Andrographis Extract Market Size, Share, Growth, and Industry Analysis, By Type (Andrographolide 10%, Andrographolide 20%, Andrographolide 30%, Andrographolide 50%, And Andrographolide 98%), By Application (Food Industry, Healthy Food, and Pharmaceutical), and Regional Forecast From 2024 To 2031

Updated On: 22 April 2024

Andrographis Extract Market Report Overview

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The global andrographis extract market size was USD 128 million in 2022. As per our research, the market is expected to reach USD 305 million by 2031, exhibiting a CAGR of 10.0% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the andrographis extract market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.

This extract is derived from the andrographis paniculata plant, also known as the king of bitters. The extract contains the bioactive compound andrographolide, which is known for its medicinal properties. This extract is widely used in the food industry, pharmaceuticals, and healthy food products due to its potential health benefits. It is commonly used in traditional medicine for its immune-boosting and anti-inflammatory properties.

The market is growing due to increasing consumer awareness of its health benefits. The rising demand for natural and herbal products is also contributing to the market growth. Moreover, ongoing research and studies on the potential applications of andrographis extract in various industries are driving its demand further.

COVID-19 Impact: Surge in Demand Due to Increased Focus on Health and Wellness

The COVID-19 pandemic had a significant impact on various industries, and the andrographis extract market was no exception. During the pandemic, there was an increased focus on health and wellness, leading consumers to seek natural remedies to boost their immune systems. As a result, demand for the product saw a surge, particularly in the pharmaceutical and healthy food sectors. The pandemic acted as a catalyst for the market's growth as consumers became more health-conscious and sought natural alternatives.

Latest Trends

"Discovery of Antiviral Properties to Combat Respiratory Infections"

The discovery of the antiviral properties of andrographis extract and its effectiveness in combating respiratory infections has ignited significant interest in the market. This breakthrough finding has opened new avenues for the utilization of this extract in various industries, particularly pharmaceuticals and health products. As consumers worldwide seek natural remedies to boost their immune systems, demand for the product has soared.

Moreover, ongoing research and development activities focusing on this natural compound have unveiled its potential applications in functional foods and beverages. Manufacturers are actively incorporating this extract into energy drinks, juices, and snacks to cater to the growing demand for health-enhancing products. As a result, the market is expected to witness substantial growth in the coming years, driven by its newfound antiviral properties and health benefits.

Andrographis Extract Market Segmentation

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•  By Type Analysis

According to type, the market can be segmented into andrographolide 10%, andrographolide 20%, andrographolide 30%, andrographolide 50%, and andrographolide 98%.

Among these, andrographolide 10% and 20% are the most commonly used types in various industries.

• By Application Analysis

Based on application, the market can be divided into the food industry, healthy food, and pharmaceutical sectors.

The pharmaceutical industry holds the dominating segment, as this extract is extensively used in traditional medicine and natural remedies.

Driving Factors

"Growing Demand for Herbal Products Fuels Market Growth"

The market is experiencing robust growth due to the growing demand for natural and herbal products. Consumers are increasingly drawn to these products because of their perceived health benefits and preference for safer, plant-based remedies. As a natural remedy with immune-boosting properties, this extract has garnered significant popularity among health-conscious consumers seeking effective ways to support their well-being.

"Rising Interest in Traditional Medicine Creates Product Demand"

The rising interest in traditional medicine practices worldwide has led to a surge in demand for the product. This natural compound plays a crucial role in various traditional remedies, making it a sought-after ingredient in the field of natural healing. As more people explore and embrace traditional medicinal practices, the market continues to experience steady growth.

Restraining Factors

"Limited Awareness in Some Regions Poses Challenges to Market Growth"

Limited awareness in certain regions poses a challenge to the market's growth potential, despite the increasing popularity of natural remedies. While the demand for natural and herbal products is on the rise globally, some regions still lack awareness about the benefits and applications of this extract. This lack of awareness hinders the widespread adoption of the product in these areas, limiting its market reach. To fully capitalize on the potential of andrographis extract, targeted marketing efforts and educational campaigns are essential in these regions. Increased awareness and understanding of the extract's health benefits could unlock new opportunities for growth and expansion in untapped markets.

Andrographis Extract Market Regional Insights

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"Asia-Pacific Leads Due to Its Rich Heritage of Traditional Medicine Practices"

Asia-Pacific emerges as the leading region in the global market, bolstered by China's significant role as a major producer and consumer of this herbal extract. The region's rich heritage of traditional medicine practices and a growing preference for natural ingredients have catapulted andrographis extract to a dominant position in the market. Moreover, Asia-Pacific's increasing awareness of the extract's potential health benefits further fuels its demand across various industries.

In close pursuit, North America exhibits strong market potential, driven by the surging popularity of herbal supplements and natural remedies. The region's health-conscious population seeks effective and safe alternatives, positioning this extract as a sought-after ingredient in the pharmaceutical, food, and health product sectors. As both regions continue to foster an environment conducive to the growth of natural remedies, the global market promises lucrative opportunities for expansion and diversification.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Martin Bauer Group (Germany)
• Sabinsa (India)
• Bioprex (India)
• Gurjar Phytochem (India)
• Mother Herbs (India)
• Pure & Green (India)
• Guilin Layn Natural Ingredients (China)
• Changzhou Natural Pharmaceutical (China)
• Shaanxi Huike Botanical Development (China)
• Hunan Zhengdi Biological (China)
• Sichuan Hongyi (China)
• Xi’an Changyue Phytochemistry (China)
• Sichuan Zhonghong (China)
• Guilin Sanling Biotech (China)
• Shaanxi Tianrun (China)
• Changsha LuYuan Bio-Tech (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.