Artichoke Extract Market Dynamics, Size, Share, Growth Factors & Forecast 2024

Global Artichoke Extract Market: Overview

Artichoke is a perennial flowering plant. Artichoke extract is mainly available in the powder form and is obtained from the leaves of the plant. The artichoke extract is a rich source of antioxidants and flavonoids thus providing immense health benefits. Artichoke extract has substances such as cynarine and chlorogenic acid which are the bile driving substances that benefits in the liver protection. The major industry that is benefitting from the artichoke extract is the food and beverage.

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Global Artichoke Extract Market: Segmentation

The global market for the artichoke extract market is fragmented into the application, product form, and the distribution channels. Based on the application, the global market is segregated into food and beverages, personal care, dietary supplements, and the cosmetic industry. The dietary supplements segment holds the largest market share and it is expected to dominate the market in the coming years. Based on the product form, the market is categorized into liquid form and powder form. The powder form dominates the product form segment. Based on the distribution channel, the market is divided into indirect and direct sales. The segment for the indirect sales is sub-divided into trader, wholesaler, and retailer. In the retail segment, online sales are majorly contributing to the market share.

Global Artichoke Extract Market: Growth Factors

The major factor that is driving the artichoke extract market is the growth in the awareness levels among the consumers about the health benefits that are provided by the artichoke extract which includes the protection of the liver by generating bile juices, blood pressure, diabetes, and others. The artichoke extract has a huge presence of the antioxidants and flavonoids thus it is in huge demand in the beverage industry for the usage of the herbal tea. The market will experience a significant growth in the coming years as the market for the plant extracts is increasing as the consumers highly prefer natural products in their regular diet. The factor that will limit the growth of the artichoke market is the availability of the other extracts of the plant that have the same therapeutic properties hampers the market growth.

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Global Artichoke Extract Market: Regional Analysis

According to the regional study, the global market for the artichoke extract is diversified into North America, Western Europe, the Middle East and Africa Eastern Europe, Asia Pacific, and Latin America. The region that is currently dominating the artichoke extract market is Europe. The region that is following Europe is North America. The factors that will contribute to the market growth in these regions in the coming years include the increasing consumption of the artichoke extract by the consumers and the increase in the awareness about the health benefits that are offered by the artichoke extract will contribute to the market growth.

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Global Artichoke Extract Market: Competitive Players

The key market players that are involved in the artichoke extract market include Nutra Green Biotechnology Co. Ltd., Gaia Herbs, Inc., Jiaherb, Inc., Hawaii Pharm LLC, and Nature’s Way Products, LLC.

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