Olive leaf extract is obtained from the olive plant itself, whose scientific name is Olea europaea. Olive leaf extract possesses antimicrobial and antioxidant properties. It also has antibacterial, antioxidants, antiviral, anti-parasitic properties. In Middle-east and African countries such as ancient Egypt, olive leaf extract is used as a traditional medicine for centuries. Olive leaf extract is also found to be useful in respiratory and digestive track disorders in human beings. According to the American Heart Association, the heart diseases are the major reasons for the maximum death of the people around the globe followed by heart strokes. The AHA also states that in coming decades the number of people losing lives because of heart diseases is going to increase only. Olive leaf extracts have been scientifically proven to reduce the risk of heart diseases as well as coronary heart diseases if consumed regularly in an optimum quantity.
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Olive Leaf Extract Market: Market Dynamics
The increasing preference for Mediterranean diet amongst people around the globe is contributing to the growth of olive-leaf extract market. The consciousness to have a healthy heart and a longer life is fueling the demand for olive leaf extract containing products as these extracts regulate blood pressure. The interactions of a drug along with the olive leaf extracts have side effects, which are affecting the growth of its market. High cost involved with R & D of olive leaf extract for different applications is also impacting the market growth. Lack of awareness about benefits of olive leaf extract amongst consumers can affect the growth of its market in the forecast period. Muscle pain, joint pain, fever, sweating, nausea, diarrhea, dizziness, and headache are the side effects of olive leaf extract if not taken in optimum amount. The need for organically grown olive leaf extract is an opportunity for many producers for increasing their market share in the forecast period. Companies are trying to produce the purer form of olive leaf extract because of advancement in extraction technology. The concept of hand-picked leaves and of the source to shelf products is gaining attraction of producers as well as consumers. Olive leaf extracts have anti-mutagenic and anti-inflammatory properties, which makes them useful for preparation of different drugs and medicines. They are also being used in combination with manuka honey and omega-3 fish oils to manufacture natural health care products.
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Olive Leaf Extract Market: Market Segmentation
The global olive leaf extract market can be segmented on the basis of end-use industries:
It can also be segmented on the basis of the form:
Olive Leaf Extract Market: Segmentation Overview
Olive leaf extracts are used as active ingredients and anti-oxidants in the preparation of various cosmetics such as anti-ageing cream, night cream, moisturizing cream, face serum, face toner, face wash, hair conditioner, shampoo, mouthwash, body wash, gel etc. Olive leaf extracts contain phenolics which improve metabolism and are good for skin health. Food applications of olive leaf extract can be further segmented into bakery, confectionary and pet foods. Olive leaf extract is used as an ingredient in the production of pet foods and as an additive in bakery products. Olive leaf extract has the property to reduce cholesterol levels in humans, chocolates made with olive leaf extract serve this purpose along with taste. It is also available in the form of olive leaf tea as well as olive loose leaf tea. Olive leaf extracts are used as dietary supplements as they act as antiradical and improve blood circulation in the body. They are antioxidants and metabolize carbohydrates and lipids in the body. Olive leaf extract contains a compound called Oleuropein which is useful to treat cancer. Olive leaf extract polyphenolics have a far higher ORAC i.e. Oxygen Radical Absorbance Capacity than other extracts with antioxidant properties.
Olive Leaf Extract Market: Regional Outlook
The global olive leaf extractmarket geographically is segmented as North America, Eastern Europe, Western Europe, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. North America and Europe hold a significant market share of olive leaf extracts owing to the increasing awareness of its versatile benefits and applications. Furthermore, the increase in R & D activities related to plant leaves, wherein olive leaf extract has nutritional value as well, aids in boosting the growth of olive leaf extract market in the region. The market in the APEJ region is more inclined towards increasing demand for olive leaf extract because of the growth in cosmetics and pharmaceutical industry.
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Olive Leaf Extract Market: Prominent Players
Some of the prominent players in the global olive leaf extract market are:
- Evergreen Life Products
- Olivus Incorporation
- Vabori Australia
- Comvita Limited New Zealand