The value of notoginseng root extract market reached USD 424.0 million in 2022 and is anticipated to achieve USD 721.41 million by 2032, marking a 6% compound annual growth rate (CAGR) throughout the forecast period. One of the primary drivers behind this revenue growth is the increasing popularity of notoginseng root extract as a dietary supplement. This extract has demonstrated its effectiveness in addressing various medical conditions such as high blood pressure, diabetes, and heart disease, owing to its recognized anti-inflammatory, anti-cancer, and antioxidant properties.
The surging demand for notoginseng root extract products can be attributed to the growing prevalence of chronic diseases and the escalating interest in natural and alternative therapeutic options.
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Top Companies:
- Yunan Baiyao
- Phynova Group
- China National Pharmaceutical Group Co. Ltd. (Sinopharm)
- Guangzhou Hanfang Pharmaceutical Co. Ltd.
- Nanjing Zelang Medical Technology Co. Ltd.
- KPC Pharmaceuticals Inc.
Here are some key trends that were observed:
- Growing Popularity of Traditional Chinese Medicine (TCM): Notoginseng root, also known as Panax notoginseng or Sanqi, has a long history of use in traditional Chinese medicine. As interest in TCM and herbal remedies continued to rise globally, there was an increased demand for notoginseng root extract and related products.
- Health and Wellness Boom: Consumers were increasingly looking for natural, plant-based supplements and ingredients to support their health and wellness goals. Notoginseng root extract was perceived as having potential health benefits, such as cardiovascular health and anti-inflammatory properties, which contributed to its popularity.
- Research and Development: Ongoing scientific research on notoginseng's potential health benefits and therapeutic properties was a significant trend. This research aimed to provide scientific validation for the traditional uses of notoginseng and expand its applications in various health products.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Notoginseng Root Extract market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Notoginseng Root Extract market is provided to gain a deeper understanding of its growth and progress.
The global Notoginseng Root Extract market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook:
- Powder
- Liquid
- Capsule
- Others
Application Outlook:
- Pharmaceuticals
- Dietary Supplements
- Cosmetics
- Others
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