The Passion Flower Extracts Market is projected to reach USD 3.97 billion in 2027. The growing use of antioxidant compounds such as isovitexin, vitexin, quercetin, kaempferol, apigenin, rutin and luteolin glycosides are expected to stimulate demand growth in foodstuffs, pharmaceuticals and personal care products.
Extracts of organic passion flowers are expected to expand between 2019 and 2027. The importance of organic labeling in nutritional and pharmaceutical sectors is expected to encourage the use of Passiflora extract as functional ingredients due to increased knowledge about the freshness of products and the drawbacks of synthetic chemical ingredients. The product decreases the amount of soil pollution, which supports the health of the ecosystem.
One of the primary markets is projected to remain in the pharmaceutical industry. A growing number of health concerns, including insomnia and anxiety disorders, attributable to fluctuating diet and hectic working environments for the workers, are projected to push pharmaceutical firms to use passion floral extract as functional ingredients.
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In the coming years, Europe is expected to dominate the market of passion extracts. More than 15% of Europe’s population was affected by the insomnia, including night-time waking, difficult sleep at night, and exhaustion during the day in 2018 in 16 countries including Portugal, France, Germany, Spain and Italy. The high prevalence of insomnia in sleep induction drugs is expected to improve the use of passion floral extracts.
In order to launch new products and raise market share, businesses are investing in innovation and R&D.
The COVID-19 impact:
The COVID-19 pandemic does not impact the competitiveness of businesses. The key market leaders are unsure of the industry’s prospects and are trying to solve this issue. Most hospitals and other services have had a significant effect on their pandemic. There is no money to avoid rising lockouts in various parts of the world. With regard to COVID-19, demand for domestic product, export and imports decreased considerably. The biggest corporations in the world would tend to slash their budgets in order to create cash reserves. Eventually, real efficiency levels will contribute to more avenues for workers and organizations to fulfill their demands at much lower costs.
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Further key findings from the report suggest
- The demand growth for passion flower extract is driven primarily by the remedy industry, followed by the food and beverage industry as well as food supplements.
- The associated CNS effects are caused by the active ingredients of the passion flower extracts such as chrysin and pyrone derived maltol.
- From 2019 to 2027, organic products are projected to grow most rapidly in CAGR. The growing demand for organic products is driving increasing concerns about the impacts of hazardous chemicals found in traditional products.
- During the forecast era, the pharmaceutical segment will increase significantly. The segment growth is projected to be driven by high demand in pharmaceutical applications such as anxiety and insomnia cure.
- From 2019 to 2027 it is expected that the personal care segment will rise fastest. The product is rich in vitamins A and C, as well as essential fatty acids that protect the skin.
- The most rapid expansion of the 2019-2027 CAGR is expected in North America. In countries including the United States and Canada, a high prevalence of insomnia is expected to raise drug demand.
- In March 2019, BI Nutraceuticals, a leading full service producer and supplier of plant-based ingredients, was acquired by Martin Bauer Company. This acquisition is expected to create a large portfolio of the company’s botanical ingredients. This will also increase the US customer base for the product.
- Key players in the market include Saw Palmetto Harvesting Company, Monterey Bay Spice Company, Vitacost, Indena S.p.A., The Good Scents Company, Naturalin Bio-Resources Co., Ltd, SBL Global, Avena Botanicals, Alchem International Pvt. Ltd., and Martin Bauer Group, among others.
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For the purpose of this report, Reports and Data has segmented into the Passion Flower Extracts Market on the basis of Product, Application, and Region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Personal care
- Food and beverages
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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