The Global Asparagus Extract Market demand was approximately USD 31 million in 2021. The market is foreseen to grow at a CAGR of 3.1% to reach a valuation of USD 42.3 million in the forecast period of 2022 - 2027.
Shatavari extract popularly known as Asparagus extract is obtained from Asparagus Racemosus or Asparagus Officinalis. Ayurveda recommends the use of Asparagus Racemosus for the treatment of gastric ulcers and dyspepsia. Hence, it is used in the pharmaceutical and nutraceutical industries. The extract is made from the plant’s root, stem, and spears.Asparagus extract is available in powder, liquid, and tablet form. It is a rich source of copper, natural folate, selenium, Vitamin B1, B2, C, K and E. Asparagus extracts also have quercetin and glutathione which are rich antioxidants. The other benefits of Asparagus extracts include reduced cholesterol levels, decreased blood pressure levels, regulated blood sugar levels and many more health benefits. Therefore, they are consumed as a dietary supplement. Therefore, owing to these characteristics global asparagus extracts market growth is on the rise.
The Asparagus Extract Market size is expected to grow and shows a positive trend across the world owing to the reasons for rising health consciousness amongst consumers.The rise in consumer health awareness has resulted in the shift in the Global Asparagus Market share.
The increased health awareness among consumers has caused a positive shift in the global Asparagus market growth as it has been observed that consumers prefer products that are easy to consume, are organic, and provide health benefits. Asparagus extract provides a lot of health benefits through its properties.
It acts as an antidepressant, and antioxidant, and has cholesterol-lowering properties, these properties are expected to boost the growth of the asparagus extract market by volume and share.Globally, there has been a movement in the pattern of consumption of alcohol over the years. The negative impact of the consumption of alcohol is well known to everyone. It damages the liver and causes a variety of other diseases. Scientific research has shown that Asparagus extract may help increase the activity of enzymes in the liver cells that are essential for alcohol metabolism and can be used as a remedy to mitigate the effects of certain diseases. Hence, this is expected to drive the market growth of Asparagus extracts.There has been a recent trend of utilizing herbal medicines globally. This may provide a lucrative opportunity to the manufacturers of healthcare industries and pharmaceuticals to use Asparagus extracts, which is anticipated to boost the growth of the Asparagus extract market volume in the upcoming years.
The appropriate knowledge regarding the apt use of the range of doses for Asparagus extract is lacking amongst the consumers. This paucity of knowledge regarding the dosage which differs with the consumer’s age, gender, health, and other factors is affecting the market growth of Asparagus extract. The lack of knowledge and the use of inappropriate dosage may cause weight loss, allergies, and other related health issues. These factors are hindering the growth and posing a threat to the Asparagus extract industry worldwide.
Recent Developments in the Asparagus Extracts Market:
New partnerships in the Asparagus market between Applewood Fresh Growers LLC with New Era’s American Asparagus offer new fresh Asparagus from the Michigan region. This is expected to boost the Asparagus extract market further.
Liquid Asparagus Extract
Powdered Asparagus Extract
The Asparagus Extract Market by form can be segregated into Liquid Asparagus and Powdered Asparagus. The powdered asparagus is the dominant category under this segment due to the easy availability and ready to use formula.
By End Use:
Asparagus Extract for the Food and Beverage Industry
Asparagus Extract for Pharmaceuticals
Asparagus Extract for Nutraceuticals
Asparagus Extract for Personal care and Cosmetics
Asparagus Extract for Other End Uses (e.g. Animal Feed Industry, etc.)
The Asparagus Extract Market based on the end-use application can be categorized into five segments. Asparagus Extract for the Food and Beverage Industry, Asparagus Extract for Pharmaceuticals, Asparagus Extract for Nutraceuticals, Asparagus Extract for Personal care and Cosmetics and Asparagus Extract for Other End Uses (e.g. Animal Feed Industry, etc.)The Food and Beverage Industry is the dominant segment in this category. The incorporation of Asparagus extract in the production of various food products such as biscuits, cakes, cookies and so on coupled with the development of innovative nutritional products is expected to drive the market growth further.Consumers prefer the use of organic food products which are nutritionally beneficial and are willing to pay more for healthy food products. The various health benefits provided by Asparagus extracts such as the antioxidant and antidepressant properties and many more are fostering the market growth globally.
The Pharmaceutical and the Nutraceutical industries are also gaining traction worldwide due to the extensive applicability of Asparagus extracts and the corresponding health benefits that can be derived from them. For instance, the healthy functioning of the liver enzyme, alignment of the Asparagus extracts with the herbal properties without any side effects etc are expected to boost the global asparagus extract market growth by volume and share.
The largest market for Asparagus Extract was the Asia Pacific and is expected to dominate the market in the forecast period as well. China is the world’s largest producer of Asparagus and this is supposed to augment the market growth in the forecast period as well. Other countries contributing to the growth of the market in this region are Japan, South Korea, India, Australia etc due to the rise in health-conscious consumers and disposable income of the consumers.
Europe is expected to see a significant rise in the growth of the Asparagus Extract market. Demand for Asparagus exceeds supply in this region owing to the impact of the April cold which hinders production. The demand for Asparagus is high in this region as more restaurants are reopening their outlets. The major countries in this region include Spain, the UK, France, Italy etc. All these factors are anticipated to drive the Asparagus Extracts market In Europe.
Middle East & Africa
Xi'an Tianrui Biotech Co., Ltd
Maypro Industries, Inc.
Shreedha Phyto Extracts
Global Asparagus Extracts Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extracts Market By Form , From 2022-2027 ( USD Billion )
Global Liquid Asparagus Extract Market By Region, From 2022-2027 ( USD Billion )
Global Powdered Asparagus Extract Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extracts Market By End-Use, From 2022-2027 ( USD Billion )
Global Asparagus Extract for the Food and Beverage Industry Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extract for Pharmaceuticals Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extract for Nutraceuticals Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extract for Personal care and Cosmetics Market By Region, From 2022-2027 ( USD Billion )
Global Asparagus Extract for Other End Uses Market By Region, From 2022-2027 ( USD Billion )
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