Global Honey Bush Extract Market: Overview
Honeybush extract is the extract from honeybush plant which is cultivated only in South Africa, and so the region enjoys the monopoly in the honeybush segment. The demand of honeybush extract is exceeding supply around the globe. Due to relative growth of industries such as food and beverages, cosmetics and pharmaceutical, there is a stupendous increase in the demand of honeybush extracts. More than 40 percentage of honeybush is exported to Germany, while the consumption of herbal drinks is growing in European countries, thereby leading the growing demand of honeybush extracts in the region.
Global Honey Bush Extract Market: Drivers
Honeybush extracts help the human body to fight against germs and prevent from falling sick. Further, it takes care of health-related issues such as depression, anxiety, mood swings and relaxes the body so that we sleep comfortably. Honeybush tea extracts are like rooibos tea which is regarded as the healthy alternative because they are both antioxidant and caffeine free
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Global Honey Bush Extract Market: Restraints
Commercialization is the major barrier for the honey bush market as it is not commonly known to the mass audience. The cultivation enables the communal farmers to advance in the value chain of the local and international market, but a lack of commercialization has pulled back the full potential growth of the market. Also depletion of wildlife reserves due to a cultivation of honeybush market. A monopolistic approach of competition in honeybush extract market leads to the ultimate lack of innovation which consumers have to suffer in short and long run. One of the key restraints is the need of regulation and monitoring in the wild harvesting of the honeybush extracts.
Global Honey Bush Extract Market: Opportunity
Honeybush industry sector has the potential to grow to double its size in the area of employment, and there are several markets which are unexplored by the South African market. Increase in awareness among the developed and developing nation will ultimately benefit the honeybush extracts market
Based on application, the global honeybush extracts market is segmented into:
Ready to drink beverages
Global Honey Bush Extract Market: Regional Outlook:
The demand for Honeybush has always been high in the regions of European countries, due to increase in awareness of health &fitness among this part of the world. North American countries aren’t far behind in this race as they to have a larger share of demand. The demand is relative quite high then the supply by the regions of Asia Pacific, Europe, and North America.
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Global Honey Bush Extract Market: Key players
Cape honeybush Tea