USD 492.84 million
Forskolin Market Size, Share, Growth Analysis, By Product Type(Synthetic Forskolin and Natural Forskolin), By Application(Pharmaceuticals, Nutraceuticals, Cosmetics, and Food and Beverage), By Distribution Channel(Online Retailing, Supermarkets/Hypermarkets, Health and Wellness Stores, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2123 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|Tables:
90
|Figures:
76
Forskolin Market Insights
Global Forskolin Market size was valued at USD 492.84 million in 2022 and is poised to grow from USD 531.28 million in 2023 to USD 968.89 million by 2031, growing at a CAGR of 7.8% during the forecast period (2024-2031).
Forskolin is believed to work by increasing levels of cyclic AMP, a signaling molecule that regulates various cellular processes, including those involved in metabolism and inflammation. As a result, forskolin supplements are marketed as weight loss aids and as treatments for conditions such as asthma, eczema, and psoriasis. However, more research is needed to fully understand the potential benefits and risks of using forskolin as a dietary supplement or medication. Its effectiveness in Ayurvedic practices has led to its incorporation in allopathic medicine. Different levels of purity of the extract have specific applications, with lower purities used in dietary supplements, medium purities in food and beverages, and higher purities in cosmetic products. As global concerns for health and fitness grow, there is a higher demand for herbal and Ayurvedic products, leading to increased growth in the pharmaceutical and cosmetic markets. Consumers also seek assurances for food quality and security, prompting producers and manufacturers to incorporate traditional herbal materials instead of laboratory-based chemicals in the manufacturing process of medicines, cosmetics, and food and beverages.
Increasing use of forskolin in the treatment of cardiovascular diseases, respiratory disorders, and skin conditions are key factors driving the growth of the market. According to report, in North America, the United States is the dominant market for forskolin, accounting for over 90% of the market share. The market in Canada is relatively small but is expected to grow at a significant rate over the coming years. The growth in the North American market is attributed to the increasing popularity of natural and herbal supplements and the rising prevalence of obesity and related health issues. In APAC, India is the leading market for forskolin, followed by China and Japan. Other countries in the region, such as South Korea, Singapore, and Malaysia, also have growing markets for forskolin. The demand for forskolin in APAC is driven by the region's rich history of traditional medicine and the increasing adoption of natural and herbal remedies in modern healthcare practices. Study published in the Journal of International Society of Sports Nutrition found that forskolin supplementation may help improve body composition and increase testosterone levels in overweight and obese men. Another study published in the Journal of Alternative and Complementary Medicine suggested that forskolin may have potential as a complementary therapy for asthma. While more research is needed to fully understand the potential benefits and risks of forskolin, these studies indicate that it may have promise as a natural remedy for certain health conditions.
US Forskolin Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Synthetic Forskolin
Fastest Growth
Synthetic Forskolin
Growth Rate
7.8% CAGR
Global Forskolin Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Forskolin Market Segmental Analysis
Global Forskolin market is segmented by product type, application, and distribution channel. Based on product type, the Forskolin Market can be segmented into synthetic forskolin, and natural forskolin. Based on application, the market can be segmented into pharmaceuticals, nutraceuticals, cosmetics, and food and beverage. Based on distribution channel, the Forskolin Market can be segmented into online retailing, supermarkets/hypermarkets, health and wellness stores, and others. Based on region, the Forskolin Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Forskolin Market Analysis by Product Type
By product type, the market can be segmented into synthetic forskolin, and natural forskolin. The synthetic forskolin segment dominated the global market due to its widespread use in the pharmaceutical industry. Synthetic forskolin is primarily used as a drug to treat various medical conditions such as cardiovascular diseases, asthma, and allergies. The increasing prevalence of chronic diseases, coupled with the growing demand for effective treatments, is driving the growth of the synthetic forskolin segment.
