Stinging Nettle Market Outlook
Stinging nettle is a plant which is commonly known as urtica dioica across the globe. Stinging nettle belongs to urticaceae family and is a native plant of Europe region. The stinging nettle plant has a long history of use as a raw material for textile, tea, food and traditional medicines. People of Asia Pacific region has been using stinging nettle root for the treatment of urine related problems such as frequent urination, inability to urinate, nighttime urination, irritable bladder and painful urination. Stinging nettle root extract is used to make astringent and is also as a diuretic for joint ailments. Many pharmaceutical manufacturers across the globe are looking forward towards the incorporation of stinging nettle extract in their products, owing to its wide range of pharmaceutical application and health benefits offered by the stinging nettle extract. The demand from the cosmetic industry for stinging nettle has also witnessed an upsurge in demand as it is helpful in making anti-aging creams and hair loss treatment products.
Intuitive Marketing Strategy Boosting the Sales of Stinging Nettle
Consumption of antibiotics per capita is increasing on the backdrop of the increase in healthcare expenditure and out of pocket pharmaceutical spending. Low and middle income countries are growing in terms of per capita disposable income, and this factor is boosting antibiotic consumption in these countries. The consumption of antibiotics has shown a significant rise in BRICS countries in the last decade; some antibiotics are available over the counter in these countries. Needles to says, stinging nettle supplement manufacturers have also adopted a targeted approach in these countries, and have invested in marketing efforts. These factors collectively are expected to support the overall demand for stinging nettle supplements across the globe.
Global Stinging Nettle: Market Segmentation
On the basis of form, the global stinging nettle market has been segmented as –
On the basis of packaging type, the global stinging nettle market has been segmented as –
- Jars & Containers
- Dropper bottles
On the basis of nature, the global stinging nettle market has been segmented as –
On the basis of source, the global stinging nettle market has been segmented as –
On the basis of end use, the global stinging nettle market has been segmented as –
- Dietary Supplement
- Food & Beverage
On the basis of sales channel, the global stinging nettle market has been segmented as –
- Medical Stores
- Specialty Stores
- Online Stores
Global Stinging Nettle Market: Key Players
Some of the major manufacturers and suppliers operating in the global stinging nettle market are: NOW Health Group, Inc., Solgar Inc., Herb Pharm, LLC., Enzymatic Therapy, Inc., Swanson Health Products, Inc., Solaray, Inc., Good Herbs, Inc., Amalth Lifecare Pvt. Ltd., Hawaii Pharm LLC and Red Moon Herbs.
Opportunities for Market Participants for Stinging Nettle
Companies operating in the stinging nettle market could focus on expanding its reach in the untapped Mediterranean markets in order to enhance its business of stinging nettle over the forecast period. Consumer these days are looking for handy packaging solution for any product they buy, hence manufacturers across the globe could focus on offering stinging nettle in convenient packaging formats in order to enhance a large consumer base. The limited knowledge and awareness of medical practitioners along with low penetration of stinging nettle supplements across wider non-urban clusters is limiting the stinging nettle supplement industry to unfold its potential. Consumer purchasing power and per capita healthcare expenditure in these countries are also increasing year on year, thereby creating a pool of potential targets for stinging nettle manufacturers and suppliers. The rural population is over 60% of the total population in developing countries, and absence from the shelves of retail and pharmacy outlets is poised to restrict the growth of the stinging nettle industry. Hence knowledge based advertisement could act as an opportunity for manufacturers entering the stinging nettle market over the forecast period.
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