Growing consumer needs and their awareness about garcinia supplements for managing body weight and has grown in recent years. The growth has been driven by the increased acceptance of natural health supporting ingredients amongst the consumers. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Garcinia Market Research Report- Forecast to 2027” that the market will demonstrate an exceptional CAGR while achieving million dollar growth readily in the forecast period.
Increasing prevalence of diseases, for instance, obesity has increased the application of garcinia in various industries such as supplements, pharmaceuticals, functional food & beverages, and others. Garcinia serve as a source in prevention from factors which leads to obesity and other body weight related disorders. Continuously increasing obesity and other body weight related issues across the globe has turned up an opportunity for supplements, functional food and beverage industry to include garcinia in their products, which is driving the growth of the global garcinia market. Garcinia serves as a source in reducing and managing body weight and prevents conditions like obesity and unnecessary body fat deposition.
Increasing health conscious population and inclination of consumers towards food supplements is boosting the growth of garcinia market. Moreover, continuous increase in health issues among the growing population has opened doors for garcinia market owing to its health beneficial attributes. However, stringent government laws and regulations for application of garcinia in the products may hamper the growth of the market.
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Latest Industry Updates:
May 2017 TLS Weight Loss Solution has launched two of the hottest ingredients for weight loss in the name of Green Coffee Bean Extract and Garcinia Cambogia. Green Coffee Extract, is the most clinically researched brand of green coffee bean extract, which has been shown superior to its competitors in promoting healthy weight management and helping to maintain normal blood sugar levels.
Dec 2016 Pure Nutrition has launched its flagship e-commerce portal in Dubai with a bid to explore the natural formulations market with its expanded range of products including Garcinia for weight management.
Nov 2016 Garcinia Cambogia Fusion Burn Fat Burner has been officially launched on Amazon.com. The product is enhanced with weight-loss formula which is natural, safe, and sustainable
Major Key Players:
With the entry of new industrial players in the weight loss products, established players are continuously involved in product improvisations and constantly keep adding new products to their offerings. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing in terms of quality and creating product differentiation to gain consumers attention. The best long-term growth opportunities for this sector can be captured by ensuring ongoing financial investments in the optimal strategies.
With strategic expansions, market players can focus on penetrating into the developing economies to expand their business portfolio. Consumers in developing countries are keen on exploring new product range offered to them and form a large consumer base. Establishing market in these emerging economies is profitable based on relatively low set-up costs, ease of doing business, and further lower variable cost to be incurred.
The key players profiled in Garcinia are Hunan Huacheng Biotech Inc. (China), Guangdong Hybribio Biotech Co., Ltd. (Hong Kong), Hunan Nutramax Inc. (China), Nuvaria Ingredients (U.S.), Ambe Phytoextracts Private Ltd. (India), Indfrag Limited (India), Honson Pharmatech Group Ltd. (Canada), Xi’an Lyphar Biotech Co., Ltd. (China), Sia Fruits Serviss, and Zeon Health UK Ltd. (U.K)
The global garcinia market has been divided into function, form, application, and region.
On the Basis of Function: Immune Health, Digestive Health, Weight Control, and Others
On the Basis of Form: Powder, Liquid, and Others
On the Basis of Application: Foods & Beverages, Dietary Supplements, Functional Foods, Functional Beverages, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
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The global garcinia market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific region is dominating the market followed by Europe. Indonesia is the major producer of garcinia in the global market. Inclination towards body weight management among the consumers is driving the garcinia market in the Europe. Furthermore, Asia Pacific is witnessed to be the fastest growing region over the forecast period. Increasing obese population and growing health awareness in developing countries like India and China is boosting the growth of Asia Pacific market.
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