Astragalus propinquus is a recurrent herb-like plant that belongs to the pea family. The immune enhancement properties of astragalus propinquus continue to bring immense traction to this herb for diverse medicinal applications. The growth of the astragalus propinquus market is likely to remain steady as several kinds of plant-based researches have recognized the extraordinary properties of this herb in restoring a depressed immune system back to normality. Furthermore, pharmacological studies and clinical trials have testified astragalus propinquus' remedial values in keeping away cold and supplementing in cancer therapies.
Growing awareness about astragalus propinquus as a protector against many mental and physical stresses are creating lucrative growth opportunities for the stakeholders. Astragalus propinquus market is likely to witness marked growth in near future owing to growing adoption of astragalus propinquus as an anti-inflammatory herb, which can also protect the immune system and the cardiovascular system. Furthermore, astragalus propinquus is wildly adopted in medicines to regulate diabetes-related problems, and relieve cold.
Growing applications of this medicinal herb to treat numerous diseases continue to underpin gains in the astragalus propinquus market. Companies are increasingly investing in advanced R&D of astragalus propinquus in a bid to determine the applications of this medicinal herb for other diseases. Furthermore, the growing demand for clean label medicine ingredients is driving the sales of astragalus propinquus.
Astragalus propinquus Market: Overview
Astragalus Propinquus is an immune-stimulating herb, which is used for different applications such as additives in food, pharmaceutical formulations, oils and solutions preparation, etc. The wide range of practical applications of the Astragalus propinquus leads to the demand from different industries over the forecast period.
The rise in the food and beverages and pharmaceutical industry is likely to expand the market for Astragalus propinquus as it has used as an indirect additive in the food products, such as tea and soups. The growing nutraceutical and fitness care industry will have a positive impact on the Astragalus propinquus market.
The new developments in the nutraceutical industry has led to an increase in the use of Astragalus propinquus due to its immune boosting properties. The rise in the packed nutritional tonics and beverages is likely to expand the market for Astragalus propinquus.
Astragalus propinquus Market: Market Dynamics
Rising use of Astragalus propinquus as an indirect additive in the food & beverages industry, the pharmaceutical industry and nutraceutical industry is the key driver for the growth of the global Astragalus propinquus market. Additionally, the demand for the natural and organic nutraceutical supplements is expected to create demand for the Astragalus propinquus market. Moreover, the growing demand for the herb tea and immune booster tonics & beverages is expected to increase the demand for the Astragalus propinquus market during the forecast period.
Additionally, the booming healthcare industry across the globe is expected to have a positive impact on the global Astragalus propinquus market. The rising expenditure on the nutraceutical products and dietary supplements are likely to expand the nutraceutical supplements industry which is expected to push the demand for Astragalus propinquus during the forecast period.
Moreover, the direct use of the Astragalus propinquus as a dietary supplement is in demand due to broad applications in the disorders like diabetes, inflammatory diseases which is likely to boost the growth of the Astragalus propinquus market.
Astragalus propinquus Market: Market Segmentation
The Astragalus propinquus market is segmented into different parts based on the form type, sales channel and geography. In the production of extracts of Astragalus propinquus, different form type has been used as per the requirement in the end product development process. Powder form is commonly used in the manufacturing of the Astragalus propinquus due to its precise formulations for tablets and used as ingredients in other formulations such as tea and soups.
Based on form type, the Astragalus propinquus market is segmented into:
- Direct Use
Based on sales channel, the Astragalus propinquus market is segmented into:
- Over the Counter (OTC)
- Modern Trade Channels
- Third Party Online Channel
- Convenience Stores
Astragalus propinquus Market: Regional Outlook
The Astragalus propinquus market has been categorized into seven critical regions: North America, Latin America, Europe, CIS & Russia, Japan, the Asia Pacific excluding Japan, and the Middle East and Africa. The Astragalus propinquus market is expected to register a healthy growth during the forecast period, as the food and beverages, pharmaceutical and nutraceutical industries are growing across the globe. The emerging economies are expected to create notable demand for Astragalus propinquus as there is lucrative growth in the nutraceutical industry. The Asia Pacific excluding Japan (APEJ) represents a considerably high market share, and the market is expected to grow at a significantly high growth rate due to the increasing population and changing food, and healthy habitats. China and India’s developing market is expected to have a positive impact on the growth of the Astragalus propinquus market. North America is a growing market due to high per capita income and the consumers’ high expenditure on the natural nutraceutical and pharmaceutical products.
However, few geographies of the globe unaware of the Astragalus propinquus natural herb used as a nutraceutical supplement, which is likely to hamper the growth of the regional market during the forecast period.
Astragalus propinquus Market: Key Players
Some of the major players in the Astragalus propinquus market are Novoherb Technologies, Nutragreenlife Biotechnology Co.,Ltd, Starwest Botanicals, Inc., Indigo Herbs Ltd, Kan Phytochemicals Private Limited, Oregon's Wild Harvest, HealthAid Limited, PhytoHealth Corporation and among others.
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