Industry Background:
Fenugreek is an annual plant that is also known as methi in many places in the world. It is a member of the bean family and its scientific family name is Fabaceae. Fenugreek seeds are used for herbal healing and have many important health benefits. Fenugreek seed extracts have gained exceptional traction as a medicinal herb and are therefore rapidly penetrating the medical, cosmetic, and Food & Beverage sectors. Further, many pharmaceutical companies are expected to invest in R&D solutions to launch better quality products, which will eventually drive product penetration. Also, increasing government regulations on consumer safety regarding chemically processed medicines are factors which are propelling the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Arjuna Natural Extracts (India), Nutra Green Biotechnology (China), Ambe Phytoextracts (India), Unique Organics (India), Indus Biotech (India) and Bio-Botanica (United States) |
According to AMA, the market for Fenugreek Seed Extract is expected to register a CAGR of 13.4% during the forecast period to 2030. This growth is primarily driven by Growing Demand for Natural & Healthy Ingredients, Changing Dietary Patterns of Consumers, Increasing Spendings on Personal Care Products and Intake of Nutritious Diet and Nutrient- Concentrated Diet.
Globally, a noticeable market trend is evident Antimicrobial and Antioxidant Properties of Fenugreek Seeds
The Agricultural Products sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Arjuna Natural Extracts (India), Nutra Green Biotechnology (China), Ambe Phytoextracts (India), Unique Organics (India), Indus Biotech (India) and Bio-Botanica (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The Global Fenugreek seed extract market is fragmented with several players. The industry is expected to witness collaboration between exporters and manufacturers in producing companies, skipping middleman in the chain. Increasing scientific R&D initiatives by various food organizations in close cooperation with industry participants is anticipated to propel fenugreek seed extract market expansion over the projected timeframe.
Key Developments in the Market:
In November 2020 (Wiredrelease) Global Market Insights, Inc Research has recently published a study titled ‘Global Fenugreek Seed Extract Market Research Report’. In this report, analysts have provided a detailed evaluation of the global Fenugreek Seed Extract market. The report is inclusive of a completely comprehensive study of the Fenugreek Seed Extract Market
In February 2022, Vestige Marketing Limited, India's only direct selling brand, has announced the launch of Vestige Pre-Gluco Health Capsule, a health capsule specifically designed to manage pre-diabetes as it works on glucose metabolism with insulin sensitivity.
Regulatory Insights:
In 2013, the European Food Safety Authority (EFSA) approved the fenugreek seed extract application in consumer food and beverages industry.
Influencing Trend:
Antimicrobial and Antioxidant Properties of Fenugreek Seeds, Rising Energy-Rich Foods and Nutrient-Dense Foods Consumption and Rapid Healthcare Industry Expansion Coupled with Recent Advances in Nutraceutical Research
Market Growth Drivers:
Growing Demand for Natural & Healthy Ingredients, Changing Dietary Patterns of Consumers, Increasing Spendings on Personal Care Products and Intake of Nutritious Diet and Nutrient- Concentrated Diet
Challenges:
Fluctuating Raw Material Prices is Posing a Challenge for the Market
Restraints:
Can Cause Complications in Hypersensitive Individuals which can Hamper the Market Growth
Opportunities:
Increasing Fenugreek Production and Export Activities and Growing Penetration of Herbal Products in Personal Care Category
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Fenugreek Seed Extract Market
- Analysis about New Entrants in Fenugreek Seed Extract Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Fenugreek Seed Extract Study Sheds Light on
The Fenugreek Seed Extract Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Fenugreek Seed Extract industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Fenugreek Seed Extract industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.