Rhodiola Extract Market is segmented By Form (Powder, Liquid, Capsules/Tablets, Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others), By Application (Dietary Supplements, Pharmaceuticals, Cosmetics, Functional Foods and Beverages, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
The Global Rhodiola Extract Market reached US$ 2.91 billion in 2023 and is expected to reach US$ 4.763 billion by 2031, growing with a CAGR of 6.30% during the forecast period 2024-2031.
Consumers are increasingly preferring natural and organic health supplements over synthetic alternatives. This trend drives the market demand for rhodiola extract, which is valued for its adaptogenic properties and natural origin. The market is witnessing a growing trend towards clean-label products, emphasizing transparency, minimal processing, and the absence of artificial additives. Rhodiola extract fits well into this category, further boosting its market appeal.
The market is seeing the development of innovative formulations, including liquid extracts, capsules, tablets, and powders. These varied forms cater to different consumer preferences and enhance market accessibility. There is a growing trend of combining rhodiola extract with other beneficial ingredients to create multifunctional health products. This trend is particularly evident in the dietary supplement market, where combination products are highly sought after.
For instance, on November 28, 2022, PLT Health Solutions introduced a water-soluble version of its Rhodiolife Rhodiola rosea ingredient in North America, in collaboration with Spanish ingredient supplier Nektium Pharma. This innovation significantly broadens the range of consumer products that can incorporate the ingredients, meeting the growing demand for more convenient and novel delivery systems.
The awareness and focus on mental health and wellness are rising in Europe. Rhodiola extract, known for its stress-reducing and mood-enhancing benefits, is becoming a popular choice among consumers seeking natural mental health supplements, impacting the market positively. The pandemic has heightened the focus on immune health. With its potential immune-boosting properties, Rhodiola extract is increasingly being incorporated into health supplement regimens, driving regional market growth.
Market Scope
| Metrics | Details |
| CAGR | 6.30% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Form, Distribution Channel, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Europe |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
For more details on this report Request for Sample
Market Dynamics
Increasing Consumer Awareness about the Health Benefits of Rhodiola Extract
As consumers become more aware of the health benefits of rhodiola extract, such as stress reduction, enhanced cognitive function, and increased energy levels, the demand for natural supplements is rising. This growing demand is expanding the market for rhodiola extract products. Increased awareness is attracting a diverse consumer base, including fitness enthusiasts, professionals dealing with stress, and elderly individuals looking for cognitive support. This broadening consumer base is driving market growth.
Increased awareness is leading to the development of combination products that blend rhodiola extract with other beneficial ingredients. This diversification in product offerings is helping companies capture a larger share of the market. To meet the rising consumer demand, manufacturers in the market are developing innovative products, including rhodiola extract in various forms such as capsules, tablets, powders, and liquid extracts. These innovations cater to different consumer preferences and enhance market appeal.
Expanding Applications in Pharmaceuticals and Cosmetics
The pharmaceutical market is increasingly recognizing the therapeutic benefits of rhodiola extract, leading to the development of new pharmaceutical products, and driving the market growth. The cosmetics market is leveraging the antioxidant properties of rhodiola extract to develop skincare products that protect against environmental stressors, reduce signs of aging, and improve skin health, driving demand for rhodiola extract in the beauty and personal care market.
Innovation in formulations, such as topical applications in cosmetics and sustained-release tablets in pharmaceuticals, is expanding the market. These advanced formulations offer enhanced efficacy and user convenience, driving consumer adoption. For instance, on June 13, 2023, Nektium secured new CITES trade permits for its Rhodiola rosea raw material. With this approval, the Las Palmas-based company is authorized to commercialize large volumes of Rhodiolife for customers across the EU and worldwide.
Adulteration and Quality Concerns
Adulteration issues, such as the inclusion of synthetic ingredients or the use of low-quality rhodiola species, erode consumer trust. When consumers encounter ineffective or harmful products, their confidence in the entire market diminishes, leading to reduced demand. Companies that fail to maintain high-quality standards risk damaging their brand reputation. In a competitive market, negative publicity about adulteration can have long-lasting effects on a company's market position.
High-quality rhodiola extract products often come at a premium price due to the costs associated with quality assurance and sourcing authentic raw materials, this can limit the consumer base to those willing to pay more for guaranteed quality. The market become segmented, with a clear divide between high-quality, certified products and cheaper, potentially adulterated alternatives, which can confuse consumers and make it difficult for reputable companies to compete purely on quality.
Market Segment Analysis
The global rhodiola extract market is segmented based on form, distribution channel, application, and region.
Growing Consumer Demand and Health Trends in Dietary Supplements
Dietary supplements hold the largest share of the global market. Rhodiola extract can be incorporated into various dietary supplement formulations. This versatility allows manufacturers to cater to different consumer preferences and market segments. The adaptogenic properties of rhodiola extract make it suitable for addressing a range of health concerns. These functional benefits enhance its appeal in the dietary supplement market.
There is a growing global trend towards health and wellness, with consumers increasingly seeking natural and alternative health solutions. Rhodiola extract, known for its adaptogenic properties and stress-relieving benefits, aligns well with these consumer preferences. Consumers prefer dietary supplements derived from natural sources like rhodiola extract, viewing them as safer alternatives to synthetic products. This preference drives demand for rhodiola extract in dietary supplement formulations.
