Persistence Market Research (PMR) delivers key insights on the global forskolin market in its upcoming outlook, titled, ‘Forskolin Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026‘. In terms of value, the global forskolin market is projected to register a healthy CAGR of 8.0% during the forecast period, due to various factors, regarding which, PMR offers vital insights in detail.
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High Propensity for the Weight Management Segment in the Forskolin Market
On the basis of application type, the weight management segment is expected to maintain its dominance in the forskolin market, with a significant CAGR of 7.7% during the forecast period. The increased consumption of unhealthy high-calorie food has resulted in an inflated rate of obesity among children and adults in recent years. In North America alone, 34% of children consume unhealthy junk food. Forskolin is a herbal ingredient that helps lose excess weight, which has fuelled the demand for forskolin in the market over the years.
Asia Pacific to Witness Predominant Growth in the Forskolin Market
Being a developing economy and holding a high prevalence of poor health status population suffering from blood pressure, respiratory complications, insomnia, and others, Asia Pacific holds the highest growth rate of forskolin as compared to other regions, bound to the highest consumption and factors such as favorable government policies on herbal supplements. It is anticipated that, Asia Pacific would witness the highest growth rate of forskolin, accounting for 7.8% during the forecast period.
Growing Demand for Forskolin in the Sports Nutrition Industry
Building muscles, physical energy, and remaining fit are the key components of sports nutrition products. However, consumers are also embracing ingredients that help maintain their mental health. For this, a number of manufacturers of sports nutrition products are including nutrients that maintain cognitive health too, thus promoting mental, emotional, and physical health. Forskolin is obtained from a plant source, and is helpful for weight loss as well as muscle building. Moreover, the cyclic AMP level boosting the ability of forskolin has made it a very popular ingredient for the preparation of nutrition supplements. Thus, with the growing demand for sports nutrition in the coming years, the demand for forskolin is also expected to witness a significant increase.
Consumer Demand for Natural Products to Boost Forskolin Market Revenue Growth
The widespread shift in lifestyles attributed to a multitude of factors, including environmental awareness and an improving health and wellness education, have led to the increasing demand for natural products such as forskolin. Consumers want to know the source of the product and the exact type of ingredients present in it. Moreover, consumers are also ready to pay a premium price for natural products. There are many health benefits associated with natural supplements, which include weight loss, no obesity, natural cures, healthy lifestyle, and weight control. Companies are focusing on introducing new forskolin supplements with enhanced benefits to expand their product portfolio and increase their customer base.
This report covers the trends driving each segment, and offers analysis and insights of the potential of the forskolin market in specific regions. According to market attractiveness, Asia Pacific and North America are relatively more attractive regions in the forskolin market. Based on application, the forskolin market is segmented as weight management, respiratory disorders, insomnia, digestive disorders, and others.
Global Forskolin Market: Competition Dashboard
PMR has profiled some of the most prominent companies active in the global forskolin market, such as Sabinsa Corporation, Nutra Green Biotechnology Co., Ltd., Bioprex Labs, Varion Lifesciences Pvt. Ltd., etc., to provide a wider view of the global forskolin market.
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Global Forskolin Market: Key Insights
Key manufacturers and product developers of global forskolin are processing forskolin in user-friendly forms, such as dietary supplements, extract powders, and others. Forskolin is also blended with other herbal ingredients to provide additional benefits to consumers. Product developers and manufacturers are planning to incorporate forskolin in cosmetics and other personal care products, due to the increasing demand for herbal products.