Global Asparagus Extracts Market Size To Grow At 5.1% CAGR From 2023 to 2030

Global Asparagus Extracts Market Analysis (2023-2030)

As per our research report, the global asparagus extracts market size is estimated to be growing at a CAGR of 5.1% from 2023 to 2030.

Asparagus officinalis and Asparagus racemosus are the sources of asparagus extract. Because it is suggested by Ayurveda for the treatment of dyspepsia and stomach ulcers, asparagus racemosus is employed in the nutraceuticals and pharmaceutical industries. The plant's spears, roots, and stems are used to make asparagus extract. A powder, tablet, or liquid form of asparagus extract is available. Copper, selenium, natural folate, vitamin K, vitamin B1, vitamin B2, and vitamin E are all present in asparagus extract.

The global economy had suffered because of movement restrictions in Europe and the rest of the world because of COVID-19. Delays were created by extra border inspections, which is problematic for perishable items. Furthermore, numerous governments quarantine trucks and/or drivers, resulting in significant cutbacks in ground fleet, particularly in Europe. Quarantines also apply to ships, causing them to stay in port longer, increasing the risk of product damage and delaying the delivery of products to markets. Due to travel restrictions, the farm crew has significantly diminished. The sector relies heavily on seasonal labour. With harvest season approaching, a lack of labour is a major constraint that could result in product loss and market shortages.

Because customers want organic, easy-to-consume products that provide health advantages, the global market has shifted as a result of rising consumer health awareness. This is one of the major drivers of the growth of this market. North America and Europe dominate the organic asparagus market, with both regions dramatically increasing organic asparagus imports and production in recent years. Asparagus extract follows all trends and possesses antioxidant, antidepressant, and cholesterol-lowering properties, which are expected to move the asparagus extract market ahead.

Secondly, the increasing trend of pharmaceutical and healthcare organisations using herbal treatments is driving the asparagus extracts market expansion.  Asparagus extract is made from the spears, roots, and stems of the plant. Asparagus extract is utilised as a dietary supplement because it lowers blood pressure, cholesterol, and blood glucose levels, among other things.

Lack of customer awareness of the dosage range and potential negative effects of asparagus is one of the main issues facing the market today. Although asparagus is safe to consume, little is known about the long-term safety of asparagus extract. Data on the safety of asparagus in kids, pregnant women, or nursing moms are insufficient. When consumed as a vegetable or utilized as a skin treatment, asparagus can occasionally induce allergic responses.

The market for asparagus extracts on a global scale offers a lot of room for expansion and diversity. Asparagus extracts are well-positioned to enhance their market share due to rising customer interest in natural and plant-based products. Innovative extraction and processing methods are actively being researched by manufacturers to improve the quality and shelf life of goods based on asparagus.

 KEY MARKET INSIGHTS: 

• Based on form, powdered asparagus extract is the dominating segment in the global asparagus extracts market. This is also the fastest growing segment. This is because of easy availability and ready to use formula. Due to its adaptability, extended shelf life, and simplicity of use, powdered asparagus extract has become very popular. Customers value its versatility because it may be included into a variety of goods, from dietary supplements to other gastronomic delights. Additionally, because of its concentrated nature, it can be packaged and transported effectively, lowering the possibility of spoilage and providing a seamless supply chain.
• Based on end user, Food & Beverage is the largest segment in the global asparagus extracts market. This is because asparagus extracts find wide-ranging applications in this industry, including the development of asparagus-flavored food products, beverages, and condiments. However, Pharmaceuticals and Nutraceuticals are considered to be the fastest growing. This growth is fueled by the increasing recognition of the therapeutic properties and health benefits of asparagus extracts.
• Based on region, North America is the largest segment in the global asparagus extracts market. This is because of high awareness among consumers regarding the health benefits of asparagus leading to its high consumption. Europe is considered to be the fastest growing region in this market. The market is expanding thanks to the region's growing use of asparagus in purees and soups.
• Companies playing a leading role in the global asparagus extracts market profiled in this report are Chi’s Enterprise, Inc., SA Herbal Bioactives LLP, Herbo Nutra, Sava Healthcare Limited, SV Agrofood, Xi’an Tianrui Biotech Co., Ltd, Shreedha Phyto Extracts, Maypro Industries, Inc., Navchetana Kendra, and Allpure Organics.

MARKET SEGMENTATION:

By Form:

• Powdered Asparagus Extract
• Liquid Asparagus Extract

By End User:

• Food & Beverage Industry
• Dairy Products
• Bakery Products
• Pharmaceuticals
• Nutraceuticals
• Personal Care & Cosmetics
• Others

By Region:

• North America 
• Europe
• Asia Pacific
• South America
• Middle East & Africa

For More Info, Request Sample Copy Of This Report @ https://virtuemarketresearch.com/report/asparagus-extracts-market/request-sample