Global
Echinacea Market: Overview
Echinacea
is the most important substantial herb of America belonging to daisy
family and popularly known as purple coneflower. There are nine known
species of echinacea out of which three species namely E.
angustifolia, E. pallida, E. purpurea hold medicinal value. With
growing demand for herbal products, echinacea adoption is getting
traction among food and beverage manufacturers across the world.
Echinacea is creating its footprint in the herbal healthcare industry
as it offers extensive health benefits. Echinacea
is extensively used as antibiotics to fight against various infection
such as urinary tract infections, vaginal infections, and blood
infection; it helps to boost the immune system and also contributes
to cure skin diseases. The medicinal content can be extracted from
its roots, flowers and leaves, thus making it extremely useful.
Being
herbal in nature it also holds nutritional content thus, finds its
use in food and beverages industry in the form of tea and juices.
Though, a niche segment it has notable usage across different
industries which is anticipated to result in significant growth.
Commercially, echinacea is available in various forms such as tablet,
ointment, and powder among others.
Global
Echinacea Market: Drivers and Restraints
The
primary driver contributing to the growth of echinacea is the growing
herbal market. A distinctive growth is seen in the herbal products
in recent times as consumption behaviour is shifting towards healthy
and nutritious products. Product innovations related to herbal
products are contributing towards the development of such products.
Echinacea offers array of health benefits thus gaining recognition in
healthcare industry. Moreover, there is no recent evidence of any
side effects caused by this herb. Due to its curative property,
various professional herbalist recommend it for treating skin
disease, UTI infections, and ear infections along with other
immunological benefits. Recent studies also reveal that, echinacea is
associated with curing of cancer, tumours and HIV infection.
However,
cultivation of echinacea requires skilled labour, thus increasing its
cultivation cost. Moreover, cultivation of echinacea involves
long-term investment regarding finance, time and money, as it takes
approximately two years to develop to obtain its desirable state.
Hence, level of uncertainty and risk involved is high. Evidence of
mislabelling of echinacea species have been reported in the market as
half of the desirable amount of active ingredient in them was
missing. Thus, chances of misleading the consumers are high. These
factors may hamper the market growth of Echinacea.
Global
Echinacea Market: Segmentation
Echinacea
has broad spectrum of segments.
On
the basis of product type, Echinacea market is segmented into:-
- Tablet
- Capsule
- Ointment
- Extracts
- Creams
On
the basis of form, Echinacea market is segmented into:-
- Liquid
- Powder
On
the basis of application, Echinacea market is segmented into:-
- Food and beverages
- Pharmaceuticals
- Ornamental
- Beauty products
- Essential oils
Global
Echinacea Market: Region Wise Outlook
The
echinacea market is divided into seven regions, namely North America,
Latin America Western Europe, Eastern Europe, Asia Pacific excluding
Japan (APEJ), and Japan. Echinacea originated from North America
particularly in the parts of central and eastern United States. With
increase in awareness of herbal products among consumers, there has
been extensive use of echinacea ingredients by the herbal product
manufacturers in North America. Europe is considered to be the key
market player in herbal supplements. Thus, offering opportunities for
echinacea among beauty product manufacturers in Europe, particularly
in Germany. Also, Asia Pacific is the emerging market in this
segment, as consumers are more oriented towards natural and herbal
products in Asia Pacific countries.
Global
Echinacea Market: Key Players
- Nutragreen Biotechnology Co., Ltd
- Arkopharma Pharmaceutical
- Himalaya Drug Company
- Nutrascience Labs
- Bio-Botanica, Inc.
- Herbal Bio Solutions
- Maat Nutritionals
- Alfa Chemical Corp.
- Hunan Changsha Huir Biological Tech Co. Limited
- Arnet Pharmaceutical
- Atlantic Essential Products, Inc.
- Nutraceutical Corporation
- Greenwoods Herbal Extract Co. Limited
- Nutritional Supplement Manufacturers, Inc.
- Sundown Nutrition
- Twinlab Corporation
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