Centella Asiatica Market

Market Outlook Outlook till 2032

The small herbal plant named Gotu kola is preferred for its medical properties at large. The plant is traditionally used in countries like India, Nepal, and Sri Lanka. It’s indigenous to Asian markets and widely applicable in medicine and personal care regime. Moreover, this belongs to the Apiaceae family and has been long known for its faster healing properties for small wounds and scratches. The plant is also known for its ability to cure a number of skin diseases, for which it is being widely used in a number of skincare products.

Centella Asiatica extracts are widely used for their traditional herbal remedy and culinary uses and have been used in Ayurveda for a very long time. A number of companies including Himalaya, SD Biotechnologies Co., Ltd. Nutricare Co., Ltd. Pairs of Horses Biotechnology Co., Ltd. Elishacoy are some of the companies using Centella Asiatica in their skin and personal care products. In some countries, it is also used as a vegetable and in beverages.

“The market is anticipated to gain growth with a CAGR of 3.3% in the forecast years.”

Why Centella asiatica is anticipated to grow in terms of demand?

The plant is majorly demanded multiple usages but caffeine-free beverages are dominant in the end user application. Often caffeine-free drinks are preferred for preventing mental fatigue and getting rid of depression. Extract from this plant is used as an antifungal and antibacterial healer in injuries.

Fast healing properties in this plant make it applicable as a pharmaceutical industry product. The cultivation of this is spread across subtropical and tropical regions owing to major demand in salad and raw vegetable consumption. However medical usage is anticipated to create a dominant market share for this market in the forecast period.

This is also used in skin care products manufacturing in western countries. Its extracts are among some of the key botanical extracts and some of the key factors driving the growth in the demand include increasing health awareness and self-medication behaviour among consumers, increasing lifestyle diseases, growth of online retail, increasing adoption of botanical supplements by geriatric population, liberal regulations for botanical supplements manufacturing and holistic benefits associated with consumption of botanical supplements. Major trends observed in the market are the inclination of consumers towards naturally derived products and the rising demand for botanicals in personal care products.

Why there is growth potential in this market in the forecast years?

Owing to the high diversity in uses of this plant across the globe the market is expected to gain growth in the forecast period. This expansion will not be limited in terms of sales or share by volume but also cover applications across various sectors. The use of Centella Asiatica is diverse across the globe.

Segment Wise Insights

On the basis of types, the market is dominated by stems and leaves for medicinal properties, and leaves are anticipated to gain the fastest growth in the forecast period. The extract of this plant is used in the treatment of skin issues. The plant is also used in the revitalization of brain cells and in healing wounds.

On the basis of end-user applications, the cosmetic segment is anticipated to go through the highest demand in upcoming years. The growth is attributed to the use of these plant parts in western countries for skin treatment. Skincare products are made using pulp and the leaves of this plant are dominant in application owing to conventional patterns in Asian countries.

Regional Outlook

The plant is dominantly used in Asia pacific countries in various applications. For example, In India, Centella Asiatica is known as Mandukparni, and is used in skin treatment, memory enhancement, and anxiety whereas in Southeast Asia it is used for treating a number of skin diseases, joint-related disorders, and mental-health-related disorders.

In China, the leaves of Centella Asiatica are prescribed to cure leucorrhoea and fever. In Madagascar, it’s also used to treat leprosy while in Malaysia, the leaves are commonly used as a vegetable in salads. Plant extracts are also used for healing wounds & scratches and are one of the key constituents of brain tonics for the cognitive retard.

Though Asia Pacific is the key market, its importance has been on a rise in the U.S. and Europe. Western countries have seen an increase in the sales of plant-based supplements owing to the factors such as higher levels of awareness and dependability on natural remedies. Changing lifestyles and dietary patterns also support the growth in demand for these supplements.

Competitive Landscape

The market is highly competitive owing to the increasing penetration of prominent players in the market. These companies are focusing on the enhancement of applications and improvement of products in the forecast period. The strategic investment in research is expected to give an upward trajectory to this industry. The Asian countries are expected to become the largest regional market for this plant expected to open opportunities for manufacturers in this region. The companies have started to opt for transformation in production methods and further integrating product property research for better market advantage. Some of the key players in the market are

• Guangxi Changzhou Natural Pharmaceutical Co., Ltd.
• Frank Biochem Co., Ltd.
• Lotioncrafter LLC.
• Alchem International Pvt. Ltd.
• S. V. Agro Food
• Sabinsa Corporation,

Segmentation

• On the basis of types:

  • Stem
  • Leaves

• On the basis of the application :

  • anti-microbial
  • anti-inflammatory
  • anti-cancer
  • neuro-protective
  • antioxidant, and wound healing
  • Others.

• On the basis of end uses :

  • cosmetic
  • non-cosmetic uses

• On the basis of Region :

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific ex.
  • Japan (APEJ)
  • Middle East & Africa (MEA).