Forskolin Market Demand and Analysis 2030 by Application

Forskolin Market Growth & Trends

The global forskolin market size is expected to reach USD 966.22 million by 2030, registering a CAGR of 8.7% over the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand from the pharmaceutical industry owing to its high medical value. The market is expected to grow because of end-users’ inclination from synthetically processed to naturally-derived ingredients. Forskolin has a wide range of application scope across various industries, such as food & beverages, pharmaceuticals, and cosmetics among others. It has been used as a traditional medicine in the field of ‘Ayurveda’ since ancient times, for the treatment of heart, abdominal, and respiratory diseases, among others.

Forskolin Market Segmentation

Grand View Research has segmented the global forskolin market on the basis of purity, application, and region:

Based on the Purity Insights, the market is segmented into Low (10-50%), Medium (50-95%) and High (> 95%).

• The high purity segment dominated the market with a revenue share of around 68.0% in 2021. The high share of the segment is attributed to the growing demand for high-grade forskolin in the personal care & cosmetics High-purity forskolin is derived from the roots of the plant. This extraction results in the purest form of forskolin, which is widely utilized in the cosmetic and skincare industries as a conditioning agent. Medium purity type is the second-largest segment due to its wide application scope in various food and beverage products. The rising demand for organic commodities in the food and beverages industry, which is good for consumption in the human body, has driven the market for medium-purity products.
• The forskolin with medium purity of 50% to 95% undergoes various processes after its extraction from the roots of the plant. The isolation by hydrotropic extraction is one of the most commonly used methods for obtaining medium-purity products. Several health benefits resulting from the consumption of forskolin in the form of health and dietary supplements contributed to its surged demand across the globe. Due to many research and development activities, carried out by the industry players, it has become possible to manufacture low-purity products, which are extensively used in the production of dietary supplements, by high-performance liquid chromatography method. These products have shown high evidence of treating Alzheimer’s disease. It may be considered a promising drug in the coming years.

Based on the Application Insights, the market is segmented into Food and Beverages, Cosmetics, Pharmaceuticals, Dietary Supplements, Others.

• The dietary supplements application segment dominated the market with a revenue share of more than 35.0% in 2021. This high share is attributed to the non-toxic nature that makes it safe for human consumption, which, in turn, fuels the global demand. The growing awareness regarding the consumption of dietary supplements in developing economies can further contribute to the product demand over the next decade. Forskolin active ingredient is majorly used in the formulation of several daily-use dietary supplements owing to its nutritional content.
• This ingredient, with its low purity ranging from 10% to 50%, is used in the formulation of healthcare products and fat loss capsules. Apart from its use in dietary supplements, the product helps in the treatment of thyroid and reduces cardiovascular risks among its consumers. The pharmaceutical application type has the second-highest percentage of revenue share, globally. India is the major consumer of forskolin as it is found in abundance in the region. The product has been used as a tonic in the Indian traditional medicine system. The use of forskolin has been proved to be beneficial in maintaining blood pressure in the human body and treating many serious diseases like cancer, Alzheimer's, asthmatic conditions, and diabetes.

Forskolin Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

Key companies are entering into long-term contracts with domestic and international suppliers and distributors to diversify their sources and maintain the quality of the products.

Some of the prominent players operating in the global forskolin market include,

• Alchem International Ltd.
• Nutra Green Biotechnology
• Shaanxi Jiahe Phytochem
• Glentham Life Sciences
• Flavour Trove
• Cymbio Pharma Pvt. Ltd.
• Alpspure Lifesciences Pvt. Ltd.
• Bioprex Labs

Order a free sample PDF of the Forskolin Market Intelligence Study, published by Grand View Research.