Chickweed Market: Introduction:
Chickweed is an annual weed which is native mostly to Europe and few parts of North America. The chickweed plant (Stellaria media) prefers to grow in low-temperature season. The plant is consumed in whole as a leafy vegetable and also used in animal feeds mainly in poultry sector from which it has gained its name.
The newer application involves supplements, oil, tea, and extracts which are anticipated to fuel the growth of the chickweed market over the forecast period. Chickweed contains herbal flavonoids and important elements which helps the human body to reduce effects of a number of ailments and lose weight.
The chickweed oil is used largely in skincare products to gain a cooling effect and improves the condition of the damaged regions. The chickweed tea is one of the most trending products which is consumed for its soothing effect and weight loss effect.
The chickweed market is expected to be dominated by Europe owing to its traditional market and presence of large consumer base for natural medicine and supplements. The chickweed tea segment is anticipated to dominate the global chickweed market over the forecast period.
Chickweed Market: Segmentation:
The chickweed market is segmented on the basis of origin, product type, application, and sales channel.
Segmentation on the basis of origin in chickweed market is organic and conventional. The organic segment is expected to dominate the chickweed market over the forecast period resulted by the growing demand of organic options in traditional herbs and nutraceuticals. The conventional segment is expected to capture a significant share over the volume share owing to the fact a large part is still grown in a non-organic way.
On the basis of product type, the chickweed market is segmented into the tincture, tea, oil, salve, and others. The salve segment is expected to dominate the global chickweed market attributed to chickweed salve being the first commercial product which is under use for a quite long time as a skincare product. The tea segment is anticipated to witness high CAGR over the forecast period due to growing herbal tea market in Europe and North America.
On the basis of application, the chickweed market is segmented into the beverage, pharmaceutical, cosmetics and personal care, dietary supplement and animal feed. Personal care and cosmetics segment are expected to dominate the global chickweed market resulted by its traditional use in herbal skin care products. The beverage segment to see a substantial growth rate owing to its growing tea segment over the forecast period.
On the basis of sales channel, the chickweed market is segmented into direct and indirect. The indirect is further sub-segmented into modern store formats, traditional store formats, and e-commerce. The indirect segment is anticipated to dominate the global chickweed market over the forecast period owing to the large consumer based product offerings of chickweed. The e-commerce segment is anticipated to see a healthy growth rate over the forecast period owing large millennial consumer using internet of things to access natural base products in both developed and developing regions.
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Chickweed Market: Region-wise Outlook:
Europe is expected to dominate the global chickweed market over the forecast period owing to chickweed being a traditional remedy in the region, a large consumer base is already aware of the product and its offering.
North America is expected to follow Europe resulted in the rapidly growing natural supplement market in the region and other traditional remedial markets. The Asia Pacific region is expected to see substantial growth rate owing to rapid growing urban population and e-commerce penetration making it easy to access such products.
Chickweed Market: Drivers and Restraints:
The chickweed market is expected to be driven by the the global trend for increased usage of natural alternative over synthetic remedial source in OTC pharmaceutical and dietary supplement sector. The increasing application fueled by new scientific studies and techniques is expected to boost the growth of the chickweed market over the forecast period.
Chickweed Market: Key Players:
The global player for the chickweed market are Buddha Teas, Etsy, Inc., Bay Berry Bliss LLC., Wild Carrot Herbals, Chagrin Valley Soap & Salve Co., and LocalHarvest, Inc.
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