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The Yucca extract material market is projected to grow by USD 35.04 million with a CAGR of 7.11% during the forecast period 2021 to 2026.
This yucca extract material market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers yucca extract material market segmentation by type (medical grade, industry grade, and food grade), application (pharmaceutical, functional food, dietary supplements, industry, and personal care), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The yucca extract material market report also offers information on several market vendors, including American Extracts, Baja Yucca Co., Desert King International, Garuda International Inc., Givaudan SA, Heking Biotechnology Co. Ltd, Ingredients by Nature LLC, Newmstar, Plamed Green Science Group, Quimica Alkano, Rainbow Biotech, and Ultra Bio Logics Inc. among others.
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The growing demand for food and beverages with yucca extract materials is notably driving the yucca extract material market growth, although factors such as providing high-quality herbal products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the yucca extract material market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Yucca Extract Material Market Driver
The growing demand for food and beverages with yucca extract materials is one of the key factors driving the yucca extract material market growth. Increased consumer awareness about the adverse side effects of synthetic chemicals used in food and beverages has led to a rise in the demand for natural ingredients such as yucca extracts. Several regulations have been imposed by global health organizations and food safety associations to prohibit the use of artificial flavorings in food and beverages and promote the use of naturally extracted counterparts such as yucca extracts. Thus, the demand for yucca extract-based food and beverages is expected to increase during the forecast period owing to rising health consciousness among consumers and concerns over the adverse side effects of synthetic flavorings used in food and beverages.
Key Yucca Extract Material Market Trend
Immunity-boosting yucca extracts are one of the key yucca extract material market trends fueling the market growth. In 2020, owing to the outbreak of the COVID-19 pandemic, the consumption of healthier food options became an emerging trend among consumers. Since early 2020, there has been a rise in the demand for health and wellness products such as immunity-boosting products, including Yucca extract material products. A wide range of yucca extracts is known to enhance the human body's immunity against diseases. Accelerating consumer demand for yucca products that improve their immunity has led to a rise in product launches that meet this need of consumers. Therefore, the trend of the increased consumption of immunity-boosting yucca products will fuel the market growth during the forecast period.
Key Yucca Extract Material Market Challenge
Providing high-quality herbal products is one of the key factors challenging the yucca extract material market growth. Production and processing activities related to the raw materials used to manufacture herbal extracts have a direct influence on the quality of herbal extracts. For this reason, manufacturers of herbal extract products must follow the guidelines for good manufacturing practices (GMPs). The World Health Organization has guidelines on GMPs for manufacturing herbal medicines. The application of GMPs in the manufacture of herbal products is an essential tool for quality assurance. Apart from quality control, good agricultural and collection practices (GACPs) and good storage practices are also important while manufacturing herbal medicinal products. Such factors may challenge the market growth in the forecast period.
This yucca extract material market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global yucca extract material market as a part of the global packaged foods and meats products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the yucca extract material market during the forecast period.^^^
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the yucca extract material market encompasses successful business strategies deployed by the key vendors. The yucca extract material market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The yucca extract material market report contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the yucca extract material market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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30% of the market’s growth will originate from North America during the forecast period. The US is the key market for the yucca extract material market in North America. Market growth in this region will be slower than the growth of the market in other regions.
Rising consumer awareness of the side effects of allopathic medicines and growing awareness about the medicinal benefits will facilitate the yucca extract material market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020 and 2021, vendors in the regional market faced the negative impact of the COVID-19 pandemic on their business operations. However, in H2 2021, the demand for Yucca extract materials products, including yucca medicinal supplements, yucca personal care products, and yucca food and beverage products in the region, returned to normal as retail outlets, such as grocery stores, convenience stores, hypermarkets, and supermarkets, reopened in the region. This, in turn, will drive market growth in the near future.
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The yucca extract material market share growth by the medical grade segment will be significant during the forecast period. Resveratrol exhibits significant anti-infection action. Nitric oxide (NO), a signaling molecule, is crucial for physiological processes like immunological control and neurotransmission, but too much of it is cytotoxic and causes inflammation. Thus, the increasing adoption of Yucca extract materials in various medical products, especially in health drink products, is boosting the growth of the market in India.
This report provides an accurate prediction of the contribution of all the segments to the growth of the yucca extract material market size and actionable market insights on the post-COVID-19 impact on each segment.
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Yucca Extract Material Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.11% |
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Market growth 2022-2026 |
$35.04 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.63 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 30% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
American Extracts, Baja Yucca Co., Desert King International, Garuda International Inc., Givaudan SA, Heking Biotechnology Co. Ltd, Ingredients by Nature LLC, Newmstar, Plamed Green Science Group, Quimica Alkano, Rainbow Biotech, and Ultra Bio Logics Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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