Manufacturers of Notoginseng Root Extract Focusingon Penetration into Health Supplements Category
With reference to the latest market forecast report published byTransparency Market Research, titled 'Notoginseng Root Extract Market: GlobalIndustry Analysis and Opportunity Assessment 2018-2027', revenue generated fromthe global notoginseng root extract market hasbeen estimated to be valued around US$ 308.6 Mn in 2018, which is expected toincrease at a CAGR of 3.4% to US$ 432.8 Mn by 2028
Notoginseng root extract is derived from the roots of the Panaxnotoginseng. The extract of notoginseng root is commercially available in twoforms; Powder and Liquid. Panax notoginseng is also used to relieve pain, andto 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, heartattacks, and some kinds of liver disease.
It is also used to improve energy andability to exercise, to reduce muscle soreness following exercise, and forosteoarthritis and rheumatoid arthritis. Owing to its multiple applications inindustries such as cosmetics, pharmaceuticals, and health supplements, theglobal market for notoginseng root extract is expected to register a healthyCAGR over the forecast period.
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Target Segments forthe Notoginseng Root Extract Market
The global notoginseng root extractmarket is segmented on the basis of end-use, form, and region. On the basis ofend use, the global notoginseng root extract market is segmented intopharmaceuticals, cosmetics, and health supplement products. The segment, healthsupplement products is expected to be the dominant one with a market share ofabout 60%. The growing health and dietary supplements industry is one of thesignificant factors behind the increased demand for notoginseng root extract.
On the basis of form, the globalnotoginseng root extract market is segmented into powder and liquid. The powdersegment is anticipated to dominate the form segment of the notoginseng rootextract market with a market share of around 65% in the year 2018. The applicationsof powdered form of notoginseng root extract are widespread. The notoginsengroot extract powder is incorporated in health supplement products andpharmaceuticals.
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Target Geographiesfor Notoginseng Root Extract
The notoginseng root extract markethas been segmented into North America, Latin America, Europe, China, AsiaPacific Excluding China, and the Middle East and Africa (MEA). China isdominating 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 amature market. Latin America is expected to be the most attractive market witha CAGR of 5% over the forecast period.
Besides, increasing use ofnotoginseng root extract in cosmetics and pharmaceuticals in the region is furtherpowering the growth for notoginseng root extract market. Europe is also one ofthe regions to look out for. The notoginseng root extract market in Europe isexpected to be lucrative for years to come owing to the increased consumptionof health supplements.
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The notoginseng root extract marketin North America is estimated to offer maximum growth prospects with a growthrate of 4% over the forecast period. The import of notoginseng root extract inNorth America has increased significantly in the last few years. Theincorporation of the notoginseng root extract in pharmaceuticals and varioushealth supplements have certainly helped the market in growing.
Global NotoginsengRoot Extract Market: Competitive Assessment
Transparency Market Research has outlinedthe most important companies that are players in the global notoginseng rootextract market, such as NOW Foods, Imperial Elixir, Nature's Health, NutraChamps, Puritan's Pride Ginseng Complex, Umeken Good Morning RG, SwansonKorean, The Garden of Natural Solution, and Marutaka Pulse Co., Ltd.
Manufacturers of health supplementsare incorporating the notoginseng root extract in their products owing to themultiple benefits it provides including anti-aging properties, reduces swellingand blood pressure, improvement of blood circulation, curing of heart disease,and curing chest pains, among more. Manufacturers are also finding moreefficient technologies and methods for extracting the notoginseng root extractto enhance the nutritional aspects of the product.
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