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Serrata Extract Market Analysis
- Report ID: GMI5357
- Published Date: Sep 2022
- Report Format: PDF
Serrata Extract Market Analysis
Global serrata extract market is divided into powder and liquid segments based on product form. The powder form category is expected to grow at a CAGR of more than 10% through 2030. Powdered products are considered to be less expensive and easier to administer, resulting in higher patient compliance. Through powdered form, small dosage is needed and can be consumed entirely without any wastage. The cost benefit of producing serrata extract powder will complement segment growth.
In terms of application, the serrata extract market is divided into four categories – herbal medicines, food supplements, aromatherapy, and others. The herbal medicine segment held notable industry share in the recent past and is estimated to account for more than USD 65 million by 2030. Ancient societies in nations such as India, China, South America, and Egypt continue to rely on plant-based therapies to manage serious health conditions. Furthermore, there is a burgeoning scientific and economic interest in medicinal plants as raw materials among herbal pharmaceutical firms. The increased acceptance of herbal treatments is bolstering the demand for serrata extract, aiding the industry expansion.
Regionally, the APAC segment is predicted to grow unprecedently due to the prevalence of leading pharma companies in the region. The regulatory relaxations associated with the product use will also foster the demand for serrata extract. Notably, Southeast Asia and South Asia are green grounds for medicinal plants used in traditional medicine. Boswellia serrata, the plant which is native to much of India and the Punjab area that stretches into Pakistan, has been utilized for numerous ayurvedic compositions since ancient times. To that effect, the Asia Pacific serrata extract market is anticipated to be worth more than USD 58 million by 2030.
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Serrata Extract Market Scope
