The global forskolin market size reached US$ 481.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 781.43 Million by 2028, exhibiting a growth rate (CAGR) of 8.20% during 2023-2028. The escalating demand for herbal and ayurvedic products, growing usage of forskolin in cosmetics and personal care items, and increasing product applications in foods and beverages represent some of the key factors driving the market.
|Market Size in 2022
||US$ 481.1 Million
|Market Forecast in 2028
||US$ 781.43 Million
|Market Growth Rate (2023-2028)
Forskolin is a labdane diterpenoid obtained from the roots of the Indian Coleus plant, which is a tropical plant related to mint. It is a natural active compound used as a plant metabolite, an anti-HIV agent, a protein kinase A agonist, an adenylate cyclase agonist, an antihypertensive agent, and a platelet aggregation inhibitor. It offers antihypertensive, positive ionotropic, smooth muscle relaxant, and platelet aggregation inhibitory properties. It also helps reduce intraocular pressure and stimulates the release of hormones from the pituitary gland. It has a long history of use in traditional Ayurvedic medicine. It is known to promote weight loss, lower high blood pressure, and treat glaucoma, heart diseases, and asthma. As a result, forskolin finds extensive applications in the formulation of dietary supplements and herbal medicines.
Forskolin Market Trends:
In recent years, there has been a substantial shift among the masses from synthetically processed ingredients toward naturally derived, herbal, and ayurvedic products. This, coupled with the rising usage of forskolin in the production of medicines, healthcare, and fitness products due to its high medicinal value, represents one of the key factors driving the market growth. Moreover, the growing adoption of high-purity forskolin in manufacturing cosmetics and skincare items as a conditioning agent has augmented the product demand. Additionally, the increasing preference for natural ingredients with active properties, such as anti-aging, in personal care products has catalyzed market growth. This is further strengthened by the aging population, growing consciousness regarding personal appearance, improving lifestyles, and elevating social media influence. In line with this, the escalating demand for dietary supplements owing to the widespread prevalence of lifestyle diseases, including obesity, high blood pressure, and cardiovascular disorders, has propelled market growth. Furthermore, the leading manufacturers are focusing on the development of forskolin sustainably with high-speed innovations in synthetic biology. In line with this, continual technological advancements in production processes and new product launches are contributing to market growth. Other factors, including the expanding pharmaceutical industry, increasing product applications in food and beverages, inflating consumer disposable incomes, and extensive research and development (R&D) activities, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global forskolin market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on concentration and end use.
- Low Concentration (10%)
- Medium Concentration (20%-40%)
- High Concentration (95%)
The report has provided a detailed breakup and analysis of the forskolin market based on the concentration. This includes low concentration (10%), medium concentration (20%-40%), and high concentration (95%). According to the report, high concentration (95%) represented the largest segment.
End Use Insights:
- Dietary Supplements
A detailed breakup and analysis of the forskolin market based on the end use has also been provided in the report. This includes nutraceuticals, pharmaceuticals, dietary supplements, and others. According to the report, dietary supplements accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
The report has also provided a comprehensive analysis of the competitive landscape in the global forskolin market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alchem International Pvt. Ltd., Alpspure Lifesciences Pvt. Ltd., Bioprex Labs, Cymbio Pharma Pvt Ltd, Flavour Trove, Glentham Life Sciences Limited, Nutra Green Biotechnology Co. Ltd., Sabinsa Corporation, Varion Lifesciences Pvt. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- End Use
||Low Concentration (10%), Medium Concentration (20%-40%), High Concentration (95%)
|End Uses Covered
||Nutraceuticals, Pharmaceuticals, Dietary Supplements, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alchem International Pvt. Ltd., Alpspure Lifesciences Pvt. Ltd., Bioprex Labs, Cymbio Pharma Pvt Ltd, Flavour Trove, Glentham Life Sciences Limited, Nutra Green Biotechnology Co. Ltd., Sabinsa Corporation, Varion Lifesciences Pvt. Ltd., etc.
||10% Free Customization
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|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global forskolin market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global forskolin market?
- What is the impact of each driver, restraint, and opportunity on the global forskolin market?
- What are the key regional markets?
- Which countries represent the most attractive forskolin market?
- What is the breakup of the market based on concentration?
- Which is the most attractive concentration in the forskolin market?
- What is the breakup of the market based on the end use?
- Which is the most attractive end use in the forskolin market?
- What is the competitive structure of the global forskolin market?
- Who are the key players/companies in the global forskolin market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the forskolin market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global forskolin market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the forskolin industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.