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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