Forskolin
refers to natural supplement obtained from the root of a Coleus
forskohlii plant. Forskolin extract, herb of the mint species, is of
high medicinal value. It is mostly found in countries of South East
Asia, Thailand, and mostly India. Forskolin plant is essentially
utilized for treating intestinal disorders and several cardio
vascular diseases. It is herbal remedy for diseases such as asthma,
high blood pressure, and chest pain. It is also effective in treating
insomnia. It is an effective remedy against allergies and other skin
related problems. It also controls appetite and boost energy levels.
Forskolin extract is also capable in reducing excess fat from the
body. It stimulates the thyroid hormone of the body, thereby increase
metabolism which in turn help in reducing weight. These high health
benefits are expected to contribute significantly in raising the
consumption levels of forskolin extracts during the forecast period.
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Market
Dynamics of Forskolin Extracts:
Forskolin
extract market is expected to grow rapidly owing to its high
medicinal characteristics. The growing trend towards signifying
traditional herbal remedies as an alternatives to the modern medicine
is expected to bring strong growth opportunities for forskolin
extracts. Rapid urbanization has brought significant changes to the
lifestyle and dietary habits of consumers, hence elevated the need
for forskolin extracts to support healthy life style. With people
becoming more health conscious and giving high preference to herbal
remedies, demand for forskolin extracts is expected to rise. In order
to leverage the growing trend of natural and herbal extracts,
companies are keen to enhance the functional profile of forskolin
extract. Hence, players in the forskolin extract market are
developing ingredients with high health and wellness functionality.
Market
Segmentation of Forskolin Extracts:
Forskolin
extract market is segmented on the basis of application and
geography. Based upon application, forskolin extract market is
segmented into food supplements, nutraceuticals formulations, dietary
supplements, and others such as cosmeceuticals. Dietary supplements
is expected to attain relatively higher revenue share in the
forskolin extract market. Higher revenue share of dietary supplements
can be attributed to the increasing consumption of dietary
supplements by consumers in order to stay healthy and fit.
Pharmaceutical segment is expected to grow at relatively high CAGR
during the forecast period. High growth of pharmaceutical segment can
be attributed to its increased contribution of forskolin extract in
effectively treating cardiovascular diseases, skin related diseases,
and many others.
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Regional
Outlook of Forskolin Extracts:
Based
on geography, forskolin extract market is segmented into seven
different regions namely Asia-Pacific, Middle East and Africa, Latin
America, Western Europe, Eastern Europe, North America, and Japan.
Western Europe region is expected to attain relatively higher revenue
share in the global forskolin extract market. Higher revenue share of
the region can be attributed to the rising health consciousness
coupled with the increasing awareness regarding the health benefits
of forskolin extract in the region. Asia Pacific region represented
high growth potential for the forskolin extract market owing to the
wide availability of forskolin extract in the region. Emerging
economies such as China and India are expected to contribute
significantly in the high growth of Asia Pacific forskolin extract
market.
Key
Market Players in Forskolin Extracts:
Some
of the key players in the forskolin extract market include Alchem
International Ltd, Flavour trove., Bayir Extracts, Cymbio Pharma Pvt.
Ltd., Sabinsa Corporation, and Alexa Biotech Pvt. Ltd. among others.
Forskolin extract market is of fragmented nature with large number of
organized and unorganized players are keen to strengthen their
position in the market. Leading manufacturers in the forskolin
extract market are keen to expand their product portfolio to strength
their position in the market.
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