Notoginseng root, often hailed as the miracle root for its life-preserving properties, has captured the attention of geroscientists worldwide. Beyond its conventional use in anti-aging products, the recent research study conducted by Transparency Market Research (TMR) delves into the myriad functional areas of notoginseng root extract, uncovering lucrative opportunities for stakeholders in the global market. This article provides a detailed overview of the findings from TMR's research, shedding light on the evolving landscape of the notoginseng root extract market and the factors driving its growth.
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Market Dynamics: In 2018, global revenues from notoginseng root extract amounted to approximately US$ 300 million, with a projected steady growth trajectory in the coming years. The market is expected to witness a compound annual growth rate (CAGR) of just under 4% through 2028, driven by the increasing demand from health-conscious consumers and the burgeoning health supplements category. Manufacturers are capitalizing on the rising popularity of organic and natural products, leveraging the therapeutic attributes of notoginseng root extract to meet the evolving consumer preferences.
Exploring Functional Areas: The therapeutic efficacy of notoginseng root extract extends beyond its anti-aging properties. Research indicates its pro-haemostatic activity, accelerating the blood clotting process, while also demonstrating anti-haemostatic properties, warranting further investigation into its role in managing excessive bleeding. Additionally, the extract showcases a plethora of pharmacological benefits, including immuno-stimulation, anti-inflammatory, anti-fibrotic, neuroprotective, vasodilatory, and anti-hypertensive properties, paving the way for diversified applications in pharmaceutical formulations.
Global Reach and Quality Benchmark: China remains a dominant player in notoginseng cultivation, catering to the demand from developed regional markets such as Europe and North America. However, to meet the stringent quality standards, producers are focusing on optimizing the growth environment and cycle of notoginseng. Research efforts aimed at identifying conducive growth conditions are underway, with a shift towards new production areas like Baise and Wenshan. This strategic move aims to surpass traditional cultivation regions and ensure the supply of high-quality notoginseng root extract to meet global demand.
Competitive Landscape: The market for notoginseng root extract is highly consolidated, with key players based in China targeting expansion into new regional markets. North America, with its flourishing pharmaceutical landscape, remains a prime destination for Chinese manufacturers, followed by Europe. Quality evaluation methods are being employed to measure the chemical composition of notoginseng, aiding in product differentiation and exploration of new end-use categories. Leading manufacturers such as Puritan’s Pride and MeiHerb Biotch Co. Ltd. are focused on expanding their global footprint, while others like Ginco International and NutraChamps Inc. prioritize innovation and quality launches.
Analyst’s Viewpoint: The widening applicability of organic ingredients, including notoginseng root extract, underscores the growing demand for novel therapeutic solutions. Manufacturers need to enhance awareness of the extract's therapeutic benefits and adopt innovative cultivation techniques to meet evolving market demands. Moreover, diversification of product differentiation strategies is essential to withstand competition from alternative health supplements. By focusing on these key areas, stakeholders can capitalize on the burgeoning opportunities in the dynamic landscape of the notoginseng root extract market.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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