Lovage
Extract Market: Introduction:
Lovage
or Levisticum officinale is a perennial plant found I all of Europe
and some parts of the southwestern Asia. The Lovage plant is widely
used as an herb in the European countries. The lovage extract produce
has a celery aroma which is used in soups as and flavoring agent. The
exact native range is disputed; some sources cite it as native to
much of Europe and southwestern Asia, others from only the eastern
Mediterranean region in southeastern Europe and southwestern Asia,
and yet others only to southwestern Asia in Iran and Afghanistan,
citing European populations as naturalized. The leaves can be used in
salads, or to make soup or season broths, and the roots can be eaten
as a vegetable or grated for use in salads. Its flavor and smell is
somewhat similar to celery. The seeds can be used as a spice, similar
to fennel seeds. The celery aroma and taste of the lovage extract are
used in food and beverage industry. The lovage extract is a good
source of natural flavor. The lovage extract is also used in
alternative medicine industry to treat gastrointestinal disorders.
The herbal and alternative market for food and beverage and
pharmaceutical is booming globally and lovage extract is anticipated
to show dynamic growth in terms of trade.
Lovage
Extract Market: Segmentations:
The
lovage
extract market
can be segmented on the basis of the origin of product, form, and
application.
On
the basis of the origin of the product, the lovage market can be
segmented into root and shoot. The root extracts are used to prepare
meds and the shoot extract is used as salad dressing and flavor
spice. Also, the seeds are extracted and dried to produce spices.
On
the basis of form, the lovage extract market can be segmented into
powder, liquid, and paste. The lovage extract powder and paste are
used for flavoring and spice and the liquid lovage extract are mainly
used in the pharmaceutical application and also, in beverage too.
On
the basis of application, the lovage industry can be segmented into
spice, flavoring agent, and alternative medicine. The lovage extract
from leaves contains an excellent aroma and is used for flavoring.
The lovage extract from root contains essential oils and have a lot
of medicinal use. The lovage extract obtained from seeds are
excellent spice for salad dressing.
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Lovage
Extract Market: Region-wise Outlook:
The
North America and Europe are key regions for the lovage extract
market because of the dynamic growth of the herbal spice and
flavoring market in the region. Increasing awareness of the
alternative medicines has also created impact in the Asia pacific and
the MEA regions. In near future, this region will create a healthy
demand for the lovage extract products.
Lovage
Extract Market: Drivers and Restraints:
The
plant properties of the lovage make it a good alternative of the
celery plant. The yield produced from one plant is more than one
celery plant and hence is more cost efficient. This a main driver of
the lovage extract market as it is a cheaper and efficient
alternative of the celery in every sector. The medicinal property of
the lovage extract will also give the manufacturers an alternative
market other than the agricultural to play. Both this points ensure a
dynamic growth in the near future of the market.
The
lack of awareness on the demand side may hamper the business of the
lovage extract. If not taken care may act as a restrain in the lovage
extract market.
Lovage
Extract Market: Key Players:
The
key global players of lovage extract market are Changsha
Vigorous-Tech Co., Ltd, Carrubba Inc, Aunutra Industries Inc, Bio
Botanica Inc, Frutarom Ltd, Horner International Co, AND Vege Tech
Co. The companies are expected to expand their business by enhancing
their product portfolio in global lovage extract market. The
companies are projected to frame certain strategies in future in
order to gain the competitive advantage in global lovage extract
market till 2025.
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