Yucca refers to the type of shrub found in the drier parts of Mexico and Latin America and Southwest of the United States. Yucca is a rich source of physiologically active phytochemicals, and has got high medicinal value. Yucca extract can be described as a solid extract derived from the roots of yucca or from its leaves. Yucca extracts possess high anti-oxidant properties and saponin content. Antioxidant properties of yucca extract helps the body to recover from cell damage. The anti-inflammatory properties of yucca extracts helps in lowering the cholesterol level, reduce pain and swelling in arthritic joints, reduce blood pressure and migraine headaches. Yucca extracts are highly beneficial to prevent diseases such as cancer, diabetes, and heart diseases. Rising consumer awareness regarding the benefits offered by yucca extracts in treating various ailments is expected to drive the growth of global yucca extracts market over the forecast period.
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Market Dynamics of Yucca Extracts Market:
Owing to the high medicinal value of yucca extract, the market is expected to witness modest growth in the coming years. Additionally, its high growth can be credited to various macro-economic factors such as rise in the geriatric population, recovered GDP, increased disposable income, and increasing per capita health expenditure. Rapid urbanization coupled with the changing life-style and eating habits, and growing prevalence of ailments & diseases supports the growth of global yucca extracts market. Further, the use of yucca extract as herbal supplement is also not governed or regulated by FDA. This has provided a significant boost to the growth of global yucca extracts market. Companies in the yucca extract market are continuously involved in research & development activities to bring advances in the applications of yucca extracts.
Segmentation of Yucca Extracts Market:
Yucca Extracts market is segmented on the basis of application and geography. Based upon application, yucca extracts market is segmented into functional food, pharmaceutical, dietary supplements, personal care, industrial, and others. Dietary supplements is expected to be the largest application segment in the global yucca extracts market. Its largest market value can be attributed to its high antioxidant and anti-inflammatory properties. Rise in the health concerns among consumers escalates the demand of yucca extracts over the forecast period. Pharmaceutical application segment is poised to witness fastest growth in the global yucca extracts market owing to the increased application scope in ailment of various cognitive diseases, cancer, diabetes, and health diseases. Owing to the high saponin content, yucca extract acts as a foaming agent, hence found wide application in personal care segment.
Regional Outlook of Yucca Extracts Market:
Based on geography, Yucca Extracts market is segmented into seven different regions namely North America, Middle East and Africa, Latin America, Asia-Pacific, Western Europe, Eastern Europe, and Japan. Emerging economies, though possess high growth potential, are expected to witness limited consumption owing to lack of awareness about the health benefits of yucca extracts and price sensitivity of consumers. North America is expected to lead the regional market for yucca extracts during the reviewed market. The high market share can be attributed to the strong demand from U.S. Western Europe is expected to hold second largest market share in global Yucca Extracts market over the forecast period while Asia Pacific is projected to be the fastest growing region in the global yucca extract market owing to the increased demand from China and India.
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Key Market Players in Yucca Extracts Market:
Some of the key players in the Yucca Extracts market include Avitech Nutrition Pvt. Ltd., Naturex Group, BAJA Yucca Co, Plamed, Desert King International, Ingredients By Nature, LLC, American Extracts, Nova Microbials, and Garuda International, Inc., among others.