Oak extract is a dietary supplement, made from the bark of the various types of Oak tree. Oak is well known for its medicinal properties and is of high importance in several countries occurring most of Europe, from southern Scandinavia to the Mediterranean, and from Ireland and western Scotland to the Ural Mountains in Russia. Oak extract is prepared from bark and is available in powder as well as liquid form. The extract is widely used for different purposes such as cosmetics and skin care products, pharmaceuticals, dietary supplements, etc. Oak possess tannins, vitamins, minerals and various other plant acids, which are healthy for humans. Oak extract is known for antiseptic, astringent and Anti-flammatory properties curing the urinary tract problems, skin etc. Owing to the health benefits and increasing health consciousness among individuals is expected to fuel the growth of Oak extract market.
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Europe accounts for relatively high number of Oak trees comparing to other regions although consumption is low as export is primary focus. Increasing health consciousness among consumers has driven their inclination towards natural products as it is proven that naturally occurring products are relatively more better and safe than synthetically produced products.
Oak Extract Market: Segmentation
Oak extract market can be segmented on the basis of form, end-use applications, sales channel and region.
On the basis of form, Oak extract can be segmented into powder and liquid. Powder segment is expected to dominate the market over the forecast period, owing to increasing use of powder in formulation in dietary supplements.
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Oak extract market is segmented on the basis of end-use application into pharmaceuticals, food and beverages, cosmetics and skin care, dietary supplements, and other applications. Other applications include teas, oils etc. Pharmaceuticals is expected to account for a significant share over the forecast period.
Oak extract market is further segmented on the basis of sales channel into Direct and indirect sales. Direct sales here refers to direct selling of extract as an ingredient to other companies such as food and beverage industries, cosmetics and skin care industries etc. Indirect sales accounts for sales direct to the consumers as an end product. Indirect sales is further sub-segmented into drug stores, health specialty stores, online retailers and other retailing formats.
On the regional basis, Oak extract market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific and Middle East and Africa (MEA). Europe accounts for relatively high exports of Oak and related products.
Oak Extract market: Drivers, Restraints, and Trends
Due to change in the market trend, people are more interested in natural products which will play an important role in fueling the growth of present Oak extract market. Increasing awareness of functional foods and dietary supplements is expected to drive the market over the forecast period. Awareness about associated health benefits of Oak extract as a dietary supplement, food ingredient etc. is also expected to drive the sales. Increasing inclination of women and men towards using natural products in cosmetics is also expected to drive the growth of Oak extract market. Widely known benefits of Oak extract in alleviating internal ailments is also expected to be a driving force over the forecast period.
Usage of Oak extract along with other medications could be harmful, which could be considered as a restraint. Consumption of healthy food products and dietary supplement is trending across the globe.
Oak Extract Market: Regional Outlook
On the basis of region, Oak extract market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Europe accounts for relatively high production of Oak in comparison to other regions.
In terms of consumption, Europe holds the Oak extract market, owing to the reason that people are inclined to use natural products at a great extent. Asia pacific and Middle East and Africa lags behind in term of consumption. Although Western European countries holds relatively high share in terms of production, but domestic consumption is quite high in these countries, hence accounts for relatively low exports.
Oak Extract Market: Key Players
Some of the prominent manufacturers of Oak extract are Flavor Producers, Inc., Tanin Sevnica d.d., AEB Group, Indena, Parchem, Nexira, Nutra Green Biotechnology Co., Ltd and other regional players.