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Global Garcinia Market Overview
Garcinia Market is expected to register a CAGR of 6.50% and reach USD 134.95 Million by 2030. Garcinia is a genus of a evergreen tree mainly consumed as it helps in weight-loss and offers other health benefits. It is consumed directly as a fruit or processed into powder and liquid extracts for use as an ingredient in various products.
The Global Garcinia Market is expected to register significant growth during the forecast period. The growth of the global garcinia market is attributed to several factors. The health attributes associated with the consumption of garcinia and rising demand for natural and healthy ingredients in the production of functional food & beverages and dietary supplements are the major factors driving the global market growth. The widening application scope of garcinia in cosmeceuticals and nutraceuticals is expected to create new opportunities for the vendors active in the global market. However, the side effects related to prolonged consumption of garcinia are projected to restrict the growth of the global market.
Garcinia Market Revenue, by Application, 2030 (USD Million)
Sources: MRFR Analysis
On the basis of application, the global garcinia market has been divided into dietary supplements, functional food & beverages, and personal care. The dietary supplements segment has accounted for the major market share of 81.19% in 2021 and estimated to retain its dominance throughout the forecast period. The demand for weight loss supplements has been surging at a high pace over the last few years which in turn propels the growth of garcinia. However, the functional food & beverage segment is projected to witness the highest CAGR of 3.97% during the forecast period owing to the increasing consumer preference for functional food & beverages.
Garcinia Market Share, by Region, 2021 (%)
Sources: MRFR Analysis
Europe accounted for a major market share of the global garcinia market and projected to witness the moderate growth rate during the forecast period. The growth of the garcinia market in Europe is attributed to several factors. The high production of dietary supplements in the European countries is expected to act as a major factor driving the growth of the European garcinia market during the forecast period. The European garcinia market is projected to be valued at USD 40.78 million by the end of 2030 with registering a CAGR of 3.71% during the forecast period. North America has also held a decent market share of the global market in 2021 and projected to witness an above-average growth rate during the forecast period. The US accounted for a major market proportion of the North America garcinia market and estimated to retain its dominance throughout the forecast period. Asia-Pacific is one of the lucrative markets for garcinia manufacturers. Among the countries of the Asia-Pacific region, China is estimated to retain its dominance throughout the forecast period. China accounted for a major market share of 31.93% in 2021 and projected to witness a growth rate of 3.93% during the forecast period. However, Japan is projected to witness the highest CAGR during the forecast period.
The Prominent Players in the Global Garcinia Market include Hunan Huacheng Biotech Inc. (China), Hunan NutraMax Inc. (China), Nuvaria Ingredients (US), Ambe Phytoextracts Private Ltd (India), Indfrag Limited (India), Xi'an Lyphar Biotech Co., Ltd (China), Cymbio Pharma Private Limited (India), Xian Tonking Biotech Co., Ltd (China), BioActives Europe GmbH (Germany), and Shaanxi Bolin Biotechnology Co., Ltd (China).
The key players are taking steps toward business expansion and market development, expanding their customer base. The international players may strengthen their presence worldwide through acquisitions during the review period. The global garcinia market has a huge revenue base in major markets including North America, Europe, and Asia-Pacific, with countries such as the US, France, the UK, India, and Africa being the major contributors.
Global Garcinia Market, by Form
Global Garcinia Market, by Application
- Dietary Supplements
- Functional Food & Beverages
- Personal Care
Global Garcinia Market, by Region
- Rest of Europe
- Australia & New Zealand
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- North Africa
- Rest of the Middle East & Africa
- Garcinia manufacturers
- Food supplements manufacturers
- Dietary supplements manufacturers
- Weight loss manufacturers
- Garcinia processors
- Governments, associations, and industrial bodies
- Investors and trade experts
Garcinia Market Highlights:
Frequently Asked Questions (FAQ) :
Garcinia market is projected to grow at a 6.50% CAGR between 2022- 2030.
Europe is expected to dominate the garcinia market.
The garcinia market is predicted to touch USD 134.95 million by 2030.
Demand for healthy ingredients and health benefits of garcinia are the key factors driving the garcinia market growth.
Key players profiled in the garcinia market include Shaanxi Bolin Biotechnology Co., Ltd (China), BioActives Europe GmbH (Germany), Xian Tonking Biotech Co., Ltd (China), Cymbio Pharma Private Limited (India), Xi'an Lyphar Biotech Co., Ltd (China), Indfrag Limited (India), Ambe Phytoextracts Private Ltd (India), Nuvaria Ingredients (US), Hunan NutraMax Inc. (China), and Hunan Huacheng Biotech Inc. (China).
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