Passion Flower Extracts Market Analysis Report By Product, By Application And Segment Forecasts From 2019 To 2025

Industry Insights

The global passionflower extracts market size was accounted for USD 2.55 billion, in 2018 and is anticipated to grow at a CAGR of 5.2% over the forecast period of 2019 to 2025. The product contains antioxidant compounds like isovitexin, quercetin, rutin, luteolin glycosides, vitexin, apigenin, and kaempferol, which is going to propel the product demand over the coming years. It also contains the antioxidant compound quercetin that has bioactive effects on the nervous system and helps in its relaxation. These properties of passionflower extract are likely to promote its efficacy to be used as a functional ingredient in manufacturing several products in the personal care, pharma, and food & beverage sectors.

Increasing awareness of consumers with regard to harmful effects due to chemical compounds present in nutraceutical products, food & beverages, and medicines is projected to boost the market growth. According to National Center for Complementary and Integrative Health (NCCIH), U.S., it is safe to use passionflower extract as an ingredient in sleeping pills.

According to World Health Organization (WHO), out of thirteen people, at least one person suffers from an anxiety disorder. It is common in developed countries. About 18% of the U.S. population was suffering from anxiety in 2018. The demand for products with natural anti-anxiety agents is increasing owing to the prevailing disorder, thereby, boosting the market growth.

Humans are aware of about 500 species of the genus Passiflora. The extract of species Passiflora incarnate is expected to witness an upsurge in demand as it can be used to treat insomnia and anxiety. American consumers use extracts of passionflower to treat wounds, earaches, liver diseases, and other disorders. Meanwhile, consumers in Europe use it to get relief from restlessness and agitation. Such varied application of the product is projected to offer lucrative growth opportunities for the market in the upcoming years.

Product Insights

Conventional products dominated the passionflower extract market with over 85% of the market share in 2018. This product variant is easily available and cost-effective. Companies manufacture Passiflora extract-based flavoring agents to be used in making juices, smoothies, and several varieties of icy drinks.

The organic product is anticipated to grow at the fastest CAGR of 6.17% over the forecast period. Increasing concerns towards the effect of harmful chemicals used in the production of conventional products are driving the consumers to prefer organic products, thereby, proliferating the segment growth. These products are eco-friendly as they don’t contaminate the soil and water and help in preserving biodiversity. Jiangcheng Green Banna Ecological Food Co., Ltd., a China-based passion fruit extract producer, manufactures yellow passion fruit concentrated juice that is organic. The company transports its products to New Zealand, Germany, and North African countries.

Application Insights

The application segment of pharmaceutical accounted for USD 1.86 billion of revenue in 2018 and is anticipated to grow at a considerable rate in the forecast period. The increasing demand for medicines to cure insomnia and anxiety is projected to boost the growth of the segment. The product can also be used to treat migraines, alcoholism, and others. Passionflower extract is used to treat asthma, whooping cough, and bronchitis in South America. The different species of passionflower have sedative, tonic, stimulant, anthelmintic, antidiarrheal, and diuretic properties that are pertinent to treat hypertension and menopausal symptoms.

The personal care application segment is anticipated to grow at a CAGR of 8.3% over the forecast period. The product is full of essential fatty acids and vitamins A and C that prove it to be beneficial for the skin. The extract has wonderful moisturizing and hydrating properties and can be used in several anti-aging and anti-wrinkle products.  

Regional Insights

Europe dominated the market with 34.4% of the market share in 2018. European countries have witnessed a spike in cases of insomnia over the last few years. Consequently, European pharmaceutical manufacturers are contemplated towards increasing their spending on manufacturing passion flower-infused products. This factor is anticipated to propel market growth in the upcoming years.

North America is anticipated to grow at the fastest CAGR of 6.3% over the forecast period. The high prevalence of cases of insomnia is projected to propel the product demand in countries like Canada and U.S. TerraVita, Bio Nutrition and ActiveHerb are some of the most popular brands functioning in North America. 

Passion Flower Extracts Market Share Insights

The major players in the industry include Monterey Bay Spice Company, Vitacost, Saw Palmetto Harvesting Company, The Good Scents Company, SBL Global, Indena S.p.A., Naturalin Bio-Resources Co., Ltd, Martin Bauer Group, Alchem International Pvt. Ltd., and Avena Botanicals. The companies majorly concentrate on developing new products to gain a competitive edge. An increasing number of middle-income groups in emerging countries like India and China is anticipated to permit the industry players to set up strategic business units in the territory over the coming eight years.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global passionflower extracts market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Organic
    • Conventional

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Pharmaceutical
    • Nutraceutical
    • Personal Care
    • Food & Beverages

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa