Elecampane Root Market by Nature, Form, End Use, Distribution Channel & Region | Forecast 2023 to 2033
The primary driver fueling the growth of the Elecampane Root market is the various end use applications it has. Explore more Growth Trends with FMI Team!
Elecampane Root Market Outlook from (2023 to 2033)
The global Elecampane Root market is expected to reach a market valuation of US$ 851 million by 2023, recording a CAGR of 5.4% from 2023 to 2033.
The herb known as elecampane, which is indigenous to parts of Europe and Asia, is used to make elecampane root. In various regions of North America today, it is also grown. The elecampane root is employed in medicine. It is mostly used to treat lung conditions like asthma, bronchitis, whooping cough, and many more. The elecampane root has extensive therapeutic capabilities that have been demonstrated in several trials, but the medical board has not yet approved its usage. As a result, elecampane root is sold without a prescription over the counter.
Elecampane Root Market Size (2023E)
US$ 851 million
Elecampane Root Market Projected Size (2033F)
US$ 1,440 million
Value CAGR (2023 to 2033)
5.4%
Top 3 Countries Marketing Share
61.7%
Elecampane root is commonly sold in dried form, either as a whole root or as a powder. It is also offered as a variety of dietary supplements, including pills and tinctures. Elecampane root can range in price depending on the form and the store where it is bought, but it is generally thought to be inexpensive.
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How Has the Market Progressed So Far in 2022?
Market Statistics
Details
Jan–Jun (H1), 2021 (A)
5.2%
Jul–Dec (H2), 2021 (A)
5.1%
Jan–Jun (H1),2022 Projected (P)
5.0%
Jan–Jun (H1),2022 Outlook (O)
4.9%
Jul–Dec (H2), 2022 Projected (P)
5.4%
Jul–Dec (H2), 2022 Outlook (O)
5.5%
Jan–Jun (H1), 2023 Projected (P)
5.3%
Historic v/s Future Outlook Comparison for Elecampane Root?
Elecampane root's market has been slowly expanding recently due to the rise in popularity of herbal and natural medicines. As more people turn to natural remedies in place of conventional care, this trend is probably going to continue. The market for elecampane root is anticipated to keep expanding in the future due to rising consumer awareness of its health advantages. Also, the rising desire for natural and organic products is projected to promote the expansion of the market for elecampane root and other traditional medicinal herbs.
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Medicinal Properties of Elecampane Root
Although though it has been used for the same purpose since very early times, the medicinal benefits of the elecampane root have just recently come to light. Elecampane root is being used in a wider range of products, and more study is being done to learn more about its qualities. The elecampane root is not widely cultivated. In order to meet the increasing demand, people in North America have begun growing elecampane root naturally on farms. But after the medical board approves of the elecampane root, the desires for it will expand considerably.
Comparative View of Associated Market
Cajeput Oil Market:
Attributes
Cajeput Oil Market
CAGR (2023 to 2033)
5.9%
Market Value (2023)
US$ 504.7 million
Growth Factor
It is produced by distilling the tree's fresh leaves and is mostly used in aromatherapy. The cajeput oil reduces discomfort, relieves gas, unclogs congestion, and fights infections.
Key Trend
In cosmetic products, cajeput oil is used to cure skin infections and relieve discomfort. In the food and beverage industry, it functions as a flavoring agent.
Cottonseed Oil Market:
Attributes
Cottonseed Oil Market
CAGR (2023 to 2033)
3%
Market Value (2023)
US$ 4,293 million
Growth Factor
The demand for cottonseed oil is expected to rise throughout the projected period because it is a popular frying and cooking oil that is used in the creation of snacks, baked goods, confections, and other culinary products.
Key Trend
In addition, cottonseed oil is utilized in sauces, salads, spreads, and dressings because of its enhanced stability and neutral flavor.
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Country-wise Insights
How the Sales of Elecampane Root Market Shaping in North America?
The sales of elecampane root in North America have been expanding significantly in recent years, as more individuals become interested in alternative solutions for various health conditions. Elecampane root is a popular choice for individuals looking for natural cures because it has a long history of use for digestive and respiratory problems, both of which are common in North America. Elecampane root is offered in a variety of ways in North America, including as a dried root, tea, tincture, and supplement. It can be purchased online, at natural food stores, health food stores, and herbal shops.
Why is there a Rising Demand for Elecampane Root in Asia Pacific?
The increased demand for elecampane root in Asia Pacific can be linked to numerous factors. For ages, especially in China, India and Japan, elecampane root has been utilized as a traditional medicine in Asia. Its usage in conventional medicine has boosted its appeal in the area. Growing knowledge of the potential health advantages of natural and herbal therapies has sparked an increase in interest in these treatments throughout Asia and the Pacific in recent years. The demand for elecampane root and other conventional medicinal herbs has increased as a result of this tendency.
Category-wise Insights
Based on Form
The dried root is the most popular product form, although users who prefer a more practical and ingestible choice also favor tea and tincture. Due to the rising need for nutritional supplements and natural cures, the supplement form is becoming more and more popular.
Based on Application
The most prevalent product form is dried root, however tincture and tea are also popular with consumers who want a more useable and ingestible option. The supplement form is expanding in acceptance as demand for dietary supplements and natural remedies rises. Pharmaceutical is the industry who is using the Elecampane Root.
Application by the Foodservice Industry
Elecampane root has been noted for its harsh taste and a pungent flavor. The chefs have been inspired to explore by its mild scent. The elecampane root has begun to be used in food items by chefs in the food service industry. Numerous chefs notably in the North America are coming up with recipes that has elecampane root in it. The advantages that the elecampane root offer is widely known. Yet, because of how bitter they taste, they are typically not drunk every day. So, chefs have come up with this notion. Moreover, elecampane root is now being grown on a farm in Pennsylvania and sold as candied elecampane root, elecampane root elixir, and other products.
Competitive Landscape
The Elecampane Root market is only slightly fragmented. The major market players are concentrating on expansion tactics like mergers and acquisitions and extending their distribution networks to increase their market position. The manufacturers in the market used a variety of competitive methods, including product releases, free-from claims, and organic and natural origin claims.
Scope of the Report
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
US$ million for Value and Metric Ton for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa
Key Countries Covered
United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others.
Key Segments Covered
Nature, Form, End Use, Distribution Channel, and Region
Key Companies Profiled
Mountain Rose Inc.
Napiers Herbals Ltd.
Monterey Bay Spice Company
Starwest Botanicals Inc.
Organic Herb Trading Co.
Furnace Creek Farm
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Elecampane Root Market by Category
By Nature:
Organic
Conventional
By Form:
Cut-Form
Powdered
Liquid
By End Use:
Beverages
Non-Alcoholic
Alcoholic
Foodservice/ HoReCa (Hotels, Restaurants, Cafes)
Pharmaceuticals
Nutraceuticals
Animal Supplement
Personal Care & Cosmetics
Household/Retail
By Distribution Channel:
B2B/ Direct
B2C/ Indirect
Supermarket/ Hypermarket
Specialty Stores
Drug Stores
Online Retailers
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Frequently Asked Questions
What is the global Elecampane Root Market reported by FMI for 2023?
The Elecampane Root Market is valued at US$ 851 million for 2023.
What is the Elecampane Root Market valuation expected for 2033?
The Elecampane Root Market valuation is expected to be US$ 1,440 million in the year 2023.
What is the projected CAGR for the Elecampane Root Market from 2023 to 2033?
The value of CAGR for the Elecampane Root Market is estimated to be 5.4%.
Which segment type will garner significant value share by 2023?
The Foodservice Industry would garner a significant market value share by 2023.
