Artichoke Extract Market Size, Share & Growth Report 2032

Artichoke Extract Market Insights

According to the report published by Zion Market Research, the global Artichoke Extract Market size was valued at USD 4.03 Billion in 2023 and is predicted to reach USD 90.27 Billion by the end of 2032. The market is expected to grow with a CAGR of 41.3% during the forecast period. The report analyzes the global Artichoke Extract Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Artichoke Extract industry.

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Global Artichoke Extract Market: Overview

Artichoke is a perennial flowering plant. Artichoke extract is mainly available in the powder form and is obtained from the leaves of the plant. The artichoke extract is a rich source of antioxidants and flavonoids thus providing immense health benefits. Artichoke extract has substances such as cynarine and chlorogenic acid which are the bile driving substances that benefits in the liver protection. The major industry that is benefitting from the artichoke extract is the food and beverage.

Global Artichoke Extract Market: Segmentation

The global market for the artichoke extract market is fragmented into the application, product form, and the distribution channels. Based on the application, the global market is segregated into food and beverages, personal care, dietary supplements, and the cosmetic industry. The dietary supplements segment holds the largest market share and it is expected to dominate the market in the coming years. Based on the product form, the market is categorized into liquid form and powder form. The powder form dominates the product form segment. Based on the distribution channel, the market is divided into indirect and direct sales. The segment for the indirect sales is sub-divided into trader, wholesaler, and retailer. In the retail segment, online sales are majorly contributing to the market share.

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Global Artichoke Extract Market: Growth Factors

The major factor that is driving the artichoke extract market is the growth in the awareness levels among the consumers about the health benefits that are provided by the artichoke extract which includes the protection of the liver by generating bile juices, blood pressure, diabetes, and others. The artichoke extract has a huge presence of the antioxidants and flavonoids thus it is in huge demand in the beverage industry for the usage of the herbal tea. The market will experience a significant growth in the coming years as the market for the plant extracts is increasing as the consumers highly prefer natural products in their regular diet. The factor that will limit the growth of the artichoke market is the availability of the other extracts of the plant that have the same therapeutic properties hampers the market growth.

Artichoke Extract Market: Report Scope

Global Artichoke Extract Market: Regional Analysis

According to the regional study, the global market for the artichoke extract is diversified into North America, Western Europe, the Middle East and Africa Eastern Europe, Asia Pacific, and Latin America. The region that is currently dominating the artichoke extract market is Europe. The region that is following Europe is North America. The factors that will contribute to the market growth in these regions in the coming years include the increasing consumption of the artichoke extract by the consumers and the increase in the awareness about the health benefits that are offered by the artichoke extract will contribute to the market growth.

Global Artichoke Extract Market: Competitive Players

The key market players that are involved in the artichoke extract market include;

• Nutra Green Biotechnology Co. Ltd.
• Gaia Herbs, Inc.
• Jiaherb, Inc.
• Hawaii Pharm LLC
• Nature's Way Products, LLC.

The global artichoke extract market is segmented as follows;

By Application Segment Analysis

• Food and Beverages
• Personal Care
• Dietary Supplements
• Cosmetic Industry

By Product Form Segment Analysis

• Liquid Form
• Powder Form

By Distribution Channel Segment Analysis

• Indirect Sales
• Direct Sales

By Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.