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The growing demand for natural plant extracts with anti-oxidant properties for use in food, dietary supplements, and cosmetic products is aiding the growth of the forskolin industry. The pharmaceutical and nutraceutical companies are also looking for possible alternatives over synthetic ingredients owing to the growing consumer demand. With the growing popularity of dietary supplements, the manufacturers are making the products available in different forms, including extracts or concentrates, along with other forms such as tablets, capsules, soft gels, gel caps, liquids, powder, or bars. The stringent government regulations to meet the needs of the health-conscious consumers are aiding the market growth. The manufacturers and marketers of herbal supplements must achieve regulatory compliance to ensure the health and safety of the consumers. Some of the major companies in the industry include Sabinsa Corporation, and Nutra Green Biotechnology Co., Ltd.
The growing investments in the R&D activities by the manufacturers is aiding the industry growth. In January 2021, Sabinsa Corporation announced that its parent company, Sami Labs inaugurated a USD 30 billion state-of-the-art production facility in India to expand existing ingredient growth and focus on adding new products in the portfolio. Moreover, the growing e-commerce sector is resulting in enhanced sales of dietary and nutrition supplements for bodybuilding and fitness. The e-commerce giants like Amazon.com, Inc. (NASDAQ: AMZN), and Alibaba Group Holding Limited (NYSE: BABA), among others, are expanding their global reach and targeting potential markets. Such developments are expected to positively impact the global forskolin industry growth over the forecast period.
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The major players in the global forskolin market are Sabinsa Corporation, Nutra Green Biotechnology Co., Ltd., Varion Lifesciences Pvt. Ltd., Alchem International Pvt Ltd, and Cymbio Pharma Pvt Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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