Home > Food & Beverages > Echinacea Market
Echinacea Market Size
Echinacea Market size is slated to depict a robust growth rate from 2024 to 2032, impelled by the surging demand for natural, organic, and herbal ingredients in food & beverage products, cosmetics, as well as pharmaceuticals. The onset of COVID-19 pandemic has augmented the need for a whole range of immunity-boosting ingredients. A distinctive growth is being observed in herbal products as consumer consumption behavior is shifting towards healthier options.
Also known as purple coneflower, echinacea is one of the most popular herbs used to treat various ailments. It is gaining significant prominence as an over-the-counter herbal remedy for flu and common cold. Furthermore, food, pharmaceutical, and health & wellness brands are increasingly utilizing echinacea as a natural and organic ingredient in baked goods, healthy syrups, skin tinctures, hair masks, and other products. The growing awareness about the benefits associated with the use of echinacea as an effective solution in treating pain, migraines, inflammation, and other health problems will boost the market demand.
However, the market growth may face challenges due to the limited scientific consensus on the effectiveness of echinacea, variability in product quality, potential side effects, and the rising competition from other immune-boosting supplements.
Echinacea Market Trends
Many research studies over the years have shown that echinacea can have a positive effect on the immune system while helping maintain optimum blood sugar levels and reduce the feelings of anxiety, alleviate skin concerns, and even offer protection against cancer. According to research results published by NCBI in 2023, in adults with acute RTI, novel Echinacea formulations with greater doses resulted in quicker viral clearance than traditional preventive formulations.
A dosage increase during acute respiratory symptoms may improve the therapeutic efficacy of orally given Echinacea formulations. Increasing awareness of such health benefits has led to the widespread adoption of foods, cosmetics, and medications enriched with echinacea, further accelerating the industry expansion.
Echinacea Market Analysis
In terms of product, the echinacea industry from the medical grade segment is anticipated to witness high demand up to 2032, driven by its proven immune-boosting properties and increasing adoption in healthcare settings. Medical grade echinacea formulations, such as capsules, tinctures, and extracts, are gaining popularity for their efficacy in supporting immune system health. They are widely used in hospitals, clinics, and pharmacies for preventing and managing respiratory infections and cold symptoms. Additionally, the growing focus on natural remedies and holistic healthcare approaches will propel the industry demand.
Based on application, the echinacea market from the dietary supplement segment is projected to generate substantial revenue by 2032. The escalating popularity of echinacea as a natural immune-boosting supplement is driving its inclusion in a wide range of dietary supplements, such as capsules, tablets, and powders. Furthermore, several key players are expanding their dietary supplement offerings to address the rising consumer demand for preventive health solutions like echinacea supplements for immune support.
North America echinacea market is set to exhibit considerable growth between 2024 and 2032, due to increasing consumer awareness of its immune-boosting properties and the rising demand for natural health remedies. With a growing preference for herbal supplements, Echinacea products are becoming popular choices for immune support in the region. Moreover, the well-established healthcare infrastructure and robust regulatory framework across major American countries will also contribute to the market expansion.
Echinacea Market Share
Key echinacea industry players are taking significant efforts in product innovation, research, and strategic marketing to widen their product portfolio. They are developing new echinacea formulations and educating consumers about the health benefits to gain competitive edges. To illustrate, Nature's Bounty has been actively catering to the increasing consumer demand through its diverse product portfolio, strategic partnerships, and commitment to quality.
Some of the leading companies operating in the echinacea industry are-
- Nature’s Bounty (Bountiful Co)
- Ancient Green Fields
- Now Foods
- Jarrow Formulas
- Gaia Herbs
- Solgar Inc.
Echinacea Industry News
In April 2023, Ayana Bio, a plant cell technology firm developing sustainable bioactives for consumer products, introduced plant cell-cultivated lemon balm and echinacea wellness and health ingredients for the U.S. market