QYResearch: The global consumption value of maca extract increases with the 76.82% average growth rate
The root vegetable known as Maca originates from the Peruvian Andes. Maca, also known as Peruvian Ginseng is reported to have numerous health benefits. In fact, powdered Maca is considered a unique superfood that boosts energy, improves stamina and enhances libido. Maca root powder is also widely used in many of the best male enhancement pills. Maca root extract is contained in many leading male enhancement supplements and is widely used to treat hot flushes, memory loss, stress, depression and fertility.
Maca extract industry is mainly concentrated in Peru and China. Currently, there are many maca extract products producing companies in the world maca extract industry. The main market players are Koken, Peruvian Nature, Panpacific Corporation, Natural Health International, Inca Health and Jiaherb. The production of maca extract increases to 2912.6 MT in 2016 from 844.4 MT in 2011 with average growth rate of 29.77%. Peru is the largest production region with rich raw material source.
According to QYResearch, The global consumption value of maca extract increases with the 76.82% average growth rate. South America and North America are the major consumption region due to the bigger demand of downstream applications. In 2016, these this region occupied 42.20% of the global consumption volume in total.
Maca extract include many forms with different extract ratio. And each form has different application industries with price difference. With medical effect of maca extract, the downstream application industries will need more maca extract products. So, maca extract has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce good performance maca extract through improving technology.
The major raw materials for maca extract products are maca and other auxiliary materials. Fluctuations in the price of the upstream product will impact on the production cost of maca extract. The production cost of maca extract is also an important factor which could impact the price of maca extract.
In the past several years, China market witnessed obvious rising stage of maca extract and tends to be more rational recently. This rising drived the boost of maca extract in Peru at the same time. In addition, there is rising trend in Europe and USA. Thus, QYResearch tend to believe this industry would be stable market.
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