Rosmarinic Acid Market

Rosmarinic Acid Market Size and Forecast (2023-2028):

The Global Rosmarinic Acid Market size is expected to grow at a CAGR of 7.6% during the forecast period 2023-2028 to reach USD 243.76 million by 2028 from USD 127.48 million in 2022.

Market Overview:

Rosmarinic acid is a natural compound found in plants like rosemary, oregano, basil, etc. This acid has many health-supporting properties such as antioxidants, anti-inflammatory, and anti-cancer, which help to prevent conditions like cancer, diabetes, Alzheimer's disease, and many more. It prevents chronic diseases and aging by preventing a factor called oxidative stress. Other than this, rosmarinic acid has antimicrobial or antibacterial properties, which play a significant role in the food and beverages sector by keeping them fresh and safe to eat. It also finds various applications in medicines, beauty products, and others.

Recent Developments in the Rosmarinic Acid Industry:

• In 2020, Rosavel®, a completely novel natural preservation product with 98% high-purity rosmarinic acid produced by bioconversion without the flavor or color associated with rosemary, was launched in the market by Blue California and biotech company Conagen.

REPORT COVERAGE:

Drivers:

The rising demand for natural products is one of the significant drivers of the rosmarinic acid market growth. Rosmarinic acid is becoming an increasingly common ingredient as people prioritize using natural and plant-based compounds in their diets, beauty routines, and general health plans. Rosmarinic acid is a useful and attractive ingredient in a variety of products, from dietary supplements to natural cosmetics and functional foods, owing to the focus on clean labeling, regulatory support, and environmental sustainability. This ongoing demand for natural products is expected to keep driving the demand for rosmarinic acid and, hence, influence the market share.

The health benefits associated with rosmarinic acid are another driver propelling the rosmarinic acid market demand. The demand for products containing rosmarinic acid is rising as consumers grow more aware of the possible health benefits of this natural component. Rosmarinic acid is in high demand by health-conscious people due to its anti-inflammatory, antioxidant, and other health-promoting features. Due to consumer preference for natural products for their health and wellness requirements, its use in dietary supplements, nutraceuticals, and various healthcare products has increased. As rosmarinic acid helps to prevent various diseases such as cancer, diabetes, etc., it is greatly influencing the market growth.

Restraints:

The fluctuation in the supply of rosmarinic acid is a notable restraint on the rosmarinic acid market expansion. The availability of plants like rosemary, oregano, and basil, which are the primary sources of rosmarinic acid, is essential for its production. As a result, variables like weather conditions, changing seasons, and agricultural challenges have an impact on the quantity and availability of rosmarinic acid. Supply uncertainty can reduce market competitiveness and investment in products made using rosmarinic acid because companies may look for other reliable substitutes available in the market, which declines the demand for rosmarinic acid. Hence, this attribute is restricting the overall market growth.

The rosmarinic acid market demand is facing significant difficulties from other natural product substitutes. A range of substances and botanical extracts compete for attention in several industries due to the growing demand for natural and plant-derived products. Rosmarinic acid's dominance is being challenged by natural anti-oxidants, anti-inflammatory substances, and herbal extracts with comparable health benefits that compete for market share.

Opportunities:

The rosmarinic acid market demand has a significant opportunity due to the rising prevalence of chronic disease. With its anti-inflammatory and antioxidant properties, rosmarinic acid is a helpful natural substance for treating and preventing chronic diseases like heart disease, diabetes, and neurological disorders. Research proving its beneficial effects on inflammation and oxidative stress makes it an ideal component for dietary supplements and functional food addressing these health issues. Additionally, recent research into the neuroprotective effects of rosmarinic acid indicates possible uses in treating neurological illnesses. The use of rosmarinic acid in various products can satisfy consumer needs for natural options for disease management and prevention with this growing prevalence of chronic diseases, boosting the market expansion.

Another significant opportunity for rosmarinic acid market development is presented by the growing use of rosmarinic acid in the food and beverage industry. As more consumers want to make healthier choices, they are increasingly looking for natural and health-beneficial ingredients in their diets. Rosmarinic acid fits in this trend due to its antioxidant properties and potential health benefits. It can be used in a variety of food and beverage products, such as sauces, dressings, functional drinks, and snacks, to enhance flavor, extend shelf life, and offer health benefits. The market continues to move forward owing to rosmarinic acid's expanding applications.

COVID-19 Impact on Rosmarinic Acid Market:

The rosmarinic acid market growth was significantly impacted by the COVID-19 pandemic. Various challenges were introduced during this period, such as labor shortages, supply chain disruptions, and limited availability of raw materials, collectively declining the sales of rosmarinic acid globally. As rosmarinic acid has various health benefits, it helps people boost their immunity by consuming food and beverages made with it. This helped the market to retain its shares during the pandemic.

Rosmarinic Acid Market Segmentation Analysis:

By Product Type:

• >96% Purity
• <=97% Purity

The >96% purity segment is anticipated to dominate the rosmarinic acid market demand during the forecasted period. This is high-purity rosmarinic acid and finds numerous applications in pharmaceuticals and dietary supplements due to requirements for precise dosage and quality. As demand for drugs and dietary supplements is surging rapidly, the market growth is also expanding. However, the <=97% Purity segment is expected to grow at the fastest rate during the projected period. This segment belongs to low-purity rosmarinic acid and is commonly used in skin care products and food products due to its antioxidant and preservative properties. This attribute will help the market to grow significantly in the coming years.

By Form:

• Powder
• Liquid

By form, the powder segment is dominating the rosmarinic acid market demand during the anticipated period. As powder form rosmarinic acid can be easily blended into various formulations of food, cosmetics, and drugs, this form is in great demand. At the same time, the liquid segment is deemed to grow significantly in the upcoming years. As liquid form rosmarinic acid is more easily mixed into liquid products such as beverages, liquid drugs, etc., it is influencing the market demand for this segment.

By Application:

• Food and Beverage
• Pharmaceuticals
• Cosmetics & Personal Care
• Animal Feed

By application, the food and beverages segment is ruling the rosmarinic acid market share during the forecasted period. Owing to the use of rosmarinic acid as a natural preservative, flavor enhancer, and healthy ingredient in various foods and beverages such as sauces, snacks, and drinks. At the same time, pharmaceutical is the fastest-growing segment during the projected period. As rosmarinic acid is largely used in the formulations of drugs and dietary supplements, there is a growing market demand in this sector.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

By region, the North American region is dominating the rosmarinic acid market share during the anticipated period owing to the use of rosmarinic acid in expanding food and beverage and pharmaceutical industries in this region. Also, the region's growing preference for natural and healthy ingredients is promoting market expansion. However, the Asia Pacific region is expected to grow at a healthy CAGR during the forecasted period. The adoption of rosmarinic acid in the food, beverage, and pharmaceutical industries is driving the overall market expansion in this area due to the growing population, urbanization, and demand for natural products.

Key Players in the Market:

Major Key Players in the Global Rosmarinic Acid Market are

• Naturex (part of Givaudan)
• Kalsec Inc.
• Nutra Green Biotechnology Co., Ltd.
• Layn Natural Ingredients Corp.
• Blue California
• Hunan E.K Herb Co., Ltd
• Monteloeder
• Kingherbs Limited
• Hunan Nutramax Inc.
• Changsha Vigorous-Tech Co., Ltd.
• Shaanxi Yi An Biological Technology Co., Ltd