Maca Extract Market Scope
Maca extract is found in the maca plant root. The maca plant grows particularly at high altitudes and comes from the Andes in Peru. The plant has strong traditional uses in Latin America and is known for improving fertility and as an aphrodisiac. The exotic status of maca plants, beneficial functional properties, and high traditional usage means that the plant is called a superfood. Similar to other superfoods from the Latin America region, the Maca root and its derivatives are expected to experience growth and eventual stabilization. Maca is considered a unique superfood that increases energy, improves stamina, and increases libido. Maca extract is also rich in essential minerals like phosphorus, iodine, potassium, sodium, manganese, calcium, iron, and magnesium. Maca root extract is found in many leading nutritional supplements for men and is widely used to treat hot flashes, memory loss, stress, depression, and fertility. Maca stimulates the pituitary and hypothalamus, the glands that are responsible for regulating other important glands. This, in turn, helps rebalance the testicular, ovarian, and adrenal glands, pancreas, and thyroid.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Peruvian Nature (Peru), Koken Co. Ltd. (Japan), Symphony Natural Health (United States), Inca Health (Peru), MG Natura (Peru), Pebani Inversiones (Peru), StandPeru (Peru), Phyto Life Sciences (India), Jiaherb Inc. (United States), Pioneer Herbal (India) and Green Life (India) |
CAGR | % |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United Kingdom Players will contribute to the maximum growth of Europe Maca Extract market throughout the predicted period.
Peruvian Nature (Peru), Koken Co. Ltd. (Japan), Symphony Natural Health (United States), Inca Health (Peru), MG Natura (Peru), Pebani Inversiones (Peru), StandPeru (Peru), Phyto Life Sciences (India), Jiaherb Inc. (United States), Pioneer Herbal (India) and Green Life (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Yuansn Biological (China), Yongyuan Bio-Tech (China) and Naturalin (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Maca Extract market by Type , by Application (Health Drugs, Healthy Foods, Nutritional Supplements and Others) and Region with country level break-up.
On the basis of geography, the market of Maca Extract has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2022 Thiess Group Holdings Pty Ltd's (BBB-/Stable) proposed acquisition of Australia-listed mining services company MACA Limited is part of the company’s strategy to diversify its operations across commodities, services and geographies. Importantly, the transaction will lead to a decrease in Thiess’s leverage, as its shareholders will provide equity to fund the acquisition, combined with the cash at MACA, says Fitch Ratings.
In September 2022 Hikvision has launched its MinMoe Iris Recognition Terminal, providing a higher level security solution for the access control market.
Influencing Trend:
The Increasing Health Consciousness, The Increasing Its Role of Maca Extracts in Therapeutic and Medicinal Solution and Rising Willingness of Consumers to Spend More on High Quality and Exotic Products
Market Growth Drivers:
The Natural and Organic Status of Most Maca Plants, The Rise in Consumption of Products Especially Natural-Based Products and The Increasing Prevalence of Infertility Issues
Challenges:
Low Awareness and Availability
Restraints:
High Price and Lack of Strong Scientific Evidence
Opportunities:
New Product Launches and Technological Innovations in Extraction Process and The Usage of Maca Extracts as a Nutritional Substance
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, and Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry