Global Tongkat Ali Extract Market Overview
Global tongkat ali extract market is about to witness projecting growth in the upcoming years due to an increase in the demand for functional food. Tongkat ali extract is also known as Eurycoma longifolia, or longjack, which is a flowering plant, and is widely popular in various geographies including South East Asia, Indonesia, Malaysia and Thailand, amongst others. The extract is obtained from the roots of Tongkat Ali plant and is traditionally used for various health benefits such as aphrodisiac, and the ailment of disorder. It is known to treat diseases such as jaundice, diarrhea, dysentery, intestinal worm, etc. Apart from this, Tongkat Ali extract is also known to boost blood flow and reduces fatigue. The global market for tongkat ali extract is estimated to witness a healthy CAGR during the forecast period from 2018 to 2028.
Rising awareness about health benefits, growing demand for dietary supplements and increasing prevalence of obesity are driving the growth of tongkat ali extract market globally. Also, an increase in spending capability and increase in the number of health-conscious people results in the growth of the global tongkat ali extract market and is projected to further open new opportunities for the tongkat ali extract market in the coming future.
Global Tongkat Ali Extract Market Dynamics
Rising Demand for Tongkat Ali Extract in Dietary Supplement
Increasing demand for an alternative food supplement due to an ever-increasing sedentary lifestyle, and lack of physical activities have made them prone to various diseases. The growing concerns related to lack of physical activities and rising health problems increases the demand for dietary supplements, which boosts their life and make it healthier. Thus, consumers are shifting their preference to nutritional supplements, which contains tongkat ali extract and thereby, driving the growth of tongtak ali extract market globally.
Rising Demand for Herbal Medicines
With the rise in awareness about the health benefits of herbal medicines, consumers are continuously shifting their preference from conventional drugs to natural herbs. Recent technological growth and increase in the cultivation of tongkat ali plants in South Asian countries have brought vast opportunities for the market to grow in the future. Government has also taken various initiatives to increase the production facilities of tongkat ali extract. Moreover, rising awareness amongst consumers and increasing demand for herbal medicines have boosted the tongkat ali extract market globally.
High Cost of Tongkat Ali Extract to Restrain the Market
Tongkat Ali is majorly found in South Asian countries and smaller amounts in other Asian countries, such as Thailand, Indonesia and Malaysia, amongst others. But there are no big players in the market that fulfills the increasing need of tongkat ali market. Owing to a shortage in supply, the price of tongkat ali extract is very high. Therefore, the high cost of tongkat ali market constrains the growth of the market globally. However, this can overcome with an increase in plantation of tongkat ali plant and growing commercialization.
Global Tongkat Ali Extract Market Segmentation
The global tongkat ali extract market can be segmented on the basis of end-use application as:
- Dietary Supplements
- Cosmetics & Personal Care
- Sports Nutrition Drinks
- Functional Food
The global tongkat ali extract market can be segmented on the basis of nature as:
The global tongkat ali extract market can be segmented on the basis of geographical region as:
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Global Tongkat Ali Extract Market Regional Overview
Tongkat ali extract is very popular in South Asian countries as well as other parts of Asia Pacific. It is a traditional herbal plant of Malaysia and is known to consumers for ages. Also, due to diversification in the food processing industry, the export base of South Asian countries has expanded and boosted the growth of tongkat ali market in this region. Tongkat ali extracts are also popular in North America, and various manufacturers are processing tongkat ali extract locally. Herbal medicines are also famous in Europe, but tongkat ali extract is classified as an unauthorized novel food. However, the market has vast opportunities to grow in North America and Asia region.
Global Tongkat Ali Extract Market Key Players
Some of the key market participants in the global tongkat ali extract market are:
- LJack (M) Sdn Bhd
- Nutragreenlife Biotechnology Co.,Ltd
- Nutra Green Biotechnology Co.,Ltd.
- Beton Nutrition Corporation
- Tianjin Liesi International Trading Co.,Ltd
- RD Health Ingredients amongst others.
- Other Prom inent Players
The research report presents a comprehensive assessment of the Tongkat Ali Extract market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Tongkat Ali Extract market segments such as geographies, product type, and applications.
The Tongkat Ali Extract market report covers exhaustive analysis on:
- Tongkat Ali Extract Market Segments
- Tongkat Ali Extract Market Dynamics
- Tongkat Ali Extract Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis for Tongkat Ali Extract Market includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics, Eastern Europe, Rest of Europe)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel, Rest of MEA)
- East Asia (China, Japan, and South Korea)
- South Asia (India, Indonesia, Malaysia, Thailand and Rest of South Asia)
- Oceania (New Zealand and Australia)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of Tongkat Ali Extract. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation of Tongkat Ali Extract.
- Historical, current and projected market size of Tongkat Ali Extract in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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