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Alkanet Root Powder Market Growth Forecast during 2020-2029
3/15/2022
Alkanet Root Powder Market Outlook
The cosmetic industry has grown in rapidly in past few years and is expected to grow at a steady rate in near future with the increase in demand of cosmetic and personal care products with natural and organic ingredients. With the changing lifestyle and increase in awareness about the use of natural products over synthetic product, there is a rise in the use of products made from natural products. This brings the attention of manufacturers to natural products like Alkanet root powder in final product processing. Alkanet root powder is produced from roots of Alkanna tinctoria and is grown majorly in the South European region. Traditionally, alkanet root powder is fine red in color and used as a dyeing agent in cosmetic industry and coloring agent in food industry. In Indian Market alkanet root powder is known as “Ratan Jot” and is utilized for coloring curries. Alkanet root is widely used in the Australian market as food coloring agent, but is banned for consumption in European Union region. With day by day increase in the application of alkanet root powder in various industries, increase in market demand for alkanet root powder is anticipated in the forecast period.
Growing demand for Alkanet Root Powder in multiple industries
The increase in beauty conscious customers and tendency of consumers to leading healthy lifestyle choices is creating a greater market for cosmetic and food industries utilizing natural ingredients in their products. Alkanet root is an important natural component that imparts ruby red color to several cosmetic products like soaps, lotions, etc. Some companies use alkanet root powder as coloring agent during manufacturing of lipsticks and rouge as well. There is an increase in the use of alkanet root powder in food and beverages industry. These days alkanet root powder is used to enhance the color of the low-quality wine. Being a natural ingredient, alkanet root powder is used in the manufacturing of vinegar and varnishes. The application of crude alkanet root powder in the pharma industry is limited despite of its great medicinal properties due to the presence of hazardous chemicals, hepatotoxic pyrrolizidine alkaloids (PAs) which causes liver damage. However, alkanet root powder and oil are being used by the local people of India to treat diarrhea and gastric ulcers. Development of hepatotoxic PAs free alkanet root powder has derived attention of researchers in pharma industry to utilize its anti-inflammatory and anti-oxidant activity as well as wound healing activity. Overviewing these factors the market for alkanet root powder tends to grow in near future.
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Global Alkanet Root Powder Market: Key Players
The market for Alkanet Root Powder tends to be increasing day by day, some of the leading key players in market are Mountain Rose Herbs, Raven Moonlight Herbs, Bramble Berry Inc., Natural Pigments Inc., Nutri Herbs, Organic Creations Inc., Mangalore Spices, Phitofilos, Monterey Bay Spice Company, etc. Increase in market opportunities of attracting more companies towards alkanet root powder.
Opportunities for market participants:
Increase in the number of customers demanding cosmetics and food products from natural ingredients is creating a scope for alkanet producers. The pharmaceutical industry has wider opportunities to develop products utilizing medicinal properties of hepatotoxic free alkanet root powder. European Market is top in production as well as consumption of alkanet root powder in the cosmetic industry. The approach of producers in using alkanet root powder in the production of natural blush, balms, etc. in different colors is increasing day by day. Looking and demand and supply scenario, it looks clear that there are greater market opportunities for alkanet root powder in near future.
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Global Alkanet Root Powder: A Regional Outlook
Europe Market is currently leading and expected to remain largest in the cosmetic industry for alkanet root powder due to large production. The Asia Pacific and American Market follows seems to have a good market with an increase in demand for natural products in food and cosmetic industries. Australia and New Zealand are supposed to good markets for alkanet root powder in the food industry. Market demand for alkanet root powder in the pharma industry is expected to increase most part of the world with the increase in development of hepatotoxic free Pas alkanet root powder. The increase in use and demand for products made from alkanet root powder, the growth in the market of alkanet root powder is expected to increase positively in the forecast period.
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