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The Forskolin Market is Expected to Foresee Significant Growth. The U.S. to lead the growth!

The forskolin market is expected to witness a CAGR of around 8% during the forecast period. Forskolin is an herbal substance that is extracted from the root of a plant in the mint family and is found throughout regions of Nepal, India, and Southeast Asia. Although limited, peer-reviewed, scientific evidence is available for forskolin. The growth of the forskolin market during the forecast period is driven by some major factors such as weight loss benefits, obesity, glaucoma, allergies, dysmenorrhea, and treatments for eye & breathing conditions. In addition, it is also used to cure cancer and asthma in patients. For instance, as per the Centers for Disease Control and Prevention (CDC), about 3 million Americans have glaucoma. It is the second leading cause of blindness worldwide.

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Based on purity, the forskolin market is segmented into low concentration, medium concentration, and high concentration. In 2020, the high concentration category is anticipated to witness a significant growth rate during the forecast period. the growing demand for forskolin in the cosmetics sector. High purity forskolin is the purest form of forskolin, which is widely utilized in the cosmetic and skincare industries as a conditioning agent. Medium purity type is the second-largest segment due to its wide application scope in various food and beverage products. Moreover, there are some major factors for the growth of this segment such as rising obesity, allergies, asthma cases, and rising awareness of organic medicines. For instance, according to the American Cancer Society (ACS), in 2022, around 189,220 new cancer cases were estimated, coupled with 60,970 estimated deaths in the U.S.

Based on application, the forskolin market is segmented into dietary supplements, weight management, respiratory disorders, cardiovascular disorders, food & beverages, and others. In 2020, the dietary supplements category is anticipated to witness a significant growth rate during the forecast period. This is due to its nutritional & natural content which makes it safe for use, which has fueled the global demand. The growing awareness regarding the consumption of organic dietary supplements in developed countries can further contribute to the product demand over the forecast period. Additionally, apart from its use in dietary supplements, the product helps in the treatment of thyroid and reduces cardiovascular risks among its consumers. For instance, based on a survey taken by International Foundation for Gastrointestinal Disorders (IFFGD), irritable bowel syndrome (IBS) affects between 25 and 45 million people in the United States. About 2 in 3 IBS sufferers are female. About 1 in 3 IBS sufferers are male.

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For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. The rising growth of this factor in this region is mainly due to the rising awareness of organic medicines, increasing cancer, obesity, CVDs, government initiatives, and higher healthcare spending in the region. For instance, according to the Centers for Medicare & Medicaid Services (CMS), U.S. health care spending grew 9.7 percent in 2020, reaching US$ 4.1 trillion or US$ 12,530 per person.

Some of the major companies operating in the forskolin market include Shaanxi Jiahe Phytochem Co., Ltd., Sabinsa Corporation, Nutra Green Biotechnology Co. Ltd., Varion Lifesciences Pvt. Ltd., Bioprex Labs, Alchem International Limited, Flavour trove, Cymbio Pharma Pvt. Ltd., Glentham Life Sciences, Bayir Extracts Private Limited

Forskolin Market Segmentation

Market Insight, By Purity

  • Low Concentration
  • Medium Concentration
  • High Concentration

Market Insight, By Application

  • Dietary Supplements
  • Weight Management
  • Respiratory Disorders
  • Cardiovascular Disorders
  • Food & Beverages
  • Others

Market Insight, By Region

  • North America Forskolin Market
    • U.S.
    • Canada
    • Rest of North America
  • Europe Forskolin Market
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific Forskolin Market
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World Forskolin Market

Top Company Profiles

  • Shaanxi Jiahe Phytochem Co., Ltd.,
  • Sabinsa Corporation
  • Nutra Green Biotechnology Co. Ltd.
  • Varion Lifesciences Pvt. Ltd.
  • Bioprex Labs
  • Alchem International Limited
  • Flavour trove
  • Cymbio Pharma Pvt. Ltd.
  • Glentham Life Sciences
  • Bayir Extracts Private Limited

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