Ginkgo is the common name of Ginkgo biloba, and it comes under the family of Ginkgoaceae. It is the only living class in the division Ginkgophyta. Ginkgo is usually found in the native parts of Asia, which includes China, Korea and Japan. It’s also been cultivated in the United States as well as in Europe. For many years, it’s been used as a source of food as well as traditional medicine. The extract of Ginkgo biloba is promoted as a dietary supplement. Ginkgo biloba extract is often used for disorders like Alzheimer’s disease, etc. Gingko biloba extract is also very beneficial to tackle disorders like depression and Lyme disease. The extract of Ginkgo biloba leaf is recognized as EGb 761. Ginkgo biloba extract comprises 5-7% terpene lactones and 22-27% of flavonoid glycosides. Research has shown that EGb 761 is capable of preventing the spread of human cancer cells.
Global Ginkgo Biloba Extract Market is projected to reach US$ 2,379.2 Mn by 2030 from US$ 1,710.5 Mn in 2020 at a CAGR of 4.1% The first five-year cumulative revenue (2020–2024) is projected to be over US$ 1,867.5 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Global Ginkgo biloba Extract Market: Market Dynamics
Increasing awareness regarding medicinal uses of Ginkgo biloba extract. It is helpful for treating asthma, bronchitis, central nervous system disorders, and others. The capsule form of Ginkgo biloba extract is widely used. Ginkgo biloba has properties such as anti-cancer and antioxidant, and it has the ability to regulate high blood pressure. These are the factors expected to augment market growth during the forecast period.
Low availability of raw materials due to the reduction of Ginkgo biloba trees caused by over cutting of these trees may challenge the growth of the target market. Side effects of Ginkgo biloba extract such as skin allergies, diarrhea, vomiting, stomach upset, etc., are factors expected to restrain the growth of the target market to a certain extent.
Global Ginkgo biloba Extract Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global ginkgo biloba extract market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global ginkgo biloba extract market is estimated to expand at a moderate CAGR of 4.7% during the forecast period.
Global Ginkgo biloba Extract Market: Segmental Snapshot
The market report has been segmented on the basis of Form, application, and region. The Form is segmented into tablets, capsules, liquid extracts, and others. the application is segmented into food and beverages, cosmetics, pharmaceuticals. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Form: The capsules segment is expected to register a CAGR of over 4.8%, thereby accounting for the highest revenue share among the form segments.
By application: The pharmaceuticals segment is expected to register a CAGR of over 4.6% over the forecast period, thereby accounting for the highest revenue share among the application segments.
By region: The market in Asia-Pacific accounted for highest revenue share in the Global Ginkgo biloba Extract Market in 2020 and is estimated to register a CAGR of over 4.7% between 2020 and 2030.
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Global Ginkgo biloba Extract Market: Competitive Analysis
The research report on the Global Ginkgo biloba Extract Market includes profiles of major companies such as The Nature’s Bounty Co. (Solgar), Otsuka Holdings Co., Ltd, Ipsen S. A, Dr. Willmar Schwabe GmbH & Co. KG (Nature’s Way Products, LLC), Tokiwa Phytochemical Co. Ltd, Rexall Sundown Inc, NOW Foods, Nutraceutical International Corporation (Solaray), Jarrow Formulas, Inc, Zhejiang CONBA Group Co., Ltd.
The Global Ginkgo biloba Extract Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Ginkgo biloba Extract Market for 2020–2030.