Echinacea Market, By Product Type (Capsules, Ointments, Tablets, Emulsions, Extracts, and Creams), By Application (Food & Beverage, Cosmetics, Pharmaceuticals, and Essential Oils), By Form (Powder, and Liquid), and By Geography (EU, NA, APAC, LATAM, and MEA) Analysis, Size, Share, Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
The Echinacea market was valued at USD 1.34 billion by 2019, growing with 9.1% CAGR during the forecast period, 2021-2027.
Echinacea (also known as Coneflowers) are herbaceous perennials with large daisy-like flowers. It is a well-known garden flower having nine species and is widely cultivated in nurseries. Echinacea offers broad health benefits, boosts the immunity system, and aid in healing wounds. Its medicinal content is mostly extracted from dried roots, leaves, flowers, and seeds, thus making it extremely useful.
Market Dynamics
The major factor driving the global Echinacea market growth is the rising demand for herbal products and medicines across the globe. Echinacea offers numerous health benefits such as it reduces anxiety, lowers blood sugar level, boost immunity, treat skin problems, and might protect against cancer, thus it is gaining high adoption in the healthcare industry. For example, Echinacea For instance, according to the data published by the American Botanical Council, Echinacea is the top second-highest selling herb in the mainstream in 2018 with USD 110 million sales which were around 11% growth from the previous years. Furthermore, the growing prevalence of chronic conditions coupled with increasing spending of health & wellness boosts the product demand significantly.
Conversely, high cultivation cost, and lack of skilled labor is a major factor hampering the growth of the overall market. Cultivation of Echinacea is a long-term investment process associated with money and time and requires skilled labor. Nevertheless, growing investments in R&D and recent technological advancements to develop Echinacea products are projected to offer lucrative growth opportunities for the global market.
Product Type Takeaway
In terms of product types, the overall Echinacea market is segmented into capsules, ointments, creams, tablets, emulsions, and extracts. The capsules segment accounted for the maximum market share owing to the availability of several herb supplements in various sizes based on their form of usage. The capsule is a preferred formulation because the herbal extract contains the root, leaves powder, or extracts, which can be conveniently filled in capsules.
Application Takeaway
Based on the application, the worldwide market is segmented into food & beverage, cosmetics, pharmaceuticals, and essential oils. The food & beverage segment is dominating the target market and is expected to maintain its position over the forecast period. Changing the standard of living and lifestyle, coupled with unhealthy eating habits such as fast food are driving the segment growth. Additionally, growing awareness regarding natural ingredients in food items such as the use of turmeric, Flaxseeds, ginger is further supporting this product demand in this category.
Form Takeaway
Based on form, the target market is categorized into powder and liquid. The powder form is accounted for the leading share. Growing demand for herbal products, such as tea bags, in the powder form is influencing the growth.
Regional Takeaway
Among the different regions, the North America Echinacea market is predicted to grow due to its growing demand and widespread medical application such as treating colds, sore throats, and flue. For instance, according to the data published in the Journal of the American Botanical Council, the retail sales of herbal dietary supplements in the U.S. grew by USD 8 billion in 2017. Consumer spending surged by about USD 633 million, or 8.5%, from 2016. Thus, accounting strongest growth for the herbal supplements in the market. Echinacea is widely consumed in the U.S and Canada in the form of tea, pills, capsules, extracts, liquid, and dried herbs to boost immunity.
Europe Echinacea market share is anticipated to increase due to growth in the consumption of herbal products, especially in France, the U.K, Italy, and Germany. Asia Pacific Echinacea market is likely to expand at an exponential growth rate. Regional growth is anticipated primarily due to large population volume, growing demand for conventional medicine, and emergent exports of herbal products. Countries such as India, China, and Japan are accounting for the major revenue share.
COVID-19 Impact
The outbreak of coronavirus disease 2019 (COVID-19) pandemic has spread to almost 200 countries across the globe with the World Health Organization (WHO), announced it a public health emergency. The COVID-19 has affected the global economy in terms of production, demand, supply chain, etc., leading to a financial impact on firms. The pandemic has brought effects on many aspects, slowing supply chain, travel bans, flight cancellations, restaurants closed, and uncertainty about the future. The overall impacts of the COVID-19 are already starting to be felt, and will considerably affect the Echinacea market in 2020.
Key Vendor Takeaway
The leading players of the global Echinacea market include Nature’s Bounty, Nutragreen Biotechnology Co., Ltd., Arkopharma Pharmaceutical, Nutrascience Labs, Himalaya Drug Company, Bio-Botanica, Inc., Maat Nutritionals, Twinlab Corporation, Arnet Pharmaceutical, Solgar, Alfa Chemical Corp., Atlantic Essential Products, Nutraceutical Corporation, Greenwoods Herbal Extract, Changsha Huir Biological-Tech Company, Herbal Bio Solutions, Sundown Nutrition, Nutritional Supplement Manufacturers, Ancient Green Fields, Jarrow Formulas, Gaia Herbs, and Now Foods.
Key companies are actively engaged in collaborative agreements and acquisitions with other companies. For instance, Willmar Schwabe India, acquired Sanat Products to offer an extensive range of natural products across the globe. Sanat Product is involved in the marketing and manufacturing of nutraceuticals, pharmaceuticals, cosmeceuticals, and herbal extracts.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2027
TARGET AUDIENCE
- Traders, Distributors, and Suppliers
- Manufacturers
- Government and Regional Agencies
- Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ECHINACEA MARKET KEY PLAYERS
- Nutragreen Biotechnology Co., Ltd.
