Echinacea Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3665
Echinacea Market size is likely to increase in the forecast period owing to growing awareness about its health benefits, and consumer shift towards healthy and nutritious products. It is herbal in nature and highly nutritious, thus finds widespread usage in food & beverage industry in the form of juices & teas which help boost immune system and uplift mood. It is also used as an antibiotic to fight urinary tract, blood, and vaginal infections, thereby entering herbal healthcare industry.
Echinacea is a popular herb, a genus of herbaceous flowering plants in daisy family, filled with compounds that functions as antioxidants including cichoric acid, flavonoids, and rosmarinic acid, which defend human body against oxidative stress. Echinacea is widely used against infections including urinary tract, ear, throat and cold & flu. It is widely available in health shops, pharmacies, online portals as teas, dried herb, liquid extracts, and in the form of pills and capsules which may enhance echinacea market growth.
Echinacea is widely used for widely used in providing wide range of medicinal benefits such as to improve immunity, reduce anxiety, control blood sugar, inflammation, skin health, and anti-cancer properties. It is also used as a dietary supplement for infections, and common cold. Echinacea is applied to the skin for skin problems and wounds; and help repair skin’s protective thin outer layer, reduce wrinkles, and improve skin hydration. It is extensively used as a supplement in treatment of numerous types of cancer as it slows down the growth of malevolent tumor cells, thus blocking the cancer’s ability to spread. It helps strengthen the immune system and repair damaged cells. In 2018, world cancer research fund stated that globally around 2 million women suffered from breast cancer, which is likely to rise in the forecasted period owing to increasing consumption of alcoholic drinks and changes in lifestyle patterns, which should rise echinacea market demand.
Echinacea holds applications in pharmaceutical, food & beverage, cosmetics and livestock industry. It minimizes the growth of Propionibacterium which causes acne, on account of its anti-inflammatory and anti-bacterial properties. Global skin care market size is likely to surpass USD 180 billion by 2024 owing to rising skin care concerns. Increasing demand for natural, organic, and herbal products providing minimal skin damage is further predicted to boost echinacea market growth.
Europe echinacea market size driven by France, Italy, UK, and Germany is likely to increase owing to rise in consumption of herbal supplements, thereby proposing opportunities for the product to enter into beauty product manufacturers in Europe, especially in Germany. Europe herbal beauty products market size is predicted to surpass USD 2.5 billion by the forecasted timeframe on account of increasing demand for green cosmetics products at reasonable prices. Regional herbal beauty products market witness foremost trends including long-lasting herbal cosmetics products, shifting preference of consumers towards multipurpose, and specialized products, which should boost product demand.
Asia Pacific echinacea market size led by China, India and Japan may see a significant growth owing to rising adoption of conventional medicine for prevention of several diseases, large aged population base, and emergent exports of herbal products. India and China are the main exporters of herbal products with China accounting for major revenue share in Asia Pacific, valued at around USD 600 million in 2017 owing to increased geriatric population, higher dependence on traditional medicines, and occurrence of chronic situations. The regional market is likely to rise owing to increasing lifestyle diseases from westernization of diets, rise in consumption of alcohol & tobacco, and reduced physical activities.
North America led by Mexico, Canada, and U.S. echinacea market demand is predicted to increase over the forecasted period owing to its medicinal uses such as treating viruses that cause sore throats, colds, and flu. They are used as herbal remedy in Canada and U.S., widely consumed in teas, pills, capsules, liquid extracts, and dried herbs which increase number of white blood cells, to fight infections. American botanical council 2017 stated that U.S. herbal product market size surpassed USD 5 million, which is likely to boost market demand in the forecasted timeframe.
Echinacea is safe and well tolerated for short term, but it has several side-effects including upset stomach, rashes, asthma and Anaphylaxis. People with autoimmune diseases and allergic to echinacea, are advised to avoid its consumption, which is likely to hamper the echinacea market demand.
Echinacea market share is significantly competitive and the key players operating in the market are Solgar, Gaia Herbs, Jarrow Formulas, Nature’s Bounty, Now Foods, and Ancient Green Fields. The vendors are investing enormous capital to develop new and progressive product to achieve a competitive advantage and are investing on technology to meet the demand for better herbal medicine, to cater the needs of customers, and market participants with better goodness of nature.
Echinacea Market, By Product Type, 2014-2025 (Tons) (USD Million)
Echinacea Market, By Application, 2014-2025 (Tons) (USD Million)
- Food & beverage
- Essential oils
Echinacea Market, By Form, 2014-2025 (Tons) (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Adept Impex
- Swiss Natural
- Zebrago Industrial CoHilverdaKooij B.V. Mijnsherenweg
- Greenwoods Herbal Extract Co. Limited
- Nutra Green Biotechnology
- KingherbsEUSA COLORS
- Bio-Botanica, Inc
- Maat Nutritionals
- Jarrow Formulas
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