Banaba
tree (Lagerstroemia speciosa), the tropical flowering tree also known
as pride of India has been used for making tea by brewing the dried
leaves. Banaba leaf extract is still being used as a folk remedy for
the treatment of diabetes in India, Philippines and other South East
Asian countries. The anti-diabetic effect of banaba leaf extract is
due to the presence of corosolic acid as found in clinical studies.
With no adverse drug effects being reported, this extract has proven
to be of immense potential, providing an alternate and safe method
for the treatment of diabetes. The banaba leaf extract has shown a
moderate decrease in weight and therefore it is also used in many
weight loss formulations. In addition to this banaba
leaf extract
also helps maintain normal levels of antioxidants. This natural
herbal extract has gained significant attraction from diabetic
population who are looking for a better and safe diabetes medicine
and thus creating a huge demand globally.
Banaba
Leaf Extract Market Segmentation
Banaba
leaf extract is segmented on the basis of dosage form, distribution
channel and region. On the basis of dosage form it is segmented as
powder, capsules and tinctures. The capsule formulation being more
popular in use, is expected to endure its steady growth rate. However
factors like increasing health awareness and availability of quick
information online are expected to supplement the growth in sales of
capsules formulation.
On
the basis of distribution channel banaba leaf extract is segmented
as; retail stores, specialty stores, and online retail. The major
share of revenue being driven by retail segment, the online retail is
expected to attain a superior growth rate and a substantial market
share by showcasing the information available on internet.
On
the basis of region the banaba leaf extract is segmented into Asia
Pacific, North America, Japan Western Europe and Middle East. Japan
with its high share in demand attributed to the vast popularity of
traditional medicine and its benefits has attracted exporters
worldwide and the wide acceptance of herbal health products in other
developed countries like United States, Canada, France and U.K. has
created a powering demand and thus it is expected to show an
accelerated growth during the forecast period.
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Banaba
leaf extract market Global Market Trends and Market Drivers:
The
growth of herbal healthcare market remains persistent due to its
appeal as healthy and safe to use products. The sedentary lifestyle
among people is creating an ever increasing demand for health and
wellness promoting supplements. Banaba leaf extract with its natural
no side effect USP has gained attention from the diabetic population,
furthermore the consumer centric approach in treatment of disease has
led to a boom in the herbal product market; consumers looking for a
safer alternative to pharmaceutical medicines have approached herbal
products. The high valued trust on Ayurvedic preparation in western
countries has attracted the Ayurvedic manufacturers to sell their
products worldwide. The cemented faith among consumers of Ayurvedic
products backed by the information available globally is expected to
fuel the market growth of banaba leaf extract. Further innovations
like use of nanotechnology by EastGate Biotech Corp. to boost the
blood glucose lowering ability of banaba leaf extract is expected to
drive the market growth.
Banaba
Leaf Extract Market Key Players:
Variety
of banaba leaf extract formulations have been introduced by the
manufacturers and some of the global market players manufacturing
banaba leaf extract market include; Nutra Green Biotechnology Co.,
Ltd., JIAHERB Inc., Eastgate Biotech Corp., Cambridge Commodities
Ltd., New Directions Aromatics Inc., Vitaco Holdings Ltd., Swanson
Health Products Inc. Among others.
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