The global Hibiscus Flower Powder market size is expected to be worth around US$ 197.02 million by 2028, according to a new report by Vision Research Reports.
The global Hibiscus Flower Powder market size was valued at US$ 113.5 million in 2020 and is anticipated to grow at a CAGR of 7.5% during forecast period 2021 to 2028.
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Hibiscus flower is an excellent source of antioxidants and promotes weight loss and boosts liver health. Rising consumer shift towards the use of natural supplements to replace the allopathy medications is expected to propel product demand over the projected period.
The industry is expanding across the globe through cooperative contributions by farmers, manufacturers, exporters, and other players in the supply chain. The major restraint for the manufacturers is the accessibility of raw material. However, initiatives put in place by the agricultural researchers to improve hibiscus cultivation and crop yield are likely to help the industry grow over the projected period.
Hibiscus flower powder is widely available across India, South Korea, and Nigeria. As a result, manufacturers can find opportunities to invest in such countries to set up manufacturing plants to get easy access to raw materials. High export opportunities for the product in the international markets are likely to compel the investors to enter the market.
The online sale of hibiscus flower powder by the manufacturers can expand the market opportunities for the product. The e-commerce platform enables manufacturers to reach consumers even across remote areas. Furthermore, increasing the manufacturer’s efforts to promote the benefits of products to increase consumer awareness and offer consumer-friendly packaging options is expected to have a positive impact on market growth.
The food and beverages segment led the hibiscus flower powder market and accounted for 46.5% of the global revenue share in 2020. An extensive scope of application for the product for manufacturing cocktails, sector puddings, jelly, juice, and jams is expected to key factor for the highest market share of this segment. Growing consumer interest in a variety of packaged food products is expected to boost product demand.
Hibiscus is considered as a medicinal plant with high phytochemicals, which is commonly known for delicacy and medicinal and nutritional properties. The increasing significance of natural ingredients in the modern pharmaceutical and nutraceutical segments is expected to have a positive impact on the growth of the market for hibiscus flower powder.
The cosmetics segment is expected to register a significant CAGR over the forecast period because of the increasing demand for organic and natural cosmetic products, such as facial masks, lip balm, hair conditioners, and lotions, soap. Emerging personal care companies across the developing countries are expected to support growth.
The conventional segment led the market for hibiscus flower powder and accounted for more than 76.11% of the global revenue share in 2019. The demand for these products is expected to grow, as they are cost-effective and easily available. Companies provide hibiscus extract-based flavoring agent that can be used in juices, smoothies, and other icy drinks.
The organic product is expected to expand at the fastest CAGR of 7.10% from 2020 to 2027 in the market for hibiscus flower powder. Growing concerns regarding the effects of harmful chemicals present in conventional products are boosting the demand for organic products. The capacity of the product to eradicate the risk of underwater and soil contamination help to conserve biodiversity and makes it one of the eco-friendly choices.
Apart from serving as a natural ingredient in cosmetic and personal care products, hibiscus flower powder also acts as a natural colorant. The study forecasts that the sales of hibiscus flower powder to increase in 2020, while the rapid adoption of organic variants is expected to result in increased market share.
The growing significance of organic labeling in the pharmaceutical and nutrition sectors as a result of rising awareness regarding the disadvantages of chemicals used in cultivation, manufacturing, and processing of these products is expected to support the growth of the segment in the market for hibiscus flower powder.
North America dominated the market for hibiscus flower powder and accounted for over 34.7% of global revenue share in 2020. Massive demand from the food and beverage segment, followed by pharmaceutical, and personal care application industries in the region are the key factors contributing to market growth in North America.
The Asia Pacific region is expected to emerge as one of the key manufacturing regions of the product. Huge cultivation lands present across the developing countries coupled with favorable weather for hibiscus cultivation in the region is expected to drive the market for hibiscus flower powder in the region.
- Bio Organic
- Herbeno Herbals
- The Republic of Tea
- Traditional Medicinals
- Bio Actives
- Wild Hibiscus Flower Co.
- Rena Beverage Solutions
- Fortune Health Care
- Nature Outlook
- Application Outlook
- Food & Beverages
- Personal Care & Cosmetics
- Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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