Global Forskolin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Forskolin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Forskolin refers to natural supplement obtained from the root of a Coleus forskohlii plant. Forskolin extract, herb of the mint species, is of high medicinal value. It is mostly found in countries of South East Asia, Thailand, and mostly India. Forskolin plant is essentially utilized for treating intestinal disorders and several cardio vascular diseases. It is herbal remedy for diseases such as asthma, high blood pressure, and chest pain. It is also effective in treating insomnia. It is an effective remedy against allergies and other skin related problems. It also controls appetite and boost energy levels. Forskolin extract is also capable in reducing excess fat from the body. It stimulates the thyroid hormone of the body, thereby increase metabolism which in turn help in reducing weight. These high health benefits are expected to contribute significantly in raising the consumption levels of Forskolin extracts during the forecast period.

Market Overview:

The latest research study on the global Forskolin market finds that the global Forskolin market reached a value of USD 117.99 million in 2022. It’s expected that the market will achieve USD 153.48 million by 2028, exhibiting a CAGR of 4.48% during the forecast period.

COVID-19 Impact

The current COVID-19 pandemic, which has wreaked havoc on global trade and industry, is expected to suffocate the Forskolin market. Producers have suffered from fall in demand.
Apart from demand, the pandemic has had a significant impact on the supply chain; companies have experienced significant delays in obtaining the raw materials they require. This has made it very difficult for the manufacturers to maintain inventories.
COVID-19's lockdown restrictions, combined with manpower shortage, resulted in a decline in froskolin production, as well as a drop in sales.

Increasing demand of Forskolin

Forskolin is defined as a naturally occurring chemical compound, which is extracted from the roots of the Indian coleus (Coleus forskohlii), a tropical plant related to the mint family. As an herbal compound, Forskolin is used to treat various health complications such as weight management, respiratory disorders, insomnia, digestive disorders, and others. The growing preference for herbal supplements and increasing health consciousness with chemical-free medications among consumers have fuelled the demand for Forskolin in recent years.

Presence and availability of global brands substitute products

In today’s emerging world economies of the world is booming, which provides great chances for global corporations. The global brands have expanded a bee line to the global market to seize a market share in the growing pie. Generally, global brands refer to brands that are widely available and enjoy high levels of recognition across the world which are usually associated with higher quality, greater esteem, and advanced technology. Research has shown that consumers demonstrate stronger preference for global brands than local brands, even if product quality is the same. Global brands usually have an advantage over local brands. When consumers choose Forskolin products of the same specification, they tend to prefer global brands. The invisible advertising brand always makes them feel that global brands are higher than local brands.

Region Overview:

Asia Pacific dominated the Forskolin market in 2021, with a market share of 36.78%.

Company Overview:

Beloor Bayir is one of the major players operating in the Forskolin market, holding a share of 4.7% in 2022.

Beloor Bayir

Beloorbayir is a professionally managed company engaged in the manufacturing & marketing of select Active Pharmaceutical Ingredients, Nutraceutical Ingredients and Botanical Extracts. The company has invested in being a leader in the Nano technology area and most of its future products will be based on this platform redefining dosage forms and bioavailability.

Sabinsa Corporation

Sabinsa Corporation is a manufacturer, supplier and marketer of herbal extracts, cosmeceuticals, minerals, dietary supplements and specialty fine chemicals for the nutritional, cosmetic, pharmaceutical and food industries.

Segmentation Overview:

As for product types, the Medium Concentration (20%-40%) segment held the largest market share in 2021.

Application Overview:

By application, the Weight Management segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Forskolin market covered in Chapter 3:

Bioprex Labs
Sabinsa Corporation
Nutra Green Biotechnology Co. Ltd
Cymbio Pharma Pvt. Ltd.
Flavour trove
Nanjing Spring & Autumn Biological Engineering Co., Ltd.
Beloor Bayir
Alchem International Limited
Varion Lifesciences Pvt. Ltd.
ShangchengBio

In Chapter 4 and Chapter 14.2, on the basis of types, the Forskolin market from 2018 to 2029 is primarily split into:

Low Concentration (10%)
Medium Concentration (20%-40%)
High Concentration (95%)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Forskolin market from 2018 to 2029 covers:

Allergy Treatment
Weight Management
Respiratory Problems
Cardiovascular Disorders
Glaucoma
Hypothyroidism
Psoriasis
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)