproteins, polysaccharides, alkamides, flavonoids, and volatile oils. These beneficial ingredients are found in the roots, leaves, and petals of the plant, which are frequently dried and then added to Echinacea products. Today, the Echinacea plant is cultivated and added to wide-ranging products such as anti-aging cream, cold remedies, shampoo, face masks, makeup, deodorants, perfumes, and much more.

Global Echinacea Extract Market Overview

The growing demand for and products is a major factor boosting the growth of the global Echinacea Market. This is mainly because the consumption behavior of people is shifting toward nutritious and healthy products and thus, robust growth is witnessed in herbal products over the past few years. Echinacea is gaining recognition in the healthcare industry as it offers numerous health benefits. This is another factor propelling the growth of the Echinacea Market. For instance, Echinacea benefits in lowering blood sugar levels boosting immunity to combat viruses & infections, reducing feelings of anxiety, treating common skin concerns, and may protecting against cancer. The increasing spending on health & wellness and the growing prevalence of chronic conditions amongst geriatrics are also some of the factors fuelling the growth of the global Echinacea market.

The emerging trend of grooming and the rising disposable income are ultimately helping in increasing demand for . The increasing investments in research & development and the recent technological advancements to develop herbal (Echinacea) medicines and Echinacea products such as cosmetics and others are creating lucrative growth opportunities in the global market. However, the lack of skilled labor coupled with increasing cultivation costs is a major restraint to the growth of the global Echinacea Market. Echinacea cultivation requires skilled labor and it is a long-term investment process regarding time and money.

Global Echinacea Extract MarketSegmentation Analysis

The Global Echinacea Extract Market is segmented on the basis of product, application, and geography.

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Echinacea Extract Market, By Product

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Based on Product, the market is bifurcated into Reagent Grade, Food Grade, Medical Grade, and Others. Medical Grade accounted for the largest market share in 2019. Echinacea is blessed with several health-promoting benefits. The herb is extensively used for medicinal applications. The medical-grade Echinacea is tested for use in medical applications, such as pharmaceutical and medicinal products for biocompatibility.

Echinacea Extract Market, By Application

On the basis of Application, the Global Echinacea Extract Market has been segmented into Medicine, , , and Others. Medicine accounted for the largest market share in 2019. Echinacea extract is extensively used as herbal medicine to fight infections, particularly for the treatment of common cold, upper respiratory infections, and the flu. Echinacea extract is also used in medicine to fight against several other infections such as vaginal yeast infections, urinary tract infections, human papillomavirus (HPV), herpes, nose and throat infections, and many others.

Echinacea Extract Market, By Geography

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On the basis of regional analysis, the Global Echinacea Extract Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America dominated the Global Echinacea Extract Market in 2019, followed by Europe.

Echinacea ingredients are used as a herbal remedy in the U.S. and Canada and also widely consumed in pills, liquid extracts, teas, capsules, dried herbs, and dietary supplements. Echinacea purpurea is the native plant of the U.S. has naturalized itself in the parts of Canada. Hence, people in this country use the ingredients of this plant to heal many conditions such as flu & colds and also to boost the immune system.

Key Players

The “Global Echinacea Extract Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Nutraceutical (Solaray), Jamieson Wellness Inc., Nature’s Way Products, LLC, Bioforce AG, Xi’an Rainbow Biotech Co., Ltd, Shaanxi Jintai Biological Engineering Co, Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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