Fenugreeked Extract Market Projected to Grow at a Steady Pace During 2021-2026
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Stratview Research has published a new report on the Fenugreeked Extract Market, segmented By Form (Powder, Oil), Application (Pharmaceuticals, Food, and Beverage, Cosmetics), and Region.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global artificial intelligence as a service market.
Market Highlights
The Fenugreeked Extract market is projected to grow from USD 5.3 million in 2020 to USD 10.9 million by 2026 at a CAGR of around 13.1% during the forecast period.
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Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
Segmentation –
This report studies the Fenugreeked Extract Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
By application, the fenugreeked extract market has been bifurcated into pharmaceuticals, food and beverage, and cosmetics. Under these, the pharmaceuticals segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing demand for health supplements.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The segment growth is primarily attributed to the increasing growth of the end-use industries in developing countries, particularly China and India. The market growth in the North American region is expected to be driven by high demand for health supplements coupled with the presence of key market players such as Bio-Botanica Inc (US) and Creative Enzymes (US).
Following are the key players in the Fenugreeked Extract Market:
· Arjuna Natural Extracts Ltd (India)
· Nutra Green Biotechnology Co., Ltd (China)
· Ambe Phytoextracts Pvt. Ltd. (India)
· Unique Organics Limited (India)
· Indus Biotech Private Limited (India)
· Bio-Botanica Inc (US)
· Springer Nature Group (UK)
· Chereso Life Sciences Private Limited (India)
· Novoherb (China)
· Creative Enzymes (US)
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