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Fenugreek Seed Extract Market 2018-2024 | Global Analysis & Foresights

Author : Rahul Sankrityayan | Published Date : 2019-04-30 

Global Market Insights, Inc. added research on Fenugreek seed extract market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

Fenugreek seed extract market, in the recent years has inked a rather pronounced growth path, subject to the dramatic surge in commercialization of the product. Boasting a very high nutritional profile, fenugreek has gained exceptional traction as a medicinal herb and is therefore rapidly penetrating the medical, cosmetic, and F&B sectors.  Increasing consumer awareness toward healthy living & eating habits has significantly drawn demand for fenugreek seeds in diets. 

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Add to it, the rising demand for fenugreek extract from athletes owing to its excellent natural heath supplement properties will further fortify fenugreek seed extract industry share. Reportedly, fenugreek consumption has displayed marked benefits in controlling type 2 diabetes, obesity, and cholesterol lowering. That said, this nutrient dense seed is overt to gain remarkable proceeds in the ensuing years. According to reports, in 2016, the global fenugreek seed extract market accounted for USD 3.5 million, and is further anticipated to surpass 470 tons by 2024, in terms of volume.

Shifting consumer focus towards ayurvedic cosmetics and increasing concern regarding synthetic chemicals is expected to influence industry size. Improved R&D in processing technologies, reduced wastage, and improved productivity are key strategies adopted by manufacturers to gain competitive advantage.

Pharmaceuticals segment is expected to surpass 210 tons by 2024. Health promoting chemical ingredients such as vitamin A, vitamin B1, vitamin C, iron, flavonoids, phosphates, saponins, trigonelline, and other alkaloids are supporting product penetration for this segment. Further, improved medicines shelf-life, low cost, and easy raw material availability are the key factors influencing industry size.

Food & beverage application accounted for over 40% market share in 2016. Fenugreek seed extract is gaining momentum in culinary application to avoid an array of ailments including kidney diseases, colic, abdominal flatulence, intestinal issues. Other key benefits including milk promoting agent in nursing mothers to increase breast milk production and treat hormonal imbalance in women driving industry growth.

Cosmetic applications will surpass USD 650 million by 2024. Shifting preference towards organic and natural beauty products will support segment growth. Furthermore, manufacturers are expected to penetrate emerging markets by investing in low-cost processing technologies and new product launches with improved quality.

Europe fenugreek seed extract market is expected to hold over 30% market share in 2016. Factors such as rapid urbanization, an aging population, increasing demand for more effective treatments, higher disposable incomes and high government expenditure on healthcare fostering regional industry size.  

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North America fenugreek seed extract market will witness fastest growth over the projected timeframe. Growing consumption of ethnic flavored herbs and spices in consistent diet and increasing penetration of herbal products in the personal care category likely to augment fenugreek seed extract market.

Key industry players are Nutra Green Biotechnology, Arjuna Natural Extracts, Bio-Botanica, Unique Organics, Ambe, Chereso Lifesciences, Indus Biotech, Human nature biotechnology, Novoherb and Creative Enzymes. Increasing R&D investment and collaboration between health organizations and food manufacturers participants is projected to propel fenugreek seed extract market development over the projected timeframe.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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