The new report by Expert Market Research titled, 'Global Chamomile Extract Market Report and Forecast 2021-2026', gives an in-depth analysis of the global chamomile extract market, assessing the market based on its segments like source, form, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Forecast CAGR (2021-2026): 9 %
The growth of global chamomile extract market is driven the demand for natural, organic, and herbal products. The increasing health awareness among the customers is the primary factor for the growth of the market. Further, the growing popularity of herbal tea and aroma therapy are aiding the growth. The increasing usage of herbal extracts in the food and beverage sector is significantly driving the growth. Additionally, the benefits of chamomile extract to treat insomnia caused due to sedentary lifestyle in the urban population will push the growth. However, increasing popularity of various other herbal products may be a constrain for the growth in the forecast period.
Industry Definition and Major Segments
Chamomile is a daisy like plant form the Asteraceae family of plants having two varieties namely, Roman Chamomile and German Chamomile. The extract of this plant is used in traditional medicine systems. Chamomile extracts have anti-inflammatory and antioxidant properties. It also has a healing effect on topical burns, bruises, wounds, and skin irritation. It also finds its uses in aromatherapy, cosmetics and beverages owing to its calming and soothing properties.
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By source, the market is bifurcated into:
The market is divided based on form into:
On the basis of application, the industry can be segmented into:
- Food and Beverages
- Traditional Medicine
- Scenting Agent
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Regionally, Asia pacific is the largest consumer of chamomile extracts. This can be attributed to the traditional consumption of chamomile in tea and medicine systems. However, North America and Europe are expected to show significant growth owing to the growing trend of utilisation of herbal and natural products. Moreover, the innovation in the packaged food and beverage sectors and growing usage of herbal extracts in drinks will aid the growth in the forecast period.
Key Market Players
The major players in the market are Mountain Rose Herbs, NOW Health Group, Inc., Herbo Nutra, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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