Eleuthero Market Size (2023 – 2030)

In 2022, the Global Eleuthero Market was valued at $1.2 Billion and is projected to reach a market size of $2.29 Billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 8.4%

Eleuthero is a traditional herb, with its roots in the Asia-Pacific region. It gained popularity due to the medicinal benefits it offers such as stress reduction, immunity boosting, stamina improvement, and others. With the rise in health awareness among consumers, it has gained momentum and is widely used as an ingredient in various herbal supplements. Eleuthero or Siberian Ginseng is popular because of its health benefits and therapeutic uses in treating various chronic diseases such as cancer, heart disease, sexual diseases, diabetes, and others. The future of this market holds positive, as researchers and medical professionals are continuously making efforts to make organic medicines and supplements that can cure fatal diseases. Further, the adoption of medicinal herbs in modern medical science is anticipated to boost the market presence of eleuthero.

Key Market Insights:

Eleuthero or Siberian Ginseng is a natural remedy for reducing fatigue and stress in the body. As per studies by the National Institutes of Health, 21 men and 69 women found that ginseng has medicinal properties and helps people in coping with chronic fatigue.

Furthermore, due to its beneficial health properties, ginseng is a proven cure for cancer. That is, as per the studies, a study of 905 cancer cases and 905 controls conducted in Korea proved that ginseng intake can reduce the impact of cancer with greater efficiency when used in powdered form in fresh slices, juices, or tea.

As per studies conducted in the USA, 20% of the respondents reported that medicinal herb helps in treating and preventing illness.

Furthermore, as per research conducted in the Journal of Epidemiology, women were the major and regular users of ginseng about 25.4%. Of which, most of them were on average older and had higher income.

Apart from this, Siberian ginseng is reported to treat sexual diseases and viral infections in people. That is, as per a study conducted by Mount Sinai, 93 people with herpes simplex virus (HSV) type 2, found that intake of Siberian ginseng reduces the number of outbreaks.

Eleuthero Market Drivers:

Rising demand for herbal and natural remedies to boost the market demand for Eleuthero.

As people become aware of the ill effects of synthesized medicines on the body, they are gradually shifting their preferences toward medicinal herbs for curing various health issues. Therefore, pharmaceutical companies are continuously making efforts to produce medicines containing eleuthero. Further, organic ingredients reduce the risk of side effects and improve the treatment rate of patients or individuals. Additionally, growing trends in personalized medicines are further boosting the usage of eleuthero in the market, as people seek healthy solutions for immune boosting and stress management.

The increasing geriatric population has boosted the demand for eleuthero in the market.

The elderly population is constantly rising, propelling the demand for natural and therapeutic medicines. Moreover, they are more prone to health issues such as decreased energy levels, low immunity, imbalance issues, diabetes, cardiovascular diseases, and others. With the help of Eleuthero, the elderly can minimize stamina and fatigue issues and improve their overall well-being. Further, the immunity and cognitive health-boosting properties of eleuthero, have proved beneficial for the elderly, as it contains antioxidants and adaptogenic compounds that help the body to maintain physical and mental balance.

Eleuthero Market Restraints and Challenges:

Limited information among consumers regarding the benefits of eleuthero can decrease the market demand for eleuthero. Consumers may misunderstand the herbal impact of eleuthero and thus not consume it due to misunderstanding the slow treatment process of eleuthero, as it is a natural ingredient.

Further, certain allergies and sensitivities of individuals to eleuthero can decline its market demand

Eleuthero Market Opportunities:

Eleuthero has various opportunities in the market that can increase its presence in the market. Rising trends in veganism and demand for a natural diet can positively impact the demand for eleuthero in the market. Moreover, athletes and sports persons are anticipated to be the major consumers of this herb, as it can help them increase their stamina, manage body fatigue, and improve immunity. Further, trends in personalized medicines and supplements can develop the market demand for eleuthero, especially eleuthero capsules/tablets. Apart from this, the growing online presence of pharmaceutical companies is further boosting demand for eleuthero from e-commerce platforms.

