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Asparagus Extract Market

Market Insights on Asparagus Extract covering sales outlook, demand forecast & up-to-date key trends

Asparagus Extract Market by Form (Liquid, Powder), End Use (Food Industry, Pharmaceutical, Nutraceutical and Others (e.g. Animal feed industry, etc.)) & Region Forecast till 2032

Asparagus Extract Market Overview

Global asparagus extract demand is anticipated to be valued at US$ 32 Billion in 2022, forecast to grow at a CAGR of 3.47% to be valued at US$ 45 Billion from 2022 to 2032.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 31 Billion

Expected Market Value (2022)

US$ 32 Billion

Anticipated Forecast Value (2032)

US$ 45 Billion

Projected Growth Rate (2022-2032)

3.47% CAGR

Asparagus extract, also known as Shatavari extract, is derived from Asparagus racemosus or Asparagus officinalis. Asparagus racemosus is used in industries such as nutraceuticals and pharmaceuticals because it is recommended by Ayurveda for the treatment of dyspepsia and gastric ulcers. Asparagus extract is made from the plant's spears, root, and stem.

Asparagus extract comes in powder, tablet, and liquid forms. Copper, selenium, natural folate, vitamin K, B1, B2, C, and E are all found in asparagus extract. It also has antioxidants like quercetin and glutathione. Asparagus extract is used as a dietary supplement because it lowers cholesterol, lowers blood pressure, regulates blood glucose levels, and provides many other health benefits.

Which are Some Prominent Drivers Spearheading Asparagus Extract Market Growth?

The increased health awareness among consumers has caused a shift in the global market because it has been observed that consumers prefer products that are organic, easy to consume, and provide health benefits. Asparagus extract is aligned with all of the trends and has antioxidant, antidepressant, and cholesterol-lowering properties, which are expected to drive the growth of the asparagus extract market. Globally, there has been a shift in the pattern of alcohol consumption over the years.

Excessive alcohol consumption has been shown to have a negative impact on health, causing liver damage and a variety of diseases. According to scientific studies, asparagus extract may help increase the activity of enzymes present in liver cells that are required for alcohol metabolism and can be used as a remedy to prevent a few diseases. Furthermore, the recent trend of using herbal medicines may entice manufacturers of pharmaceutical and health care industries to use asparagus extract, which is expected to be one of the major drivers of the asparagus, extract market's growth.

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What are the Challenges Faced by the Asparagus Extract Industry?

There is a lack of knowledge regarding the appropriate range of doses for asparagus extract. The dose may differ depending on the consumer's age, health, gender, and other factors. Consumers' lack of awareness about the asparagus extract dose may result in allergies, weight loss, and other health issues as a result of overdose, which is expected to limit the growth of the asparagus extract market.

Why is Asia-Pacific emerging as an Opportunistic Asparagus Extract Market?

Asia Pacific was the largest market for asparagus extracts and the trend is expected to continue into the forecast period. In terms of production, China is expected to remain the world's largest asparagus producer during the forecast period. This is expected to augment the market growth in the upcoming years.

Nandini Roy Choudhury
Principal Consultant
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How is Europe Contributing to Growth of the Asparagus Extract Market?

According to Future Market Insights, in many European countries, demand for asparagus extract exceeds supply, owing primarily to the impact of the April cold, which slowed production. The demand, on the other hand, is high, as more and more countries allow restaurants to reopen their doors. Thus, all these factors are expected to drive the asparagus extracts market in Europe during the forecast period.

Market Competition

Asparagus extract incorporation in various food products such as cakes, biscuits, cookies, and so on, as well as the development of nutritional innovative food products, may increase the asparagus extract market, as consumers prefer the use of nutritional and organic food products and are willing to pay more for health food products.

Chi's Enterprise, Inc., SA Herbal Bioactives LLP, SV Agrofood, Herbo Nutra, Sava Healthcare Limited, Xi'an Tianrui Biotech Co., Ltd, Maypro Industries, Inc., Shreedha Phyto Extracts, Navchetana Kendra, and Allpure Organics are among the key market players.

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Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 3.47% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Form
  • End Use
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Chi's Enterprise, Inc.
  • SA Herbal Bioactives LLP
  • SV Agrofood
  • Herbo Nutra
  • Sava Healthcare Limited
  • Xi'an Tianrui Biotech Co., Ltd
  • Maypro Industries, Inc.
  • Shreedha Phyto Extracts
  • Navchetana Kendra
  • Allpure Organics

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Key Segments Profiled in the Asparagus Extract Industry Survey

By Form:

  • Liquid Asparagus Extract
  • Powdered Asparagus Extract

By End Use:

  • Asparagus Extract for the Food Industry
  • Dairy Products
  • Bakery Products (Bread, Biscuits, etc.)
  • Others
  • Asparagus Extract for Pharmaceutical Use
  • Asparagus Extract for Nutraceuticals
  • Asparagus Extract for Other End Uses (e.g. Animal Feed Industry, etc.)

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global asparagus extract market to expand at a 3.47% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic asparagus extract market.

Chi's Enterprise, Inc., SA Herbal Bioactives LLP, SV Agrofood, Herbo Nutra, Sava Healthcare Limited, Xi'an Tianrui Biotech Co., Ltd, Maypro Industries, Inc., Shreedha Phyto Extracts, Navchetana Kendra, and Allpure Organics are some prominent Asparagus Extract manufacturers

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Asparagus Extract Market