Global Centella Asiatica Extract Market Size By Form, By Distribution Channel, By Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Centella Asiatica Extract Market Size By Form, By Distribution Channel, By Application, By Geographic Scope And Forecast
Centella Asiatica Extract Market Size And Forecast
Centella Asiatica Extract Market size was valued at USD 401 Million in 2023 and is projected to reach USD 581 Million in 2030growing at a CAGR of 3.4% during the forecasted period 2024 to 2030.
Global Centella Asiatica Extract Market Drivers
The market drivers for the Centella Asiatica Extract Market can be influenced by various factors. These may include
Growing Consumer Awareness of Natural and Herbal Products Demand for herbal extracts such as Centella Asiatica is predicted to increase as customers grow more health-conscious and look for natural alternatives. Its claimed health advantages, like as its antioxidant and anti-inflammatory qualities, add to its allure.
Growing Need in the Cosmetics and Skincare Sector Because of its possible anti-aging and skin-renewing qualities, centella asiatic extract is frequently utilised in cosmetics and skincare products. The market for Centella Asiatica Extract is anticipated to be driven by the growing demand for natural and plant-based components in the beauty and personal care industry.
Growing Interest in Traditional Medicine Centella Asiatica has been used traditionally for a very long time, especially in Asian nations. Worldwide interest in complementary and alternative medicine practices is growing, which raises the need for plant extracts with possible health advantages.
Research and Development The study of Centella Asiatica and its bioactive substances is still ongoing, and it may yield new benefits and applications that increase the demand for the plant on the market. Research examining new applications and confirming its conventional uses can stimulate market expansion.
Growth of the Nutraceutical Sector The demand for Centella Asiatica Extract as a dietary supplement may be driven by the nutraceutical sector, which focuses on goods that provide health advantages above and beyond basic nutrition. The market may expand as a result of consumers searching for natural cures and preventative healthcare choices.
Incorporation in Functional Foods and Beverages Because Centella Asiatica Extract may have health-promoting qualities, its use in functional foods and beverages has the potential to expand the market. Producers might look into creative ways to add the extract to a range of goods.
Global Wellness movement The desire for natural components like Centella Asiatica may be influenced by the general wellness movement, which emphasises mental, emotional, and physical well-being. The market may expand as a result of consumers looking for goods that support a holistic approach to wellness.
Global Centella Asiatica Extract Market Restraints
Several factors can act as restraints or challenges for the Centella Asiatica Extract Market. These may include
Restricted Supply Chain and Cultivation Difficulties Growing Centella Asiatica may present difficulties due to soil and climate requirements. Restricted locations for cultivation and possible disturbances in the supply chain may affect the cost and accessibility of Centella Asiatica Extract.
Problems with Quality Control and Standardisation Differences in plant sources, growing environments, and extraction techniques can make it difficult to maintain consistent quality and standardisation of Centella Asiatica Extract. For market participants, ensuring product quality and adhering to regulations may provide challenges.
Competitive Environment and Pricing Pressures As Centella Asiatica Extract becomes more well-known, suppliers and manufacturers may face more intense rivalry. Reduced profit margins and pricing pressure may result from this, particularly if the market is oversupplied.
Regulatory Difficulties The laws governing herbal extracts can be complicated, with different states having different requirements. There may be difficulties in following rules and getting the required permissions for the usage of Centella Asiatica Extract in various sectors.
Perceived Lack of Scientific Validation Despite Centella Asiatica Extract’s long history of use, certain sectors and consumers may continue to look for additional scientific proof of the extract’s potential health benefits. A dearth of thorough studies or convincing proof in some areas could prevent wider acceptance.
Safety and Allergen Concerns Some people may respond negatively to herbal extracts due to allergies. For Centella Asiatica Extract to be accepted by the market, particularly in the food and cosmetics sectors, it is imperative that its safety be guaranteed and that any potential allergens be addressed.
Restricted Knowledge in Some Areas Although Centella Asiatica has been used for a long time in some Asian nations, other areas may have less knowledge and acceptance of the plant. Where there is less familiarity with the plant or no strong cultural attachment, market expansion might happen more slowly.
Dependency on External variables The availability of Centella Asiatica can be impacted by external variables that create market uncertainty, such as changes in the environment, plant illnesses, or geopolitical unrest in important growing regions.
Global Centella Asiatica Extract Market Segmentation Analysis
The Centella Asiatica Extract Market is Segmented on the basis of Form, Distribution Channel, Application, And Geography.
Centella Asiatica Extract Market, By Form
Liquid Extracts Refers to Centella Asiatica Extract in liquid form, commonly used in skincare products, herbal tonics, and beverages.
Powder Extracts Involves powdered forms of Centella Asiatica Extract, often used in the production of capsules, tablets, and powdered drink mixes.
Centella Asiatica Extract Market, By Distribution Channel
Online Retail Includes the sale of Centella Asiatica Extract through e-commerce platforms.
Offline Retail Encompasses traditional brick-and-mortar retail outlets such as pharmacies, health food stores, and supermarkets.
Centella Asiatica Extract Market, By Application
Cosmetics and Skincare Products Includes Centella Asiatica Extract used in creams, lotions, serums, and other skincare formulations for its potential skin-renewing and anti-aging properties.
Pharmaceuticals and Nutraceuticals Involves the use of Centella Asiatica Extract in pharmaceutical formulations and nutraceutical products, such as dietary supplements, due to perceived health benefits.
Functional Foods and Beverages Pertains to the incorporation of Centella Asiatica Extract into functional food and beverage products for its potential health-promoting properties.
Centella Asiatica Extract Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Key Players
The major players in the Centella Asiatica Extract Market are
Guangxi Changzhou Natural Pharmaceutical
Frank Biochem Co., Ltd.
Sabinsa Corporation
Lipoid Kosmetik AG
Basf
Indena S.p.A.
Himalaya
SD Biotechnologies Co., Ltd
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Guangxi Changzhou Natural Pharmaceutical, Frank Biochem Co Ltd, Sabinsa Corporation, Lipoid Kosmetik AG, Basf, Himalaya, SD Biotechnologies Co Ltd.
SEGMENTS COVERED
By Form, By Distribution Channel, By Application, And By Geography.
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