01 March 2021
Visiongain has published a new report on Amla Extracts Market Report to 2031: Forecasts by Form (Powdered, Pulp), By Functionality (Diabetes Management, Skin & Collagen, Cardiovascular Health, Blood Vessel Health, Others), By End-use Industries (Healthcare, Personal Care, Food & Beverages, Others), By Distribution Channel ((Online Channels, Offline Channels (Organized Retail (Supermarkets & Hypermarkets, Convenience Stores, Departmental Stores, Others), Unorganized Retail)) PLUS Profiles of Leading Amino Acid Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global Amla Extracts market was valued at US$ xx million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Growing awareness about products that are rich in antioxidants is one of the key factors supporting the growth of the amla extracts market.
COVID-19 Impact on Amla Extracts Market
The COVID-19 pandemic has bought along a worldwide recession, which has affected the economic growth of major countries such as China, India, Japan, the U.S., Germany, and France among others. Lockdown imposed in these countries have suspended trade activities, thereby disrupting the supply chain. As a result, there was a significant gap in demand and supply, leading to shortages in products during the initial days of the lockdown. Sale for products such as amla extracts shot up for a brief period of time, during the initial phase, as people stockpiled their inventories with products as a result of panic buying. However, sale of such products receded as consumers’ purchasing pattern shifted towards essential products and frequent visits to retail stores declined. In addition, growing unemployment and salary deductions have forced consumers to pull their purchases and focus on what is absolutely essential. This has put a certain pressure on markets such as amla extracts, since these products are not priority products. However, sale of such products is expected rebound in the last quarter of 2020, as markets have nearly opened up across the world.
Increasing Demand for Amla Extracts among Diabetics
There is a growing demand for amla extracts among the diabetic population, as it is considered to have anti diabetic actions, and also causes blood glucose to drop significantly. Amla, also known as Indian Gooseberry is high in Vitamin C and skin healing nutrients that can build the immune system by way of strengthening out gut microbiome. Further, amla also helps to resist insulin and balances out high blood sugar levels. Amla eliminates toxins from the body and also heals cellular metabolism, which is good for people suffering from diabetics. China, India, the U.S. are few countries, where the diabetic population is relatively higher as compared to other countries. Diabetic population in India stood at 144 million in 2019, followed by China, where the population stood at 132 million and the U.S., where the population stood at 35 million in the same year. Owing to the high diabetic population, these countries are shifting their focus towards to the consumption of amla extracts, which is a major factor driving the growth of the market.
Growing Demand for Dietary Supplements
Evolving feeding habits of people in India have paved the way for dietary supplements. Discretionary income of a certain part of the Indian population has improve dramatically over the years. This has led the populace to focus more on their health and wellbeing, which includes going to the gym, consuming dietary supplements in order to stay fit and active and various other measures. Further, there is a growing trend where millenials tend to live alone, away from their families, in different cities, mostly for work or education purposes. This group of people who live alone seldom get to have healthy home cooked meals, due to their busy lifestyles. This is the reason why millenials spend a certain portion of their income on dietary supplements, in order to stay fit and active, which in turn is pushing the market growth of dietary supplements in India. Amla extracts is highly recommended as dietary supplements, since they are loaded with Vitamin C, thereby helping to boost immunity. Further, amla extracts also come packed with a wide range of polyphenols that have the ability to restrict the growth of cancer cells. The dietary supplements industry in India is expected to witness a dramatic growth of more than 20% during the forecast period, effectively supporting the growth amla extracts market in the country.
Growing Trend of Do it Yourself (DIY)
There is a growing trend of DIY among price sensitive consumers, and that trend has grown tremendously over the years. Consumers have become increasingly aware of every day products they can make at home instead of buying them. This helps them to save a lot of money purchasing products that could be easily made at home. Retail sale of amla extracts is hampered due to the fact that amla extracts can indeed be made at home. To make the extract, one simply needs to purchase the entire fruit, remove the seed, crush the pulp and extract the juice. This entire process is totally cost effective, as opposed to purchasing amla extracts from retail stores. The growing trend of DIY among people is a major factor barring market growth of amla extract at present.
Some of the companies profiled in the report include Biomax, Taiyo International, Archerchem, Sydier Group, Herbeno Herbals, and Nutragenesis among others. These companies are involved in several organic and inorganic strategies in order to ensure long term sustenance in the Amla Extracts market.
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