Luo Han Guo Extract Market Size, Share, Growth, and Industry Analysis, By Type (30%-50% Mogroside-V and Above 50% Mogroside-V), By Application (Food and Beverage, Medicines and Health Products and Others) and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

LUO HAN GUO EXTRACT MARKET REPORT OVERVIEW

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The global luo han guo extract market size was USD 110.3 million in 2020 and will touch USD 471.2 million by 2027, exhibiting a CAGR of 22.8% during the forecast period.

The Luo Han Guo Extract market has experienced significant transformations in recent years, influenced by various factors such as changing consumer preferences and the global push towards healthier lifestyles. The outbreak of the COVID-19 pandemic has added a layer of complexity, exposing vulnerabilities in the supply chain and altering consumer behaviors. The pandemic underscored the importance of health and wellness, prompting a surge in demand for natural sweeteners like Luo Han Guo Extract. Consumers, now more than ever, are seeking alternatives to traditional sugars, and the extract, known for its natural origin and low-calorie profile, has become a preferred choice. This shift aligns with a broader trend in the food and beverage industry towards clean-label products and natural ingredients.

Driving the growth of the market are factors such as the increasing health consciousness among consumers and the extract's expanding applications in the food and beverage sector. The growing awareness of the adverse effects of excessive sugar consumption has led to a paradigm shift, with consumers actively seeking healthier alternatives. Luo Han Guo Extract, derived from the Siraitia grosvenorii fruit, has gained popularity not only as a natural sweetener but also for its traditional use in Chinese medicine. The versatility of the extract in various culinary applications, including beverages and desserts, has expanded its market presence. However, challenges arise from the limited geographical cultivation of the Siraitia grosvenorii plant, primarily found in specific regions like Southern China and Northern Thailand. This limitation in production capacity poses a potential constraint on the scalability of Luo Han Guo Extract, emphasizing the need for sustainable cultivation practices and innovative extraction technologies.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on the luo han guo extract market share. prompting a reevaluation of supply chains and consumer preferences. Lockdowns, travel restrictions, and disruptions in global trade have affected the production and distribution of it. The closure of international borders has led to logistical challenges in sourcing raw materials and transporting finished products. Although, the economic uncertainties during the pandemic have influenced consumer behavior, pushing them towards products perceived as healthier and immune-boosting.

LATEST TRENDS

"Surge in Consumer Interest in Natural and Plant-Based Sweeteners to Drive Market Growth"

In recent years, a prominent trend in the market is the surge in consumer interest in natural and plant-based sweeteners. This trend aligns with the broader movement towards healthier lifestyles, where individuals seek alternatives to traditional sugars. Ones, derived from the Siraitia grosvenorii fruit, has gained popularity due to its natural sweetness, low-calorie content, and the absence of adverse effects on blood sugar levels. As consumers increasingly prioritize clean-label products, the demand for it has experienced a notable upswing.

LUO HAN GUO EXTRACT MARKET  SEGMENTATION

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• By Type

Based on type the global market can be categorized into 30%-50% Mogroside-V and Above 50% Mogroside-V

The 30%-50% Mogroside-V segment captures a significant portion of the market, offering a balance between sweetness and cost-effectiveness. This type is often favored in food and beverage applications where a moderate level of sweetness is desired. On the other hand, the Above 50% Mogroside-V segment targets a more discerning market seeking a higher concentration of mogrosides. This premium variant is valued for its potent sweetness, making it a preferred choice in medicinal and health product formulations where precise dosage and enhanced sweetness are crucial.

• By Application

Based on application the global market can be categorized into Food and Beverage, Medicines and Health Products and Others.

The Food and Beverage segment represents a substantial portion of the market, showcasing the extract's versatility in enhancing the flavor profile of a wide array of products. From beverages to desserts, the 30%-50% and Above 50% Mogroside-V variants find applications in creating healthier alternatives to traditional sugar-laden products. The Medicines and Health Products segment highlights the medicinal properties of it, particularly its historical use in traditional Chinese medicine. The extract's potential health benefits, combined with its natural sweetness, make it a sought-after ingredient in pharmaceutical and nutraceutical formulations.

DRIVING FACTORS

"Growing Health Consciousness to Boost the Market"

The global emphasis on health and wellness has propelled the demand for natural sweeteners like it. Consumers are becoming more health-conscious, actively seeking alternatives to refined sugars linked to various health issues such as obesity and diabetes. Ones, with its natural origin and low-calorie profile, has positioned itself as a desirable option for health-aware consumers.

"Expanding Applications in Food and Beverage Industry to Expand the Market"

It's versatility in various food and beverage applications has been a key driver for market growth. It is utilized as a sweetening agent in beverages, desserts, and a wide range of products, offering manufacturers a natural and healthy substitute for traditional sugars. This adaptability has contributed significantly to the increasing market penetration.

RESTRAINING FACTORS

"Limited Geographical Cultivation to Potentially Impede Market Growth"

A notable restraining factor for the market is the limited geographical cultivation of the Siraitia grosvenorii plant. This perennial vine is primarily found in specific regions, including Southern China and Northern Thailand, due to specific climate and soil requirements. The concentration of cultivation in these areas poses a challenge to the consistent and large-scale supply of it, potentially impacting market stability and pricing.

LUO HAN GUO EXTRACT MARKET REGIONAL INSIGHTS

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"Asia Pacific Region Dominating the Market due to Natural Habitat of the Siraitia Grosvenorii Plant in the Region"

Asia Pacific is expected to be the highest luo han guo extract market growth. This can be attributed to the natural habitat of the Siraitia grosvenorii plant, which is indigenous to Southern China and Northern Thailand. The favorable climate and soil conditions in these regions make them ideal for cultivation. Additionally, the cultural significance of Luo Han Guo in traditional Chinese medicine and its widespread use in Asian cuisine contribute to the high demand in the Asia-Pacific region.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The Luo han guo extract market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Monk Fruit Corp (U.S)
• Layn (China)
• Hunan Huacheng Biotech (China)
• GLG Life Tech (Canada)
• Guilin Sanleng Biotech (China)
• Guilin Saraya Biotech (China)
• Hunan Nutramax (China)

INDUSTRIAL DEVELOPMENT

January 2023: The latest industrial development in the market is the supercritical fluid extraction (SFE) and membrane separation techniques. Researchers and manufacturers are intensively exploring and refining these methods to achieve several key objectives. Supercritical fluid extraction (SFE) utilizes supercritical carbon dioxide as a solvent under specific temperature and pressure conditions. This method offers distinct advantages, including higher extraction efficiency, minimal solvent residue, and better preservation of heat-sensitive compounds. By employing SFE, researchers aim to enhance the extraction efficiency of mogrosides from Luo Han Guo, resulting in a purer and more concentrated extract.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.