- Arkopharma Pharmaceutical
- Nutrascience Labs
- Bio-Botanica, Inc.
- Himalaya Drug Company
- Herbal Bio Solutions
- Maat Nutritionals
- Twinlab Corporation
- Solgar
- Alfa Chemical Corp.
- Arnet Pharmaceutical
- Atlantic Essential Products, Inc.
- Nutraceutical Corporation
- Greenwoods Herbal Extract Co. Limited
- Nutritional Supplement Manufacturers, Inc.
- Hunan Changsha Huir Biological Tech Co. Limited
- Sundown Nutrition
- Gaia Herbs
- Jarrow Formulas
- Nature’s Bounty
- Now Foods
- Ancient Green Fields
GLOBAL ECHINACEA MARKET, BY PRODUCT TYPE
- Capsules
- Ointments
- Tablets
- Creams
- Emulsions
- Extracts
- Others
GLOBAL ECHINACEA MARKET, BY APPLICATION
- Food & Beverage
- Cosmetics
- Pharmaceuticals
- Essential oils
- Others
GLOBAL ECHINACEA MARKET, BY FORM
- Powder
- Liquid
GLOBAL ECHINACEA MARKET, BY REGION
- North America
- S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. ECHINACEA MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Product Types
2.1.2. Market Snippet by Application
2.1.3. Market Snippet by Form
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. ECHINACEA KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. ECHINACEA INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
4.5. COVID-19 Impact Analysis
4.5.1. Pre-COVID-19 Impact Analysis
4.5.2. Post-COVID-19 Impact Analysis
5. ECHINACEA MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. ECHINACEA MARKET – BY PRODUCT TYPES
6.1. Overview
6.1.1. Segment Share Analysis, By Product Types, 2019 & 2026 (%)
6.2. Capsules
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.3. Ointments
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.4. Tablets
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.5. Creams
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.6. Emulsions
6.6.1. Overview
6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.7. Extracts
6.7.1. Overview
6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
6.8. Others
6.8.1. Overview
6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
7. ECHINACEA MARKET – BY APPLICATION
7.1. Overview
7.1.1. Segment Share Analysis, By Application, 2019 & 2026 (%)
7.2. Food & Beverage
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
7.3. Cosmetics
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
7.4. Pharmaceuticals
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
7.5. Essential oils
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
7.6. Others
7.6.1. Overview
7.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
8. ECHINACEA MARKET – BY FORM
8.1. Overview
8.1.1. Segment Share Analysis, By Form, 2019 & 2026 (%)
8.2. Powder
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
8.3. Liquid
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9. ECHINACEA MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Region, 2019 & 2026 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2015 – 2026 (US$ Million)
9.2.4. North America Market Size and Forecast, By Product Types, 2015 – 2026 (US$ Million)
9.2.5. North America Market Size and Forecast, By Application, 2015 – 2026 (US$ Million)
9.2.6. North America Market Size and Forecast, By Form, 2015 – 2026 (US$ Million)
9.2.7. U.S.
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.2.8. Canada
9.2.8.1. Overview
9.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2015 – 2026 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Product Types, 2015 – 2026 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Application, 2015 – 2026 (US$ Million)
9.3.6. Europe Market Size and Forecast, By Form, 2015 – 2026 (US$ Million)
9.3.7. Germany
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.3.8. Italy
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.3.9. United Kingdom
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.3.10. France
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.3.11. Rest of Europe
9.3.11.1. Overview
9.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2015 – 2026 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Product Types, 2015 – 2026 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Application, 2015 – 2026 (US$ Million)
9.4.6. Asia Pacific Market Size and Forecast, By Form, 2015 – 2026 (US$ Million)
9.4.7. India
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.4.8. China
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.4.9. Japan
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.4.10. South Korea
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.4.11. Rest of APAC
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2015 – 2026 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Product Types, 2015 – 2026 (US$ Million)
9.5.5. Asia Pacific Market Size and Forecast, By Application, 2015 – 2026 (US$ Million)
9.5.6. Latin America Market Size and Forecast, By Form, 2015 – 2026 (US$ Million)
9.5.7. Brazil
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.5.8. Mexico
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.5.9. Argentina
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2015 – 2026 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Product Types, 2015 – 2026 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Application, 2015 – 2026 (US$ Million)
9.6.6. Middle East and Africa Market Size and Forecast, By Form, 2015 – 2026 (US$ Million)
9.6.7. Saudi Arabia
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
9.6.8. United Arab Emirates
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 – 2026, (US$ Million)
10. KEY VENDOR ANALYSIS
10.1. Nutragreen Biotechnology Co., Ltd.
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Types Benchmarking
10.1.4. Strategic Initiatives
10.2. Arkopharma Pharmaceutical
10.3. Nutrascience Labs
10.4. Bio-Botanica, Inc.
10.5. Himalaya Drug Company
10.6. Herbal Bio Solutions
10.7. Maat Nutritionals
10.8. Twinlab Corporation
10.9. Solgar
10.10. Alfa Chemical Corp.
10.11. Arnet Pharmaceutical
10.12. Atlantic Essential Products, Inc.
10.13. Nutraceutical Corporation
10.14. Greenwoods Herbal Extract Co. Limited
10.15. Nutritional Supplement Manufacturers, Inc.
10.16. Hunan Changsha Huir Biological Tech Co. Limited
10.17. Sundown Nutrition
10.18. Gaia Herbs
10.19. Jarrow Formulas
10.20. Nature’s Bounty
10.21. Now Foods
10.22. Ancient Green Fields
11. 360 DEGREE ANALYSTVIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us