The global codonopsis extract market is anticipated to grow at a CAGR of nearly 8.2% during the forecast period (2022-2028). Codonopsis comes under the Campanulaceae family used to treat HIV infection and to protect cancer patients against side effects of radiation treatment. The major factor expected to drive the market is the latest developments in codonopsis extract and the rising application in the medical sector, especially in the Asia Pacific. It is also used in the food industry, especially in Korean Cuisine. Moreover, it is used to treat HIV infection and protect cancer patients against side effects of radiation treatment and boost the immune system, and treat weakness, loss of appetite (anorexia), chronic diarrhea, shortness of breath, noticeable heartbeat (palpitations), asthma, cough, thirst, diabetes, and other conditions. These are some factors which propel the growth of the global codonopsis extract market during the forecast period.
Some major players in the market include Naturalin Bio-Resources Co., Ltd., and Shaanxi Jintai Biological Engineering Co., Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, GREAF, a Jaka Group Company announced that the company has signed an exclusive cooperation agreement with Yigitoglu Kimya for the Turkish market. Further, the company added that the strategy behind it is to become a global top cosmetic ingredients developer and manufacturer.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Naturalin Bio-Resources Co., Ltd., and Shaanxi Jintai Biological Engineering Co., Ltd., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
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Global Codonopsis Extract Market Report by Segment
By Type
Powder
Liquid
By Application
Food and Beverages
Pharmaceuticals
Personal Care
Others
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