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Global Forskolin Market to Grow at a CAGR of 8% During 2021-2026, Aided by the Rising Demand for Natural Plant Extracts

According to a new report by EMR titled, ‘Global Forskolin Market Report and Forecast 2021-2026’, the global forskolin industry is projected to register a CAGR of 8% over the forecast period of 2021-2026.

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, 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.

Market Breakup by Concentration, Application, End Use, and Regions:

  • Based on concentration, the market can be segmented into low concentration (10%), medium concentration (20%-40%), and high concentration (95%). 
  • On the basis of application, the market is divided into allergy treatment, weight management, respiratory problems, cardiovascular disorders, glaucoma, hypothyroidism, and psoriasis, among others.
  • Based on end use, the industry has been categorised into nutraceuticals, pharmaceutical, and dietary supplements, among others.
  • Region-wise, the global forskolin industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for forskolin is being driven by the increasing demand for products with natural ingredients and the growing health awareness among the consumers.
  • The growing disposable incomes and the rising demand for dietary supplements are significantly contributing to the industry growth. 
  • The advancing pharmaceutical industry and growing R&D activities are further propelling the industry growth. 
  • The market is receiving further impetus with the growing retail sector and rapid technological advancements.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for forskolin for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for concentrations, applications, end-uses, and regional markets of forskolin.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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