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Global Garcinia Cambogia Market to Grow at a CAGR of 3.80% During 2022-2027, Aided by the Increasing Demand for Plant-Based Supplements

According to a new report by EMR titled, ‘Global Garcinia Cambogia Market Report and Forecast 2022-2027’, the market attained a value of about USD 110.22 million in 2021. The market is further expected to grow at a CAGR of 3.80% in the forecast period of 2022-2027 to reach a value of approximately USD 137.86 million by 2027.

The overall market demand is being driven by the rising number of research and development activities in the pharmaceutical and dietary supplement industries, fuelled by a surge in the incidences of chronic diseases and ailments. Moreover, the product also finds widespread usage in food and dietary supplements to aid with weight loss and intestinal problems. This is due to the presence of hydroxycitric acid in garcinia cambogia, which acts as an appetite suppressant, thereby reducing the urge to eat more. In this regard, the rising issues of obesity, as a result of reduced physical activity and increased fast food intake, are expected to bolster the market growth in the forecast period.

NatureWise, one of the leading players in the market, offers a formula with 60% HCA (hydroxycitric acid) for its garcinia cambogia supplement to support weight management. This supplement is made with vegetable cellulose capsules and is compatible with most vegan diets. Furthermore, the facility at which this product is manufactured has been cGMP (current Good Manufacturing Practices) certified and is audited for quality control by independent organisations including UL, NSF, and NPA. Meanwhile, the growing availability of garcinia cambogia-based supplements across e-commerce channels such as Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is also expected to provide lucrative growth opportunities for the market growth in the forecast years.

Market Analysis by Form, Application, Distribution Channel, and Region:

  • The market, on the basis of form, can be divided into powder, liquid, and capsules and tablets.
  • Based on application, the industry can be divided into dietary supplements, and pharmaceuticals, among others.
  • On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, medical stores, and online stores, among others.
  • The regional markets for garcinia cambogia include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for dietary supplements and pharmaceutical products is driving the market growth.
  • The rising incidences of diabetes, obesity, and gastrointestinal ailments are further propelling the demand for garcinia cambogia-based supplements owing to their health benefits. 
  • The increased availability of a range of plant-based products, including garcinia cambogia, across e-commerce channels is also augmenting the industry growth.
  • The escalating awareness about the health benefits associated with garcinia cambogia is further bolstering the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for garcinia cambogia for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the forms, applications, distribution channels, and regions of garcinia cambogia.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global garcinia cambogia market are NatureWise, NOW Health Group Inc., Bioganix, The Himalaya Drug Company, and NutriRise, 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 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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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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