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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.
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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.
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