2020-2027 Analysis and Review Wolfberry Extracts Market
Wolfberry Extracts Market By Clinical Application (Immunity Booster, Dietary Supplement and Others), By Distribution Channel (Supermarket, Retail Stores and E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027
The wolfberry extracts market was valued at USD 618.3 Mn by 2019. The rising prevalence of infectious diseases in immunocompromised patients worldwide primarily drives the wolfberry extracts market growth. Furthermore, rising public health awareness regarding the therapeutic efficacy of herbal medicines in treating chronic diseases further accelerates the market growth.
Wolfberry extracts also known as goji fruit or lycii fruit has diverse clinical application and is categorized as Chinese herbal medicine as it is an evergreen shrub native to Mongolia, China, Tibet and the Himalayan forests of India. They are rich in nutrients and provides vitamin B, manganese, copper, magnesium, and selenium, being a red-colored fruit it contains a sufficient quantity of carotenoids and zeaxanthin. Technological advancement in the nutrition science and technique in gaining extracts of vital phytochemicals having therapeutic significance provides positive thrust to the wolfberry extracts market growth.
The major segments related to the wolfberry extracts market are:
By Clinical Application (2017–2027; US$ Mn)
Immunity Booster
Dietary Supplement
Others
By Distribution Channel (2017–2027; US$ Mn)
Supermarket
Retail Stores
E-commerce
Geography Segment (2017–2027; US$ Mn)
North America
U.S.
Canada
Europe
United Kingdom
Germany
Russia
France
Italy
Spain
Ukraine
Rest of Europe
Asia Pacific
China
Japan
Rest of Asia Pacific
Latin America (LATAM)
Brazil
Mexico
Rest of Latin America
Middle East and Africa (MEA)
GCC
Rest of MEA
Justification for study?
Report gist?
The study includes the profiles of major market players with a significant global and regional presence along with top company positioning.
Significant customers?
Segment Analysis
Immunity booster is representing the largest market share in the clinical application segment for wolfberry extracts market. As per the latest research findings provided by the World Health Organization (WHO), it is estimated that about 5 million cases of influenza is reported each year throughout the globe. The looming threat of microbial resistance to antibiotics and the growing incidence of viral infection pandemics worldwide tighter increases the demand for wolfberry extracts market. Dietary supplements are going to register rampant market growth in the near future owing to the significant increase in the lifestyle disorders worldwide and constant growth observed in the nutraceutical industry.
The supermarket is presently leading the distribution channel segment for wolfberry extracts market. It serves as a lucrative opportunity for consumers opting for a one-stop shopping experience on weekends and getting exposure to diverse product portfolio pertaining to wolfberry extracts market. Retail stores serve as the most preferred shopping destination for consumers receiving prescription form either a dietician or nutritionist to gain access to the right choice of dietary supplement. E-commerce is expected to showcase exemplary market performance during the forecast period on account of the availability of products at affordable prices and attractive discount coupons.
North America is presently dominating the geography segment for wolfberry extracts market. The growing incidence of infectious disease in immunocompromised patients primarily drives the market growth in the region. According to the latest statistics provided by the Center for Disease Control and Prevention (CDC), approximately 61,000 deaths occur each year associated with influenza infection in the United States. Furthermore, a supportive regulatory environment provided by the USFDA for the sale and distribution of herbal medicines accentuates the market growth in the region. Europe is placed in the 2nd position in the regional segment on account of the increasing public health awareness regarding the therapeutic efficacy of wolfberry extract in the treatment of chronic lifestyle disorders such as hypertension and diabetes etc. The Asia Pacific is anticipated to be the fastest-growing regional segment for wolfberry extracts market. Presence of a niche environment for Chinese herbal medicines and proactive role adopted by government agencies to nurture traditional medicines and naturopathy clinics further accelerate the wolfberry extracts market growth in the region.
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