The echinacea extract global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Echinacea Extract Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The echinacea extract market size has grown rapidly in recent years. It will grow from $1.81 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increasing consumer interest in natural remedies, growing awareness of health benefits, rising demand for dietary supplements, expanding herbal medicine market, increasing research and development activities, and higher availability of echinacea extract products.
The echinacea extract market size is expected to see rapid growth in the next few years. It will grow to $3.12 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to a growing trend towards preventive healthcare, increasing adoption of echinacea in skincare products, expanding applications in pharmaceuticals, rising popularity of organic products, increasing disposable income, and the growing influence of social media marketing. Major trends in the forecast period include the expansion of e-commerce and online retail channels, development of innovative echinacea-based formulations, new extraction and processing technologies, and integration of echinacea extract in beauty and cosmetic products.
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Scope Of Echinacea Extract Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Echinacea Extract Market Overview
Market Drivers –
The growing demand for dietary supplements is expected to propel the growth of the echinacea extract market going forward. Dietary supplements are products intended to supplement the diet by providing nutrients, such as vitamins, minerals, herbs, or amino acids, in concentrated forms. The growing demand for dietary supplements is driven by increasing health consciousness and consumers’ desire for preventive health measures. Echinacea extract is used in nutritional supplements to support the immune system and help reduce the duration of colds and other respiratory infections. For instance, in October 2023, according to the survey of 3,192 adults conducted by the Council for Responsible Nutrition, a US-based trade association for the dietary supplement and functional food industry, 74% of U.S. adults are taking dietary supplements, and user confidence in the perceived quality of sports nutrition supplements increased by 5% points to 66% compared to 2022, while confidence in the weight management category rose by 4% points to 56% from 2022. Therefore, the growing demand for dietary supplements will drive the growth of the echinacea extract market.
Market Trends –
Major companies operating in the echinacea extract market are focusing on developing herbal medicines and echinacea products, such as anti-aging skincare technology, to reduce wrinkles and sagging by boosting skin plumpness and firmness. Anti-aging skincare technology derived from echinacea extracts aims to enhance skin plumping and reduce signs of aging by stimulating fat production. For instance, in March 2024, Biocogent LLC, a US-based personal care and cosmetic product provider, launched the Volpura EPO. This technology is derived from Echinacea purpurea, a botanical extract that helps combat signs of aging by enhancing the skin’s natural plumping processes, addressing wrinkles and sagging from within to promote a fuller, more youthful appearance. It works by stimulating adipocytes (fat cells) and increasing fat production up to five times through the activation of PPAR-γ, the master regulator of adipogenesis, resulting in improved plumping and firmness. Versatile and stable at temperatures up to 85°C, Volpura EPO can be incorporated into hot pour and hot cast products like lipsticks, lip balms, and lip glosses.
The echinacea extract market covered in this report is segmented –
- By Type: Reagent Grade, Food Grade, Medical Grade, Other Types
- By Echinacea Extract Form: Liquid, Capsule, Powder
- By Application: Medicine, Food And Beverages, Dietary Supplements, Ornamental, Beauty Products, Essential Oils, Other Applications
- By Distribution Channel: Online Stores, Retail Stores, Hypermarket Or Supermarket, Herbal Specialty Stores
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Regional Insights –
North America was the largest region in the echinacea extract market in 2023. The regions covered in the echinacea extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the echinacea extract market are Symrise AG, Nature’s Bounty Inc., Dr. Willmar Schwabe GmbH & Co. KG, Nature’s Way Products LLC, Jamieson Wellness Inc., NOW Foods Inc., Indena S.p.A., Schwabe North America Inc., Gaia Herbs Inc., Integria Healthcare Pty Ltd., Bio-Botanica Inc., Traditional Medicinals Inc., Solgar Inc., Bluebonnet Nutrition Inc., Herb Pharm LLC, Jarrow Formulas Inc., Oregon’s Wild Harvest Inc., Martin Bauer Group, Nutralion Inc., Gonmisol Inc., Solaray Inc., Sambucol Ltd
Table of Contents
- Executive Summary
- Echinacea Extract Market Report Structure
- Echinacea Extract Market Trends And Strategies
- Echinacea Extract Market – Macro Economic Scenario
- Echinacea Extract Market Size And Growth
….. - Echinacea Extract Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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