Alfalfa is a perennial herb which is being used for centuries as naturopathy plant for the treatment of various diseases such as diabetes control, cholesterol control, pregnancy and lactation, and control hormonal changes. Alfalfa extract are available in the various form which includes powder, syrup, and tablets. Alfalfa contains abundant vitamins, minerals and proteins which is highly used in the manufacture of the herbal product for humans and it is used as feed for the livestock. Alfalfa has abundant bioactive compound such as coumarins, alkaloids, saponins, phytoestrogen, flavonoids, and phytosterols.
Alfalfa is used as an ingredient for the preparation of many herbal medicines as it is naturally high in many essential vitamins and minerals which includes vitamin A, D, E, K and B complex vitamins, calcium, folic acid, iron and magnesium and alfalfa extract contain high protein content.
Alfalfa extract market: segmentation
Alfalfa extract market is segmented on the basis of application which includes pharmaceutical industry, food and beverage industry. Pharmaceutical industry chiefly utilizes alfalfa extract for the manufacture of medicines which helps in the treatment of many health conditions like sugar control, increase urine flow, high cholesterol and asthma.
Alfalfa extract market is segmented on the basis of form which includes solid, powder, and liquid. Alfalfa extract in solid form are available as tablets, capsules and alfalfa hay cubes. In liquid form alfalfa extract are available as syrup and juice which helps in control blood sugar, hormonal control and control allergic reactions.
Alfalfa extract market is segmented on the basis of the nature of the product which includes natural and organic. Organic food has minimal side –effect as compared to the traditionally grown alfalfa that is grown using harmful pesticides and herbicides.
Alfalfa extract market is segmented on the basis of the end use which includes retail and industrial. The retail segment is further sub-segmented as distribution channel which includes online stores, and specialized stores.
Alfalfa market: regional outlook
Alfalfa is majorly grown in North America, Europe, and Asia-Pacific region. North America is the leading producer of alfalfa as it is used majorly in the production of biofuel. Huge capital investment is being done on the research for using alfalfa for biofuel production and to improve the efficacy of the fuel. Also North America is the leading exporter of the alfalfa. The region exports alfalfa to japan, middle-east and Africa. In Asia pacific region, China and India possess deep penetration for alfalfa extract as these region use this extract for utilizing its medicinal properties.
Alfalfa extract market: drivers
Alfalfa extract are required in abundance by the pharmaceutical industry and dairy industry as it is used majorly for the manufacture of the medicines and forage food. The major drivers for the alfalfa extract may include the increasing demand for the dairy product, increase in demand for the forage food, cure for health conditions like asthma, diabetes and hormonal imbalance. Not only can this but the use of alfalfa extract in the biofuel production is also expected to fuel alfalfa extract market during the forecast period.
Alfalfa extract market: Restraints
Alfalfa extract manufacture is mainly limited to North America, Europe and Asia-Pacific. Although there are a lot of manufactures in China and U.S. who are exporting Alfalfa extract in global market but poor distribution channel is a major setback for Alfalfa extract market. Alfalfa extract has been introduced to the new potential markets like Middle-east, but the lack of proper advertisement and information among the consumers and buyers is a significant restraint for alfalfa extract market.
Alfalfa extract market: key players
The key players in the alfalfa extract market are Desialis, Gaia Herbs, Mountain Rose Herbs, Shining Mountain Herbs, Phyt's USA, Alive Organic Sdn Bhd and Equinox Botanicals.
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