Lovage Extract Market Expected to Reach $115 Million by 2030, Growing at a CAGR of 4.9%

According to a new report published by MarkWide Research, titled, “Lovage Extract Market,” the global lovage extract market is expected to experience steady growth in the coming years. This comprehensive report provides a detailed analysis of the current market scenario, trends, key players, and future prospects in the lovage extract industry.

Lovage extract is known for its culinary and medicinal uses, contributing to the growth of the food and herbal supplements sectors.

Key Highlights from the Report:

1. Culinary Applications: Lovage extract is used as a culinary herb and flavoring agent in various dishes.

2. Medicinal Benefits: It is valued for its potential health benefits, including digestive and respiratory support.

3. Herbal Supplements: Lovage extract is utilized in herbal supplements and traditional medicine.

4. Global Awareness: Growing awareness of herbal remedies drives market growth.

Market Forecast:

MarkWide Research projects that the global lovage extract market will grow at a CAGR of 4.9% from 2023 to 2030, reaching a value of $115 million by 2030. This growth is attributed to the increasing consumer interest in herbal and natural remedies.

Segmentation:

The report provides a detailed segmentation of the lovage extract market based on form, application, distribution channel, and region.

By Form:

1. Liquid Extract
2. Powder Extract

By Application:

1. Food and Beverages
2. Herbal Supplements
3. Pharmaceuticals
4. Others

By Distribution Channel:

1. Online Retail
2. Offline Retail

By Region:

1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East & Africa

Competitive Landscape:

The report offers an extensive analysis of the competitive landscape, highlighting key players in the lovage extract market. It covers their product offerings, market presence, and strategic initiatives.

Conclusion:

The global lovage extract market is expected to witness steady growth, driven by the increasing demand for herbal and natural remedies. Manufacturers and suppliers in this market play a significant role in meeting consumer preferences for alternative healthcare options.