Garcinia Cambogia Market size is anticipated to witness healthy growth during 2023 to 2032, owing to the growing instances of obesity and intestine-related problems worldwide. The rising consumption of junk food and the inadequacy of physical activities have led to a greater need to enhance metabolism and cardiovascular health. Robust product adoption across the dietary supplement and pharmaceutical sectors due to the prevalence of various diseases will act as a promising prospect for market progression.
Garcinia cambogia is a small tropical fruit that enhances overall health. The mounting consumer health and hygiene awareness will also add an edge to the product demand spurt. Technological advancements and innovation are set to be a key in enhancing the product performance and expanding its application in various industries.
The Russia-Ukraine war is sending tremors to drug exporters, which is projected to adversely impact pharma companies and the total volume of exports this fiscal year.
In terms of form, the garcinia cambogia market share from the powder segment is predicted to accrue substantial gains through 2032, attributed to the increasing focus of consumers on weight loss. Powdered garcinia cambogia is preferred as it is easy to digest and has immediate effects. A higher obligation for safe-to-consume and natural ingredients will further drive the consumption of powdered products.
Based on distribution channels, the garcinia cambogia market size from online channels segment is slated to observe notable growth till 2032, driven by the numerous advantages these channels have to offer. The online platform not only renders a wide product variety to the consumers but also saves time while providing convenience and safety. The strong need for e-commerce businesses to increase their customer base while effectively managing customer data will add positive impetus to the segmental growth.
The use of garcinia cambogia across the pharmaceutical sector is expected to expand with the rising prevalence of diabetes and gastrointestinal disorders. Garcinia cambogia marks extensive penetration to relieve intestinal problems, enhance rheumatism, and lower appetite and cholesterol levels. It also aids in multiplying red blood cells while reducing the rate of oxidant-induced hemolysis. Increasing adoption to boost the serotonin levels in the brain will enhance the pharmaceutical application outlook of the industry.
North America garcinia cambogia market will gain remarkable momentum during the forecast timeline, on account of expanding intake of fast foods in the region. The U.S. is also home to an expanding obese population. According to credible reports, approximately two out of three U.S. adults are overweight or obese, and one out of three are obese. Increasing product penetration to curb cholesterol and fat levels is another major trend contributing to the regional market expansion.
Some of the leading companies involved in the garcinia cambogia market are Himalaya (Himalaya Global Holdings Ltd.), Hi-Tech Pharmaceuticals, Inc., Natrol (Jarrow Formulas, Inc.), NOW Foods, Healthawin, PureNutria, Nutririse, BioGanix, and Nature Wise. These companies are resorting to various strategic measures, such as capacity expansions, acquisitions, mergers, and marketing investments, to reinforce their presence in the highly competitive market.
For instance, in January 2022, Natrol and Jarrow Formulas, two leading vitamin and supplement brands, partnered to form a new entity, Vytalogy Wellness (Vytalogy). Both firms are striving to be better positioned to set the course for modern wellness.