The new report by Expert Market Research titled, ‘Global Salvia Miltiorrhiza Extract Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global salvia miltiorrhiza extract market, assessing the market based on its segments like nature, forms, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 13% (Global Plant Extract Market)
• Forecast Market Size (2025): USD 61 billion (Global Plant Extract Market)
The global salvia miltiorrhiza extract market is largely being driven by the increasing demand for the product from the Asia Pacific region. The Asia Pacific region’s market growth is facilitated by the increasing use of the extract in traditional and herbal medicines and favourable geographical conditions for the cultivation of salvia miltiorrhiza. The plant is native to the countries within the region. China constitutes the largest domestic market for the salvia miltiorrhiza extract industry. North America and Europe are also rising within the industry as potential markets for the salvia miltiorrhiza extract due to their rising investments towards the health industry caused by the coronavirus pandemic.
Industry Definition and Major Segments
Salvia miltiorrhiza is a popular Chinese herb which is also known as red sage, danshen, or Chinese sage. The herb grows on the hillsides and stream banks and is native to China. The roots of this herb are where the salvia miltiorrhiza extracts are obtained. This extract is considered to be highly effective in treating high cholesterol and blood circulation disorders. Some of the chemical compounds present in the salvia miltiorrhiza extracts are ursolic acid, daucosterol, baicalin, terpenoids, B-sitosterol, and phenolic acid.
Explore the full report with the table of contents@
By nature, the market can be bifurcated into:
On the basis of form, the market can be divided into:
Based on applications, the industry can be segmented into:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The salvia miltiorrhiza market is majorly being driven by the rising pharmaceutical sector across the world. In the last few years, the demand for botanicals has significantly increased, with botanical medicinal products experiencing a rapid increase. Thus, the rising adoption of botanical medicines is facilitating the growth of the global salvia miltiorrhiza extract market. In developed nations, where there is increasing disposable incomes, the rise in the demand for organic ingredients, combined with the rising awareness of salvia miltiorrhiza extract’s medicinal properties, is propelling the growth of the market. The rising research and development activities in the coming years are expected to facilitate the market growth in the forecast period.
Key Market Players
The major players in the market are Xian Yuensun Biological Technology Co., Ltd, Organicway, Wincobel Chemical Co., Ltd., Hawaii Pharm LLC, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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