Procurement Outlook
Hibiscus flower powder is a rich source of antioxidants. It is a major source of natural and organic cosmetics due to its high mucus content and anti-inflammatory and exfoliating properties. Following are the benefits of hibiscus flower powder:
- Health benefits:
- Improves digestion
- Help in weight loss
- Prevents Anemia
- Skin benefits:
- Anti-aging properties to make skin firm and prevent wrinkles
- Exfoliant: Regenerates skin cells by producing a mild exfoliating effect
- Removes dead skin cells
- Anti-oxidant properties to keep skin healthy and glowing
- The presence of Anti-bacterial properties and vitamin C removes acne
These health and skin benefits associated with hibiscus flower powder increases procurement need for the same from food and beverages and cosmetics industries.
Demand Outlook
The global hibiscus flower powder market is valued at ~USD 120 million in 2020 and it is expected to grow at a CAGR of 7.5% from 2020 to 2027 due to increasing demand from the food and beverages and personal care industries. The food and beverages segment is leading the global hibiscus flower powder market with more than 45% market share in 2020. However, the personal care segment is expected to witness the highest growth rate among other applications during the forecast period. North America generates the highest demand for hibiscus flower powder, as the region is a key importer of organic compounds. Whereas APAC is the largest producer of hibiscus flower powder due to the presence of large cultivation lands and favorable weather conditions.
Cost Drivers
Hibiscus flower powder is made from hibiscus flower and procurement of hibiscus flower is the major cost driver of hibiscus flower powder production. The cost of procuring hibiscus flowers accounted for more than 50% of the overall cost of overall hibiscus flower powder production. Other major cost components include processing costs, machinery costs, labor costs, etc. Many North American and European companies are planning to relocate their production base to APAC due to the high availability of raw materials and low-cost labor. It also reduces the additional logistics cost and increases profitability.
Grab your copy, or request for a free sample of the “Hibiscus Flower Powder Market Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Add-on Services provided by Grand View Research Pipeline:
Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landsca
- pe, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
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