On the other hand, the natural forskolin segment is expected to witness considerable growth due to its use in the production of supplements, cosmetics, and food products. Natural forskolin is widely used as a dietary supplement and health product due to its potential health benefits such as weight loss, improved digestion, and reduced inflammation. The increasing awareness among consumers about the benefits of natural products and the growing trend of health and wellness is driving the demand for natural forskolin-based products.
Forskolin Market Analysis by Application
By application, the market can be segmented into pharmaceuticals, nutraceuticals, cosmetics, and food and beverage. The pharmaceuticals segment dominated the global market. It has potential as a natural remedy for certain conditions, including hypertension, cardiovascular diseases, and respiratory disorders. Forskolin's ability to increase the production of cyclic AMP, a signaling molecule that regulates various cellular processes, is believed to be the mechanism behind its therapeutic effects. The pharmaceutical segment is expected to continue to dominate the market due to increasing research into the health benefits of forskolin.
The nutraceutical segment of the forskolin market is growing rapidly due to the increasing demand for natural and herbal supplements. Forskolin supplements are marketed as weight loss aids and as treatments for conditions such as eczema and psoriasis. The increasing prevalence of obesity and related health issues is driving the demand for weight loss supplements. Forskolin's ability to increase cellular levels of cyclic AMP is believed to aid in the breakdown of stored fat. The nutraceutical segment is expected to continue to see significant growth in the coming years due to the increasing consumer preference for natural and herbal supplements.
Global Forskolin Market By Product Type, 2021 (%)
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Forskolin Market Regional Insights
North America dominated the global market, with the United States being the dominant country in the region. The high prevalence of chronic diseases, such as obesity and cardiovascular diseases, in North America has led to an increasing demand for natural remedies like forskolin. The growing awareness about the potential health benefits of herbal supplements and the increasing preference for natural and organic products have further contributed to the growth of the forskolin market in North America. The pharmaceutical segment is expected to dominate the North American forskolin market due to the significant investment in research and development by major pharmaceutical companies in the region. The United States is home to some of the world's leading pharmaceutical companies, such as Pfizer and Merck & Co., which have recognized the potential of forskolin as a natural remedy for certain health conditions. The nutraceutical segment is also expected to see significant growth in North America due to the increasing demand for natural and herbal supplements. The United States is the largest market for dietary supplements globally, and the trend towards natural and herbal supplements is expected to continue to drive demand for forskolin supplements in the region.
The Asia Pacific (APAC) is one of the fastest-growing markets for forskolin due to its large population and increasing demand for natural and herbal remedies. The region is home to several countries with significant traditional medicine practices, such as India and China, where forskolin has been used for centuries to treat various health conditions. The increasing prevalence of lifestyle diseases, such as obesity and diabetes, is also driving the demand for natural remedies such as forskolin. India is one of the fastest-growing markets for forskolin in the APAC region due to the country's significant traditional medicine practices. Ayurveda, a system of traditional medicine practiced in India, has recognized the potential of forskolin as a natural remedy for various health conditions. The increasing consumer awareness of the potential health benefits of natural and herbal remedies is driving the demand for forskolin in India. China is another significant market for forskolin in the APAC region due to the country's large population and increasing demand for natural and herbal remedies. Traditional Chinese medicine has recognized the potential of forskolin as a natural remedy for various health conditions, including cardiovascular diseases and respiratory disorders. The increasing prevalence of lifestyle diseases in China, such as obesity and diabetes, is driving the demand for natural remedies such as forskolin.
Global Forskolin Market By Geography, 2021-2030
- Largest
- Fastest
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Forskolin Market Dynamics
Forskolin Market Drivers
Increasing demand for natural supplements and health products
- One major driver of the Forskolin market is the increasing demand for natural supplements and health products. Forskolin is a natural supplement that is derived from the root of the Coleus forskohlii plant and has been used for centuries in traditional medicine to treat various ailments. With the growing awareness of the health benefits of natural supplements and the increasing concern over the side effects of synthetic drugs, the demand for Forskolin supplements is expected to increase. Moreover, the rising prevalence of chronic diseases such as obesity and cardiovascular diseases is also driving the demand for Forskolin products as they are considered safe and effective in managing these conditions.
