Psyllium Market: Overview
Psyllium is a rich source of fiber, triglycerides, and protein. It belongs to the Plantaginaceae plant family. Psyllium also contains riboflavin, sodium, aucubin, potassium, ascorbic acid, linoleic acid, beta-carotene, etc. These components make psyllium a perfect ingredient for various medical purposes. Therefore, considering all these factors, the psyllium market may record good growth across the forecast period of 2019-2028.
Psyllium is available in various forms such as seeds, industrial powder, husk, and husk powder and can be consumed according to the requirement. Based on origin, the psyllium market can be classified into conventional and organic.
This report provides a 360-degree analysis of the parameters influencing the growth of the psyllium market. It accentuates on numerous benefit points such as competitive structure, key trends, regional assessment, etc. The segmental study helps the stakeholders understand the different growth aspects of the psyllium market conscientiously. The report also pings pivotal information about the COVID-19 impact on the psyllium market.
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Psyllium Market: Competitive Analysis
The psyllium market is aggressively competitive with many domestic and international players in the fray aiming to gain a position among the top companies. New entrants are increasing the competition to a great extent. Manufacturers in the psyllium market are concentrating on research and development activities for finding new formulations that help in effective end-use.
Mergers, acquisitions, partnerships, joint ventures, and collaborations also form an important part of the growth strategy of the key players in the psyllium market. Key players are also trying to expand their portfolio for providing psyllium across various applications. Key players in the psyllium market are JYOT Overseas Pvt. Ltd., Gayatri Psyllium Industries, BalisanaIsabgol, Premcem Gums Pvt. Ltd., and Satnam Psyllium Industries.
Psyllium Market: Application Insights
The use of psyllium in diverse applications may ping great growth opportunities for the psyllium market.
Animal Feed: Psyllium is used on a large scale as a feed ingredient for horses. It prevents constipation issues prevalent in horses to a great extent, thus pinging good growth prospects for the psyllium market.
Pharmaceuticals: Psyllium is an important component in almost all medicines related to stomach ache, diarrhea, and constipation. It is also used as a thickening agent during capsule formulation. The high fiber content in psyllium assists in lowering of insulin and is therefore considered useful in diabetes treatment.
Dietary Supplements: Psyllium aids in weight loss as it contains viscous compounds that can help in appetite control and weight loss. A study also found that consuming a specific amount of psyllium before peakfast and lunch led to significant hunger reductions, thus leading to weight loss. Hence, the psyllium market may incur good growth across this application.
Biodegradable Films: The use of psyllium in making biodegradable films may add a new dimension of growth. Researchers in India recently developed a biodegradable film with psyllium husk as the main component. Therefore, the discovery of the use of psyllium in novel applications may open new doors of growth opportunities for the psyllium market.
COVID-19: Ayurveda can help in fighting COVID-19 by boosting the immunity of the human body. The use of psyllium in Ayurveda may propel the growth rate of the psyllium market as immunity-boosting Ayurvedic therapies are gaining traction.
Psyllium Market: Geographical Landscape
The psyllium market is geographically segmented into North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), North America, Latin America, and Japan. APEJ may turn out be to a significant growth contributor for the psyllium market as India is the largest producer and exporter of psyllium. North America may also turn out to be a prominent growth contributor due to growing awareness about weight loss. Europe may also prove to be an important growth generating region due to the large demand for industrial husk powder.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.