Forskolin is a substance compound that happens normally in the foundations of the Indian Coleus (Coleus forskohlii)
NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ — Global Forskolin Market Size By Purity (Low, Medium, High), By Application (Allergy Treatment, Weight Management, Respiratory Problems, Cardiovascular Disorders, Glaucoma, Hypothyroidism, Psoriasis , and Others), By End-user (Food and Beverage, Cosmetics, Nutraceuticals, Pharmaceuticals, Dietary Supplements, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global forskolin market is expected to grow from USD 448.6 million in 2021 to USD 889.3 million by 2030, at a CAGR of 7.9% during the forecast period 2022-2030. The multiple health benefits from forskolin are driving the market’s growth. Forskolin helps treat respiratory disorders, digestive disorders, weight management, insomnia, etc., which propels the development of the market. However, the lack of awareness among consumers regarding the advantages of forskolin is restraining the market’s growth, coupled with the rare availability of the plant. Further, the onset of Covid-19 also affected the market’s growth as several manufacturing units were temporarily put on hold to stop the spread of the deadly virus.
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The high purity segment dominated the market with a market value of around 170.4 million in 2021.
The purity type segment is divided into low, medium, and high. The high purity segment dominated the market, with a market value of around 170.4 million in 2021. Product with high purity is high in demand as they are most effective when used by consumers. The high purity products are widely used as dietary supplements, which are widely used to drive the segment’s growth.
The weight management segment is expected to grow at the fastest CAGR of 8.6% over the forecast period.
The application segment comprises allergy treatment, weight management, respiratory problems, cardiovascular disorders, glaucoma, hypothyroidism, psoriasis, and others. Over the forecast period, the weight management segment is expected to grow at the fastest CAGR of 8.6%. The sedentary lifestyle of humans has resulted in weight gain. People these days are concerned about health conditions and are focusing on weight loss to stay healthy and physically fit. This drives the growth of the market in the segment.
The dietary supplements segment dominated the market, accounting for around 125.6 million in global revenue.
The end-user segment is divided into food and beverage, cosmetics, nutraceuticals, pharmaceuticals, dietary supplements, etc. The dietary supplements segment dominated the market, accounting for around 125.6 million in global revenue. Dietary supplements are high in demand among consumers as people are becoming more health-conscious after the covid-19 pandemic, which drives the segment’s growth during the forecast period.
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The market is analyzed based on five regions, namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. During the forecast period, Europe is expected to be the largest market. The forskolin market in Europe has expanded rapidly due to the rising demand for natural personal care products. Increasing socio-demographic trends in Europe increase the demand for natural ingredients in cosmetics, which drives the growth of the forskolin market in the region. The increasing demand for products made from natural ingredients with anti-aging properties is increasing in the region among the aging population, propelling the market’s growth in Europe.
The major players in the market are Alchem International Ltd., Shaanxi JiahePhytochem, Nutra Green Biotechnology, Flavor Trove, Alpspure Lifesciences Pvt. Ltd., Cymbio Pharma Pvt. Ltd., Bioprex Labs, Glentham Life Sciences, Sabinsa Corporation, Varion Lifesciences Pvt. Ltd. among others.
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