Global Astragalus Supplements Market, By Form (Tablets, Capsules), Application (Food and Beverage, Dietary Supplements), Sales Channel (Direct/B2B, Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Health and Wellness Stores, Other Retailing Format, Online Retailing) – Industry Trends and Forecast to 2029
Astragalus Supplements Market Analysis and Size
The demand for astragalus supplements has significantly increased over the past few years all over the world, and is expected to do so throughout the remainder of the projected period. Astragalus supplement sales are growing due to suppliers expanding their geographic reach in response to the global millennial consumer base. Additionally, astragalus supplement preference is growing among consumers as a result of rising health consciousness and awareness of the benefits of astragalus supplements. This rise in supplement adoption is anticipated to support market expansion.
Astragalus supplements market was valued at USD 0.74 billion in 2021 and is expected to reach USD 1.35 billion by 2029, registering a CAGR of 7.80% during the forecast period of 2022-2029. The “astragalus supplements joven” accounts for the largest product type segment in the astragalus supplements market within the forecasted period owing to the fact that the lifespan of astragalus supplements joven is much more compared to other segments, and thus, it is highly adopted. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Market Definition
Astragalus (also known as milk vetch or huang qi) basically originates from a certain bean or legume. While astragalus comes in a variety of species, Astragalus membranaceus is the one included in most astragalus supplements. The plant is reported to have numerous health advantages for a variety of ailments, including advantages for the heart. Astragalus supplements are made out of the astragalus.
Astragalus Supplements Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Form (Tablets, Capsules), Application (Food and Beverage, Dietary Supplements), Sales Channel (Direct/B2B, Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Health and Wellness Stores, Other Retailing Format, Online Retailing)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA)
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Market Players Covered
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Clasado (U.K), MEGMILK SNOW BRAND Co.,Ltd (Japan), FrieslandCampina (Netherlands)., Yakult Honsha Co., Ltd. (Japan), Nissin Sugar Co., Ltd.(Japan), Ingredion (U.S.), First Milk Limited (U.K), Kerry Group (Ireland), Kowa Europe GmbH. (U.K), VITALUS NUTRITION INC (Canada), Lactose (India) Limited (India), FrieslandCampina Ingredients (Netherlands) and SAMYANG OPTICS (South Korea)
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Market Opportunities
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Astragalus Supplements Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Numerous Health Benefits of Astragalus
It is the most significant naturally occurring active ingredient in A. membranaceus and possesses a wide variety of pharmacological activities. It controls immune function by boosting the immune organ index, encouraging immune cell proliferation, triggering cytokine release, and affecting immunoglobulin (Ig) secretion and immunological signaling. Astragalus has anti-inflammatory and antibacterial properties. To cure wounds, it is administered to the skin. Astragalus has been proven in research to have antiviral properties and to boost the immune system, suggesting that it may help prevent colds. Moreover, a lot of therapeutic settings employ APS. Its ability to control the immune system has been demonstrated in several in vitro and in vivo studies. Consequently, such health benefits of the astragalus, further accelerate the adoption of the astragalus supplements.
Furthermore, the surging amount of stress being associated with modern lifestyle further increases the demand for organic and premium products fuels the market growth. The rise in the demand for healthy food and beverages combined with the rise in the demand from emerging economies also cushions the market’s growth within the forecasted period.
Opportunities
- Consumer Awareness and Growing Investments
The surging awareness regarding the health concerns in individuals and consumption of organic and natural ingredients are estimated to generate lucrative opportunities for the market, which will further expand the astragalus supplements market's growth rate over the anticipated timeline. Additionally, the continuously rising research and development investments will also offer numerous growth opportunities within the market.
Restraints/Challenges
- High Cost
However, the studies have noted adverse effects such a rash, itching, runny nose, nausea, and diarrhea caused due to the consumption of the astragalus in some people. This may cause lesser adoption of the supplements and thus hinder the overall adoption rate of the market over the forecast period.
- Production of Astragalus
Also, the production of astragalus is currently dependent to a certain region. This further negatively impacts the availability of astragalus supplements within areas, where the production of the astragalus is lesser. Consequently, this factor will largely hamper the market’s overall growth rate.
This astragalus supplements market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the astragalus supplements market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In October 2021, Three gummy formulae with a relaxing focus were released by Gaia Herbs. The business introduced ashwagandha, sleep, and relax gummies, all of which are USDA-certified organic candies. The recently released gummies contain herbal supplements with increased functional advantages and better taste for a better customer experience. They are made with components sourced sustainably.
Global Astragalus Supplements Market Scope
The astragalus supplements market is segmented on the basis of form, application and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Tablets
- Capsules
Application
- Food and Beverage
- Dietary Supplements
Sales Channel
- Direct/B2B
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Health and Wellness Stores
- Other Retailing Format
- Online Retailing
Astragalus Supplements Market Regional Analysis/Insights
The astragalus supplements market is analyzed and market size insights and trends are provided by country, form, application and sales channel as referenced above.
The countries covered in the astragalus supplements market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the astragalus supplements market during the forecast period of 2022 to 2029 because of the increasing investment awareness regarding health and diet within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the surge in disposable income and high availability of astragalus in the region like China and Japan within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Astragalus Supplements Market Share Analysis
The astragalus supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to astragalus supplements market.
Some of the major players operating in the astragalus supplements market are
- Clasado (U.K)
- MEGMILK SNOW BRAND Co., Ltd (Japan)
- FrieslandCampina (Netherlands)
- Yakult Honsha Co., Ltd. (Japan)
- Nissin Sugar Co., Ltd. (Japan)
- Ingredion (U.S.)
- First Milk Limited (U.K)
- Kerry Group (Ireland)
- Kowa Europe GmbH. (U.K)
- VITALUS NUTRITION INC (Canada)
- Lactose India Limited (India)
- FrieslandCampina Ingredients (Netherlands)
- SAMYANG OPTICS (South Korea)
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