The global Kava root extract market size likely to expand in the forthcoming years concludes Fortune Business Insights™ in its report titled "Kava Root Extract Market 2021-2028".
Kava root is the root of the Kava plant, which is native to the South Pacific region. The plant is primarily found in Micronesia, Macaronesia, and Polynesia. The cover root extracts are used in Oceania as medicine and ceremonial drinks. This root is available in liquid and powder form. The liquid root is prepared by the grinding and grating process, after which the pulp is soaked in cold water and coconut milk. It is primarily used to treat wounds, skin diseases, and urinary tract diseases. The demand for the product is high across the pharmaceutical and food & beverage sectors. This is owing to its health-benefiting properties, such as providing pain relief and muscle relaxation.
COVID-19 Impact
Temporary Shutdown of Industries to Impact Production Drastically
The COVID-19 pandemic has impacted the market drastically. The supply chain of the root extract and trade flow was disrupted due to the lockdown. The international sellers and distributors were hit with the border closures as exports and imports were temporarily halted. However, the COVID-19 pandemic has resulted in a rise in demand for this extract for this root's health benefits. The anti-anxiety properties of this root have also increased its demand even with high retail prices.
Market Segmentation
The market is divided into Kava root powder extract and Kava root liquid extract under type. Then it is divided into food & beverage, pharmaceutical, cosmetics & personal care, and others by the end-use industry. Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The global market for Kava root extract report contains key emerging trends in the market. It studies the various mergers and acquisitions, partnerships, and other collaborations to understand and predict the market trend. The report is enriched with the latest advancement in technological terms as well as information on regulatory scenarios. The report is prepared with Porter's five forces analysis to give an enriched experience. The report studies various market segments and regional analysis to predict future growth. The strategies provided by expert analysts into the various avenues not yet ventured into the market.
Driving Factor
Increasing Adoption of Natural Medicine to Favor Market Growth
As per the World Health Organization (WHO), the medicinal herbs market is worth USD 60 billion. Pharmaceutical companies are shifting towards medicinal plants and herbs in the last decade leading to considerable investment in this industry. Kava is used as a supplement by various consumers and is preferred for its naturally developed process. The Kava root extract is attributed to some key health impacts such as anti-anxiety, better sleep, immunity-boosting properties, cancer-fighting properties, etc. Therefore, the increasing adoption of the product to manufacture natural medicines is expected to contribute to the global Kava root extract market growth in the forthcoming years.
Regional Insights
Europe to Remain at Forefront; Increasing Demand from Food & Beverage to Aid Growth
Europe is expected to hold a substantial global Kava root extract market share in the forthcoming years. This growth is due to the rising demand for kava in the food & beverage industry.
The liquid Kava is in high demand as a non-alcoholic beverage in North America that propels the demand for the product in the region.
The market in Asia Pacific is expected to showcase considerable growth during the forecast period. This is attributable to countries such as India and China being the leading root extract consumers in the pharmaceutical industry. Moreover, the growing demand for kava in medicines and capsules is anticipated to positively boost the product demand in the region.
Competitive Landscape
Key Players to Focus on Offering High-Quality Kava Products to Strengthen Their Market Positions
The leading market players are effectively putting their efforts and investment into offering high-quality products in Kava root extract. They are focused on product innovation to gain an advantage in the global market share. For instance, Oregon wild harvest offers extracts free from stearates, binders, gluten, peanuts, corn, excipients, or soy allergens. Key players are also investing in expanding their business and product portfolio to gain ground in this market. For example, in countries like Brazil, Israel, India, and others, the kava market is minimal due to a lack of awareness. Key players can effectively flourish in these regions by efficiently marketing and expanding in these regions. Various mergers, collaborations, and acquisitions in this market define this market's competitive landscape.
Source:
https://www.fortunebusinessinsights.com/kava-root-extract-market-103694
