Report ID: SQMIG30I2339
Report ID:
SQMIG30I2339 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
63 |
Figures:
70
North America held a prominent position in the hibiscus flower powder market, contributing to more than 34.5% of the global revenue share in 2022. The region's robust market dominance is attributed to substantial demand from various industries, with the food and beverage sector taking the lead, followed by pharmaceutical and personal care applications. The United States and Canada stand out as significant importers of organic products. Ongoing innovations in the medical field, where natural ingredients are increasingly sought for drug manufacturing, are anticipated to create new growth opportunities. As consumer awareness about the benefits of hibiscus flower powder continues to rise, consumption of the product is expected to witness an upswing in the forthcoming years.
Meanwhile, Asia Pacific is poised to emerge as a crucial manufacturing hub for hibiscus flower powder. The presence of extensive cultivation lands in developing countries, combined with favorable climatic conditions for hibiscus cultivation, is projected to drive the market's growth in this region. Rapid population growth, a rising number of working women, and increasing consumer expenditure on personal care products in the Asia Pacific region are factors that are expected to create new market avenues for the product. Additionally, the burgeoning food and beverage processing industry in the region is likely to further boost the demand for hibiscus flower powder over the forecast period.
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Report ID: SQMIG30I2339