Lovage Extract Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1999
Lovage Extract Market size is expected to witness a surge in demand owing to increase in consumer awareness regarding health consciousness and its extensive utilization in pharmaceutical industry. Increasing health issues associated with indigestion, stomach bloating, heart burn and intestinal gas will propel lovage extract market size.
It is a member of the parsley family and is widely used in medical herb in Europe and Asia. Its dark green leaves are similar to cilantro, while the stalks look similar to celery. The herb is sweeter in taste but stronger than celery. The product provides a number of health benefits including fighting harmful organisms, improves kidney and joint health, that in turn will support lovage extract market growth.
Originally a native to the Mediterranean region of Southern Europe and Asia Minor areas, it was brought from Europe as both medicine and food product. Now it grows wild in several regions of the U.S. including the Great Lakes, New Mexico, Wyoming, New England and Colorado. For centuries, it has been used a good ingredient to add to love potions. In fact, the Germans named it, Liebstöckel meaning "stem of love".
Rising cultivation in Europe for the distillation of essential oils will drive lovage extract market. It is highly effected as a food product due to its well-drained soil richness in humus. It prefers a pH range of 5.0 to 7.6.
Increasing health issues concerning yellowed skin (jaundice), fluid around the lung (pleurisy), irregular menstrual periods, malaria, migraine headaches, joint pain (rheumatism), sore throat and gout will support product penetration as a medicine in the pharmaceutical industry. It is even used as an expectorant to release phlegm in respiratory conditions. These superior properties are anticipated to fuel lovage extract market size over the forecast period.
Based on origin, lovage extract market is classified into shoot and root. Shoot is used as flavor spice and salad dressing, while root is used to prepare medicine. Even, its seeds are removed and dried to prepare several species used in sauces, pickles, biscuits and breads.
On the basis of form, lovage extract market is categorized into liquid, powder and paste. The powder and paste forms are extensively used in flavoring and spice formulations. Its liquid form is mostly used in several pharmaceutical and beverages applications.
The product has various applications in form of spice, flavoring agent, and alternative medicine. It contains an excellent aroma that is very effective as a floating agent. Its root consists essential oils and have a lot of medicinal use.
North America dominates overall lovage extract market owing to increasing consumption of the food component in European styled cuisines. This increase in consumption will offer new potential opportunities to several producers to expand their product portfolio in the industry. The U.S. is the largest contributor in the regional lovage extract market growth as it has the largest consumer base for the product.
Europe is the fastest growing lovage extract market owing to increasing consumer consciousness regarding medicinal benefits. Strong application potential in food & beverages industry of root form used as a vegetable or grated for use in salads will be a significant driving factor for lovage extract market growth in the region.
Global lovage extract market is slightly concentrated due to presence of few major industry players. Most of the organizations focuses on product development through heavily investing in advance research processes. Key industry players are Changsha Vigorous-Tech Co., Ltd, Carrubba Inc, Aunutra Industries Inc, Bio Botanica Inc, Frutarom Ltd, Horner International Co, and Vege Tech Co. Other prominent players include Flavex Naturextrakte, Danièle Ryman, ActiveHerb, Biofirst, Kahikatea Farm, Albert Vieille SAS, Carrubba Inc. and Botanical Specialties.
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