Evening Primrose Extract Market Size, Share, Growth and Industry Analysis by Type (Evening Primrose Oil (Γ- Linolenic Acid 9%), Evening Primrose Oil (Γ- Linolenic Acid 10%), And, Others), By Application (Pharmaceutical Industry, Cosmetic Industry, And, Food and Health Industry), Regional Insights, and Forecast from 2023 to 2031

Updated On: 20 November 2023

Evening Primrose Extract Market REPORT OVERVIEW

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global evening primrose extract market size was USD 210.1 Million in 2022 and market is projected to touch 319.21 Million by 2031, exhibiting a CAGR of  4.7% during the forecast period 2022-2031.

Evening primrose extract is taken and then obtained from the seeds of the evening primrose plant which is also known by its scientific name Oenothera biennis. It is rich in gamma-linolenic acid (GLA), an essential omega-6 fatty acid with potential health benefits. Due to its anti-inflammatory properties, Evening Primrose Extract is often used in skincare products to soothe dry and irritated skin conditions.

Additionally, it is believed to have potential hormonal balancing effects and is sometimes used as a natural remedy for premenstrual syndrome (PMS) symptoms and menopausal discomfort. These factors have helped in the evening primrose extract market growth.

COVID-19 Impact: Fewer Spending on Non-essential Products During Pandemic Decreased Market Share

The outbreak of COVID-19 pandemic has had a negative impact on all the markets around the world.  With the focus on health and immunity during the pandemic, there might have been an increased interest in natural remedies and supplements, including evening primrose extract.

However, disruptions in supply chains, restrictions on non-essential businesses, and changes in consumer purchasing behaviors could have impacted its availability and distribution. Additionally, the pandemic's economic impact might have affected consumer spending on non-essential products, potentially leading to fluctuations in demand for evening primrose extract-based skincare and wellness products. These factors negatively impacted the market growth during COVID.

LATEST TRENDS

"Exploration of New Extraction Methods to Boost Market Growth"

Innovative trends in the market have emerged, driven by ongoing research and increasing interest in natural health and wellness. Scientists are exploring new extraction methods to optimize the yield of beneficial compounds, such as gamma-linolenic acid (GLA), to enhance its therapeutic potential. Formulators are incorporating Evening primrose extract into a wide range of products, including advanced skincare formulations, dietary supplements, and functional foods, expanding its applications beyond traditional uses. Furthermore, personalized health approaches have led to customized formulations tailored to specific health needs, providing consumers with more targeted and effective solutions. All of these are considered as the latest trends in the market.

Evening Primrose Extract Market SEGMENTATION

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• By Type:

The market can be divided on the basis of types into the following segments:

Evening primrose oil (γ- linolenic acid 9%), evening primrose oil (γ- linolenic acid 10%), and, others. The evening primrose oil (γ- linolenic acid 9%), segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Pharmaceutical industry, cosmetic industry, and, food and health industry. The pharmaceutical industry segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Important Role of this Extract in Hormonal Regulation to Amplify Market Growth"

The driving factors behind the increasing demand for this extract are primarily attributed to its potential health benefits and diverse applications. Firstly, its rich source of gamma-linolenic acid (GLA) makes it sought after for promoting skin health and managing inflammatory skin conditions.

Secondly, its reputed role in hormone regulation has led to its use as a natural remedy for premenstrual syndrome (PMS) and menopausal symptoms, appealing to women's health needs. Additionally, the growing interest in natural and plant-based remedies has spurred the popularity of evening primrose extract as consumers seek alternatives to synthetic pharmaceuticals. Its versatility in skincare, supplements, and functional foods further fuels its market growth. These factors are immensely contributing towards the development of the market.

"Safety of Primrose Extract in Topical and Oral Use to Fuel Market Growth"

Apart from its potential health benefits and diverse applications, other driving factors for the popularity of evening primrose extract include its safety profile and ease of incorporation into various products. The extract is generally considered safe for topical and oral use, making it appealing to consumers seeking natural remedies with fewer side effects.

Moreover, the rise of e-commerce and online platforms has facilitated easy access to Evening Primrose Extract-based products, expanding its market reach globally. Additionally, the increasing focus on sustainability and eco-friendly practices has led consumers to prefer natural ingredients like evening primrose extract, further driving its demand in the health and wellness industry. The above-mentioned factors propel evening primrose extract market share.

RESTRAINING FACTOR

"Higher Cost of This Extract Compared to Synthetic Alternatives to Bring Down Market Share"

While this extract shows promise in skincare and hormone regulation, more comprehensive clinical studies are needed to establish its efficacy and safety for specific conditions. Additionally, its availability may be affected by variations in climate and growing conditions, leading to fluctuations in supply.

The extract's relatively higher cost compared to synthetic alternatives can also impact widespread adoption. Regulatory challenges and varying quality standards in the herbal supplement industry may raise concerns among consumers. These are the restraining factor hindering the market development.

Evening Primrose Extract Market Regional Insights

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"North America to Dominate Market During Forecast Period"

The leading region for primrose extract production and utilization is North America. This is primarily due to the extensive cultivation of the Evening Primrose plant in the United States and Canada. The region's well-established herbal supplement industry and the increasing trend towards natural health and wellness products have driven the demand for Evening Primrose Extract.

Additionally, the presence of advanced research and development facilities and a robust regulatory framework ensures quality and safety standards are met. Furthermore, North America's strong market presence for skincare and dietary supplements further contributes to the prominence of Evening Primrose Extract in this region.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Henry Lamotte (Germany)
• Connoils (U.S.)
• Omeganz (India)
• Baxco (U.S.)
• Plimon Group (U.S.)
• Efamol (United Kingdom)
• Sanmark (Finland)
• Jilin Shengji (China)
• Jilin Baili (China)
• Liaoning Jiashi (China)
• Hebei Xinqidian (China)
• Jilin Shangjia (China)
• Dalian Tianshan (China)
• Yuanhua Biotechnology (China)
• Pioneer Herb (China)
• Panjin Green Bio-tec (China)
• Shenzhen Kangerjian (China)
• Shanghai Yanxintang (China)
• Honsea (China)
• Panjin Tianyuan Pharmaceutical (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.