For instance, on February 21, 2024, Botanical ingredients supplier Nektium, in collaboration with the University of Las Palmas de Gran Canaria, Spain, announced the identification of substantial scientific evidence supporting the anti-stress efficacy of the adaptogens Rhodiola rosea and Ashwagandha (Withania somnifera). Through a comprehensive review of existing in vitro, in vivo, and clinical trials, the researchers have confirmed the significant benefits of these medicinal plants.
Market Geographical Share
Strong Pharmaceutical and Nutraceutical Industry in Europe
Europe has a robust pharmaceutical industry that integrates herbal extracts like rhodiola into medicinal formulations. The recognition of rhodiola extract's therapeutic properties in reducing fatigue, and supporting overall well-being contributes to its market dominance. The European nutraceutical market is characterized by innovation in dietary supplements and functional foods. Rhodiola extract is increasingly used in nutraceutical formulations for its health-promoting benefits, propelling regional market growth.
Europe is at the forefront of scientific research and clinical studies validating the efficacy and safety of herbal extracts like rhodiola. This scientific validation strengthens the market position of rhodiola extract by providing evidence-based support for its health claims. European companies invest significantly in research and development to innovate new formulations and applications for rhodiola extract. This investment fosters product differentiation and enhances market competitiveness in the global arena.
For instance, on February 28, 2024, Gnosis by Lesaffre, a leading supplier specializing in fermentation-derived ingredients, launched Landkind Pure Salidroside. This ingredient, sourced from Rhodiola, is one of the plant’s two primary actives, alongside Rosavins. Salidroside is the most extensively studied bioactive in Rhodiola rosea and Rhodiola crenulata, with over 680 scientific papers on Pubmed, compared to 23 studies on Rosavin.
COVID-19 Impact Analysis
The global supply chain disruptions caused by COVID-19 have affected the sourcing of raw materials for rhodiola extract. Lockdowns, travel restrictions, and reduced workforce availability have created bottlenecks in the supply chain, impacting market availability. Manufacturing units faced operational challenges, including temporary shutdowns and reduced capacity, leading to production delays. These disruptions have constrained the market's ability to meet the heightened demand.
With physical stores closing or operating at limited capacity, there has been a significant shift to online retail. Consumers are increasingly purchasing rhodiola extract products online, leading to a boom in e-commerce channels within the market. The pandemic has accelerated changes in consumer behavior, with a greater emphasis on digital engagement and remote purchasing. This shift has prompted market players to enhance their online presence and digital marketing efforts.
Russia-Ukraine War Impact Analysis
The war has disrupted the supply chain, particularly in Eastern Europe, where rhodiola plants are native. Key sourcing areas for rhodiola rosea, often found in the wild in these regions, have been affected, leading to challenges in raw material availability for the global market. Transportation routes have been severely impacted by the conflict, causing delays and increased costs in shipping raw materials and finished products. This has disrupted the timely supply of rhodiola extract to various markets.
With supply chain disruptions and difficulties in sourcing raw materials, production costs for rhodiola extract have risen. This increase in costs is likely to be passed on to consumers, potentially affecting market demand. The uncertainty and instability caused by the war have led to price volatility in the market. Fluctuating prices for raw materials and logistical costs can lead to inconsistent pricing for rhodiola extract products, impacting market stability.
Key Developments
- On July 6, 2023, Wholesome Organics (WoCo), a pioneering leader in the health and wellness industry, announced the launch of its flagship product, Clean Energy Shot. Clean Energy Shot features a unique blend of plant-based caffeine and adaptogens, including Ashwagandha, Lion’s Mane, Cordyceps, and Rhodiola Rosea, to enhance mental clarity, boost physical endurance, and promote overall well-being.
- On January 10, 2023, Florence by Mills, announced the launch of its latest skincare line, H2Glo. This new collection is formulated with a blend of survivalist plants and is specifically designed for busy individuals seeking a quicker alternative to their usual skincare routine.
- On October 6, 2021, Australia-based start-up Savvy Beverage launched an innovative instant coffee and soda drink infused with nootropic ingredients designed to enhance brain function. This new offering expands their current product line, which already includes functional coffee pods compatible with Nespresso coffee machines.
Market Major Players
The major players in the global rhodiola extract market include Nutra Green Biotechnology Co., Ltd., Xian Greena Biotech Co., Ltd., PLT Health Solutions, Inc., BECARRE Natural, Hunan Nutramax Inc., Changsha Huir Biological-Tech Co., Ltd., Shaanxi Jintai Biological Engineering Co., Ltd., Martin Bauer Group, Nanjing NutriHerb BioTech Co., Ltd, and Xian Yuensun Biological Technology Co., Ltd.
Why Purchase the Report?
- To visualize the global rhodiola extract market segmentation based on form, distribution channel, application, and region and understand critical commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous global rhodiola extract market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of critical products of all the major players.
The global rhodiola extract market report would provide approximately 62 tables, 56 figures, and 213 users.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Trending Topics:
