Food Pharmaceutical Peony Market Size, Share, Growth, and Industry Analysis by Type (Paeonia Ostii and Paeonia Rockii), By Application (Food and Pharmaceutical) Regional Forecast to 2028

REPORT OVERVIEW

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The global food pharmaceutical peony market size was USD 78 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the food pharmaceutical peony experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 181.4 million by 2028, exhibiting a CAGR of 12.8% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Food pharmaceutical peony is a form of peony that has remained kept for its edible and therapeutic properties. It is high in antioxidants and has been displayed to have anti-inflammatory and cancer-fighting properties. It has many probable health benefits, including decreasing irritation, improving immune system function, treating nervousness and despair, and improving circulation. These features are expected to drive the food pharmaceutical peony market growth in coming years.

COVID-19 Impact: Pandemic Restrictions Downsized Market Demand

The global corona-virus outbreak, also known as COVID-19, extended across several industries. Despite the urgency, the number of patient visits to hospitals has dramatically decreased during the previous few months. These activities had a significant impact on the economy since manufacturers all around the world were compelled to halt output, which disrupted the supply chain and hurt a number of different businesses.

LATEST TRENDS

"Health Benefits to Inflate Market Demand"

The progress in the market can be credited to the growing demand for food and pharmaceutical goods that are derivative from peonies. The growing cognizance about the health profits related with consuming these products is also backing to the development of this market. The global food pharmaceutical peony market can be segregated on the basis of type, application, and region. On the basis of type, Paeonia Ostii dominates the global food pharmaceutical peony market followed by Paeonia Rockii. On account of their high therapeutic value and beneficial properties, both these types are widely used in numerous uses such as foods and pharmaceuticals across diverse regions globally.

SEGMENTATION

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• By Type

Based on type; the market is divided into Paeonia Ostii and Paeonia Rockii.

• By Application

Based on the application; the market is divided into Food and Pharmaceutical.

DRIVING FACTORS

"Increasing Demand from Pharmaceutical Sector to Advance Market Share"

Peonies are not only decorative flowers, but they also have countless remedial properties. Some types of peonies are used in old-style Chinese medication, particularly Paeonia lactiflora. A decoction of its source is used to treat aching or inflammatory conditions for thousands of years. Phytochemical readings indicate that peonies comprise several valuable secondary metabolites, such as monoterpene glycosides and phenols. The consequences of pharmacological investigation propose that peonies have a varied range of actions such as anti-inflammatory, antioxidant, anti-tumor, antidiabetic, cardiovascular, hepatoprotective and neuroprotective effects.

"Awareness About PCOS Treatment to Drive Market Growth"

The peony roots are being used to treat fungal infections, injuries, and discomforts of the body. It is a medical constituent used in the cure of many infections like hepatitis, jaundice, liver problem and many more. The roots of the plant have been used for several years in medical systems like unani, Ayurveda, and homeopathy. It is also used to treat health complications like menstrual cramps, hormonal disorder that cause PCOS. Consuming peony could make the menstrual cycle more regular, improve quality of life, and reduce body weight.

RESTRAINING FACTORS

"Risk Associated with the Treatment to Restrain the Market"

The plant is dangerous for women in the period of pregnancy and breastfeeding. It is harmless for children up to 12 months. It reduces blood clotting, there is distress that it might upsurge the hazard of bleeding in people with bleeding disorders.

REGIONAL INSIGHTS

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"Presence of Prominent Players to Foster Growth in Asia Pacific"

Asia Pacific is anticipated to have the largest food pharmaceutical peony market share over the course of the projected period. Countries such as China and Japan are creating major profits. Moreover, increasing demand for organic products is likely to expand the market share in coming years.

North America is anticipated to have a sizable market share. Robust demand from the U.S for food pharmaceutical peony is projected to play a vibrant role in growing the income share of the region. In terms of profits in Japan, it is estimated to be the second prominent funder in the food pharmaceutical peony market. North America is projected to enlarge at moderately advanced CAGR due to the growing obesity rates and health awareness amongst customers.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Peony Love (U.S.)
• Ruipu Mudan (U.K.)
• Henan Xiangyue (China)
• Klorane (New Jersey)
• Marin Bauer Group (Germany)
• Naturex (France)
• Aunutra (U.S.)
• Pioneer Herb (U.S.)
• Nutra Green (China)
• Novoherb (China)

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.