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The fenugreek seed extract industry is being driven by the growing demand for healthy and natural ingredients from the West mainly Europe for food and pharma uses. Further, the product is employed as an essential spice in India as well as other countries of the Asia Pacific, thereby supporting the market growth. In addition, the consumption of fenugreek seed extract to reduce dietary fat in obese people is expected to boost the market growth. Moreover, the product is used to induce labour and improve digestion, as a result, invigorating the market growth. Additionally, rising innovations in the fenugreek seed extract industry to reduce its bitterness in order to extend its applications in the food industry is predicted to foster market growth over the forecast period.
The growing competition among the industry key players, like Ambe Phytoextracts Pvt. Ltd. and Bio Botanica, Inc., is aiding the market growth. Additionally, increasing technological innovations to attain high purity, prolonged shelf life, enhanced compatibility to blend with other natural ingredients, and suitability for specific applications of fenugreek seed extract, is predicted to support the market growth over the forecast period. Amazon.com, Inc. (NASDAQ: AMZN), an e-commerce site, dedicated to supply various products at any location with fast delivery. The accessibility of fenugreek seed extract through this distribution channel is expected to propel the market growth over the forecast period.
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Ambe Phytoextracts Pvt. Ltd., Bio Botanica, Inc., Naturalin Bio-Resources Co., Ltd, Nutra Green Biotechnology, among others are the key players in the global fenugreek seed extract market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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