Global Asafoetida Market 2019-2023

The global asafoetida market size will grow by USD 54 million during 2019-2023. This report provides an analysis of the market based on product segmentation (milky white asafetida and red asafoetida) and geography (the Americas, APAC, and EMEA). The report also provides an analysis of the market’s competitive landscape and offers information on several companies including DS Group, Everest Masala, Laljee Godhoo, Ramdev, and Vandevi.

Below are some of the key highlights from the asfoetida market analysis

Global Asafoetida Industry Overview

The several health benefits of asafoetida are expected to drive the market's growth during the forecast period. The consumption of asafetida is high among consumers as it prevents stomach disorders such as bloating, gas, indigestion, irritable bowel syndrome (IBS), and acidity. It helps in restoring the normal Ph levels in the stomach and flushes out the toxins from the digestive tract through its anti-inflammatory properties. It also treats various respiratory syndromes such as bronchitis, asthma, and dry cough. Commonly known as Hing, asafetida is widely used in many Indian dishes and traditional Indian medicinal systems such as Ayurveda. For cooking purposes, it is available in two forms, which are the pure state, or it is mixed with turmeric to reduce pungency. It is an appetizing food enhancer and is mostly used with turmeric, which is a staple Indian spice. Consequently, owing to the several advantages of asafoetida, the demand is expected to rise considerably during the next few years, resulting in the market to register a CAGR of nearly 6% by 2023.

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Top companies in the asafoetida market

The asafoetida market is fragmented due to the presence of several companies. By offering a complete analysis of the market's competitive landscape and with information on the products offered by these companies, this asafoetida industry analysis will help clients identify new growth opportunities and design new growth strategies.

The report offers a complete analysis of a number of companies, including:

• DS Group
• Everest Masala
• Laljee Godhoo
• Ramdev
• Vandevi

Asafoetida market segmentation based on geographic region

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for companies across the Americas, APAC, and EMEA, our industry research analysts have found that the APAC region accounted for the largest share of the market during 2018.

Asafoetida market segmentation based on product

• Milky white asafetida
• Red asafoetida

According to our market research experts, the milky white asafetida segment accounted for the highest market share in 2018. This report provides a detailed analysis of the contribution of both the product segments to the growth of the asafoetida market size.

Key highlights of the global asafoetida market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the asafoetida market during the next five years
• Precise estimation of the global asafoetida market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the asafoetida industry across the Americas, APAC, and EMEA
• A thorough analysis of the market's competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of asafoetida companies

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