Kava Root Extract Market Key Players Analysis, Emerging Opportunities, Competitive Landscape and Forecast to 2029 The global kava root extract market size is predicted to hit USD 3.41 billion in 2029 and exhibit a CAGR of 16.29% during the forecast period. The swiftly expanding supplements industry and the increasing kava root extract incorporation in the pharmaceutical industry are anticipated to bolster the market expansion. Fortune Business InsightsTMhas presented this information in its report titled, “Kava Root Extract Market, 2022-2029”. The market size stood at USD 1.02 billion in 2021 and USD 1.18 billion in 2022. Further, the rising acceptance of herbal extracts infused non-alcoholic beverages is estimated to favor the market’s expansion. List of Key Industry Players- Botanic Healthcare (India) NOW Health Group Inc. (U.S.) Gaia Herbs Inc. (U.S.) Root of Happiness (U.S.) LifeSeasons, Inc. (U.S.) Natural Factors Nutritional Products Ltd. (U.S.) Best Nutrition Product, Inc. (U.S.) Fiji Kava Australia Ltd. (Australia) Kona Kava Farm (U.S.) Nutragreenlife Biotechnology Co., Ltd. (China) Drivers & Restraints- Rising Functional Food Consumption to Fuel Market Growth Kava root extract’s therapeutic and relaxing properties have escalated its demand for applications in several personal care and pharmaceutical products. It is widely consumed by Western population as tablets or capsules containing acetonic or ethanolic extracts. The consumption of the extract has witnessed a substantial increase in consumption as a dietary supplement. The rising popularity of herbal extracts-infused non-alcoholic beverages due to mushrooming health awareness is predicted to complement the kava root extract market growth. Moreover, the growing consumption and demand for these extracts by the pharmaceutical industry due to their therapeutic and relaxing properties is anticipated to favor market growth. The swiftly expanding supplements industry due to a heightened consumption by the geriatric population is estimated to foster the growth of the market. Additionally, the rising functional food consumption is anticipated to benefit the market’s expansion due to proliferated demand for kava in functional beverages and foods. However, raw material price fluctuations and low market penetration may restrain the market’s expansion during the forecast period. Regional Insights- High Production and Consumption of Kava to Boost Growth in Fiji Fiji is a prominent consumer and producer of kava root extracts and is predicted to attain a humongous global kava root extract market share. The country is the largest producer of this extract and the favorable initiatives for unemployed rural individuals and farmers are projected to bolster the market’s expansion in Fiji. Vanuatu is anticipated to exhibit substantial growth in the coming years. Factors such as the rising demand for nutritional supplements, urbanization, a surge in women kava drinkers, and an ever-increasing populace are expected to stimulate the market growth in the country. The evolving consumption patterns are predicted to escalate product consumption and flourish in growth in the U.S. Competitive Landscape- Key Players Launch New Products to Amplify their Global Positions The major players operating in the market emphasize upgrading current product portfolios by incorporating advanced technologies to enhance their offerings. The major market players adopt ingenious strategies, including contracts, acquisitions, mergers, collaborations, and others to amplify their growth prospects. For instance, a pre-packaged kava drink, Drink Leilo, was launched in the U.S. in March 2020. Key Industry Development- March 2022: HiLands Foods and Lami Kava partnered to launch premium quality kava root herbal extract in the Australian market. The partnership is aimed to fortify distribution networks and presence of the two companies across the country. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/kava-root-extract-market-103694

Nutraceuticals Market Share, Growth Potential, Demand, Segmentation and Forecast to 2028 The global nutraceuticals market is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years. List of Companies Profiled in the Global Nutraceuticals Market: Herbalife Nutrition Ltd. (California, United States) Archer Daniels Midland Company (Illinois, United States) General Mills (Minnesota, United States) PepsiCo Inc. (New York, United States) BASF SE (Mannheim, Germany) Abbott (Illinois, United States) Amway (Michigan, United States) Glanbia Plc. (Ireland) Danone S.A. (Paris, France) Nestle S.A. (Vevey, Switzerland) DRIVING FACTORS Increasing Investment in Product Development to Favor Growth In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years. REGIONAL INSIGHTS Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020. The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028. Market Segmentation: Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional beverages. On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to several companies focusing on expanding their dietary supplement production facilities to cater to the growing consumer demand. Based on the distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online retail, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. COMPETITIVE LANDSCAPE: Merger and Acquisition between Major Companies to Brighten their Market Prospects The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years. Browse Detailed Summary of Research Report: https://www.fortunebusinessinsights.com/nutraceuticals-market-102530

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Functional Beverages Market Size, Share and Forecast to 2028 Read More: http://bit.ly/3hQRsNK