Maca Extract Market to Grow with a CAGR of 5.9% Globally through to 2028
Increasing awareness of the health benefits of maca
extract, growing popularity of plant-based diets are factors driving the Global
Maca Extract market in the forecast period 2024-2028.
According to TechSci Research report, “Global Maca
Extract Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Maca Extract Market stood at USD 55.4
million in 2022 and is anticipated to grow with a CAGR of 5.9% in the forecast
period, 2024-2028. In
recent years, maca extract has become increasingly popular in the Western world
due to its purported health benefits. Maca extract is commonly used to improve
energy levels, stamina, libido, and fertility. It is also used to boost the
immune system, reduce stress and anxiety, and improve mood. The maca extract
market is segmented by type, application, and distribution channel. By type,
the market is segmented into gelatinized maca extract and non-gelatinized maca
extract. By application, the market is segmented into dietary supplements, food
and beverages, cosmetics, and pharmaceuticals. By distribution channel, the
market is segmented into online and offline.
Maca is often promoted for its potential
health benefits, including increased energy, improved mood, enhanced libido,
and hormone balance. It is considered an adaptogen, which means it may help the
body adapt to stress and balance various systems. Growing interest in natural
and plant-based remedies has driven the demand for maca extract as a dietary
supplement. Increasing awareness of its potential health benefits has led to a
surge in consumer demand. The popularity of herbal and botanical supplements
has contributed to the growth of the maca extract market. Regulatory standards
and quality control are important factors in the maca extract market,
especially for products marketed as dietary supplements. Compliance with
labelling requirements and safety regulations is crucial for manufacturers and
suppliers.
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Extract Market”
The diversification of maca extract applications
presents both opportunities and challenges for the industry. On one hand, it
opens up new markets and revenue streams for manufacturers. On the other hand,
it requires a deeper understanding of the specific requirements and regulations
in these industries, as well as the need for product formulation expertise.
Companies in the maca extract market are investing in
research and development to explore innovative ways to incorporate maca into
various products. As consumer demand for functional foods, natural cosmetics,
and holistic healthcare continues to rise, the trend of expanding maca extract
applications is likely to persist.
Manufacturers and suppliers in the maca
extract market are increasingly recognizing the importance of sustainability
and ethical production practices as a selling point. They are investing in
initiatives that promote responsible sourcing, support local communities, and
minimize the environmental impact of maca cultivation.
Manufacturers are offering customized dosage options
to cater to the specific needs of consumers. This includes different
concentrations of maca extract in capsules, powders, or liquid forms. Customization
allows consumers to select the dosage that best suits their preferences and
health goals.
The focus on sustainable sourcing and ethical
production practices is a significant trend in the maca extract market. As
consumer awareness of environmental and social issues continues to grow,
companies that prioritize sustainability and ethics are likely to gain a
competitive edge in the market.
The Global Maca Extract Market is segmented into type,
application, distribution channel, regional distribution, and company.
By type, the market is segmented into Gelatinized maca
extract and Non-gelatinized maca. Extract. Among which Gelatinized maca extract
is accountable for largest market share in the maca extract market in 2022. Gelatinized maca
extract is easier to digest and absorb than non-gelatinized maca extract. It is
also more water soluble, making it easier to incorporate into food and beverage
products.
Based on region, The North American region is the
largest market for maca extract, followed by Europe and Asia Pacific. The North
American market is driven by the increasing awareness of the health benefits of
maca extract and the growing demand for natural and organic products. The
European market is driven by the rising popularity of plant-based diets and the
increasing prevalence of infertility and sexual dysfunction.
Major companies operating in Global Maca Extract Market
are:
- Navitas Organics
- Maca Magic
- Sun Potion
- Gelatinized Maca
- NOW Foods
- Pure Encapsulations
- Gaia Herbs
- Swanson Health Products
- Jarrow Formulas
- Organic Traditions
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“The maca extract market has experienced robust growth
in recent years, driven by increasing consumer interest in natural and
plant-based health solutions. Growing awareness of maca's potential health
benefits, including hormonal balance and enhanced energy, has fueled demand.
Additionally, the expansion of maca extract applications beyond dietary
supplements into food, beverages, cosmetics, and pharmaceuticals has
contributed to market growth. As consumers prioritize sustainability and
ethical sourcing, companies are adapting to meet these demands, further driving
the market's expansion. Overall, the maca extract market is poised for
continued growth as consumers seek holistic and sustainable wellness solutions.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Maca
Extract Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By
Type (Gelatinized Maca Extract, Non-Gelatinized Maca Extract), By Application (Dietary
Supplements, Food And Beverages, Cosmetics, Pharmaceuticals, Others), By Distribution
Channel (Online, Offline), By Region, By Competition, 2018-2028”, has evaluated
the future growth potential of Global Maca Extract Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Maca Extract Market.
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