The global Forskolin Market size reached around USD 450 Million in 2021. The demand for forskolin is expected to create an incremental opportunity of USD 500 Million by 2022, projecting growth at a CAGR of nearly 8% to 9% during the forecast period 2022 to 2032.
On account of the growing application across the industries such as food & beverages, pharmaceuticals, cosmetics, and others, the sales of forskolin are estimated to surpass USD 1000 Million by the end of 2032.
| Report Attribute | Details |
|---|---|
| Forskolin Market Registered Base Value (2021) | USD 450 Million |
| Forskolin Market Expected Value (2022) | USD 500 Million |
| Forskolin Market Anticipated Value (2032) | USD 1000 Million |
| Forskolin Market Projected Growth Rate (2022 to 2032) | 8% to 9% CAGR |
Forskolin as a naturally occurring chemical compound, extracted from the roots of a tropical plant Coleus Forskohlii, commonly known as Indian coleus, related to the mint family and is found in regions such as India, Thailand, and Nepal.
This functional compound in generally used in biochemistry to increase the levels of cyclic adenosine monophosphate (cAMP) and in the study of cell physiology.
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Forskolin is garnering huge popularity across the pharmaceutical & dietary industry. It is finding a wide range of applications in the production of therapeutics medications for the treatment of diseases such as asthma, owing to its antitumor, antiviral, and antimicrobial properties.
In the past few years, a substantial rise in the incidence of cardiovascular and heart-related ailments & diseases is being witnessed worldwide, resulting in creating strong demand for associated therapeutics medications & supplements.
For instance, according to the Centers for Disease Control and Prevention, nearly 18.2 Million adults between the age of 20 to 70, or around 6.7% of the total population across the U.S. are incurring coronary artery disease.
As forskolin is extensively used in the production of medication for the treatment of heart-related disease and respiratory conditions, growing burden of cardiovascular diseases is projected to create high lucrative opportunities for growth in the global market.
There are a number of side effects associated with the consumption of forskolin such as a decline in blood pressure, fastening heartbeats, irritation in upper respiratory tract, restlessness in breathing, enlarging of the blood vessels in the eyes, headache, and others.
Growing awareness pertaining to such adverse effects on health is hampering the demand for forskolin.
Also, high cost and increasing availability of substitutes such as xantham gum are some other factors restraining the sales of forskolin in the global market.
South Asia is projected to account for the dominant share in the global forskolin market between 2022 and 2032, states Future Market Insights.
Demand for forskolin is increasing at a swift pace, owing to its growing usage in the formulation of dietary supplements & medications for the treatment of cancer, weight management, asthma, and glaucoma among others.
Hence, leading industry players are introducing novel forskolin-based dietary supplements to cater to the growing demand. For instance, in 2019, NutriJa, an Indian manufacturer of dietary supplements, announced launching a new Nutrija Coleus Forskohlii Extract for boosting metabolism. A slew of such product launches is anticipated to favor the demand in the South Asia market.
As per FMI, North America is estimated to emerge as a highly remunerative market for forskolin during the forecast period 2022-2032.
The prevalence of lifestyle diseases such as diabetes, obesity, and others is growing at a rapid pace across North America. For instance, according to the Trust for America Health, in 2020, more than 130 million people, or nearly 42.4% of the adult population in the USA were suffering from obesity.
Driven by its appetite suppressing, fat burning, enhancing metabolism abilities, and shifting customer preference towards all-natural & plant-based dietary supplements, forskolin is extensively being used in novel weight management supplements.
Hence, growing demand for dietary supplements due to the rising burden of obesity is expected to drive the sales in the North America market.
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Some of the leading players in the forskolin market are Nutra Green Biotechnology Co., Ltd., Cymbio Pharma Pvt. Ltd.,Bioprex Labs, Sabinsa Corporation, Wolfson Berg Limited, Varion Lifesciences Pvt. Ltd., Alchem International Limited, Flavour trove, Alexa Biotech Pvt. Ltd., and others others.
Leading participants in the forskolin market are focusing at adopting capacity expansion, collaboration, mergers & acquisitions strategies to gain edge in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8% to 9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast; Volume Forecast; Company Ranking; Competitive Landscape; Growth Factors; Trends and Pricing Analysis |
| Segments Covered | Concentration, Application, End Use, Region |
| Countries Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Nutra Green Biotechnology Co., Ltd.; Cymbio Pharma Pvt. Ltd.; Bioprex Labs; Sabinsa Corporation; Wolfson Berg Limited; Varion Lifesciences Pvt. Ltd.; Alchem International Limited; Flavour trove; Alexa Biotech Pvt. Ltd.; Others |
| Customization | Available Upon Request |
FMI projects the demand for forskolin market to expand at 8% to 9% value CAGR over the forecast period 2022-2032.
The forskolin market is dominated by South Asia, and this trend is projected to continue for the assessment period.
Nutra Green Biotechnology Co., Ltd., Cymbio Pharma Pvt. Ltd., Bioprex Labs, Sabinsa Corporation, Wolfson Berg Limited, Varion Lifesciences Pvt. Ltd., Alchem International Limited, Flavour trove, Alexa Biotech Pvt. Ltd., and others are some key forskolin manufacturer.
| Estimated Industry Size (2025E) | USD 3,705.8 million |
|---|---|
| Projected Industry Value (2035F) | USD 5,755.0 million |
| Value-based CAGR (2025 to 2035) | 4.5% |
| Market Value (2023) | USD 498.3 million |
|---|---|
| Market Projected Value (2033) | USD 930.8 million |
| Market CAGR (2023 to 2033) | 6.4% |
| Market Size (2023) | USD 14.84 billion |
|---|---|
| Market Size (2033) | USD 37.65 billion |
| Market CAGR (2023 to 2033) | 10% |
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