Quillaia Extracts Market Share, Size, Trends, Industry Analysis Report, By Application (Food & beverage, Personal care, Pharmaceuticals, Others); By Product Type (Powder, Liquid); By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 101
- Format: PDF
- Report ID: PM2034
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Summary
The global quillaia extracts market was valued at USD 672.1 million in 2020 and is expected to grow at a CAGR of 5.1% during forecast period. The surging demand for processed food across the globe is fueling the market for food additives and processing agents such as quillaia extracts. The growing preference for the product over synthetic agents as a foaming and emulsifying agent in food processing is one of the key drivers inducing market growth for quillaia extracts. The FDA has approved the use of the product in food & beverage processing, which is expected to boost the market growth in the coming years. Furthermore, increasing use of such extracts among the manufacturers offers an ideal platform for the companies to invest in the growing market.
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Quillaia is used in food industries as they are known to enhance the flavor of the beverages and are also known for their cholesterol reduction that may help in reducing obesity. Hence, they find applications in a wide variety of foods such as beaked foods, gelatins, frozen dairy products, puddings, and candy. They are also used in root bears as a foaming agent. All these factors are expected to significantly contribute to the growth of the global market during the forecast period. The emergence of COVID-19 is expected to hinder global growth due to the disruption of the supply chain of quillaia extracts as a raw material. The situation is expected to normalize in the coming months, after which the market is expected to witness an upward growth trajectory.
Industry Dynamics
Growth Drivers
The global market is driven by its increasing application in many industries that include using it as emulsifiers in food and foaming agents in beverage industries. The rising awareness for healthy food extracts as well as the use of the product in cosmetics industry and pharmaceutical industry owing to its many health benefits are expected to propel the growth of the global quillaia extracts industry in the coming years. Quillaia extracts also has many medical applications, and for many years it has been used as a traditional medicine to treat conditions such as bronchitis and cough. It is also efficient in addressing the dandruff problem and scalp itchiness. Quillaia extracts are rich in tannins and saponins, and tannins can thin mucous hence they are very efficient in treating cough. Saponins have many anti-microbial properties, and they can inhibit the growth of fungi, viruses, and bacteria from attaching healthy cells and thereby preventing infection.
Quillaia stimulates the immune system when integrated with vaccines, and hence they are also used as an adjuvant in vaccine development. Saponins extracted from quillaia interact with dietary fat in the stomach, and it prevents the fat from moving to other organs or to the blood and thereby lowering blood fat in the body. All these factors augment the growth of the global quillaia extracts market. Quillaia extracts also have many applications across a wide range of industries, and for instance, it is used in the cosmetic market where the product is key ingredient in some of the skin creams. Its foaming property is also used in the development of fire extinguishers. All these emerging applications will provide an opportunity for the quillaia extracts industry to grow in the coming years. Many new developments have taken place in the global quillaia extracts market in recent years. For instance, in January 2019, Chobani launched a plant-based dairy-free product line that contains coconut blends, quillaia extracts, and tapioca flour as key ingredients.
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Report Segmentation
The market is primarily segmented on the basis of application, product, and region.
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By Application |
By Product |
By Region |
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Insight by Application
The food & beverage segment dominated the quillaia extracts industry and generated the highest revenue in 2020, owing to the increasing adoption of the product as a natural and effective emulsifying and foaming ingredient. The potential application of the product in the food & beverage market with the FDA approval will further drive the growth of the quillaia extracts industry. In addition, the product is a water-soluble foaming component that aids in maintaining flavor, temperature, and shelf stability, all of which will fuel its application.
The personal care segment is projected to have a high growth rate as they promote hair growth and are used in hair tonic preparations, all of which contribute to the growth of the global market. The ongoing research and development in the personal care industry will further boost the segment's growth.
Insight by Product
The powder form segment dominated the market and generated the highest revenue in 2020. As powder form is moisture-free, it improves the flavor and life span of finished products. It is simple to use and mixes well with other components. All these factors led to the increased usage of the powder form of quillaia extracts.
The liquid form segment is anticipated to have a high growth rate as it is smooth and texture less, making it ideal for use in sauces and curries. The surge in beverage consumption, as well as the widespread use of liquid quillaia extracts for beverage and other liquid manufacture owing to its high solubility, is expected to boost the expansion of the segment.
Geographic Overview
Asia Pacific dominated the market and generated the highest revenue in 2020, owing to the increasing preference for the natural ingredients in food & beverage products in the region. South Korea and New Zealand are the leading consumers of quillaia extracts on the globe. In addition, the rising health consciousness among consumers as well as increased demand for processed foods from countries such as India and China are fueling the market growth in the region.
North America and Europe are expected to significantly contribute to the growth of the global market. In countries like the U.S., FDA has approved the use of quillaia extracts in food & beverage processing. Quillaia extracts is used in the preparation of beers, and increasing consumption of beers in these regions has led to the high demand of the market. The constant advancement and R&D pertaining to organic ingredients and their use in various industries are primary factors fueling regional growth.
Competitive Landscape
Major players in the market are investing heavily in research and development to increase the application of the product in various different industries. Companies are launching new products and are looking into partnerships and acquisitions to increase their foothold in the market.
Some of the major players operating in the quillaia extracts market include, Adams Food Ingredients Ltd. Alesco S.r.l, Baja Yucca, BioFlora, LLC, Inc., Celtic Sea Minerals, Chile Botanics, Desert King, Garuda International Inc., Givaudan SA, Humates and Seaweeds Pvt Ltd, Ingredion, InovoBiologic Inc., Marigot Ltd., Maxicrop USA, Naturex, Stan Chem International.
Quillaia Extracts Market Report Scope
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Report Attributes |
Details |
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Market size value in 2020 |
USD 672.1 Million |
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Revenue forecast in 2028 |
USD 881.6 Million |
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CAGR |
5.1% from 2021 - 2028 |
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Base year |
2020 |
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Historical data |
2016 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Segments covered |
By Application, By Product, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Adams Food Ingredients Ltd. Alesco S.r.l, Baja Yucca, BioFlora, LLC, Inc., Celtic Sea Minerals, Chile Botanics, Desert King, Garuda International Inc., Givaudan SA, Humates and Seaweeds Pvt Ltd, Ingredion, InovoBiologic Inc., Marigot Ltd., Maxicrop USA, Naturex, Stan Chem International |
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