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The global tribulus terrestris extract industry is being driven by the growing consumer preference for plant based dietary supplements among the health-conscious consumers. The tribulus terrestris extract can be found in two forms, that is, liquid and powdered extract. Among these, the powdered form is widely utilised to produce the product in various convenient dosage forms like derived capsules and tablet formulation, among others. The plant based supplements are also gaining immense popularity among athletes to enhance endurance and gain muscle mass. On the basis of region, North America is expected to significantly contribute to the growth of the plant extracts industry, which, in turn, will propel the demand for tribulus terrestris extracts in the forecast period.
The growing innovations to attract health conscious consumers are expected to significantly contribute to the market growth. Further, the consumption of natural products is associated with little to no risk, thus, resulting in increased demand for the product. The growth of the e-commerce industry and the easy availability of tribulus terrestris based supplements through online platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA) are expected to significantly contribute to the market growth over the forecast period.
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The major players in the global tribulus terrestris extract market are The Green Labs LLC., Nutra Green Biotechnology Co.,Ltd., Foodchem International Corporation, Naturalin Bio-Resources Co., Ltd., and Arjuna Natural 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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