Global Kalmegh Extract Market: Growth Drivers
The global kalmegh extract market driving factors are increasing demand for natural ingredients of kalmegh extracts in various medicines is important driving factor. Major driver behind increasing demand of kalmegh extracts in current market scenario is due to its medicinal properties. Nowadays consumers are mostly influenced towards that product which has natural quality, organic in nature and also good for their health, due to which it has higher demand among growing economies of world. On the other side as per the current market trend, kalmegh extract powder is trending in market because of its wide application in pharmaceutical products. This powder is mostly used in formulations of capsules, tablets, and other products.
Kalmegh is an herbaceous plant in the family of Acanthaceae which is a native plant respectively to India and Sri Lanka. Kalmegh is widely cultivated in Southeastern Asian countries, where its extracts is widely used for treating various infections and diseases. Mostly the kalmegh extracts are extracted from the kalmegh plant’s roots and leaves which are widely used for medicinal purposes. Kalmegh extract is the collection of essential crude mixtures from extraction of different parts of Kalmegh plant, which is extracted by using solvent such as ethanol. Kalmegh extracts contains desirable properties which are extracted from Kalmegh plant which is finding increasing and extensive uses in various industries such as pharmaceuticals for therapeutic properties and herbal medicines, cosmetics for functional properties in skincare related products, along with food and beverages products. Kalmegh extracts containing phytochemical compounds such as carotenoids are primarily used for curing cough, cold, sinusitis and others, that is fuelling the demand for global kalmegh extract market in near future. Kalmegh extracts can be used in the form of liquid and powder form. Pharmaceutical industries are using kalmegh extracts in their products due to the rising consumer demand for kalmegh extract medicines.
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Global Kalmegh Extract: Market Segmentation
The global kalmegh extract market is segmented on the basis of form, application, and distribution channel and region type. Market segment as per application, it is segmented on the basis of its form in powder and liquid. Among these form segment liquid segment is expected to contribute more that 50% market share and expected to grow at higher space. Another segment is on the basis of distribution channel which includes health stores, drug stores, online retailing and other (direct selling) distribution channels. On the basis of application, the market is segmented into pharmaceuticals, manures and fertilizers, and others. On analyzing the demand of kalmegh extracts in form of liquid, it was assessed that pharmaceutical industry acquires majority of share in terms of volume. Primary reason behind its increasing demand for kalmegh extracts in global level market is due to its richness in natural quality and organic nature. In pharmaceutical industry, kalmegh extracts powder is used for various diseases such as dermatitis, diabetes, cold, asthma, and for others. The global kalmegh extract market is also segmented on the basis of form primarily into powder, liquid and others. Among these, powder segment is expected to fuel the kalmegh extract market over the forecast period. Hence, the global Kalmegh extract market is expected to significantly increase the revenue contribution over the forecast period.
Global Kalmegh Extract Market: Regional Outlook
Geographically, the global kalmegh extract industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the most dominant region in global Kalmegh extract market. Increasing usage of medicines extracted from kalmegh plant coupled with rise of kalmegh extracts in supplements has strengthened the growth of global kalmegh extract market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
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Some of the key players identified across the value chain of the global kalmegh extract market includes HERBAL WORLD, Jaishreenath Herbals, CULTIVATOR NATURAL PRODUCTS Pvt.Ltd., Shree Botanicals, Alchem International Pvt. Ltd. and others. The companies are expected to expand their business by enhancing their product portfolio in global kalmegh extract market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global kalmegh extract market till 2025.