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Serrata Extract Market Size
- Report ID: GMI5357
- Published Date: Sep 2022
- Report Format: PDF
Serrata Extract Market Size
Serrata Extract Market size was worth more than USD 85 million in 2021 and is expected to grow at a CAGR of 10.5% through 2030. Implementation of new technology for innovative product launches to augment industry outlook.
The increasing penetration of herbal medicines is estimated to be the primary driver for the serrata extract market expansion. Herbal medicine is considered to be a safe alternative treatment for several ailments, particularly lifestyle conditions that require lifelong prescription medication and hence create health hazards. The World Health Organization (WHO) cites that 70-95% population in emerging nations still relies on medicinal plants for primary healthcare. Likewise, herbal treatments are also widely used in many developed nations, with complementary and alternative medicines (CAMs) becoming more common in the United Kingdom and the rest of Europe, as well as in North America and Australia.
Increasing cognizance regarding the benefits of ayurvedic remedies, in consort with wider availability of the product in raw and powdered forms are making it easier for people to improve their health conditions. Citing an instance, Boswellia serrata is known to possess anti-inflammatory properties and is proven to be efficacious for the treatment of inflammatory disorders such as arthritis, osteoarthritis, rheumatoid arthritis, and ulcerative colitis. Hence, the exceptional properties of the product are impelling the industry share.
Lack of research efforts to hamper industry expansion
The most significant impediment to herbal medicine research is a lack of resources for this branch of scientific investigation. Not enough efforts are being directed toward developing the production process for serrata extract, which is stifling the industry growth. However, given the current popularity of herbal therapies using serrata extract, it is vital to overcome investment barriers to thoroughly study and determine which herbal treatments are more beneficial than harmful for certain ailments.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Serrata Extract Market Size in 2021: | 85 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 10.5% |
| 2030 Value Projection: | 200 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 138 |
| Segments covered: | Form, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Serrata Extract Market Scope
