Forskolin Market to be Worth $966.22 Million by 2030: Grand View Research, Inc.

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05 Apr, 2022, 13:30 GMT

SAN FRANCISCO, April 5, 2022 /PRNewswire/ -- The global forskolin market size is expected to reach USD 966.22 million by 2030, registering a CAGR of 8.7% over the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand from the pharmaceutical industry owing to its high medical value. The market is expected to grow because of end-users' inclination from synthetically processed to naturally-derived ingredients. Forskolin has a wide range of application scope across various industries, such as food & beverages, pharmaceuticals, and cosmetics among others. It has been used as a traditional medicine in the field of 'Ayurveda' since ancient times, for the treatment of heart, abdominal, and respiratory diseases, among others.

Key Insights & Findings from the report:

The low purity segment is estimated to register the fastest CAGR from 2022 to 2030 owing to the wide application scope of the low-purity product in various dietary supplements, which have a higher demand globally.
The pharmaceutical application segment is projected to account for the fastest CAGR from 2022 to 2030 due to a rise in the global consumption of pharma and healthcare products.
Asia Pacific is projected to be the fastest-growing regional market during the forecast period due to the constantly growing demand and easy product availability in this region.
Moreover, key market players are based in APAC and are constantly working to provide a diverse range of products through high investments in their R&D. A rise in demand for clean and herbal commodities especially in the cosmetic industry has paved the way for forskolin to be used in many end-use sectors.
Due to the rapid technological advancements, many companies are focusing on developing forskolin sustainably with high-speed innovations in synthetic biology.
The production from various other raw materials, which on testing, could prove to be more advantageous to the human body, are being conducted effectively.
The prominent players in the market are more focused on the production technologies to gain maximum profit against minimum resource consumption.

Read 100-page market research report, "Forskolin Market Size, Share & Trends Analysis Report By Purity (Low, Medium, High), By Application (Food & Beverages, Cosmetics, Pharmaceuticals), By Region (Europe, Asia Pacific), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Forskolin Market Growth & Trends

Forskolin comes from the roots and stem of a plant named Coleus barbatus. This plant is from the mint family and can be found in some regions of Asia. Constant research and development activities carried out by major market players have proved its wide usability along with its advantages. During the COVID-19 pandemic, the pharmaceuticals and healthcare industries gained importance, thereafter, the demand for these products eventually increased. The increasing awareness among the growing population will also support the growth of this market. Materials with immense usage in the production of healthcare and medicinal products witness high demand in the market.

Forskolin Market Segmentation

Grand View Research has segmented the global forskolin market on the basis of purity, application, and region:

Forskolin Purity Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

Low (10-50%)
Medium (50-95%)
High (> 95%)

Forskolin Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

Food and Beverages
Cosmetics
Pharmaceuticals
Dietary Supplements
Others

Forskolin Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

List of Key Players of Forskolin Market

Alchem International Ltd.
Nutra Green Biotechnology
Shaanxi Jiahe Phytochem
Glentham Life Sciences
Flavour Trove
Cymbio Pharma Pvt. Ltd.
Alpspure Lifesciences Pvt. Ltd.
Bioprex Labs

Check out more related studies published by Grand View Research:

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Breath Analyzers Market - The global breath analyzers market size is expected to reach USD 11.3 billion by 2024, according to Grand View Research, Inc. The market is anticipated to expand at a CAGR of 28.8% during the forecast period. Growing demand for breath analyzers from law enforcement agencies and other institutions such as schools, sports, and offices to minimize alcohol abuse is a major market driver.
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Browse through Grand View Research's Food Additives & Nutricosmetics Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.
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