TMR Research has recently come up with a new research report that provides a detailed information about the overall working dynamics of the global pine bark extract market. The research report tries to shed light on the key segments of the global market, the competitive landscape, and the general geographical outlook of the pine bark extract market for the given course of the forecast period ranging from 2019 to 2029.
As per market analyst, the global pine bark extract market is highly fragmented in nature due to presence of both regional and international players. Thus, competition level is highly intense. Pioneers of the market undertaking strategies to strengthen their foothold in the global market and diversifying their product range. Besides diversifying the product portfolio, the companies are working to improve the product quality in order to gain customer traction in the market.
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Above mentioned factors are leading to new growth opportunities for expansion of the pine extract market during the forecast period.
On the other hand, rising awareness regarding benefits of pine bark extracts among consumers is boosting demand for pine bark extract. Pine bark extract has wide application array in health sector. For example, it improves athletic performances, mental functioning, eye diseases, circulation problems, and cures allergies and asthma.
This, in turn, is supporting growth of the global pine bark extract market.
Some of the key companies operating in the global pine bark extract market are Herblink Biotech, NEW JAPAN FUNCTIONAL FOODS, Xian Sost Biotech, Source Naturals, Hunan Kangshou Pharmaceutical, Sciyu Biotech, Wellgreen Technology, and Shanghai Freemen.
In recent time, the global pine bark extract market has been witnessing substantial growth in the demand rate. Growing demand rate is attributed to growing application of pine bark in various sectors including bio-pharmaceutical. Registering the demand rate, the companies operating in the global market are focusing on enhancing their production capabilities. This step is, further, helping these companies to meet the demand of the end-user industries. As a result, the players in the global pine bark extract market are likely to observe exponential growth in terms of revenue during the forecast period.
Growing Demand for Health Supplements in North America Boosts Regional Pine Bark Extract Market
On regional segment, the global pine bark extract market is divided in North America, Europe, Asia Pacific, and Latin America. Among all the regional market, North America and Western European market hold significant share in the global pine bark extract market. This is due to high level of commercialization of dietary and health supplements in these regions.
In addition, manufacturing companies are making healthy usage of pine bark extract across the globe.
For instance, Bremen Botanicals- one of the key companies in the global pine bark extract market, has launched an anti-aging cream in the year 2017; wherein pine bark extract is the primary constituent of the product.
On the other hand, escalating production of pine bark extract powder in China is fuelling the pine bark extract market in Asia Pacific.
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Healthcare Segment Present Lucrative Growth Opportunities to Global Pine Extract Market
Besides healthcare, the pine bark extract is widely used in food and feed additives, cosmetics, skin care, and pharmaceuticals.
Among all the end-user industries, healthcare segment is anticipated to hold prominent position in the global pine bark extract market. Increased application of pine bark extract in healthcare is ascribed to its anti-oxidant property. Besides, the extract also helps in boosting brain functions, regulating sugar levels, and treats erectile dysfunction. All these factors are triggering the growth of the global pine bark extract market.