According to research by Future Market Insights, The Astragalus root extract market is anticipated to expand at a CAGR of 3.90%during the forecasted period. According to Forecasts, the market would be worth US$ 525.1 Million by 2033, up from US$ 358.2 Million in 2023.
Market size value in 2023
US$ 358.2 Million
Market forecast value in 2033
US$ 525.1 Million
Forecast period
2023 to 2033
Global growth rate (CAGR)
3.90%
Share of Germany in The Astragalus root extract Market
22.10%
The Leguminosae plant known as astragalus is well-liked by Chinese consumers for its ability to fight disease and strengthen the immune system. Astragalus is used as a dietary supplement to treat a variety of conditions, including fibromyalgia, heart disease, hepatitis, anorexia, fatigue, and diarrhea. The herbaceous perennial astragalus has a height range of 25 to 40 centimeters.
Plants are traditionally harvested four to five years after planting, and the roots are harvested in the spring or fall. The highly medicinal roots are first dried, then sliced, and distributed. The dried roots are yellow in color and fibrous in texture, with a sweet, moistening flavor.
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Historical outlook Vs Future forecasts for Astragalus root extract
According to Future Market Insights, the Astragalus root extract market was growing at a CAGR of 4.4% to reach USD 342.1 million in 2022 from USD 284.7 million in 2018.
Country wise insights
How North America Holds the Largest Market Share in The Astragalus root extract market?
The North America region is the largest market for Astragalus root extract. The US is the largest market for Astragalus root extract in North America, and it has more than 33% of the total share. The North American region is home to many large pharmaceutical companies that are engaged in research and development of Astragalus root extract. These companies have been marketing their products aggressively and this has resulted in a high demand for these products from consumers. North America has a high demand for Astragalus root extract due to its high quality and low cost.
The North American region is home to a large number of the aging population and has a high incidence of chronic diseases, which has led to an increase in demand for Astragalus root extract.
This means that there is an increased need for treatments that can fight off these diseases and also treat symptoms related to these conditions.
What makes Europe an Attractive Market for The Astragalus root extract?
Europe is the largest market for the Astragalus root extract. The region has a large population of people who are aging and are at risk of developing chronic diseases.
The Astragalus root extract has been used in traditional Chinese medicine for centuries to promote health and longevity.
It is commonly used as a treatment for conditions such as diabetes, cardiovascular disease, high blood pressure, and respiratory conditions.
Europe has one of the highest rates of diabetes in the world with over one-fifth of adults suffering from diabetes. It also has one of the highest rates of heart disease in Europe with 1 in 3 adults being affected by cardiovascular disease.
Europe is an attractive market for The Astragalus root extract because of its large population and rising health care expenditure.
Why is Asia Pacific Emerging as an Opportunistic The Astragalus root extract Market?
Asia Pacific is emerging as an opportunistic market for the Astragalus root extract. The region has witnessed a significant growth in the consumption of health supplements and herbal medicines, especially in countries like China and India.
The Asia-Pacific region has been witnessing a significant growth in the consumption of health supplements and herbal medicines. The trend is more prominent in China and India. It is expected that this will lead to an increase in demand for Astragalus root extract as well.
The most important reason for Asia Pacific emerging as an opportunistic region for this market is the presence of a large number of manufacturers, distributors, and end-users.
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Category wise insights
How is the Pharmaceutical Industry Supporting Growth of the Astragalus root extract Market?
Pharmaceutical industry is supporting the growth of the Astragalus root extract market by providing a wide range of products that are used for various purposes.
The pharmaceutical industry is supporting the growth of the Astragalus root extract market by providing a wide range of products that are used for various purposes. The products include medicines, supplements, and cosmetics.
There are two types of pharmaceutical companies: those that produce drugs and those that provide medical devices, such as stents and pacemakers. Pharmaceutical companies have been investing in R&D to develop new drugs and therapies to address unmet medical needs.
By Application, which Category will experience Maximum the Astragalus root extract growth?
Astragalus root extract is used as a traditional Chinese medicine to treat various health conditions. It is mainly used for treating viral infections, chronic fatigue syndrome, and other immune disorders.
The application of Astragalus root extract in the treatment of cancer is still being researched. However, it has been shown to be effective in the treatment of leukemia, lymphoma, and myeloma.
What's the maximum growth rate for Astragalus root extract? The maximum growth rate for Astragalus root extract will be in the category of cancer treatments due to its effectiveness in treating leukemia, lymphoma, and myeloma.
Competitive landscape
The competitive landscape of Astragalus root extract market is rapidly evolving as manufacturers are continuously innovating and productizing the natural ingredient. In recent years, the growth of dietary supplements containing Astragalus root extract has surged significantly due to its health benefits. As a result, there has been an increase in the number of manufacturers entering this lucrative market. This has led to intense competition for market share between existing players and new entrants alike.
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These are some of the major players in the Astragalus root extract market
Nutragreen Biotechnology Co.
Xi'An Sanwei Biotechnology Co.
Mountain Rose Herbs
Z Natural Foods
LLC
Wine brewing equipment market report scope
Attribute
Details
Forecast period
2023 to 2033
Historical data available for
2018 to 2022
Market analysis
USD million in value
Key regions covered
North America
Eastern Europe
Western Europe
Japan
South America
Asian pacific
Middle east and Africa
Key countries covered
USA
Germany
France
Italy
Canada
United Kingdom
Spain
China
India
Australia
Key segments covered
Nature
Product form
Application
Distribution channel
Region
Key companies profiled
Nutragreen Biotechnology Co.
Xi'An Sanwei Biotechnology Co.
Mountain Rose Herbs
Z Natural Foods
LLC
Report coverage
Market Forecast
Company Share Analysis
DROT Analysis
Market Dynamics
Competitive Landscape
Challenges
Strategic Growth Initiatives
Customization and Pricing
Available upon request
Astragalus root extract market segmentation
By Nature:
Conventional
Organic
By product form:
Powder
Whole root
Liquid
BY Application:
Food and Beverage
Personal care
Pharmaceuticals
By distribution channel:
Online
Offline
By region:
north America
Latin America
Asia pacific
eastern Europe
western Europe
Japan
Frequently Asked Questions
How big is the Astragalus root extract market?
The Astragalus root extract market size is assessed to US$ 358.2 Million in 2023.
At What Rate is Astragalus root extract market expected to rise?
The Astragalus root extract market is expected to rise at a CAGR of 3.7%.
Which are the major countries driving demand for Astragalus root extract market?
USA, China, Canada, Germany, China, India, United Kingdom, Australia are the major countries driving demand for Astragalus root extract market.
At what rate will the China Astragalus root extract market grow?
China Astragalus root extract market is projected to grow at a CAGR of around 3.3% over the next ten years.
What is the market share of Germany Astragalus root extract market?
Market share of Germany in Astragalus root extract market is about 22.10% of the global market.
Who are the top 5 players operating in the market?
Nutragreen Biotechnology Co., Xi'An Sanwei Biotechnology Co., Mountain Rose Herbs, Z Natural Foods, LLC. are expected to be the top players driving the market growth.
What is the demand outlook forecast for the Astragalus root extract market?
The global Astragalus root extract market is forecasted to surpass US$ 525.1 Million by the end of 2033.
