Global Passion Flower Extract Market - 2023-2030

Global Passion Flower Extract Market - 2023-2030

Global Passion Flower Extract Market reached US$ 5.80 billion in 2022 and is expected to reach US$ 8.06 billion by 2030, growing with a CAGR of 4.20% during the forecast period 2023-2030.

Passion flower extract is a great source of antioxidant compounds such as quercetin that have bioactive effects on the nervous system and help in relaxation. It is used as a used as a functional ingredient for various food and beverages and also gaining popularity in the production of various pharmaceutical and personal care products. Increasing consumer awareness regarding the benefits associated with the passion flower extract positively drives market growth.

Passion flower extract has several functions including regulating neural stability, which includes mild sedative and anti-anxiety effects. It inhibits the spasticity of the smooth muscles, particularly in the digestive system, thus slowing down the rate of food through the digestive tract and promoting digestion. Passion flower extracts are a valuable source of vitamins A and C, as well as essential fatty acids, which provide numerous benefits to the skin.

The extracts possess excellent hydrating and moisturizing properties, making them ideal for use in anti-wrinkle and anti-ageing products, increasing their use in cosmetics and personal care products. For instance, in February 2023, MAC Cosmetics, a Canadian cosmetics manufacturer announced the launch of a nutrient-packed formula of MAC Cosmetics Liquid Lipsticks, which is infused with passion fruit oil.

Dynamics

High Use of Passion Flower Extract to Treat Insomnia and Anxiety

According to Sleep Foundation Organization statistics from 2023, 10-15% of people experience chronic insomnia. Women are 40% more likely to experience insomnia condition than men. Similarly, according to the World Health Organization 2023, 4% population is suffering from anxiety disorder at the global level. With the increasing cases of people suffering from such disorders, there is a greater need for the natural and effective treatment to solve the health issues.

The passion flower extract is ideal for people who suffer from disorders related to sleep and behaviour such as insomnia and anxiety. The passion flower works on increasing the level of a chemical, gamma-aminobutyric acid in the brain. Passion flower extract is commonly consumed by consumers to improve sleep quality by boosting gamma-aminobutyric acid levels, which lowers brain activity and promotes sound sleep.

Various manufacturers are inducing passion flower extract in the production of tea to reduce the adverse effect of insomnia and help in achieving relaxing sleep for consumers. Herbalife, the premier health and wellness company, introduced a new product Health Supplement Relaxation Tea into the market in October 2023. This formulated tea is the result of various natural herbs blends including chamomile, lavender, and passionflower. The product is designed to enhance relaxation and promote good sleep.

Increasing Demand for Natural Products

Rising consumer awareness regarding the adverse effects of synthetic products is increasing the demand for natural and healthy products in the global market. Consumers are actively adopting the use of natural products in various sectors such as food, personal care and pharmaceutical products. Various natural products such as passion flowers, ashwagandha and others are gaining high popularity in various applications due to their health benefits.

The new product launches in the sectors are driving the market growth. For instance, in August 2023, Genuine Health, a leading provider of all-natural and science-based supplements, announced the introduction of a new product line into the market with the launch of various products including Stress, Mood and Memory Supplements. The Stress Supplement product from Genuine Health is incorporated with passion flower, saffron and ashwagandha ingredients that help provide calm and restorative sleep.

High Cost of Passion Flower Extract

The high cost of passion flower extract is one of the major restraining factors for the market. Passion flower extract is costlier compared to other conventional products in the market due to the high cost of raw materials and high production costs. Price-sensitive consumers shift to other alternative products such as lavender, lemon balm and chamomile extract instead of passion flowers, hindering the market growth.

The high demand for the products in the global market is increasing research and developmental activities. High R&D is increasing the production costs for manufacturing, thereby, raising the cost of the final product. In addition, a lack of consumer awareness regarding the advantages of the passion flower extract negatively impacts the market growth.

Segment Analysis

The global passion flower extract market is segmented based on nature, form, distribution channel, end-use and region.

High Use of Passion Flower Extract in Treating Insomnia

The global passion flower extract market is segmented based on end-use into food and beverages, pharmaceutical uses, nutraceutical use, dietary supplements and cosmetic and personal care. The pharmaceutical use segment accounted for the largest share of the global passion flower extract. The high use of passion flowers as phytotherapeutics to treat various health issues including insomnia and anxiety is driving the market growth.

Passion flower extract is used as a herbal supplement to treat anxiety and insomnia. According to the National Center for Complementary and Integrative Health, passionflower extract is safe to use as an ingredient in sleeping pills. Increasing demand for anti-anxiety and anxiety disorder pharmaceuticals drugs with natural ingredients such as passion flower extract is driving the segment growth.

Geographical Penetration

Increasing Need for Natural Products to Treat Insomnia in Europe

Europe dominated the global passion flower extract market. The passion flower plants are highly popular among gardeners in various regions of Europe such as U.K., Germany and Spain. Passion flower extract is commonly used in homoeopathic medicine to treat pain, neurasthenia, and insomnia in Germany. The high adoption of passion flower extract in the European healthcare systems drives regional market growth.

According to the National Institute of Health 2023, one in ten adults is suffering from chronic insomnia in Europe. With the increasing cases of insomnia, manufacturers are developing new products with natural and effective products such as passion flower extract to deal with this particular health issue. NIH reported that passion flower extract is used in Europe as a pharmacological treatment for chronic insomnia.

With the increasing consumer preference for natural substitutes for synthetic treatments boosts the use of these extracts for medicinal purposes. According to the Health Food Manufacturers Association reports about 20 million U.K. people in 2020 consumed supplements on a daily basis. The increased health consciousness among consumers of this region increased their consumption of health supplements induced with natural products such as passion flowers.

Competitive Landscape

The major global players in the market include Naturalin Bio-Resources Co. Ltd., Alchem International Pvt. Ltd., Herb Pharm, Indena S.p.A, Avena Botanicals, Monterey Bay Herb Company, Select Botanical, NOW Foods, Swanson and Nutricost.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic had a mixed impact on the global passion flower extract market. The strict lockdown regulations from the government interrupted the production and distribution of various products including passion flower extracts. Improper facilities such as reduced raw material sourcing and workforce facilities negatively affected the market growth temporarily.

Pandemic conditions the increased health consciousness among consumers driving the market for natural and health-based products. People started prioritising health and adopted the use of health supplements in their daily lives. According to the Italian Association of Health Products and Manufacturers, Italian consumers adopted the use of dietary supplements in the pandemic situation.

Increased consumer interest in the adoption of healthy ingredients in their daily life to improve their health conditions increase their immune system and get rid of disorders such as anxiety and insomnia, increasing the demand for natural products such as passion flower extract. The availability of various types of passion flower extract products in the e-commerce platform increased the market demand during the pandemic time.

Russia- Ukraine War Impact

The Russia-Ukraine war negatively impacted several industrial sectors, including food. Globally, every kind of industry faced challenges due to interrupted supply chain activities and disturbed demand supply chain management. The scarcity of several materials increased the price of the products. The interrupted import and export trade transitions had a negative impact on the market.

By Nature
• Organic
• Conventional

By Form
• Liquid
• Dry

By Distribution Channel
• Supermarkets/ Hypermarkets
• Specialty Stores
• Convenience Stores
• E-Commerce
• Other

By End-Use
• Food and Beverages
• Pharmaceutical Uses
• Nutraceutical Use
• Dietary Supplements
• Cosmetic and Personal Care
• Other

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In January 2023, STADA announced the expansion of their German Hogger Night brand with the launch of Hogger Melatonin DUO capsules. The product is made of lavender oil, passion flower extract and other ingredients.
• In November 2022, You Again, a Functional food startup announced the introduction of a range of raw wildflower honey blended with herbs and botanicals. The product range with made of various healthy ingredients such as passion flower and ashwagandha, turmeric, goji berry and others.
• In February 2022, New Forest Ice Cream, a U.K.-based ice cream manufacturer, announced the introduction of a sweet and tangy flavoured Passion Fruit Sorbet into the market.

Why Purchase the Report?
• To visualize the global passion flower extract market segmentation based on nature, form, distribution channel, end-use and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of passion flower extract market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global passion flower extract market report would provide approximately 69 tables, 70 figures and 234 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies