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.
Our in-depth analysis segmented the global ursolic acid market in the following segments:
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.
Scope and Context
Overview of the Parent Market
The global ursolic acid market is segmented as follows:
Supply & Demand Risk
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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