Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Ursolic Acid Market Overview
Ursolic acid (pentacyclic triterpenoid) is a biologically active compound found in peel of fruits and herbs like holy basil. Ursolic acid is gaining popularity worldwide due to its various properties and benefits such as anti-bacterial, anti-inflammatory, muscle growth, bones growth and others. Consumers worldwide prefer ursolic acid based products comprises of skin care products, hair care products, make-up products, functional food products and others.
Market Size and Forecast
Ursolic acid market is anticipated to witness a robust growth and to flourish at an elevated CAGR during the forecast period. Riding on the back of the increasing healthcare and fitness concern, the global ursolic acid market is forecasted to grow at a significant pace in the upcoming years.
Geographically, North America and Asia-Pacific are the two largest markets for ursolic acid. North America ursolic acid market is majorly driven by the increasing healthcare concern. Further, spiked increase in fitness activities and rising healthcare concerns in the region is also envisioned to bolster the growth of ursolic acid market over the forecast period. Moreover, increasing demand for functional foods and beverages is expected to intensify the growth of ursolic acid in the North America region.
Asia-Pacific ursolic acid market is likely to grow at highest compound annual growth rate (CAGR) over the forecast period across the globe. Ursolic acid market in Asia-Pacific region is mainly increasing on the account of growing cosmetic industry in the region. Moreover, China, Japan and India are anticipated to capture the largest market share by the end of 2024. Europe region is likely to grow at a modest rate owing to the fluctuating economy of Western Europe. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Market Segmentation
Our in-depth analysis segmented the global ursolic acid market in the following segments:
By Type
By Application
By Form
By Region
Global ursolic acid market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising awareness regarding the applications and benefits of ursolic acid is the major factor which is expected to drive the market over the forecast period. Further, chemo therapy properties of ursolic acid such as low radio resistance in cancer patients is expected to be the dynamic factor behind the growth of ursolic acid market in the healthcare sector.
Rapid urbanization is leading to more health and fitness conscious customers which are anticipated to impel the growth of the ursolic acid market. Further, muscle and bone growth properties of ursolic acid are gaining traction among fitness conscious peoples. This factor is likely to drive the global ursolic acid market over the forecast period.
Apart from this, increasing penetration of ursolic acid in cosmetic industry owing to spiked growth and demand for herbal products is expected to garner the growth of global ursolic acid market. Moreover, expansion of nutraceutical and functional food based products has been witnessed in recent years. This is further likely to impulse the demand for ursolic acid over the forecast period.
However, lack of awareness about benefits of ursolic acid in under-developed regions is likely to hamper the growth of the market. Further the regular use of ursolic acid can cause DNA damage, mitochondria and other related diseases. These factors are anticipated to restrain the growth of global ursolic acid market.
Key players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global ursolic acid market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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