The new report by Expert Market Research titled, ‘Global Hibiscus Extract Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2021-2026’, gives an in-depth analysis of the global Hibiscus extract market, assessing the market based on its segments like application, form, source, sales channel and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2021-2026)
• Forecast CAGR (2021-2026): 5 %.
Growing awareness of health and increasing consumer preference for natural products are driving the growth of the hibiscus extract industry worldwide. There has been an increase in demand for hibiscus extract in industries such as food and beverage, cosmetics and pharmaceuticals, among others. Growing awareness of the benefits of hibiscus tea is also helping to grow the market. The rising consumer disposable income, the growing retail industry and the increasing demand for herbal dietary supplements are also contributing to the growth of the hibiscus extract industry. Over the forecast era, rising R&D activities on the potential applications of hibiscus extract and increasing demand for organic products are expected to further boost the industry.
Industry Definition and Major Segments
Hibiscus extracts are produced from hibiscus, a genus of flowering plants in the Malvaceae family. Besides its big, colorful flowers, hibiscus is also known for its medicinal uses. Various sections, such as flowers and leaves, can be made into teas and liquid or powdered extracts that can effectively treat a range of health conditions, including high blood pressure and bacterial infections. The most popular variety is Hibiscus sabdariffa, whose red flowers are most commonly cultivated for their medicinal properties and for the preparation of dietary supplements.
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Based on source, the market is bifurcated into:
• Organic
• Conventional
Based on form, the market is divided into:
Bases of sales channel, the market is segmented into:
• Direct Sales
• Retail Sales
Based on application, the industry can be categorized into:
• Food and Beverages
• Pharmaceuticals
• Dietary Supplements
• Cosmetics and Personal Care
• Others
The regional markets for Hibiscus extract include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Based on the application, the cosmetics and personal care segment has a major stake in the industry and is projected to remain dominant in the forecast period as well. Hibiscus flowers are noted for their high antioxidant properties and inhibit the degradation of elastin, resulting in anti-aging effects. As a result, hibiscus extracts are used as a cosmetic raw material and are useful for anti-cellulite and re-firming products and for skin tone formulations. Meanwhile, increasing R&D activities on the therapeutic properties of hibiscus are expected to increase the demand for hibiscus extracts in the pharmaceutical industry. Several studies have shown the therapeutic and anticancer properties of hibiscus extract, which may theoretically be used with chemotherapy as an adjuvant to mitigate chemotherapy-inducing side effects. This is expected to further boost the development of the industry in the coming years.
On regional basis, Asia Pacific is one of the world’s leading producers of hibiscus extract. Hibiscus has been used as a traditional medicine and is of great significance in a variety of countries, such as South Korea, Malaysia and India. Among these, India is one of the leading growers of hibiscus plants, with over 70 varieties that are healthy for human consumption.
Key Market Players
The major players in the market are Xian Shunyi Bio-Chemical Technology Co. Ltd, Wild Hibiscus Flower Co, Ransom Naturals Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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