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The market for rhodiola rosea extract is being driven by the rising awareness about the product for its ability to effectively lessen the mild to moderate level of depression in comparison to the placebo drug. Further, in 2012, the European Medicines Agency or EMA stated rhodiola rosea extract based medicinal products as adaptogen, which has since boosted the market demand for the product in the historical period. The extracts of rhodiola rosea have been standardised by several manufacturers and are promoted as a natural adaptogen in the market. Thereby, enhancing the market growth of the product over the forecast period.
PLT Health Solutions is the leading key player in the rhodiola rosea extract industry. In 2019, the company developed a verification project for Rhodiola rosea L by partnering with renowned companies like Botanical Liaisons, LLC and NaturPro Scientific, LLC. This programme was started to verify the rhodiola rosea extract which is being supplied from the USA inventory of the company. In 2017, the American Botanical Council published a report on the adulteration of the ingredient. The company has since taken the initiative to provide high quality rhodiola rosea extract by developing an ingredient identity verification programme. This is expected to boost the market growth over the forecast period due to a stronger trust in the product. The product is available on Amazon.com, Inc. (NASDAQ: AMZN), iherb.com, and select natural retailers, which help in boosting the sales of the product.
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Organic Herb Inc, PLT Health Solutions, Xi'an Greena Biotech Co.,Ltd., and AdvaCare Pharma, among others, are the key players in the global rhodiola rosea 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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