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.
| Attributes | Details |
|---|---|
| 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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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.
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.
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.
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.
Principal Consultant
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.
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.
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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| 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 |
The Astragalus root extract market size is assessed to US$ 358.2 Million in 2023.
The Astragalus root extract market is expected to rise at a CAGR of 3.7%.
USA, China, Canada, Germany, China, India, United Kingdom, Australia are the major countries driving demand for Astragalus root extract market.
China Astragalus root extract market is projected to grow at a CAGR of around 3.3% over the next ten years.
Market share of Germany in Astragalus root extract market is about 22.10% of the global 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.
The global Astragalus root extract market is forecasted to surpass US$ 525.1 Million by the end of 2033.
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