Lovage Extract Market: Introduction:
Lovage or Levisticum officinale is a perennial plant found I all of Europe and some parts of the southwestern Asia. The Lovage plant is widely used as an herb in the European countries. The lovage extract produce has a celery aroma which is used in soups as and flavoring agent. The exact native range is disputed; some sources cite it as native to much of Europe and southwestern Asia, others from only the eastern Mediterranean region in southeastern Europe and southwestern Asia, and yet others only to southwestern Asia in Iran and Afghanistan, citing European populations as naturalized. The leaves can be used in salads, or to make soup or season broths, and the roots can be eaten as a vegetable or grated for use in salads. Its flavor and smell is somewhat similar to celery. The seeds can be used as a spice, similar to fennel seeds. The celery aroma and taste of the lovage extract are used in food and beverage industry. The lovage extract is a good source of natural flavor. The lovage extract is also used in alternative medicine industry to treat gastrointestinal disorders. The herbal and alternative market for food and beverage and pharmaceutical is booming globally and lovage extract is anticipated to show dynamic growth in terms of trade.
Lovage Extract Market: Segmentations:
The lovage extract market can be segmented on the basis of the origin of product, form, and application.
On the basis of the origin of the product, the lovage market can be segmented into root and shoot. The root extracts are used to prepare meds and the shoot extract is used as salad dressing and flavor spice. Also, the seeds are extracted and dried to produce spices.
On the basis of form, the lovage extract market can be segmented into powder, liquid, and paste. The lovage extract powder and paste are used for flavoring and spice and the liquid lovage extract are mainly used in the pharmaceutical application and also, in beverage too.
On the basis of application, the lovage industry can be segmented into spice, flavoring agent, and alternative medicine. The lovage extract from leaves contains an excellent aroma and is used for flavoring. The lovage extract from root contains essential oils and have a lot of medicinal use. The lovage extract obtained from seeds are excellent spice for salad dressing.
Lovage Extract Market: Region-wise Outlook:
The North America and Europe are key regions for the lovage extract market because of the dynamic growth of the herbal spice and flavoring market in the region. Increasing awareness of the alternative medicines has also created impact in the Asia pacific and the MEA regions. In near future, this region will create a healthy demand for the lovage extract products.
Lovage Extract Market: Drivers and Restraints:
The plant properties of the lovage make it a good alternative of the celery plant. The yield produced from one plant is more than one celery plant and hence is more cost efficient. This a main driver of the lovage extract market as it is a cheaper and efficient alternative of the celery in every sector. The medicinal property of the lovage extract will also give the manufacturers an alternative market other than the agricultural to play. Both this points ensure a dynamic growth in the near future of the market.
The lack of awareness on the demand side may hamper the business of the lovage extract. If not taken care may act as a restrain in the lovage extract market.
Lovage Extract Market: Key Players:
The key global players of lovage extract market are Changsha Vigorous-Tech Co., Ltd, Carrubba Inc, Aunutra Industries Inc, Bio Botanica Inc, Frutarom Ltd, Horner International Co, AND Vege Tech Co. The companies are expected to expand their business by enhancing their product portfolio in global lovage extract market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global lovage extract market till 2025.