Echinacea Extract Market Report 2024

This Echinacea Extract market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The echinacea extract market size has grown rapidly in recent years. It will grow from $1.81 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed during the historical period can be linked to heightened consumer interest in natural remedies, an increasing awareness of health advantages, a rising demand for dietary supplements, the expanding market for herbal medicine, intensified research and development activities, and greater availability of echinacea extract products.

The echinacea extract market size is expected to see rapid growth in the next few years. It will grow to $3.12 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth during the forecast period is driven by a rising trend toward preventive healthcare, an increasing incorporation of echinacea in skincare products, expanded uses in pharmaceuticals, a growing preference for organic products, higher disposable incomes, and the increasing impact of social media marketing. Key trends during the forecast period include the growth of e-commerce and online retail channels, the creation of innovative echinacea-based formulations, advancements in extraction and processing technologies, and the incorporation of echinacea extract into beauty and cosmetic products.

The increasing demand for dietary supplements is expected to drive the growth of the echinacea extract market in the future. Dietary supplements are designed to enhance the diet by supplying concentrated nutrients, such as vitamins, minerals, herbs, or amino acids. This rising demand is fueled by growing health awareness and consumers’ inclination toward preventive health measures. Echinacea extract is commonly used in nutritional supplements to bolster the immune system and potentially shorten the duration of colds and respiratory infections. For example, a survey conducted in October 2023 by the Council for Responsible Nutrition, a U.S.-based trade association for the dietary supplement industry, revealed that 74% of U.S. adults take dietary supplements. Additionally, confidence in the quality of sports nutrition supplements increased by 5 percentage points to 66% compared to 2022, while confidence in the weight management category rose by 4 percentage points to 56% from 2022. Hence, the growing interest in dietary supplements is set to stimulate the echinacea extract market.

Key players in the echinacea extract market are concentrating on developing herbal medicines and echinacea-based products, including anti-aging skincare technologies aimed at reducing wrinkles and sagging by enhancing skin plumpness and firmness. These anti-aging solutions, derived from echinacea extracts, target skin rejuvenation by stimulating fat production. For instance, in March 2024, Biocogent LLC, a U.S.-based provider of personal care and cosmetic products, introduced Volpura EPO. This technology, sourced from Echinacea purpurea, aids in combating aging signs by promoting the skin's natural plumping mechanisms, addressing wrinkles and sagging from within for a fuller, youthful appearance. It enhances fat production in adipocytes (fat cells) by activating PPAR-γ, the key regulator of adipogenesis, leading to improved skin plumpness and firmness. Versatile and stable at temperatures up to 85°C, Volpura EPO can be used in hot pour and hot cast products such as lipsticks, lip balms, and lip glosses.

In April 2023, Kirin Holdings Company, Limited, a beverage company based in Japan, acquired Blackmores Limited for $1.88 billion. This acquisition is part of Kirin's strategy to diversify its business into the health and wellness sector, extending beyond its traditional beverage operations. Blackmores Limited, located in Australia, specializes in natural health supplements and vitamins, including echinacea extracts.

Major companies operating in the echinacea extract market are Symrise AG, Nature's Bounty Inc, Dr. Willmar Schwabe GmbH & Co. KG, Nature's Way Products LLC, Jamieson Wellness Inc., NOW Foods Inc., Indena S.p.A., Schwabe North America Inc., Gaia Herbs Inc., Integria Healthcare Pty Ltd, Bio-Botanica Inc., Traditional Medicinals Inc., Solgar Inc., Bluebonnet Nutrition Inc., Herb Pharm LLC, Jarrow Formulas Inc., Oregon's Wild Harvest Inc., Martin Bauer Group, Nutralion Inc., Gonmisol Inc., Solaray Inc., Sambucol Ltd.

North America was the largest region in the echinacea extract market in 2023. The regions covered in the echinacea extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the echinacea extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Echinacea extract is a concentrated product derived from the Echinacea plant, which encompasses its roots, leaves, and flowers. This extract is utilized in herbal remedies and dietary supplements due to its potential to enhance immune health and relieve symptoms associated with colds and respiratory issues. The key advantage of echinacea extract lies in its ability to boost the immune system and potentially decrease both the intensity and duration of colds and influenza.

Echinacea extract can be classified into several types, including reagent grade, food grade, and medical grade, among others. Reagent-grade echinacea extract is highly refined and complies with specific standards, making it suitable for laboratory experiments and analytical applications, particularly in research environments where quality and precision are critical. The extract is available in various forms, such as liquid, capsule, and powder, and is used in a range of products, including medicines, food and beverages, dietary supplements, beauty items, and essential oils. Distribution channels for echinacea extract include online retailers, brick-and-mortar stores, hypermarkets or supermarkets, and specialty herbal shops.

The echinacea extract market research report is one of a series of new reports that provides echinacea extract market statistics, including echinacea extract industry global market size, regional shares, competitors with an echinacea extract market share, detailed echinacea extract market segments, market trends and opportunities, and any further data you may need to thrive in the echinacea extract industry. This echinacea extract market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The echinacea extract market consists of sales of tinctures, echinacea teas, tablets, and topical formulations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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