The global Astragalus root extract market is set to grow from USD 358.2 million in 2023 to USD 525.1 million by 2033, expanding at a CAGR of 3.9% during the forecast period, according to Future Market Insights. This steady growth can be attributed to the increasing demand for natural ingredients in the pharmaceutical, food and beverage, and personal care industries.
Astragalus, a member of the Leguminosae family, is widely recognized for its health benefits, particularly its ability to boost the immune system and fight diseases. Its widespread use in Traditional Chinese Medicine (TCM) as a dietary supplement to combat conditions like fibromyalgia, fatigue, heart disease, and hepatitis has gained global traction, leading to a surge in demand for Astragalus root extract in recent years.
Astragalus root extract is gaining popularity for its medicinal properties, particularly in combating chronic diseases and enhancing the immune system. The demand for Astragalus root extract has been increasing across multiple sectors, including pharmaceuticals, food supplements, and personal care products. Notably, pharmaceutical companies in North America and Europe are aggressively investing in research and development of Astragalus-based products, further accelerating market growth.
Market Demand Drivers:
- Rising Adoption in Pharmaceuticals and Nutraceuticals:
- Astragalus root extract is extensively used in pharmaceutical formulations and dietary supplements due to its potential to strengthen the immune system and fight chronic diseases. Its applications in treating conditions like viral infections, immune disorders, and chronic fatigue syndrome are driving demand in this segment.
- Popularity of Traditional Medicine:
- The global rise in interest in Traditional Chinese Medicine (TCM) and other natural remedies has bolstered the demand for Astragalus root extract, particularly in Asia-Pacific, where herbal supplements are widely used for overall well-being.
- Growing Demand for Clean Label Products:
- Consumers are increasingly seeking natural, organic, and clean-label products, especially in the food and personal care sectors. Astragalus root extract, with its antioxidant and immune-boosting properties, aligns with these trends and is being increasingly adopted in personal care, functional foods, and beverages.
- Rising Incidence of Chronic Diseases:
- The rising prevalence of chronic illnesses, such as diabetes, cardiovascular diseases, and cancer, especially in North America and Europe, is also driving the demand for natural products like Astragalus root extract. It is being explored as an adjunct therapy in treating conditions like leukemia, lymphoma, and myeloma, which could lead to further growth in demand.
Regional Insights:
- North America Leading the Market:
- The North American region holds the largest market share, with the US accounting for more than 33% of the total share. The presence of large pharmaceutical companies and an aging population with a high prevalence of chronic diseases has contributed to the region’s dominance. The region’s focus on R&D and the aggressive marketing of Astragalus-based products have accelerated market growth.
- Europe as an Attractive Market:
- Europe, with its large aging population and rising healthcare expenditures, is an attractive market for Astragalus root extract. The region also has high rates of diabetes and cardiovascular disease, which is fueling the demand for preventive health solutions like Astragalus-based supplements.
- Asia-Pacific Emerging as an Opportunity:
- Asia-Pacific is emerging as an opportunistic market, particularly due to the high consumption of herbal supplements in countries like China and India. The rising awareness of the health benefits of Astragalus, coupled with a growing middle-class population, is expected to boost demand in the region.
Key Growth Factors:
- Increased Focus on Natural and Herbal Supplements:
- Consumers are gravitating towards natural remedies over synthetic drugs, fueling demand for herbal products like Astragalus root extract. As consumers become more health-conscious, the market is expected to see significant growth in both developed and developing markets.
- Growing Use in Cancer Treatment Research:
- Ongoing research into the use of Astragalus root extract in cancer treatments, specifically for leukemia, lymphoma, and myeloma, is expected to unlock new opportunities. The growing interest in alternative cancer therapies is likely to drive market expansion.
- Health Benefits Beyond Pharmaceuticals:
- Beyond pharmaceuticals, the extract’s use in personal care, cosmetics, and food and beverages industries is growing. The extract’s antioxidant properties and health-promoting benefits make it a popular choice in these sectors.
Key Takeaways:
- The Astragalus root extract market is expected to reach USD 525.1 million by 2033, presenting a lucrative investment opportunity.
- With increased research and product development in immune-boosting and chronic disease treatments, the pharmaceutical industry remains a key driver.
- North America leads the market, but the Asia-Pacific region offers emerging opportunities due to rising awareness and consumption of herbal supplements.
Astragalus root extract market segmentation
By Nature:
- Conventional
- Organic
- By product form:
- Powder
- Whole root
- Liquid
BY Application:
- Food and Beverage
- Personal care
- Pharmaceuticals
By distribution channel:
- Online
- Offline
By region:
- north America
- Latin America
- Asia pacific
- eastern Europe
- western Europe
- Japan
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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