Manufacturers
of Notoginseng Root Extract Focusing on Penetration into Health Supplements
Category
With
reference to the latest market forecast report published by Transparency Market
Research, titled 'Notoginseng Root Extract Market: Global Industry Analysis and
Opportunity Assessment 2018-2027', revenue generated from the global notoginseng root extract market has been estimated to be valued around
US$ 308.6 Mn in 2018, which is expected to increase at a CAGR of 3.4% to US$
432.8 Mn by 2028
Notoginseng
root extract is derived from the roots of the Panax notoginseng. The extract of
notoginseng root is commercially available in two forms; Powder and Liquid.
Panax notoginseng is also used to relieve pain, and to reduce swelling and
blood pressure. It is also used for chest pain (angina), strokes and bleeding
in the brain, buildup of fat in the blood vessels, heart attacks, and some
kinds of liver disease.
It is also used to improve energy and ability to exercise, to
reduce muscle soreness following exercise, and for osteoarthritis and
rheumatoid arthritis. Owing to its multiple applications in industries such as
cosmetics, pharmaceuticals, and health supplements, the global market for
notoginseng root extract is expected to register a healthy CAGR over the
forecast period.
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Target Segments for the Notoginseng Root
Extract Market
The global notoginseng root extract market is segmented on the
basis of end-use, form, and region. On the basis of end use, the global
notoginseng root extract market is segmented into pharmaceuticals, cosmetics,
and health supplement products. The segment, health supplement products is
expected to be the dominant one with a market share of about 60%. The growing
health and dietary supplements industry is one of the significant factors
behind the increased demand for notoginseng root extract.
On the basis of form, the global notoginseng root extract market
is segmented into powder and liquid. The powder segment is anticipated to
dominate the form segment of the notoginseng root extract market with a market
share of around 65% in the year 2018. The applications of powdered form of
notoginseng root extract are widespread. The notoginseng root extract powder is
incorporated in health supplement products and pharmaceuticals.
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Target Geographies
for Notoginseng Root Extract
The notoginseng root extract market has been segmented into
North America, Latin America, Europe, China, Asia Pacific Excluding China, and
the Middle East and Africa (MEA). China is dominating the market share by far
with more than 65% in the year 2018. However, the growth in China is anticipated
to be moderate as it is already a mature market. Latin America is expected to
be the most attractive market with a CAGR of 5% over the forecast period.
Besides, increasing use of notoginseng root extract in cosmetics
and pharmaceuticals in the region is further powering the growth for
notoginseng root extract market. Europe is also one of the regions to look out
for. The notoginseng root extract market in Europe is expected to be lucrative
for years to come owing to the increased consumption of health supplements.
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The notoginseng root extract market in North America is
estimated to offer maximum growth prospects with a growth rate of 4% over the
forecast period. The import of notoginseng root extract in North America has
increased significantly in the last few years. The incorporation of the
notoginseng root extract in pharmaceuticals and various health supplements have
certainly helped the market in growing.
Global Notoginseng
Root Extract Market: Competitive Assessment
Transparency Market Research has outlined the most important
companies that are players in the global notoginseng root extract market, such
as NOW Foods, Imperial Elixir, Nature's Health, Nutra Champs, Puritan's Pride
Ginseng Complex, Umeken Good Morning RG, Swanson Korean, The Garden of Natural
Solution, and Marutaka Pulse Co., Ltd.
Manufacturers of health supplements are incorporating the
notoginseng root extract in their products owing to the multiple benefits it
provides including anti-aging properties, reduces swelling and blood pressure,
improvement of blood circulation, curing of heart disease, and curing chest
pains, among more. Manufacturers are also finding more efficient technologies
and methods for extracting the notoginseng root extract to enhance the
nutritional aspects of the product.
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