Market
Overview:
Garcinia is
fruit from mangosteen family that has culinary, pharmaceutical and industrial
uses. It contains hydroxycitric acid which is considered as an effective
alternative to prevent fat storage, control appetite and improve body endurance
towards exercise. Market Research Future (MRFR) has published a report stating
that the global garcinia market is marked to expand at a moderate growth rate
during the forecast period of 2018-2023.
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Key Players:
Owing to the
multiple health benefits of garcinia, the players in the global garcinia market
are focusing on the expansion of business by developing various products that
complement in leading a healthy lifestyle. Strategic mergers and acquisitions
are aiding the players in sustaining the competitive environment of the global
garcinia market. For instance, in September 2018, the manufacturers of Phandora
Garcinia has announced that its recently launched natural weight loss
supplement, Phandora Garcinia, is now officially available in South Africa as a
trial version. Phandora Garcinia is the latest natural supplement made out of
natural ingredients, aiming to aid in weight loss for leading a healthy
lifestyle.
·
Hunan Huacheng Biotech Inc.
·
Guangdong Hybribio Biotech Co.,
Ltd.
·
Hunan Nutramax Inc.
·
Nuvaria Ingredients
·
Ambe Phytoextracts Private Ltd.
·
Indfrag Limited
·
Honson Pharmatech Group Ltd.
·
Xi'an Lyphar Biotech Co., Ltd.
·
Sia Fruits Serviss
·
Zeon Health UK Ltd.
Market
Drivers and Restraints:
Sedentary
lifestyle and changing dietary habits are leading towards obesity and weight
gain. Increasing prevalence of lifestyle-induced obesity in various developed
and developing regions are inducing high demand for highly effective weight
loss alternatives that are prepared from organic components, which in turn is
fueling the growth of the global garcinia market. Increasing utilization of
dried garcinia and garcinia extracts in various cuisines owing to its distinct
flavor and rise in popularity of food products made out of tropical fruits are
some other factors that are propelling the growth of the global garcinia
market. However, lack of awareness regarding the nutritive value of garcinia
and easy availability of alternative supplements for weight loss are likely to
act as restraints on the growth of the global garcinia market during the
forecast period.
Market
Segmentation:
The Garcinia
Industry has been segmented on the basis of form and application. Based
on form, the garcinia market has been segmented into powder, liquid and others.
Among these, the powder form forecasted to dominate the global garcinia market
owing to its extensive use in manufacturing various products. Based on
application, the garcinia market has been segmented into foods & beverages,
functional foods & dietary supplements, and others. Among these, the
functional foods & dietary supplements segment is marked to dominate the
global garcinia market, owing to the high demand for garcinia in dietary
supplements. This segment is also projected to be the fastest growing segment
in the global garcinia market during the forecast period.
Regional
Analysis:
Geographically,
the global garcinia market has been segmented into Asia Pacific, North America,
Europe and the rest of the world. The Asia Pacific region is anticipated to
project dominance over the global garcinia market. The Southeast Asian
Countries and India are the major producers of garcinia as the tropical climate
promotes the growth of garcinia plantation. Hence, the Asia Pacific region is
also projecting the fastest growth in the global garcinia market. Increased
research for the development of highly effective weight management supplements
from garcinia is aiding the growth of the garcinia market in the Europe region.
The North America region is projecting noteworthy growth in the global garcinia
market owing to the high demand for natural and organic health supplements due
to increasing prevalence of obesity in this region.
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