Serrata Extract Market size is expected to surpass USD 200 million by the end of 2030, as per a new research report announced by Global Market Insights Inc.
The serrata extract industry is projected to record substantial gains in the ensuing years driven by the burgeoning demand of herbal ingredients as a dietary supplement for illness prevention. Serrata extracts have extraordinary medicinal properties and can effectively treat a wide range of diseases, including body aches. The ongoing research by leading market players on how this medicinal extract can boost flexibility and mobility is slated to amplify product adoption. Surging demand for food supplements among the health-conscious population and increasing popularity of serrata-based dietary supplements.
Availability of substitutes may impede market expansion
Although serrata extract is safe, there are some side effects too. It has the potential to produce adverse effects such nausea, acid reflux, vomiting, abdominal pain, heartburn, headaches, constipation, and diarrhea. When using serrata extract products, some people may witness skin issues, especially if applied directly to the skin. To avoid such negative effects, people prefer safer substitutes. The increasing availability of alternatives for serrata extract may limit the industry development.
Growing demand for serrata extract in liquid form to expand market share
As per form, global serrata extract market is bifurcated into powder and liquid. The products in liquid form are in high demand owing to their increasing use in oils, skincare products, soaps, lotions, drinks, and other products. Consumer inclination for aromatherapy, along with widespread usage of product in aromatherapy oils is impelling the segment share. liquid category is expected to be worth more than USD 86.5 million by 2030.
Browse key Industry insights spread across 150 pages with 123 market data tables & 15 figures & charts from the report, “Serrata Extract Market Size By Form (Powder, Liquid), By Application (Herbal Medicine, Food Supplements, Aromatherapy, Others), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2030” in detail along with the table of contents:
Increasing popularity of aromatherapy to drive the demand for serrata extract oils
Based on application, aromatherapy segment is expected to record a CAGR of over 11% through 2030. Aromatherapy is known to improve both physical and mental wellbeing. It has recently gained traction in the domains of science and medicine. Boswellia serrata extract has compounds that provide swelling relief. It is widely used in aromatherapy due to its medicinal characteristics that control pain, enhance sleep quality, soothe aching joints, and fight numerous germs and viruses. The aforementioned attributes have increased product demand.
Wide acceptance of food supplements to bolster North America serrata extract market landscape
North America market is expected to grow at a CAGR of more than 10% over the forecast period and is speculated to be worth more than USD 64 million by 2030. According to a report by CRN Consumer Survey on Dietary Supplements conducted in September 2019, 77% of Americans use dietary supplements. The regulated products have grown popular with constant innovations in natural dietary health supplements. The growing food supplements industry is boosting the product usage, thus impelling the regional market share.
Industry revenues are set to increase as leading companies work to drive product innovation
Manus Aktteva biopharma LLP, Marven Bio Chem, Hernal BioActives LLP, Sanat, S.A, Jayshree Nath Herbals, Herbal Creatiions, Ambe NS Agro product pvt ltd., Alps Pure, Now Food, Venkatesh Natural Extract pvt ltd., Arjuna Natural, Alchem International, Bioprex Labs, Sandhus, and Himalayan Herbaria are the leading manufacturers in the serrata extract market.