Global Ginkgo Biloba Extract Market to Rise at 4.1% CAGR Owing to Surge in Demand for Cosmetics, Food and Beverages
Pune, Maharashtra, November 12, 2019 (Wired Release) Prudour Pvt. Ltd. Market.us announces publication of its most recently generated research report titled, “ Global Ginkgo Biloba Extract Market by Form (Tablets, Capsules, Liquid Extracts, Others), By Application (Food and Beverages, Cosmetics, Pharmaceuticals), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Ginkgo Biloba Extract market through systematic segmentation that covers every aspect of the target market.
The global ginkgo biloba extract market is projected to be US$ 1,590.5 Mn in 2018 to reach US$ 2,379.2 Mn by 2028 at a CAGR of 4.1%.
Ginkgo is the common name of Ginkgo biloba and it comes under the family of Ginkgoaceae. It is the only living class in the division Ginkgophyta. Ginkgo is usually found in the native parts of Asia which includes China, Korea and Japan. It’s also been cultivated in the United States as well as in Europe. For many years, it’s been used as a source of food as well as traditional medicine. The extract of Ginkgo biloba is promoted as a dietary supplement. Ginkgo Biloba Extract is often used for disorders like Alzheimers disease, etc. Ginkgo Biloba Extract is also very beneficial to tackle disorders like depression and Lyme disease. The extract of Ginkgo biloba leaf is recognized as EGb 761. Ginkgo Biloba Extract comprises of 5-7% terpene lactones and 22-27% of flavonoid glycosides. Research has shown that EGb 761 is capable of preventing the spread of the human cancer cells.
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Increasing use of cosmetics – growing awareness about the anti-ageing products among the population is increasing demand for anti-ageing products across the globe, which is expected to boost the growth of the target market. Furthermore, ginkgo biloba treating asthma, bronchitis, central nervous system disorders, etc. this factor also expected to drive the target market growth.
Global Ginkgo Biloba Extract Market Revenue (US$ Mn), 2018–2028
However, the low availability of raw materials due to the reduction of Ginkgo biloba trees caused by over cutting of these trees. The proliferation of artificial or synthetic cosmetic products in the market is also expected to challenge the growth of the global Ginkgo biloba extract market to a certain extent. Nonetheless, emerging applications of ginkgo biloba extract for the treatment of cancer contributed to its properties such as the capability of obstructing the propagation of the human cancer cells, and Alzheimer’s disease is expected to provide lucrative opportunities for key players in the market to increase their penetration and market share.
Global ginkgo biloba extract market is segmented on the basis of form, application and region. On the basis of form, the market is segmented into tablets, capsules, liquid extracts and others. The capsules segment accounts for the majority share and is expected to register the highest growth over the forecast period, followed by the tablet segment. On the basis of application, the market is segmented into food and beverages, cosmetics, pharmaceuticals. The pharmaceuticals segment accounts for a majority share in the global ginkgo biloba extract market.
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Global Ginkgo Biloba Extract Market by Formulation, 2018
On the basis of region, the market is segmented into North America, Europe, APAC, South America and Middle East Africa. The APAC accounts for the majority share in the global ginkgo biloba extract market, owing to increasing spending on pharmaceuticals RD. APAC is expected to register the highest growth rate over the forecast period. Regions such as Europe, South America and MEA are expected to register stable growth over the forecast period.
The research report on the global ginkgo biloba extract market includes profiles of some of the major companies such as Thermo Fisher Scientific Inc., Danaher Corporation, Waters Corporation, Bruker Corporation, Shimadzu Corporation, JEOL Ltd. and Analytik Jena AG.