Overview and Scope
Kava root extract is a concentrated form of the kava plant’s root used for its potential relaxation and anti-anxiety effects. It is derived from the underground parts of the plant, which contains kava lactones that have sedative properties.
Sizing and Forecast
The kava root extract market size has grown rapidly in recent years. It will grow from $1.18 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to traditional and cultural use, stress and anxiety management, pharmaceutical and nutraceutical applications, herbal remedies market growth, ethnobotanical research and awareness.
The kava root extract market size is expected to see rapid growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to growing natural remedies market, expansion of functional beverages, regulatory framework development, e-commerce and global accessibility, increased focus on mental health. Major trends in the forecast period include innovations in delivery formats,clinical research and validation, integration with lifestyle products, collaborations with wellness brands, cognitive health focus.
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Segmentation & Regional Insights
The kava root extract market covered in this report is segmented –
1) By Type: Kava Root Powder Extract, Kava Root Liquid Extract
2) By Nature: Organic, Conventional
3) By Application: Food And Beverage, Cosmetics And Personal Care, Pharmaceuticals, Other Applications
North America was the largest region in the kava root extract market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kava root extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising demand from the pharmaceutical industry is expected to propel the growth of the kava root extract market going forward. The pharmaceutical industry refers industry involved with a pharmacy or the production and sale of medicines. Kava root extract is used in pharmaceuticals for the treatment of anxiety, insomnia, and related mental illnesses, as well as stress and anxiety relief and sleep enhancement. For instance, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $351 billion (€300,000 million) in 2021, with an increase of approximately 5% from $335.2 billion (€286,697 million) in 2020. Also, R&D investment in the Spanish pharmaceutical business reached 1,267 million euros in 2021, a 9.2% increase over the previous year, 2020. Therefore, the rising demand from pharmaceuticals is driving the growth of the kava root extract market.
Key Industry Players
Major companies operating in the kava root extract market report are NOW Health Group Inc., Natrol LLC, Gaia Herbs Inc., Mountain Rose Herbs, Natural Factors Nutritional Products Ltd., Bolise Co. Limited, Herb Pharm LLC, Nature’s Answers Inc., Botanic Healthcare Pvt. Ltd., LifeSeasons Inc., Oregon’s Wild Harvest, Kona Kava Farms, Fiji Kava Australia Ltd, Muddy Waters Kava Inc., Taos Herb Company, Monsoon Beverages LLC, Pure Mountain Botanicals, Pacific Island Kava LLC, Root Of Happiness, Best Nutrition Products Inc., Kavafied LLC, Botany Evolution LLC, Electic Institute, Kava Kauai, Kava King Products Inc., Kalm with Kava
The kava root extract market report table of contents includes:
1. Executive Summary
2. Kava Root Extract Market Characteristics
3. Kava Root Extract Market Trends And Strategies
4. Kava Root Extract Market – Macro Economic Scenario
5. Global Kava Root Extract Market Size and Growth
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32. Global Kava Root Extract Market Competitive Benchmarking
33. Global Kava Root Extract Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Kava Root Extract Market
35. Kava Root Extract Market Future Outlook and Potential Analysis
36. Appendix
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