Hibiscus Extract Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 178.97 Million |
| Market Size (2029) | USD 263.04 Million |
| CAGR (2024 - 2029) | 8.01 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hibiscus Extract Market Analysis
The Hibiscus Extract Market size is estimated at USD 178.97 million in 2024, and is expected to reach USD 263.04 million by 2029, growing at a CAGR of 8.01% during the forecast period (2024-2029).
The demand for hibiscus powder has been increasing due to several factors that span health benefits, culinary uses, beauty and skincare applications, and growing trends in natural and organic products. Consumer demand for organic and natural food products is increasing. Also, the demand for clean-label and non-GMO ingredients is increasing, which is why the usage of hibiscus powder as flavor and color ingredients is rising. Hibiscus extract, recognized for its antioxidant and anti-inflammatory properties, is a crucial component in various healthy beverage products, including processed fruit juices and soft drinks. As the market for premium and organic beverages expands, the demand for hibiscus extracts within the food industry is also on the rise. According to the USDA Foreign Agriculture Services鈥� data from 2022, the consumption value of organic beverages in India was USD 92 million.
Moreover, hibiscus acts as a natural conditioner, making hair softer, smoother, and shinier. It helps in detangling hair and reducing frizz, which is why it is included in hair masks and leave-in conditioners. Consumers are increasingly looking for 鈥渃lean鈥� beauty products that are free from synthetic chemicals and harsh ingredients. Hibiscus, being a natural and plant-based ingredient, fits well into this trend. It is considered a safe and effective alternative to many synthetic ingredients. Owing to this, beauty and personal care manufacturers are adding hibiscus extracts to different hair care products like serums, oils, and conditioners. Market players like Veda Oils and Madura Herbals provide hibiscus powders and liquids for hair care and other personal care uses as well. Furthermore, other uses of hibiscus extracts include aroma therapy. The product is used in diffusers and fragrances to give a pleasant feeling. Thus, the demand for hibiscus extracts is expected to grow over the forecast period, owing to its increasing applications in different industries.
Hibiscus Extract Market Trends
Increasing Demand for Powdered Hibiscus Extract Driving the Market
The market for hibiscus extracts is registering a steady rise, driven by a growing consumer appetite for healthy, natural ingredients. This trend is particularly evident in the food and beverage industry, where consumers increasingly favor nutritious options. Hibiscus tea is popular worldwide. The powder is used to make herbal teas and blends, offering a tart, cranberry-like flavor and a rich red color. It is often combined with other herbs, spices, and fruit flavors.
Moreover, hibiscus powder is also used in face masks, scrubs, and cleansers for its exfoliating properties. It is believed to help with skin hydration, improving skin tone, and reducing signs of aging due to its high content of alpha-hydroxy acids. In hair care, hibiscus powder is used in shampoos, conditioners, and hair masks. It is known to promote hair growth, reduce hair fall, and add shine to the hair. As the consumption of these personal care products is increasing, the demand for hibiscus powder is also growing.
With a rising preference for straightforward, natural ingredients, hibiscus powder aligns well with the clean-label movement, which reduces the use of synthetic additives. Also, the demand for clean-label and organic ingredients is on the rise, owing to consumer awareness. Consequently, its utilization in beverages and nutraceutical supplements, targeting heart health, cognitive well-being, and immunity, is on the upsurge. According to the Council for Responsible Nutrition鈥檚 data from 2023, 74% of adults in the United States consume different types of supplements. Given these dynamics, the demand for hibiscus powder is poised for a medium-term surge, buoyed by its expanding roles in the food and nutraceutical industries.
Europe Holds the Largest Market Share
The European hibiscus extracts market is witnessing a surge in demand, propelled by a growing preference among consumers for natural health products. The continent's aging population, combined with an increased emphasis on health and wellness, is a key driver of this trend. Also, consumers are using more anti-aging products, which boosts the demand for hibiscus extracts. Hibiscus, renowned for its anti-aging properties, is prized for its ability to enhance skin elasticity and serve as a natural source of alpha-hydroxy acids (AHAs), known for their skin-brightening and exfoliating benefits. Consequently, the utilization of hibiscus extracts in anti-aging creams is on the rise. According to the IfD Allensbach, in 2023, approximately 7.9 million women in the German-speaking market aged 14 and older reported using anti-aging cream in the past weeks.
Furthermore, the European market for health-focused pharmaceuticals is expanding, driving an increase in the utilization of hibiscus extracts in various tablets and health products. The consumption of hibiscus is claimed to reduce cholesterol and the risk of heart disease. The prevalence of these diseases is rising in the region, which is why manufacturers are including hibiscus extracts in different supplements and pharmaceutical products. According to the Scottish government鈥檚 data from 2022, 6% of men and 4% of women in the country had ischemic heart diseases. Veda Oils provides hibiscus extract that reduces stress and hypertension and enhances overall immunity. Such growing trends underscore the rising demand for hibiscus extracts in the European beauty and personal care and pharmaceutical markets.
