Yucca Extract Material Market Outlook
According to a new report by Expert Market Research titled, “Global Yucca Extract Material Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028″, the yucca extract material market reached a value of USD 89.2 million in 2022. Aided by increasing utilisation in skin and personal care products and rising awareness regarding health benefits associated with yucca extract material, the market is projected to further grow at a CAGR of 6.50% between 2023 and 2028 to reach a value of USD 129.03 million by 2028.
Yucca, primarily found in the arid parts of North and Central America, is a genus of perennial shrubs and trees known for its remarkable properties. The yucca extract, derived from the plant, has been traditionally used by Native American tribes for various medicinal purposes. In contemporary times, it is garnering attention as a crucial ingredient in the food and beverage sector, dietary supplements, and increasingly in agriculture as a natural pesticide.
The surge in demand for natural food additives is a significant driving force behind the global yucca extract material market growth. As consumers worldwide become more health-conscious and wary of synthetic additives, the appeal of natural ingredients like yucca extract is on the rise. Moreover, its benefits such as aiding digestion and reducing cholesterol are further propelling its incorporation into dietary supplements.
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Another avenue where yucca extract is witnessing a spike in demand is the agricultural sector. Recognised for its role as a natural wetting agent, yucca extract is used to improve soil infiltration, helping water reach plant roots more effectively. Its saponin content, which has natural pesticidal properties, also makes it an environmentally friendly alternative to chemical pesticides, in line with the increasing global emphasis on sustainable farming practices.
Furthermore, the cosmetics industry is tapping into the potential of yucca extract. Due to its natural foaming and skin-soothing properties, it’s becoming a popular ingredient in skincare and haircare formulations. The trend of natural and organic cosmetics, gaining momentum globally, is expected to further stimulate the yucca extract material market demand.
The beverage industry, particularly the segment focusing on health and wellness drinks, is another domain which is driving the market all around the world. Its antioxidant properties, coupled with its potential to enhance the overall flavour profile of beverages by reducing bitterness, make it a sought-after ingredient in this sector.
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However, the yucca extract material market expansion isn’t solely propelled by its multifaceted applications. Increased research and development activities, coupled with advancements in extraction techniques, have optimised the yield and purity of yucca extracts. These technological strides have made it more accessible and efficient for industries to incorporate yucca extract into their products.
Yucca Extract Material Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Medical Grade
- Food Grade
- Industry Grade
Market Breakup by Application
- Functional Food
- Pharmaceutical
- Dietary Supplements
- Personal Care
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global yucca extract material companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- NATUREX SA
- Baja Yucca Company
- Avitech Nutrition Pvt. Ltd.
- Garuda International, Inc.
- American Extracts
- Desert King International
- Ingredients By Nature
- Others
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