The Fenugreek seed extract market has appreciably penetrated the medical sector, subject to its plethora of benefits with regard to human health in recent years, experts claim, it is still just a fraction of its multi potentiality. As fenugreek can be well grown across varied climatic conditions geographically, it is alleged to have wide genotypic variabilities, which, can open up new growth opportunities for fenugreek seed extract market giants. Ranging from temperate forests to tropical belt, fenugreek can be well cultivated across areas having an annual temperature range of 7.8-27.5 �C and an annual precipitation of range 300-1500 mm.
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The competitive hierarchy of fenugreek seed extract market is chronicled to get a bit consolidated over the ensuing years, boasting of a portfolio of renowned names like Arjuna Natural Extracts, Unique Organics, Nutra Green Biotechnology, Novoherb, and Bio-Botanica. The consolidation has been rather strengthened in recent years with international health organizations feverishly focusing on teaming up with global food manufacturers in a bid to skip the influence of middleman in the supply value chain.
For instance, somewhat toward the end of last year, the UNPA (United Natural Products Alliance) and the China Nutrition and Health Food Association have inked an MOU agreement in the latest U.S. Embassy ceremony at Beijing. Reportedly, the deal comes on the heels of promoting the exchange research activities between U.S. and China for a sustainable development of natural healthy products in both the nations. Fenugreek seed extract industry dynamics is deemed to get benefited by similar patterns of government initiatives in close cooperation with market participants.
The pharmaceutical sector, unquestionably, is one of the major application frontiers of fenugreek seed extract market. Touted as panacea, fenugreek is claimed to be one of the most primitive medicinal plants, that has been witnessing an extensive demand both from Western and Eastern herbal medicine since centuries. The increasing percentage of geriatric populace base vulnerable to diabetes, particularly type 2, is prompting consumers to incline more toward nutrient dense food consumption, which would most certainly push fenugreek seed extract market size.
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Top Key Players :
1. Arjuna Natural Extracts
2. Nutra Green Biotechnology
3. Ambe Phytoextracts
4. Unique Organics
5. Indus Biotech
7. Hunan nature biotechnology
8. Chereso Lifesciences
10. Creative Enzymes
Market Segment By Applications:
2. Food & Beverage
Pharmaceutical application, as per estimates, accounted for a significant share of fenugreek seed extract market share in 2016, accounting for almost USD 2 million. Besides being utilized in the treatment of diseases, the pharmacological properties of fenugreek seeds such as antifungal, anti-inflammatory, antibacterial, antihyperlipidemic, and antimicrobial, also contribute immensely in preventing onset of chronic diseases, metabolic diseases and oxidative damages in particular. Recent clinical research in fenugreek seed extract marketplace has further outlined the pharmaceutical utilization of these seeds with regards to gynecological problem.
A study published at the International Journal of Medical Sciences, in the year before last, depicted that fenugreek seed extracts also help in treating ovarian cyst as well as symptoms of PCOS. Needless to mention, the ongoing expansion in research activities in a bid to exploit the maximum potential of this medicinal herb would prove to be one of the major driving forces for fenugreek seed extract industry over the ensuing years.
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Now that the significance of fenugreek seeds is clinically confirmed in healthcare domain, experts believe the need of the hour is to consider this herb in massive research projects not only to widen the application portfolio of fenugreek seed extract industry, but also to bring extensive improvements in its mass production.
Asia Pacific is expected to surpass consumption of 190 tons by 2024. Improved socio-economic factors such as increasing disposable income and standard of living anticipated to fuel regional cosmetic industry. Rising demand for nutritive rich health supplements due to surge in obesity and diabetic cases will also foster regional industry growth. Presence of key manufactures in China and India expected to support fenugreek seed extract market expansion.
Europe is likely witness gain over 12% CAGR up to 2024. Increasing concern for healthy lifestyle is likely to influence consumer trends towards purchase of healthy dietary supplements in the region. Moreover, European Food Safety Authority (EFSA) approval for fenugreek seed extract application in consumer food and beverages will support product penetration in the region.
Major key players fenugreek seed extract industry includes Nutra green Biotechnology, Unique organics, Bio-Botanica, Chereso Life sciences, Creative enzymes, Novoherb, Hunan nature Biotechnology, Indus Biotech, Ambe Phytoextracts and Arjuna Natural Extracts. Major companies are anticipated to increase R&D investments and technological innovations to gain competitive advantage. Expansion of existing production facilities and collaboration with suppliers will be a key strategy to enhance market share.
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