Notoginseng Root Extract Market: Overview
Notoginseng root extract is derived from the root of the notoginseng plant. Notoginseng is an herb primarily grown for blood-circulation related issues. In traditional Chinese medicine, notoginseng is often used together with other herbs to halt both internal and external bleeding, although the effects are mostly attributed to notoginseng itself.
Experimental findings have provided support to other effects, such as anti-inflammatory, anti-fibrotic, immunostimulatory, neuroprotective, of notoginseng as well. The effect on bleeding is, however, more complicated. There is mounting evidence that notoginseng possesses both pro-hemostatic and anti-hemostatic properties.
In terms of value, the global Notoginseng Root Extract market is expected to reach a market value of US$ 432.8 Mn by the end of 2028, with an anticipated CAGR of 3.4% over the forecast period. The drivers for the growth of the Notoginseng Root Extract market include a growing increase in health-conscious consumer demographics, increase in demand for health supplements, rising applications of Notoginseng extract in the personal care industry, incorporation of Notoginseng in pharmaceuticals, and increased demand for plant-based products.
Global Notoginseng Root Extract Market: Drivers
Increase in Health-Conscious Consumer Demographics Continues to Drive the Growth for Notoginseng Root Extract Market
The rise in health awareness among consumers has become a significant driver for redirecting the health supplements market. Consumers are preferring the use of healthy products, and are willing to pay more if a product provides health benefits. Notoginseng has anti-inflammatory and antioxidant properties and also improves the immune system. The use of Notoginseng-based health supplements has resulted in the improvement of heart health and cognitive function of the brain, has anti-cancer effects, etc. These benefits derived from Notoginseng might help increase its demand among health-conscious consumers.
Incorporation of Notoginseng Root Extract in Health Supplements Driving Significant Growth
With a global expansion of the health food market, Notoginseng is considered to have the potential for market expansion. Until now, the ginseng market maintained the premium around Asia based on traditional efficacy. However, if a variety of products and marketing appropriate for the international market and customers are developed along with scientific research on the efficacy, the value could expand beyond Asia and to the world in the future.
The demand for health supplements has increased at a very high rate as the fitness trend is rising and millennials are leading the charge for it. As ginseng supplements are organic and provide various health benefits, the demand for them is expected to increase.
Surge of Notoginseng in Personal Care Industry
The use of Notoginseng in personal care products is emerging at the global level. Ginseng is used in various beauty products such as moisturizers, serums, essences, softeners, cleansers, etc. Notoginseng has antioxidant properties which help to cure dry and damaged skin. It also has an anti-aging property and helps reduce the wrinkles.
The use of ginseng in cosmetic products is expected to increase as it is safe when compared with chemical cosmetics. Therefore, all these factors might enable an increase in the ginseng market.
Use of Notoginseng in Pharmaceuticals
Notoginseng provides various benefits including traditional Chinese medicines for promoting blood circulation, treating traumatic injuries, healing of minor scrapes and cuts, improve the flow of nutrients in children, treating and preventing heart disease, among more, when incorporated in pharmaceuticals.
The use of Notoginseng in pharmaceuticals has witnessed a substantial upsurge. Increasing demand for Notoginseng-based pharmaceuticals is expected to provide a significant boost to the market.
Increased Demand for Plant-based Products
The consumer preference for healthy and ethically produced plant products has increased. It is expected that the demand for plant-based products will increase. The use of plant-based products reduces the risk of diseases that are transmitted through other conventional or man-made products.
This leads to an increase in the demand for notoginseng, because plant-based notoginseng extracts are safe to use, and can be incorporated into various supplements, personal care and cosmetic products, pharmaceutical products, etc.
E-commerce to Increase Consumer Reach and Product Penetration
E-technologies are continuously and increasingly deployed throughout the supply chain of notoginseng root extract. E-commerce has become an important platform which has benefited both manufacturers and consumers, and not just in procuring but in getting specifics of the product too.
Manufacturers of notoginseng root extract can promote and sell their product on a global platform and can connect with a much broader consumer base through online retailing. Consumers have the transparency to compare the products and their prices at the same platform providing them ease of decision making. The growing E-commerce is thus leading to an increasing market for notoginseng root extract.
