Increasing Focus on Health and Wellness Serving as Significant Growth-Boosting Factor for Global Ursolic Acid Market between 2020 and 2030: TMR
ALBANY, N.Y., Oct. 13, 2020 /PRNewswire/ — The popularity of ursolic acid as a good recomposition agent may serve as an important growth factor for the ursolic acid market. Due to its overwhelming properties, ursolic acid is used on a large scale in the form of capsules and supplements to increase muscle mass. It is also used for weight loss purposes.
Considering the factors associated with generating growth, the researchers at Transparency Market Research (TMR) expect the global ursolic acid market to expand at a CAGR of 7.5 percent.
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Increasing research and development activities are helping the ursolic acid market to gain good growth. The rising demand for novel products laced with ursolic acid such as stearate-free ursolic acid capsules may serve as vital growth generators for the ursolic acid market. Heightening research in molecular modeling approaches to focus on drug designs that can effectively treat COVID-19 is also offering growth generation opportunities across the ursolic acid market.
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Ursolic Acid Market: Analysts View
The analysts at Transparency Market Research (TMR) predict that the extensive use of ursolic acid in the COVID-19 drug development mechanism may serve as an important growth aspect. The analysts further suggest the manufacturers in the ursolic acid market to follow the rules and guidelines issued by the FDA in regard to the approved materials used as nanocarriers. The analysts also highlight the growing influence of ursolic acid curing cancer due to its anti-cancer effects.
Ursolic Acid Market: Key Revelations
- On the basis of product type, the 50 percent ursolic acid segment is extrapolated to grow at a CAGR of 8.5 percent during the assessment period
- The 98 percent ursolic acid segment comprises a massive share of 42 percent of the ursolic acid market
- Powdered extract ursolic acid ingredients may gain considerable traction in terms of demand and is expected to progress at a CAGR of 7.9 percent across the forecast period of 2020-2030
- In view of the applications, the nutraceutical sector accounts for a mammoth share of 46 percent
- The nutraceutical segment is predicted to be valued at US$ 3.8 mn in 2020 and is expected to reach US$ 7.8 mn by the end of 2030, expanding at a CAGR of 7.5 percent
- East Asia may hold a massive share of 28 percent in this forecast period
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Ursolic Acid Market: Growth Propellers
The global ursolic acid market may gain good growth mainly on the back of a large number of consumers preferring organic and natural products. Increasing focus on health and wellness by a large number of consumers is pushing the growth of natural products greatly.
- The anti-diabetic, antimicrobial, and anti-inflammatory properties of ursolic acid are helping the market to gain extra stars of growth
- The utilization of ursolic acid as a chemotherapeutic agent is further increasing the growth opportunities for the ursolic acid market
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Ursolic Acid Market: Geographical Analysis
Among all the regions, the ursolic acid market in East Asia may present ripe growth prospects during the assessment period. Furthermore, the rising geriatric population in Japan may serve as a vital growth opportunity as the individuals in this category need dietary supplements on a large scale.
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Global Ursolic Acid Market: Segmentation
- Powdered Extract
- Liquid Extract
By Product Type
- 25% Ursolic Acid
- 50% Ursolic Acid
- 90% Ursolic Acid
- 98% Ursolic Acid
By End Use
- Food and Beverage
- North America
- Latin America
- East Asia
- South Asia
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