The Notoginseng Root Extract Powder Market compound annual growth rate (CAGR) of 6% throughout the forecast period. The increasing popularity of Notoginseng Root Extract Powder as a dietary supplement is a key driver contributing to the growth of market revenue. This extract has demonstrated anti-inflammatory, anti-cancer, and antioxidant properties, making it beneficial for several medical conditions such as high blood pressure, diabetes, and heart disease.
The growing demand for Notoginseng Root Extract Powder products can be attributed to the rising incidence of chronic diseases and the increasing preference for natural and alternative therapies. Additionally, the use of Notoginseng Root Extract Powder in the food and beverage industry is another factor amplifying market revenue growth. It is utilized as a natural food ingredient that enhances the taste of food products while also providing positive health benefits. Market growth is expected to be further boosted by the incorporation of Notoginseng Root Extract Powder in food products, especially in the Asia-Pacific region where traditional Chinese medicine enjoys popularity.
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Competitive Landscape:
- Yunan Baiyao
- Phynova Group
- China National Pharmaceutical Group Co. Ltd. (Sinopharm)
- Guangzhou Hanfang Pharmaceutical Co. Ltd.
- Nanjing Zelang Medical Technology Co. Ltd.
- KPC Pharmaceuticals Inc.
Strategic Development:
- In 2021, Phynova Group announced that it had received approval from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for its Notoginseng Root Extract Powder-based natural medicine, Kanolone. The approval is expected to enhance the company’s revenue in the European market.
- In 2020, Guangzhou Hanfang Pharmaceutical Co. Ltd. announced that it had successfully developed a new Notoginseng Root Extract Powder-based medicine, which was approved by the China National Medical Products Administration. The new medicine is expected to drive the company’s revenue growth in the domestic market.
- In 2020, Nanjing Zelang Medical Technology Co. Ltd. announced that it had received a patent for its Notoginseng Root Extract Powder-based medicine, which is used for treating liver cancer. The patent is expected to strengthen the company’s market position and revenue growth in the pharmaceutical industry.
Notoginseng Root Extract Powder Market Report Scope
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By Product Type Outlook |
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By Application Outlook |
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Regional scope |
North America; Europe; Asia Pacific; Latin America ; Middle East & Africa |
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