The Western European region, with its high expenditure on herbal medicine research is expected to drive the pygeum bark extract market. The North American region has registered an ever increasing demand and acceptance in herbal products which is expected to further grow, contributing to a major factor for Pygeum Bark Extract market growth in the region. The Asia pacific region is also expected to see a steady increase in the market growth due to a large population’s belief in traditional remedies.
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Pygeum bark extract is extracted from Pygeum africanum an African cherry tree, which is an evergreen tree found at higher altitudes across Africa. This tree is known to be used in historic times dating back to the 1700s. Tribes in southern Africa region used the bark to treat bladder discomfort. The pygeum bark extract has been used in European region to treat benign prostatic hyperplasia since the 1960, and is currently the most commonly used treatment for this condition in France. Numerous researches have been carried out and various properties and active constituents have been mapped for herbal medicinal purposes. Pygeum bark is known to contain various beneficial constituents, including phytosterols such as beta-sitosterols, which exhibit anti-inflammatory action by inhibiting the production of prostaglandins in the prostate.
Pygeum bark extract market is segmented into form and distribution channel. Pygeum bark extract is available in almost every dosage form including capsules and tablets, hence this herbal medicine is expected to account for a significant growth in the market during the forecast period. Originally available in powder form, increasing with a steady growth rate and yield a larger portion in terms of volume attributed to the diversity in use and ease of handling. The benefits of pygeum bark extract has created a costumer side demand and hence formulations of different kind have been developed and the shift in consumer trust towards herbal medicines is expected to drive the pygeum bark extract market during the forecast period. Pygeum bark extract market by distribution channel is segmented into direct sales and indirect sales channel. Indirect sales channel for pygeum bark extract is further segmented into hypermarket/supermarket, pharmacy & drugstores, and online retail.
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The pygeum bark extract market in Japan is also expected to represent an upsurge in the market growth in the forecast period. China being the largest exporter of herbal medicines followed by India. There is an increasing demand of herbal products throughout the globe with the major exports accounting to the following regions; North America, Latin America, Europe, CIS & Russia, Middle East & Africa, Asia Pacific excluding Japan and Japan. In regional segments North America accounts for a significantly higher share whereas rise in pygeum bark extract market demand originating from developing countries, Asia Pacific regions are expected to grow to a considerable fraction during the forecast period.
Pygeum bark extract offer an alternative to pharmaceutical medicines which could have higher side effects. Thus the wellbeing concerns among health conscious consumers is expected to drive the pygeum bark extract market during the forecast period. The trends in use of traditional or herbal medicines is different for different regions, for example manufacturers do not need to register their products with FDA in US or get an approval, these are sold as dietary supplements. For this reason a large number of herbal products are flooding the American market and gaining high acceptance among masses. The increased focus in innovation in herbal products in Western Europe is generating supply side demand and countries like Germany and France are spending high amounts on research of pygeum bark.
Pygeum bark extract does not have a great product recall but is gaining acceptance at a growing rate and some of the key players participating in the global tomato extract market includes; Nutraceutical International Corporation, Nutra Green Biotechnology Co., Ltd., Xi'an Natural Field Bio-Technology Co.,Ltd., Nature's Way Products, LLC., among other.
Pygeum bark extract report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The pygeum bark extract also maps the qualitative impact of various market factors on market segments and regions.
Our analysis will follow a modeling-based approach and triangulation methodology to estimate data covered in this pygeum bark extract market. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market size.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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