ELEUTHERO MARKET REPORT COVERAGE:

Eleuthero Market Segmentation: By Form

• Capsules/Tablets

• Extracts

• Powders

• Supplements

• Ready-to-Drink

• Others

In 2022, based on market segmentation by form, capsules/tablets occupy the highest share of about 20% in the market. Eleuthero are the most common form of capsules and tablets in the market, as they are easy to consume and offer quick results. Moreover, capsules/tablets allow manufacturers to add naturally active compounds in the capsules/tablets for improved effectiveness. Moreover, rising trends in organic medicines have induced manufacturers of pharmaceuticals to encapsulate eleuthero in gelatin or vegetarian capsules, thus minimizing risks and side effects to individuals.

The supplements segment is the fastest-growing segment during the forecast period. These are gaining traction in the market due to the rising demand for healthy diets by individuals. These supplements contain eleuthero and other natural ingredients that offer numerous nutritional benefits to consumers. These include weight and metabolism management, heart rate control, immunity boosting, and others. Moreover, trends in personalized supplements are increasing the usage of eleuthero in energy and stamina-boosting supplements for fitness enthusiasts.

Eleuthero Market Segmentation: By Distribution Channel

• Offline

• Online

In 2022, based on market segmentation by distribution channel, the offline segment occupies the highest share of about 25% in the market. The channel comprises of health and wellness stores, specialty stores, pharmaceutical companies, and others that offer various forms of eleuthero products to consumers based on their health requirements. Further, knowledgeable staff at these channels provide valuable insights regarding the benefits, side effects, and uses of Eleuthero products, thus influencing consumers’ buying decisions.

The online segment is the fastest-growing segment during the forecast period. The segment comprises online retail stores, specialty fitness websites, and e-commerce platforms offering various eleuthero products to consumers as per their usage preferences. Further, clear product description, product comparison, wide range of availability, access to expert advice on its usage, and faster delivery options are factors contributing to the growth of eleuthero in the market.

Eleuthero Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2022, based on market segmentation by region, Asia-Pacific occupies the highest share of about 27% in the market. The abundance of natural ingredients and the practice of traditional medicine systems in countries such as China, Japan, Russia, and India have contributed to the market for eleuthero in the region. Further, rising trends in health and fitness are propelling the demand for eleuthero powder and extracts in the region.

North America is the fastest-growing region during the forecast period. Rising trends in wellness and fitness among the young population and the presence of a large number of athletes and fitness communities have contributed to the growth of eleuthero in the region. Further, the influence of traditional medicinal systems in Asian countries has increased the interest of consumers in the USA to consume eleuthero to manage their overall well-being.

COVID-19 Impact Analysis on the Global Eleuthero Market:

The pandemic had a positive impact on the eleuthero market. During lockdown, there was an increase in health awareness among the people, which increased the demand for eleuthero during the pandemic. Further, immunity boosting was one of the major reasons to consume eleuthero-based medicines by the people. In addition, the closure of physical stores boosted the sale of eleuthero from e-commerce websites, especially online pharmacy websites. Moreover, eleuthero powder was increasingly demanded by fitness enthusiasts for mixing it in water or energy shakes for improved well-being of the body

Latest Trends/ Developments:

The global Eleuthero Market is reasonably split and fragmented with the existence of several global companies. These players are motivated to achieve higher market share by implementing different strategies, such as acquisitions, partnerships, and investments. Growing consumer demand for herbal supplements has induced manufacturers to increase the usage of eleuthero in mixes, powders, and medicines that can support the overall well-being of individuals. Further, product diversification is another factor developing the market for eleuthero, such as encapsulating the herb in natural ingredients, selling the powdered form of eleuthero in recycled packaging, and others. Moreover, energy supplements have gained momentum as an on-the-go consumption health product by consumers.

Additionally, at-home herbal or DIY formulations have increased the demand for eleuthero powders in the market. These include the use of powdered eleuthero in trails and mixes, energy shakes, and others. Furthermore, the increased online presence of pharmaceutical companies has enabled consumers to gain access to eleuthero from various regions around the world such as China, Russia, India, Japan, Korea, and others. Additionally, product innovations and the use of eleuthero in beverages, smoothies, drinks, soups, and syrups have further boosted its market presence.

Key Players:

1. Sunchlorella

2. Solray

3. Imperial Elixir

4. Carlyle

5. Nature’s Way

6. Herbonutra

7. Green Jeeva

8. Alpine Herb Company

9. Humming Herbs

10. Nature Root