Market Overview:
Garcinia is a fruit, majorly found in India and Southeast Asia. It contains a chemical, hydroxycitric acid (HCA), which is considered as a source to prevent fat storage, control appetite, and increase exercise endurance. It can be extracted into powder and liquid form and is applicable in the food beverage industry, functional foods, and dietary supplements.
Rising consumers’ awareness about garcinia supplements and health advantages associated with it is identified to be increasing the sales of garcinia in the global platform. The growth has been driven by the increased acceptance of natural health supporting ingredients among the consumers. Increasing prevalence of diseases such as obesity has increased the application of garcinia in various industries including in supplements, pharmaceuticals, functional food beverages, and others. Garcinia serves as a source in prevention from factors which leads to obesity and other body weight related disorders. Continuously increasing obesity and other body weight related issues across the globe has turned up an opportunity for supplements, functional food and beverage industry to include garcinia in their products, which is driving the growth of the global garcinia market. Garcinia helps in reducing and managing body weight and prevents conditions like obesity and unnecessary body fat deposition.
Increasing health conscious population and inclination of consumers towards food supplements is boosting the growth of garcinia market. Moreover, continuous increase in health issues among the growing population has created opportunity for the players in garcinia market to enter into the market and generate revenue. However, stringent government laws and regulations for application of garcinia in the products may hamper the growth of the market.
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Major Key Players Review:
With the entry of new industrial players in the weight loss products, established players are continuously involved in product improvisations and constantly keep adding new products to their offerings. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing in terms of quality and creating product differentiation to gain consumers attention. The best long-term growth opportunities for this sector can be captured by ensuring ongoing RD investments in the optimal strategies.
With strategic expansions, market players can focus on penetrating into the developing economies to expand their business portfolio. Consumers in developing countries are keen on exploring new product range offered to them and form a large consumer base. Establishing market in these emerging economies is profitable based on relatively low set-up costs, ease of doing business, and further lower variable cost to be incurred.
The key players profiled in Garcinia are Hunan Nutramax Inc. (China), Hunan Huacheng Biotech Inc. (China), Guangdong Hybribio Biotech Co., Ltd. (Hong Kong), Nuvaria Ingredients (U.S.), Ambe Phytoextracts Private Ltd. (India), Indfrag Limited (India), Honson Pharmatech Group Ltd. (Canada), Xi’an Lyphar Biotech Co., Ltd. (China), Sia Fruits Serviss, and Zeon Health UK Ltd. (U.K)
Latest Industry Updates:
May 2017 TLS Weight Loss Solution has launched two of the hottest ingredients for weight loss in the name of Green Coffee Bean Extract and Garcinia Cambogia. Green Coffee Extract, is the most clinically researched brand of green coffee bean extract, which has been shown superior to its competitors in promoting healthy weight management and helping to maintain normal blood sugar levels.
Dec 2016 Pure Nutrition has launched its flagship e-commerce portal in Dubai with a bid to explore the natural formulations market with its expanded range of products including Garcinia for weight management.
Nov 2016 Garcinia Cambogia Fusion Burn Fat Burner has been officially launched on Amazon.com. The product is enhanced with weight-loss formula which is natural, safe, and sustainable
Market Segments:
The Global Garcinia Market has been divided into Form, Application and Region.
On the Basis of Form: Powder, Liquid, and Others
On the Basis of Application: Foods Beverages, Functional Foods Dietary Supplements and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
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Regional Analysis:
Garcinia Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Asia Pacific region is dominating the market followed by Europe. Indonesia is the major producer of garcinia in the global market. Inclination towards body weight management among the consumers is driving the garcinia market in the Europe. Furthermore, Asia Pacific is witnessed to be the fastest growing region over the forecast period. Increasing obese population and growing health awareness in developing countries like India and China is boosting the growth of Asia Pacific market. Furthermore, rising demand for natural products in U.S. is likely to attract players to penetrate the North American market and increase the sales of their product.
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