COVID-19 pandemic

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.

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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

Nature

Organic
Conventional

Extraction Method

Solvent Extraction
SCFE

End Use

Cosmetic & Personal Care
Food & Beverage Industry
Aromatherapy
Retail/Household

Distribution Channel

Business to Business
Business to Consumer

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

During the ongoing COVID-19 pandemic, more Canadian women working in technology agree that they have a good work-life balance and feel supported by their company, compared to Canadian women working outside of technology. However, they are more likely to report feeling like their career growth and goals have been stunted, and an astonishing 44 per cent of respondents agree that the pandemic notwithstanding, technology companies do not really want to hire women.

The survey shows that technology companies have done a good job helping women manage the new way of work: Women in technology are more likely to agree they feel supported by their company (63 per cent vs. 51 per cent in non-technology roles), have a good work-life balance (57 per cent vs. 50 per cent in non-technology roles) and feel more productive (54 per cent vs. 33 per cent in non-technology roles).

However, due to the pandemic, nearly half (48 per cent) of women in technology agree that their career growth or goals have been stunted, higher than those not in the technology sector (31 per cent). This is particularly true with younger women in the industry and those who are also caregivers. Over half (53 per cent) of younger generations are more likely to agree that their career growth or goals have been stunted than older generations (37 per cent). Nearly two-thirds (59 per cent) of women in technology who care for an adult and over half (52 per cent) of women with childcare responsibilities agree with the sentiment.

“Up to this point, Canadian technology companies have done a respectable job supporting women during the pandemic, but we need to do more,” says Gina Izumi, Senior Vice President of Sales, SAP Canada. “While the Canadian technology industry has ‘patched the problem’ of the pandemic in the short term, the underlying issue remains that nearly half the women working in tech feel like their employers don’t want to hire women, which surprised me. Tackling these challenges requires both accountability and transparency, and it’s incumbent upon us as an industry to ensure opportunities are accessible to everyone. We need to figure out how to truly become a more welcoming and inclusive space.”

The survey identifies other factors that technology companies need to address during and post-pandemic:

As a result of the pandemic, women in technology are more likely to feel unmotivated in their careers (45 per cent vs. 39 per cent in non-technology roles), feel stifled in their career growth or goals (43 per cent vs. 33 per cent in non-technology roles), and overall have felt their careers have been impacted negatively (41 per cent vs. 29 per cent in non-technology roles).
The majority of women in technology indicate it is important that their employer offers career growth workshops or programs (78 per cent vs. 68 per cent in non-technology roles) and increase informal meetings to foster employee engagement (74 per cent vs. 65 per cent in non-technology roles).While companies are still facing the challenges of the pandemic, the technology industry needs to focus on both recovery efforts and continuing to support women as future leaders.

“For all companies working in the Canadian tech sector, an inclusive culture needs to become a core company value and a strategic priority,” continues Izumi. “Like many Canadian tech companies, we at SAP Canada are still on this journey. We’re committed to creating a diverse team that makes us more effective in addressing the needs of our customers and partners, ultimately fostering innovation and growth.”

True Global Intelligence fielded an online survey on behalf of SAP Canada of 592 Canadian women who are professionals in technology and non-technology fields. The survey was fielded online from February 18 to March 2, 2021. Women in technology were identified as employed in a technology role or technology company.

Tag: COVID-19 pandemic

Hibiscus Extract Market to Rise at CAGR of 8.3% During Forecast Period, Observes TMR Study

Canadian Women in Tech Feel Employers Have ‘Patched the Pandemic’ but Worry about Career Prospects

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