Introduction:
Kava root extract is a herbal supplement derived from the roots of the kava plant, which is native to the South Pacific islands. Kava root extract is known for its calming and relaxing properties and is used to reduce anxiety, stress, and insomnia. The kava root extract market is expected to witness significant growth in the coming years due to the increasing demand for natural and herbal supplements and the rising awareness about the benefits of kava root extract.
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Market Overview:
According to a report by Persistence Market Research, The Market for Kava Root Extract can be expected to expand at a value based CAGR of 5.30% and show an increase in revenue from US$ 549.04 Million to around US$ 920.20 Million by 2033. The market growth is attributed to the increasing demand for natural and herbal supplements, the rising prevalence of anxiety and stress-related disorders, and the growing popularity of traditional medicines.
Drivers and Restraints:
The kava root extract market is driven by several factors such as the increasing demand for natural and herbal supplements, the rising prevalence of anxiety and stress-related disorders, and the growing popularity of traditional medicines. Additionally, the benefits of kava root extract for reducing anxiety and stress are contributing to the market growth.
However, factors such as the potential side effects associated with kava root extract consumption and the regulatory restrictions on the use of kava root extract in some countries are expected to restrain the market growth to some extent. The market players are working towards addressing these challenges to further expand the market.
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Segmentation:
The kava root extract market can be segmented based on form, application, and region. Based on form, the market can be divided into powder, liquid, and others. The powder segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period due to its ease of use and longer shelf life.
Based on the application, the market can be categorized into dietary supplements, pharmaceuticals, cosmetics, and others. The dietary supplements segment held the largest market share in 2020, owing to the increasing demand for natural and herbal supplements and the rising awareness about the benefits of kava root extract for reducing anxiety and stress.
Regional Analysis:
Geographically, the kava root extract market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2020, owing to the high demand for natural and herbal supplements and the growing prevalence of anxiety and stress-related disorders. Asia Pacific is expected to witness significant growth during the forecast period due to the growing popularity of traditional medicines and the increasing awareness about the benefits of kava root extract.
Key Players:
Some of the key players operating in the kava root extract market include Gaia Herbs, Now Foods, Natol, LLC, Nature’s Answer, Oregon’s Wild Harvest, Kona Kava Farm, Mountain Rose Herbs, Eclectic Institute, Natural Factors Nutritional Products Ltd, Monsoon Beverages LLC, Herb Pharm, Kavafied, Pure Mountain Botanicals, Botany Evolution, LLC, Fiji Kava Australia, The Kava Roots. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their market share and strengthen their position in the market.
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The kava root extract market is expected to witness significant growth in the coming years due to the increasing demand for natural and herbal supplements and the rising awareness about the benefits of kava root extract. The market is segmented based on form, application, and region. Key players are investing in product innovation and strategic partnerships to expand their market share and strengthen their position in the market.
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