Quillaia Extracts Market (Includes Business Impact of COVID-19)
With the advent of evolution in the food & beverage industry, there is the enormous inclination among manufacturers towards the extracts derived from natural source. Thus naturally derived quillaia extracts market is expected to record significant growth in the recent times. Due to their foaming and emulsifying properties, their primary application is found in food & beverages and cosmetics industry. Quillaia extracts are also significantly used in fragrance and flavours industry for the enhancement of flavours as well as in healthcare sector owing to their prominent health benefits.
With increasing trend towards naturally and organically derived ingredients, plant extracts have gained significant importance in the recent times. Quillaia extracts are derived from aqueous derivation or chromatographic separation of milled inner bark, branches of Quillaia Monlia or from the woods of pruned stems.
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Global Quillaia Extracts Market: Drivers and Restraints
With FDA approval to the quillaia extracts in the food & beverage industry, the market for quillaia is expected to record upwelling growth in the forthcoming years. Quillaia extracts market offers a broad array of application due to its peculiar properties such as stabiliser, foaming agent, emulsifier and flavouring agent. Moreover, quillaia extracts also finds its application in the treatment of bronchitis, skin allergies among others. Quillaia extracts also contribute significantly in the personal care industry, as it encourages hair growth and find its use in hair tonic preparations significantly contributing towards growth of global quillaia extracts market. Moreover, adoption of versatile use of extracts among the manufacturers, provides an opportunistic platform for the manufacturers to invest in the growth of the quillaia extracts market.
However, certain constitutes of quillaia extract have harmful health effects, which may lower the blood calcium level leading to kidney stones. Quillaia extracts are also poorly absorbed when administered orally resulting in serious health consequences. This might restrict the adoption of quillaia extract, thus, hampering the growth of quillaia extracts market. As quillaia extracts market is still in an emerging phase, deficient knowledge among the consumers regarding its applicability may encumber the growth of quillaia extracts market.
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Global Quillaia Extracts Market: Region wise Outlook
The global quillaia extracts market is categorised into seven regions, namely, Western Europe, Eastern Europe Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), , Japan Latin America and, North America. Europe accounts for major share of quillaia extracts market. As manufacturers seek for natural ingredients offerings in their products, due to increase inclination of consumers towards products made from natural ingredients. North America accounts for significant share in the global quillaia extracts market. In Asia Pacific region, India and China are considered to be opportunistic markets for quillaia extracts due to increase in preference of the consumers towards naturally or organically-derived products. As quillaia extracts are approved for human consumption in Japan, its growth is expected to further escalate during the forecast period in this region.
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Global Quillaia Extracts Market: Key Players
Some of the prominent players identified in the global quillaia extracts market includes:
- Garuda International, Inc.
- Naturex S.A
- Ingredion International
- Stan Chem International Ltd
- Desert King International
- Baja Yucca Company
- Chile Botanics S.A