High Cultivation Cost with No ROI for Mimimum Four Years
Once cultivated notoginseng usually take about four years to grow ultimately. Also, notoginseng cultivation requires a lot of money and has no investment return for around 4 to 5 years, which makes it less attractive for farmers. This factor might reduce the production of ginseng. A decrease in production may lead to a fluctuation in the price of notoginseng, which may affect the industries using notoginseng and its products.
Notoginseng Root Extract Market: Introduction
The proposed market report of TMR on the global notoginseng root extract market evaluates the opportunities in the current scenario, and provides the latest updates and detailed insights corresponding to different segments involved in the global notoginseng root extract market during the forecast period 2018-2028. The notoginseng root extract market report further indicates the estimated data for 2018, and forecast data up to 2028 in terms of value (US$ Mn) and volume (MT).
The present study exhibits the market dynamics and trends of the notoginseng root extract market in regions such as North America, Latin America, Europe, China, Asia Pacific Excluding China, and the Middle East and Africa. The report includes the market growth drivers and challenges for the global notoginseng root extract market, and their impact on each region during the forecast period. The report also comprises the study of the drivers, restraints, threats, and opportunities for the notoginseng root extract market to provide a substantial view. It also includes the value chain analysis and opportunity analysis of the market.
Notoginseng Root Extract Market: Report Description
The report explores the global notoginseng root extract market for the period 2018-2028. The principal objective of the notoginseng root extract market report is to provide insights into key developments in the market that are constantly supporting the transformation of global businesses that are associated with notoginseng root extract. It is very important to consider that, in an ever-wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition to the Compound Annual Growth Rate (CAGR) for the overall forecast, to better understand the analysis and evaluation of the global notoginseng root extract market, and to discover justifiable opportunities.
The unique key feature of this report is that, the evaluation of the global notoginseng root extract market and its relative revenue forecast is carried out in terms of absolute dollar opportunity. This is usually not considered while forecasting overall market value. Absolute dollar opportunity analysis is very crucial in evaluating the intensity of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global notoginseng root extract market.
The notoginseng root extract market report starts with an elaborate executive summary, the market definition of various segmentations that are included, and their respective shares in the notoginseng root extract market. The report also provides insights regarding the major macroeconomic factors that have a significant effect on the growth of the notoginseng root extract market. The market report further emphasizes the various dynamic factors that influence the notoginseng root extract market, which include the drivers, restraints, opportunities, and trends in the global notoginseng root extract market.
The report further underlines the study of the present issues with industrial processing, and opportunities for the notoginseng root extract market. It also includes value chain analysis that provides a comprehensive view of the overall profitability from the raw material supplier to the final end user in the notoginseng root extract market. In order to give users a clear view of the global notoginseng root extract market, we have exhibited a competitive analysis of key market participants and their strategic developments.
The competitive dashboard presents a detailed comparison of global manufacturers of notoginseng root extract on vital parameters such as product portfolio, total revenue, key developments, and key strategies. The study presents the notoginseng root extract market attractiveness analysis by end use, form, and region.
To analyze the overall market size of notoginseng root extract, the report on the notoginseng root extract market considers various preliminary aspects based on secondary research. Furthermore, it highlights quantitative estimation such as market share by end use, form, and region, and other qualitative data from primary respondents, which have been integrated to arrive at unambiguous and accurate market estimations. The forecast presented in the notoginseng root extract market report arrives at the total revenue being generated, and the expected revenue contribution in the future by the global notoginseng root extract market.
Detailed profiles of various companies that manufacture notoginseng root extract are included in the report to evaluate their developmental strategies, product offerings, and recent developments, as they have a significant role in the notoginseng root extract market. Major market players covered in the notoginseng root extract market report are Now Foods, Imperial Elixir, Nature's Health, Puritan's Pride Ginseng Complex, Umeken Good Morning RG, Swanson Korean, The Garden of Natural Solution, Marutaka Pulse Co., Ltd., and SBL.
Notoginseng Root Extract Market: Segmentation
The subsequent sections analyze the global notoginseng root extract market on the basis of region, end use, and form
On the Basis of End Use, the Market for Notoginseng Root Extract is Segmented as-
- Health Supplement Products
On the Basis of Form, the Market for Notoginseng Root Extract is Segmented as-
On the Basis of Region, the Market for Notoginseng Root Extract is Segmented as-
- North America
- Latin America
- Rest of Latin America
- United Kingdom
- Rest Of Europe
- Asia Pacific Excluding China
- South Korea
- Rest of APEC
- Middle East & Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA