Global Lovage Extract Market: Overview
Lovage is a perennial plant having leaves with basal rosette shape. The plant is most popular in Europe with the plant extract producing an exquisite aroma. With nice fragrance, the lovage extract finds myriad applications in soups as well as in flavoring agent. It has been claimed that the product was transported from European nations to other regions in the form of medicine as well as a food item. Today, its growth has been witnessed in many parts of the U.S. such as New Mexico, Colorado, New England, Great Lakes, and Wyoming.
Global Lovage Extract Market: Growth Factors
Massive customer consciousness pertaining to health benefits is anticipated to accelerate the lovage extract market trends. Additionally, the intense use of the product in the pharmaceutical sector will boost market expansion in the coming future. Health issues are largely related to dyspepsia, intestinal gas, and stomach bloating and will further leverage the lovage extract market earnings. Large-scale farming of the lovage plants in European zone will steer the growth of lovage extract market over the estimated timeline.
Today, people are facing health concerns such as asymmetrical menstrual cycles, migraine pain, sore throat, gout, and joint pain. Lovage extract offers relief from the health problems to the patients and this has made the product popular across the pharmaceutical sector. Additionally, beneficial features such as the ability to release mucus to treat respiratory ailments will further enhance the scope of the market.
Global Lovage Extract Market: Segmentation
The lovage extract market can be classified into origin, form, and application. On the basis of origin, the market is divided into shoot and root. Form wise, the market is classified into liquid, paste, and powder. Application wise, the lovage extract market is divided into spice, alternative medicine, and flavoring agent.
Global Lovage Extract Market: Regional Analysis
Based on the region, the lovage extract market can be divided into five main regions: Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. North America is predicted to dominate the overall lovage extract market, subject to a massive intake of the product as a diet component in cuisines as well as preference for herbal spice & flavors. With a large consumer base in the region, the U.S. is predicted to be the major regional revenue contributor. The European market is projected to be swiftly expanding due to a rise in the levels of customer awareness pertaining to medical advantages offered by the product. Immense product penetration across the food & beverages sector in the form of roots or salads will be the key growth driver for the market in the European zone.
The market surge in Asia Pacific zone is influenced by the large-scale awareness among the people about alternative medicine.
Global Lovage ExtractMarket: Competitive Players
Few of the major participants of lovage extract market include Botanical Specialties, Albert Vieille SAS, ActiveHerb, Aunutra Industries Inc., Kahikatea Farm, Frutarom Ltd., Flavex Naturextrakte, Biofirst, Changsha Vigorous-Tech Co., Ltd., Carrubba Inc., Bio Botanica Inc., Horner International Co., and Vege Tech Co.
Global Lovage Extract Market: Regional Segment Analysis
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