Purslane Extract Market Size, Share, Growth, and Industry Analysis, By Type (50ML and 250ML), By Application (Facial Mask, Toner and Toiletries) Forecast From 2024 To 2031

Updated On: 22 April 2024

Purslane Extract Market Report Overview

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The global purslane extract market size was USD 7013 million in 2022, as per our research, the market is projected to touch USD 38734 million by 2031, exhibiting a CAGR of 23.2% during the forecast period. 

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

Purslane extract is an extract of the purslane plant, a succulent that grows as a weed. It has high levels of omega-3 fatty acids, especially alpha-linolenic acid, which can benefit heart health, immune system, and growth and development. It also contains vitamins, minerals, flavonoids, and proteins that have anti-inflammatory, antioxidant, anti-aging, and hydrating effects on the skin and the body. It may improve glucose control, blood pressure, and lipid profile in people with type 2 diabetes. It is used in traditional medicine and in many cosmetic products.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 problem has had an impact on the global economy, causing a strict lockdown and a halt to day-to-day activities in every industry. With the limits imposed by the government, the panic scenario has had a negative influence on the industries. This has resulted in a market drop as well; there was a direct and indirect impact from numerous sectors producing purslane extract. With the revival of the market following COVID-19, we are seeing a recovery of the market where the blanks are restructured with product innovation and investments into R&D activities to develop advanced technologies to meet advanced requirements, which will project a proposed increase in the Purslane Extract market share in the forecasted period.

LATEST TRENDS

"Increasing use in the Skincare Industry due to its Unique Properties:"

The discovery of purslane extract carrying high antioxidant and anti-inflammatory properties is resulting in its increasing use in skincare industry. Many brands are incorporating purslane extract in their products, creating a rising trend in the market as well as the main source of purslane extract’s market growth which has been forecasted. Purslane extract is quite a buzzword in beauty circles. 

Purslane Extract Market Segmentation

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• By type

Based on type Purslane Extract market is classified as 50ML and 250ML.

• By application

Based on application Purslane Extract market is classified as Facial Masks, Toner and Toiletries.

DRIVING FACTORS

"Growing Awareness of Natural Ingredients in Skincare Increasing the  Demand for Purslane Extract in Products"

Growing awareness of natural ingredients in skincare such as purslane extract which is known for it’s high antioxidant properties, which can help protect the skin from damage, anti-inflammatory properties that can soothe skin irritation and are rich in vitamins A, C and E, which are beneficial for skin health, driving consumers to seek out for products with these ingredients.

"Scientific Research Revealing the Benefits of Purslane Extract"

 We are seeing a rapid advancements in scientific technology and scientific research revealing the benefits of purslane extract, such as high antioxidant and anti-inflammatory properties. In result of which skincare brands are increasingly incorporating purslane extract into their products, driving demand in the market.

RESTRAINNG FACTORS

"High Cost of Extraction and Production of Purslane Extract"

 Extracting the purslane extract from purslane plant is a very difficult process. The complex process and resources that are needed to obtain the extract in a useable form leads to it’s being higher priced end products, which is limiting the market to consumers willing to pay a premium price for skincare.

Purslane Extract Market Regional Insights

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"North-America region to expand and Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

The global Purslane Extract market is classified into North-America, Europe, Asia pacific, South-America and Middle east and Africa where the market for puslane extracts in North America is projected to witness the highest growth rate during the review period. The region is one of the major importers of various types of plant extracts due to the continued acceptance of exotic foods and flavors. Antibiotic- and hormone-free ingredients and local and organic consumer goods are expected to gain market share as consumers seek these green and ethical attributes in their nutraceuticals, cosmetics, and food & beverage products to fit the ‘wellness’ lifestyle trend. These trends are further projected to attract investments from purslane extract-based product manufacturers across the globe, driving the purslane extracts market.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The Purslane Extract market is extremely competitive and consists of various global and regional players.  Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced treatments, along with joint ventures. The report is an extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of market players profiled

• Plamed Green Science Group (China)
• Durae Corporation (South Korea)
• Dermalab (Europe)
• The Garden of Naturalsolution (U.S)
• Y-Herb (U.S)
• JAKA (China)
• Undersun (U.S)
• Tinphy New Material (China)
• SK Bioland (South Korea)
• Vitalab (Italy)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.