Transparency Market Research: The value of global hibiscus extract market stood at US$ 55 Mn in 2021. The global market is likely to rise at a CAGR of 8.3% during the forecast period, from 2022 to 2032. The global hibiscus extract market is predicted to attain the valuation of US$ 130.1 Mn by 2032. Antibiotic-resistant bacteria are growing more frequent, thus prompting researchers across the globe to explore new antimicrobial medicines. These antimicrobial compounds are derived from the hibiscus plant and effective against microbiological infections that are resistant to antibiotics.
R&D is being fueled by the increased need for toxicologically safe natural plant and flower-based antibacterial agents, especially for usage in food applications. Utilizing flower-based antimicrobial compounds has a number of benefits, including improving food preservation technology and enhancing the immune system in people.
Organic food and beverage (F&B) goods and medications have received a lot of attention from healthcare organizations in the wake of the global COVID-19 pandemic, as hibiscus extracts show remarkable prospects for the treatment of infectious illnesses.
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Firms in the global hibiscus extract market are working actively to expand the supply of herbal teas using natural hibiscus extracts, jasmine, and ginger, among many other ingredients. In the midst of continuing pandemic, eCommerce, online shopping applications, and social media are becoming important sales platforms. Since strict laws are observed during the transit of raw materials, the reopening of nation borders is assisting in the resolution of transportation and logistics challenges.
Key Findings of Market Report
- In the global hibiscus extract market, growing shift in consumer demand toward natural ingredients in cosmetics and personal care products is turning into revenue potential. As such, consumers’ purchasing decisions have transformed. Due to growing understanding, consumer demand for organic or natural products is increasing, thus putting a strain on floral extract manufacturers to create natural component blends.
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- As the usage of synthetic chemicals in manufacturing has expanded and consumers have become more aware of the harmful effects connected with compromised food products, buyers are demanding more clarity and information. Companies in the global hibiscus extract market are likely to take advantage of these developments by maximizing their profits.
Global Hibiscus Extract Market: Growth Drivers
- Antibiotic-resistant bacteria are growing increasingly widespread, driving scientists all around the world to explore for new antimicrobial drugs. These antimicrobial compounds come from the hibiscus plant and are more effective against bacteria that are resistant to antibiotics. This element is predicted to boost worldwide market growth.
- With a market value of 23.8% in 2022, Europe is predicted to lead the global hibiscus extract market. This is due to the rise in customer demand for nutritious and healthy food items & components, as well as the use of hibiscus extract as a skincare component in various personal care products and cosmetic items.
Global Hibiscus Extract Market: Key Competitors
- Naturalin Bio-Resources Co. Ltd
- Carrubba Incorporated
- FLAVEX Naturextrakte GmbH
- Martin Bauer Group
- Banyan Botanicals
- Firmenich SA
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Global Hibiscus Extract Market: Segmentation
- Solvent Extraction
- Cosmetic & Personal Care
- Food & Beverage Industry
- Business to Business
- Business to Consumer
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