Forskolin Market Restraints
Lack of regulation and standardization
- One potential restraint of the Forskolin market is the lack of regulation and standardization in the production and distribution of Forskolin products. Due to the increasing demand for natural health supplements, there has been a proliferation of Forskolin products in the market, some of which may not meet the required quality and safety standards. This can lead to consumers purchasing products that are ineffective or even harmful to their health. Lack of regulation and standardization also leads to inconsistencies in the potency and purity of Forskolin products, which can result in variations in the therapeutic benefits of the product.
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Forskolin Market Competitive Landscape
The competitive landscape of the forskolin market is characterized by the presence of several players operating in the market. These players are focusing on expanding their product portfolio and increasing their market share through strategies such as mergers and acquisitions, partnerships, and collaborations.Also, new competitors are entering the market, which is escalating the level of competition. Additionally, the players in the market are investing in research and development activities to develop new and innovative products that cater to the evolving consumer demands. The competitive landscape of the forskolin market is expected to remain highly competitive in the coming years as the demand for natural and herbal remedies continues to grow.
Forskolin Market Top Player’s Company Profiles
- Sabinsa Corporation
- Indena S.p.A.
- TCI America
- ChromaDex, Inc.
- Shaanxi Green Bio-Engineering Co., Ltd.
- Biosynthesis Inc.
- Xi'an Natural Field Bio-Technique Co., Ltd.
- LGM Pharma
- Cayman Chemical Company
- Alchem International Ltd.
- Hunan Nutramax Inc.
- Bio-gen Extracts Pvt. Ltd.
- Sigma-Aldrich Corporation
- Acumen Pharmaceuticals, Inc.
- Sigma-Aldrich Corporation
- Indofine Chemical Company, Inc.
- LKT Laboratories, Inc.
- Changsha Staherb Natural Ingredients Co., Ltd.
- MediHerb Pty Ltd.
- Nutra Green Biotechnology Co., Ltd.
Forskolin Market Recent Developments
- In March 2023, Sanofi S.A. is set to launch its new forskolin-based drug called Eurekaflox, which has shown promising results in clinical trials for the treatment of asthma and other respiratory diseases.
- In January 2022, Sabinsa Corporation announced the launch of its new forskolin extract called ForsLean 95%, which is designed to support healthy weight management and boost metabolism.
- In September 2021, HERBLIFE NUTRITION launched its new herbal supplement called Herbalife SKIN Clearify Acne Kit, which contains forskolin as one of its key ingredients, and is designed to support healthy skin.
- In August 2021, NutraBio Labs announced the launch of its new forskolin supplement called Forskolin 250, which is designed to support healthy weight management and improve overall health.
Forskolin Key Market Trends
- One of the key market trends in the forskolin market is the increasing demand for natural and herbal remedies. Consumers are becoming more health-conscious and are looking for natural alternatives to synthetic chemicals. Forskolin, being a natural herbal extract, is gaining popularity among consumers who are seeking natural remedies for various health conditions. The increasing prevalence of lifestyle diseases such as obesity and diabetes is also driving the demand for natural remedies such as forskolin. The market is also witnessing the entry of new players, which is intensifying the competition and leading to innovation and development of new and innovative products.
Forskolin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global forskolin market analysis, the market is experiencing significant growth due to the increasing demand for natural and herbal remedies among health-conscious consumers. Forskolin, a natural herbal extract, has gained popularity as a potential weight loss supplement, and is also used in the treatment of other health conditions such as asthma, allergies, and cardiovascular diseases. The pharmaceuticals segment is expected to dominate the market due to the increasing prevalence of lifestyle diseases such as obesity and diabetes. The market is also witnessing rapid growth in the APAC region, particularly in countries such as China and India.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 492.84 million |
| Market size value in 2031 | USD 968.89 million |
| Growth Rate | 7.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Forskolin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Forskolin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Forskolin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Forskolin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Forskolin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Forskolin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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