The global passion flower extract market is anticipated to create a healthy CAGR of around 3.6% throughout the forecast period from 2022 to 2032. The global market was valued at USD 3.5 Billion in 2022 to reach a projection of USD 5.0 Billion by the year 2032. The growth of the market is attributed to the surging increase in the demand for organic-based products throughout the assessment period.
Increasing consumer awareness concerning the hazardous effects associated with chemical compounds in medicines nutraceutical products, food, and beverages is anticipated to bode well for the growth of the market. According to the reports by U.S.-based National Centre for Complementary and Integrative Health (NCCIH), passion flower extract is safe to use as an ingredient in sleeping pills.
Passion fruit is also known as Passiflora Incarnata which is a herbal supplement utilized in treating anxiety, insomnia, seizures, and hysteria. A perennial climbing vine native to South-Eastern North America, the passion flower is now grown throughout Europe. Furthermore, this herbal supplement is composed of the flowers, leaves, and stems of the passion plant. When it is utilized in complementary medicine, passion flower is available as infusions, teas, liquid extracts, and tinctures. Yet another prominent factor responsible for the surging demand for passion flower extract market is its high prevalence of the disorder combined with rising demand for products with natural anti-anxiety agents are expected to augment the market growth shortly.
Key Takeaways
- The passion flower extract market is predicted to gain immense traction over the forecast period, as it is known as a good source of an antioxidant compound including vitexin, Isovitexin, Kaempferol, Quercetin, Rutin, Apigenin, and Luteolin Glycosides.
- The quercetin present in the product consists of several bioactive effects on the nervous system that assists with overall relaxation. These aforementioned properties of the passion flower extract are expected to accelerate market growth during the forecast period.
- The passion flower extract is utilized as a functional ingredient, highly utilized for manufacturing various products within various sectors such as food & beverage, personal care, and pharmaceuticals among others.
- Propelling consumer awareness is attributed to the increasing hazardous effects associated with chemical compounds in medicines, nutraceutical products, food, and beverages is anticipated to augment the growth of the passion flower extract market over the analysis period.
- Some of the primary factors expected to bolster the growth of the global passion flower extract market are the massive adoption of plant-based extracts for numerous therapeutic applications.
- The growing number of in vivo studies on utilizing the anxiogenic and anticonvulsant effects is expanding the arena for personal care, functional food, and nutraceutical businesses, which in turn boosts the market growth.
Competitive Landscape
Some of the major players within the global passion flower extract market are focusing on research and development activities to identify more benefits of the passion flower extract. Owing to the presence of such a high number of participants, the market is highly competitive and fragmented. Considerable market size is accounted for by top players in the market. Furthermore, several regional players are also operating across key growth regions, particularly in Europe.
Some of the key participants present in the global Passion Flower Extract market include Naturalin Bio-Resources Co. Ltd., Alchem International Pvt. Ltd., Herb Pharm, Indena S.p.A., Avena Botanicals, Martin Bauer Holding GmbH & Co. KG, Givaudan, and Diana Food, among others.
More Insights into the Passion Flower Extract Market
The European market is expected to dominate the global passion flower extract market over the assessment period by accounting for a total of 3.0% CAGR during the forecast period. Europe is anticipated to hold the largest market share of around US$ 1.6 Billion.
Numerous European countries like Spain, U.K., and Germany have witnessed a significant spike in cases of insomnia over the last couple of years. As a consequence, European pharmaceutical manufacturers are shifting towards increasing their spending on manufacturing passion flower-infused products. This factor is anticipated to propel market growth in the forthcoming years.
North American region is predicted to generate significant revenue for the global passion flower extract market over the valuation period as it is expected to grow at a CAGR of 2% with a market value of USD 1.3 Billion.
North American region is predicted to account for a significant market share over the entire passion flower extract market across the projection period. The growth of the region is attributed to the high prevalence of cases of insomnia in the region is projected to propel the product demand in countries like Canada and the US.
Key Segments Profiled in the Passion Flower Extract Industry Survey
Passion Flower Extract Market by Nature:
- Organic Passion Flower Extract
- Conventional Passion Flower Extract
Passion Flower Extract Market by Form:
- Liquid
- Dry
Passion Flower Extract Market by End Use:
- Passion Flower Extract for Food and Beverages
- Passion Flower Extract for Pharmacological Uses
- Passion Flower Extract for Pharmaceutical Uses
- Passion Flower Extract for Nutraceutical Use
- Passion Flower Extract for Dietary Supplements
- Passion Flower Extract for Cosmetic and Personal Care
Passion Flower Extract Market by Distribution Channel:
- Direct Sales of Passion Flower Extract
- Indirect Sales of Passion Flower Extract
- Wholesale
- Online Retailer
- Supermarket
- Specialty Stores
Passion Flower Extract Market by Region:
- North America Passion Flower Extract Market
- Latin America Passion Flower Extract Market
- Europe Passion Flower Extract Market
- Asia Pacific Passion Flower Extract Market
- Middle East & Africa Passion Flower Extract Market
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