The global hibiscus flower powder market size is projected to account for USD 160.2 million by 2025. The market is estimated to register 6.1% CAGR over the forecast years. Increasing use of the products in applications such as pharmaceuticals, cosmetics and food & beverages is driving the growth of the market.
Increasing awareness regarding benefits of hibiscus flower powder is also attributing to the growth of the market. In addition, a rise in the demand for organic and natural cosmetics owing to their fewer side-effects is anticipated to bolster the product growth. Emerging countries such as China and India are the major markets for natural cosmetics.
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Food & beverages segment held the highest share in the market in 2018. Increasing awareness among consumers about healthy lifestyle is driving the segment growth. Hibiscus flower powder is known to offer relief against sore throat along with providing treatment in heart and cancer diseases.
Cosmetics application is likely to witness the maximum growth over the forecast duration with 6.4% CAGR. Hibiscus flower powder helps in moistening and exfoliating skin.
Further key findings from the report suggest:
• Food & beverage segment held the largest share in the market in 2018 and projected to register the considerable CAGR over the forecast duration.
• Cosmetics application segment is projected to witness 6.4% CAGR from 2019 to 2025.
• Among different regions, Asia Pacific is anticipated to register the highest growth rate over the forecast duration.
COVID-19 Impact Analysis
The market has witnessed a mix response from the outbreak of COVID-19. The corona virus infection is known to cause sore throat. Hibiscus flower powder provides relief against sore throat, thereby, its demand for medicinal purpose witnessed considerable growth. However, other applications such as food & beverage and cosmetics have witnessed a sharp decline owing to the closure of retail stores selling these products. Nonetheless, with the reopening of various retail stores and rise in online sales, the product is anticipated to gain traction over the forecast period. Industry participants should focus on introducing cost-effective products to attract consumers.
Global Hibiscus Flower Powder Market: Key Players
Bio Organic, Herbeno Herbals, The Republic of Tea, Traditional Medicinals, Bio Actives, Wild Hibiscus Flower Co., Rena Beverage Solutions and Fortune Health Care
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