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Growth of Perilla Extract Market

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Sneha
Growth of Perilla Extract Market

The global Perilla Extract Market is estimated to be valued at US$ 1.15 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Perilla extract is derived from Perilla frutescens plant and rich in alpha-linolenic acid (ALA), an omega-3 fatty acid. It is used as a flavoring agent in food and supplements. Perilla extract delivers numerous health benefits such as boosting cognitive function, supporting heart health, improving skin health, and reducing inflammation. It provides antioxidants that fight aging and aid weight management. The increasing consumer awareness about the health benefits of perilla extract supplements is propelling the market growth.

Market key trends:

Growing awareness about nutritional benefits of omega-3 fatty acids: Perilla extract is rich in omega-3 fatty acid alpha-linolenic acid (ALA), which provides anti-inflammatory and antioxidant properties. Rising consumer awareness about the role of omega-3 fatty acids in improving cognitive function, lowering risk of cardiovascular diseases, and promoting skin and joints health is driving the demand for perilla extract supplements.

Increasing application in functional food industry: Perilla extract finds wide usage as a flavoring agent in functional food products such as yogurt, ice cream, juices, and smoothies. The surging popularity of functional food & beverages infused with nutritional ingredients to offer additional health benefits is augmenting the application of perilla extract in food industry.

Porter’s Analysis:

  • Threat of new entrants: The perilla extract market has moderate threat of new entrants due to significant requirement of R&D investment and established distribution channels of existing players.
  • Bargaining power of buyers: Buyers have moderate bargaining power in the perilla extract market due to availability of substitutes.
  • Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternatives.
  • Threat of new substitutes: Threat of substitutes is moderate as perilla extract has unique health benefits that are difficult to substitute.
  • Competitive rivalry: Intense competition exists among the key players.

Key Takeaways:

The Global Perilla Extract Market Growth is expected to witness high, exhibiting CAGR of 6.9% over the forecast period, due to increasing health awareness among consumers.

Regional analysis

Asia Pacific dominates the global perilla extract market and is expected to continue its dominance over the forecast period. Countries such as China, Japan and South Korea are the major contributors to the growth of the market in Asia Pacific due to high consumption of perilla extract in traditional medicines.

Key players

Key players operating in the perilla extract market are Shaanxi Undersun Biomedtech Co., Ltd., Tocris Bioscience (Bio-Techne Corporation), BioOrigin, Nature’s Sunshine Products, Inc., Organic Herb Inc., Damin Foodstuff (Zhangzhou) Co., Ltd., Nutra Green Biotechnology Co., Ltd., Xian Yuensun Biological Technology Co., Ltd., Guangxi Yiyuan Biotechnology Co., Ltd., Changsha Heking Bio-Tech Co., Ltd., Hangzhou Botanical Technology Co., Ltd., Novoherb Technologies, Jiangsu Changhai Food Additive Co., Ltd., Xian Sost Biological Science & Technology Co., Ltd., Xi’an Plant Bio-Engineering Co., Ltd.

 

Read more – https://www.trendingwebwire.com/perilla-extract-market-share-and-demand-analysis/  

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