Market Overview-

The global kava root extract market was valued at USD 1.38 billion in 2023 and is projected to grow from USD 1.61 billion in 2024 to USD 5.45 billion by 2032, reflecting a CAGR of 16.47% during the forecast period. In 2023, Australia led the market with a 55.2% share. Meanwhile, the U.S. market is expected to expand significantly, reaching approximately USD 30.28 million by 2032, driven by the increasing use of kava root extract in herbal supplements and pharmaceutical products for its potential benefits in managing stress and anxiety.

The growing acceptance of herbal extracts infused non-alcoholic beverages, coupled with the rising functional food consumption, is estimated to favor the market’s expansion. Fortune Business InsightsTMhas presented this information in its report titled, “Kava Root Extract Market, 2024-2032”.

Additionally, the swiftly expanding supplements industry and the increasing kava root extract incorporation in the pharmaceutical industry are anticipated to bolster the market’s expansion.

List of Key Industry Players-

  • Botanic Healthcare (India)
  • NOW Health Group Inc. (U.S.)
  • Gaia Herbs Inc. (U.S.)
  • Root of Happiness (U.S.)
  • LifeSeasons, Inc. (U.S.)
  • Natural Factors Nutritional Products Ltd. (U.S.)
  • Best Nutrition Product, Inc. (U.S.)
  • Fiji Kava Australia Ltd. (Australia)
  • Kona Kava Farm (U.S.)
  • Nutragreenlife Biotechnology Co., Ltd. (China)

Segments-

Kava Root Powder Segment’s Growth to Amplify Due to Application in Dietary Supplements

On the basis of product type, the market is bifurcated into kava root liquid extract and kava root powder extract. The wide utilization of kava root powder in dietary supplements and personal care industry propels the segment’s growth.

Huge Consumption as Ceremonial Drink to Boost the Food & Beverage Segment

On the basis of end-user, the market is fragmented into cosmetics and personal care products, pharmaceuticals, and food & beverage. The rising incorporation of plant-based extracts is projected to bolster the food & beverage segment’s growth.

Geographically, the market is classified into New Zealand, Australia, Tonga, U.S., Vanuata, Fiji, and the Rest of the World.

Report Coverage-

  • It includes insights into various segments of the market.
  • It showcases and explains in detail the latest key industry developments.
  • It presents a thorough analysis of the coronavirus pandemic.
  • It assimilates the crucial drivers and restraints of the market’s expansion.
  • It highlights the market’s growth analyzed and estimated across various geographies.

Drivers & Restraints-

Swiftly Expanding Supplements Industry to Propel the Market Growth

The swiftly expanding supplements industry due to a sharp increase in supplements consumption by the geriatric population is projected to invigorate growth for the market. Additionally, the rising consumption of functional foods is expected to aid the market’s expansion due to the thriving demand for kava in functional beverages and foods. The mounting admiration of herbal extracts-infused non-alcoholic beverages due to rapidly increasing health awareness is predicted to complement the market’s expansion.

Moreover, the growing consumption and demand for these extracts by the pharmaceutical industry due to their therapeutic and relaxing properties is anticipated to favor the kava root extract market growth.

However, low market penetration may restrain the market’s expansion during the forecast period.

Regional Insights-

High Production and Consumption of Kava to Boost Growth in Fiji

Fiji is a huge producer and consumer of kava root extracts. The country is predicted to attain a humongous global kava root extract market share as it is a major producer of these extracts and the favorable initiatives for unemployed rural individuals and farmers are projected to bolster the market’s expansion in Fiji.

Vanuatu is predicted to showcase ample growth in the forthcoming years. The rising demand for nutritional supplements, urbanization, a surge in women kava drinkers, and an ever-increasing populace are a few factors expected to stimulate growth in the country.

The evolving consumption patterns are predicted to escalate product consumption and flourish in growth in the U.S.

Competitive Landscape-

Key Players Unveil New Product Offerings to Escalate their Global Positions

The major players operating in the market emphasize upgrading their current product portfolios by incorporating advanced technologies to enhance their offerings. The major market players adopt ingenious strategies, including contracts, acquisitions, mergers, collaborations, and others to amplify their growth prospects. For instance, a pre-packaged kava drink, Drink Leilo, was launched in the U.S. in March 2020.

Key Industry Development-

  • February 2024: Branded Legacy, Inc. invested in the research and development of new procedures to produce Kavalactones. Improvement in the extraction of Kavalactones will help the company launch new kava extract-based health and wellness products in the market.

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