Vitex agnus castus, more commonly known as the casteberry has proven to be of vital importance to women’s health. This plant is native to Mediterranean and Central Asia and has been used by the ancient Greeks in traditional medicines for treatment of premenstrual syndrome (PMS), menstrual cycle irregularities and premenstrual dysphoric disorder (PMDD). Furthermore the vitex agnus castus extract is used in combination with other ingredients to maximize these therapeutic benefits.
The astringent property of vitex agnus castus extract has led to the introduction of creams for reducing oil in skin. This is gaining attraction of manufacturers to produce more natural plant extract based cosmetics. The combined effect of these uses are expected to lead the global vitex agnus castus extract market during the forecast period.
Vitex Agnus Castus Extract Global Market Trends and Market Drivers:
Rising awareness among consumers regarding the health benefits of herbal supplements has led to increasing demand in natural products. Moreover increasing number of litigations on certain pharmaceutical drugs has rendered people questioning the safety and efficacy of the pharmaceutical drugs and hence there is a significant shift in use of pharmaceuticals. Consumers are now moving towards a safe alternate which are the herbal medicines.
For the female health and safety concerns the vitex agnus castus extract provides a great alternative to pharmaceutical medicine and is thus expected to fuel the market growth during the forecast period. The vitex agnus castus extract also finds its use in cosmetics, the astringent effect of this extract is slowly gaining popularity as in herbal cosmetic. The blending ability of this extract with other active ingredients is creating new opportunities for new product development is further expected to increase the market growth.
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Vitex Agnus Castus Extract Market Segmentation
Vitex agnus castus extract market is segmented on the basis of nature of product, form, application and by regions. On the basis of nature of product, this extract is segmented on the basis of organic extract and conventional extract. With the less use of harmful chemicals in preparation of organic vitex extract and thus attracting the health conscious consumer, it is expected to gain a high market value share during the forecast period.
The segmentation on the basis of form includes powder and liquid, among these the powder form is expected to maintain a steady growth rate and yield a larger portion in terms of volume attributed to the diversity in use and ease of handling.
On the basis of application, vitex agnus castus extract is segmented into two main segments as herbal supplements and cosmetics. The herbal supplements are further sub-segmented into tablets, capsules and tinctures. The cosmetics comprising of natural ingredients have attracted a significant demand and is expected to continue to grow backed up the consumer’s indulgence.
Middle East and European regions are the major exporters of vitex agnus castus and the prime regions associated with the vitex agnus castus extract market includes; North America, Latin America, Europe and Japan. The high use of herbal extracts in countries such as Germany, U.K., France and other European countries is expected to support market growth in the region. The high acceptance of natural food and products containing natural ingredient in North America and Japan are expected to fuel the market growth of vitex agnus castus extract.
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Some of the key players participating in the global vitex agnus castus extract market are; Naturex S/A, Nutra Green Biotechnology Co., Ltd., Martin Bauer GmbH & Co. KG, Productos Quimicos Gonmisol SA, The Green Labs LLC among others.