Hibiscus Extract Industry Overview
The global hibiscus extracts market is fragmented, with regional and global players dominating the market. The prominent players in the market include Givaudan SA, OBG Pharmaceuticals Ltd, Fengchen Group, Merck Group, and Wild Hibiscus Flower Co. These players are providing high-quality, nutritious hibiscus extracts for various applications, catering to the market demand for plant-based natural ingredients. The companies also adopt strategies like mergers and acquisitions, partnerships, product launches, and expansions to boost market growth. Firms are increasingly prioritizing sustainable sourcing and production practices to align with rising consumer preferences for eco-friendly products.
Hibiscus Extract Market Leaders
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Givaudan SA
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Wild Hibiscus Flower Co.
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Merck Group
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OBG Pharmaceuticals Ltd
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Fengchen Group Co., Ltd
*Disclaimer: Major Players sorted in no particular order
Hibiscus Extract Market News
- October 2022: Nuherbs launched a new partnership with Mexican hibiscus growers to minimize supply chain issues. The California-based company was set to announce an expanding partnership, highlighting its portfolio of hibiscus ingredients, including whole flower and liquid and powder extracts.
- February 2022: Merck AG launched new cosmetic ingredients, RonaCare Baobab and RonaCare Hibiscus, a nutrient-rich ingredient used in different skincare and cosmetic products. RonaCare Hibiscus not only reduces skin irritation but also enhances the care of sensitive skin, providing protection against oxidative stress, safeguarding collagen from degradation, and improving skin cell vitality.
- July 2021: Nuherbs and Hibiscus Products LLC launched PHYTOHIB100, claiming it to be the United States' highest-quality organic and kosher-certified Hibiscus sabdariffa Powered Extract. The company utilized its proprietary CleanBrew extraction and drying process, which operates at lower temperatures than conventional methods. This innovative approach enabled Nuherbs to capture the distinct flavor and color profile of Hibiscus sabdariffa. Consequently, the company offered a concentrated, water-soluble, and easy-to-store hibiscus extract of exceptional quality, free from residual solvents, carriers, or excipients.
Hibiscus Extract Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing Consumer Consciousness 糖心vlog传媒 Natural Ingredients
4.1.2 Rising Popularity of Fortified/Functional Food and Beverages
4.2 Market Restraints
4.2.1 Stiff Competition from Alternative Extracts
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Powder
5.1.2 Liquid
5.2 Application
5.2.1 Food and Beverages
5.2.2 Pharmaceuticals
5.2.3 Personal Care
5.2.4 Dietary Supplements
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Positioning Analysis
6.3 Company Profiles
6.3.1 Givaudan SA
6.3.2 Fengchen Group Co. Ltd
6.3.3 Merck Group
6.3.4 OBG Pharmaceuticals Ltd (Ransom Naturals Ltd)
6.3.5 Medikonda Nutrients
6.3.6 Veda Oils
6.3.7 Wild Hibiscus Flower Co.
6.3.8 Herbal Creations
6.3.9 Xi'an Angel Biotechnology Co. Ltd
6.3.10 Naturalin Bio-Resources Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hibiscus Extract Industry Segmentation
Hibiscus extract, sourced from the dried calyces of the Hibiscus sabdariffa flower, offers a robust nutritional profile. It is particularly rich in anthocyanins, which contribute to its distinctive red color and strong antioxidant properties. The global hibiscus extracts market is segmented by type, application, and geography. By form, the market is segmented into powder and liquid. By application, the market is segmented into food and beverages, pharmaceuticals, personal care, dietary supplements, and other applications. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The market sizes and forecasts have been done in value terms (USD) for all the abovementioned segments.
| Type | |
| Powder | |
| Liquid |
| Application | |
| Food and Beverages | |
| Pharmaceuticals | |
| Personal Care | |
| Dietary Supplements | |
| Other Applications |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Hibiscus Extract Market Research FAQs
How big is the Hibiscus Extract Market?
The Hibiscus Extract Market size is expected to reach USD 178.97 million in 2024 and grow at a CAGR of 8.01% to reach USD 263.04 million by 2029.
What is the current Hibiscus Extract Market size?
In 2024, the Hibiscus Extract Market size is expected to reach USD 178.97 million.
Who are the key players in Hibiscus Extract Market?
Givaudan SA, Wild Hibiscus Flower Co., Merck Group, OBG Pharmaceuticals Ltd and Fengchen Group Co., Ltd are the major companies operating in the Hibiscus Extract Market.
Which is the fastest growing region in Hibiscus Extract Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hibiscus Extract Market?
In 2024, the Europe accounts for the largest market share in Hibiscus Extract Market.
What years does this Hibiscus Extract Market cover, and what was the market size in 2023?
In 2023, the Hibiscus Extract Market size was estimated at USD 164.63 million. The report covers the Hibiscus Extract Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hibiscus Extract Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hibiscus Extract Industry Report
Statistics for the 2024 Hibiscus Extract market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Hibiscus Extract analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
