Global Garcinia Market is estimated to be valued at USD 127.95 Million by 2025, registering a CAGR of 3.77% during the forecast period. The global garcinia market is expected to register a notable growth rate during the forecast period. The growth of the global market can be attributed to the health benefits associated with garcinia and surging demand for natural and healthy ingredients in several applications. However, the side effects associated with prolonged consumption of garcinia are projected to hamper the global market growth during the assessment period. The market is expected to emerge lucrative for the vendors active in the global garcinia market due to the increasing application of garcinia in cosmetics and nutricosmetics.
Segmental Analysis
Global Garcinia Market has been segmented on the basis of Form, Application, and Region.
By form, the market has been divided into powder, liquid. Among these, the powder segment accounted for significant market share in 2018 and is expected to retain its dominance throughout the forecast period. The growth of the powder segment is attributed to several factors. Powder extracts have a long shelf life and are easy to transport. The quality of the powdered form of garcinia depends upon the unique biochemical, biophysical, and energetic properties of the garcinia plant species being extracted. Powdered garcinia is the most preferred form by the end users owing to the requirement of low transportation cost, high heat resistance, and solubility. The demand for the liquid form is also increasing over the last few years. Garcinia in liquid form optimally preserves the aroma, taste, and biological activity of the garcinia fruit.
Key Players
Market Research Future recognizes Hunan Huacheng Biotech Inc. (China), Hunan NutraMax Inc. (China), Nuvaria Ingredients (US), Ambe Phytoextracts Private Ltd (India), Indfrag Limited (India), Xi'an Lyphar Biotech Co., Ltd (China), Cymbio Pharma Private Limited (India), Xian Tonking Biotech Co., Ltd (China), BioActives Europe GmbH (Germany), and Shaanxi Bolin Biotechnology Co., Ltd (China) as the Key Players in the Global Garcinia Market.
Regional Analysis
Geographically, the global garcinia market has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 4.00% during the forecast period. Asia-Pacific accounted for the second-largest market share in 2018.
Key Findings of the Study
The Global Garcinia Market is expected to register a growth rate of 3.77% from 2019 to 2025. Increasing consumer demand regarding the health benefits associated with garcinia is anticipated to act as a major driver in the growth of the global garcinia market.
On the basis of form, the powder segment is expected to hold a dominant share of the market by 2025, registering a growth rate of 3.81%.
The dietary supplements segment accounted for the largest market share in 2018 and is expected to exhibit a CAGR of 3.76% during the forecast period.
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