The global Asparagus Extract market is expected to reach a market valuation of US$ 635 million by 2023, recording a CAGR of 4.1% from 2023 to 2033
By 2023, the market for asparagus extract is anticipated to be worth US$ 635 million, with a CAGR of 4.1% from 2023 to 2033.
Asparagus extract is derived from Asparagus racemosus or from Asparagus officinalis and is also known as Shatavari Extract. Asparagus racemosus is recommended by Ayurveda for the treatment of dyspepsia and gastric ulcers and therefore is used in industries such as nutraceutical, and pharmaceutical, among others. Asparagus extract is derived from the spears, root and stem of the plant. Asparagus extract is available in powder, tablet and liquid form.
Asparagus extract is rich in copper, selenium, natural folate, vitamin K, B1, B2, C and E. It also contains antioxidants such as quercetin and glutathione. Asparagus extract lowers cholesterol, reduces blood pressure, regulates blood glucose level and provides many other health benefits and therefore is used as a dietary supplement.
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Growing Demand for Asparagus Extract from Pharmaceutical Industry
The increase in health awareness among the consumers has brought a change in the global market because it is observed that the consumers are looking forward towards products that are organic, easy to consume and provide health benefits. Asparagus extract is aligned to all of the trends and has antioxidant property, antidepressant property, and helps to lower the cholesterol level, which is expected to drive the growth of the asparagus extract market.
Over the years, there has been a change in the alcohol consumption pattern across the globe. The excessive consumption of alcohol has shown to have a negative impact on health, causing liver damage and various diseases. The scientific studies have shown that asparagus extract might help increase the activity of the enzymes present in the liver cells, which are required for alcohol metabolism and can be used as a remedy to prevent few diseases. Also, the recent trend of use of herbal medicines might, therefore, attract the manufacturers of pharmaceutical and health care industries to use asparagus extract, which is expected to serve as one of the major drivers of the growth of the asparagus extract market.
There is lack of information about the appropriate range of doses for asparagus extract. The dose might vary according to the consumer’s age, health, gender, etc. The lack of awareness about the asparagus extract dose among the consumers might cause allergies, weight loss, and other health issues due to overdose, which is expected to restrain the growth of the asparagus extract market.
Global Asparagus Extract Market: Participants
The key market players operating in the market are Chi’s Enterprise, Inc., SA Herbal Bioactives LLP, SV Agrofood, Herbo Nutra, Sava Healthcare Limited, Xi’an Tianrui Biotech Co., Ltd, Maypro Industries, Inc., Shreedha Phyto Extracts, Navchetana Kendra, and Allpure Organics, among others.
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Global Asparagus Extract Market: Key Developments
The main focus is on the research and development which would enable to increase the applications for asparagus extract. The research on the positive effects of enzyme-treated asparagus extract on heat shock proteins of pancreatic cancer cells might help to find a new way for the treatment of cancer.
In 2013, Proprietary Branded Ingredients division of Maypro Industries, Inc. launched a patented ingredient enzyme-treated asparagus extract, branded as ETAS, to reduce stress and sleep-related problems.
Opportunities for Asparagus Extract Market Participants:
The incorporation of asparagus extract in various food products such as cakes, biscuits, cookies, etc. and developing nutritional innovative food products might increase the asparagus extract market as the consumers are preferring the use of nutritional and organic food products and are also willing to pay more for health food products.
Brief Approach to Research
The analysis will be done a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed Asparagus extract market understanding and assessment of the flavor, application and encapsulation process of the segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Asparagus extract market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Asparagus extract market segments and geographies.
Global Asparagus Extract Market: Segmentation
Asparagus extract market segmentation on the basis of the form:
Asparagus extract market segmentation on the basis of the end use:
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Report Highlights:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 05, 2023
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