New York, United States , May 16, 2024 (GLOBE NEWSWIRE) -- The Global Psyllium Market Size is to Grow from USD 0.40 Billion in 2023 to USD 0.60 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.14% during the projected period.
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Psyllium, also known as ispaghula, is the seed of a fleawort (especially Plantago psyllium) which is used as a laxative and as a bulking agent in the treatment of obesity. It is commercially utilized for the production of mucilage which is often referred to as psyllium husk. The structure of psyllium mucilage is hydrophilic in nature. Psyllium has widespread application in the medical sector as well as in the food and beverages industry due to its various health-beneficial effects. The different forms of psyllium being used are psyllium husk, psyllium husk powder, psyllium seeds, and psyllium industrial powder. Psyllium seeds contain lipids, fiber, and protein. Other nutrients include contains fiber, selenium, beta-sitosterol, linoleic acid, potassium, riboflavin, sodium, chromium, and cobalt minerals. In Asian nations, psyllium seeds are traditionally considered to be a medicinal herb due to their gut-cleaning and stool-softening properties. It also helps to treat the symptoms of constipation and mild diarrhea. The growing health concern and rising prevalence of health disorders like cardiovascular disease and obesity increasing the market demand for psyllium. The application of psyllium in the bakery, as well as the beverage industry, is also augmenting the global psyllium market. On the contrary, the availability of various intestinal medicines reduces the need for psyllium restraining the market of psyllium.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Psyllium Market Size, Share, and COVID-19 Impact Analysis, By Type (Conventional Psyllium, and Organic Psyllium), By Application (Food and Beverages, Pharmaceutical and Dietary Supplements, Animal Feed, Personal Care, and Cosmetics), By Distribution Channel (B2B and B2C), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The organic segment dominates the market with the largest revenue share through the forecast period.
Based on type, the global psyllium market is segmented into conventional psyllium and organic psyllium. Among these, the organic psyllium segment is dominating the market with the largest revenue share through the forecast period. Consumers are inclined towards the consumption of chemical-free as well as environmentally friendly dietary food, thus raising the market demand for organic psyllium. The organic psyllium is grown using chemical-free pesticides and herbicides with sustainable agricultural practices considering soil health and biodiversity.
The pharmaceutical and dietary supplement segment is witnessing significant CAGR growth through the forecast period.
Based on the application, the global psyllium market is segmented into food and beverages, pharmaceutical and dietary supplements, animal feed, personal care, and cosmetics. Among these, the pharmaceutical and dietary supplements segment is witnessing significant growth through the forecast period. Psyllium has wide application for the production of various medication. Additionally, it is also available in capsule, powder, and chewable tablet form which is the convenient option for the intake of dietary fiber. Along with medicinal values, psyllium is also used in food and beverage products with additional benefit of promoting digestive health.
The B2C segment is witnessing significant CAGR growth through the forecast period.
Based on the distribution channels, the global psyllium market is segmented into B2B and B2C. Among these, the B2C segment is witnessing significant growth through the forecast period. In the B2C segment of the psyllium market, the marketing is mainly focused on packaging and branding which attract customers thus increasing market demand in the B2C segment. These are available in psyllium husk powder which is used by customers for dietary, health, or cosmetic purposes.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific dominates the market with the largest market share over the forecast period. India's favorable climatic conditions, the expansion of agricultural inputs, and allied services, such as cold storage and warehousing, are driving a production-emerging economy leading to expand the psyllium market. In addition, the increasing geriatric population is raising the demand for psyllium as the geriatric age group is more prone to have indigestion problems. The growing urbanization and increasing pharmaceutical industry in the region have escalated the psyllium market in the region.
North America region is expected to grow the fastest during the forecast period. The presence of key market players for manufacturing dietary supplements is likely to expand the market growth of psyllium in the region. United States is India's leading importer of psyllium husk powder. The rising e-commerce portals for selling supplements and nutraceuticals with additional benefits of discounts and offers provide market opportunities in the region
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Psyllium market are JYOT Overseas, Keyur Industries, Satnam Psyllium Industries, Rajganga Agro Product Pvt.Ltd., Jyotindra International, Virdhara International, Shubh Psyllium Industries, Ispasen Remedies, Keyur Industries, Satnam Psyllium Industries, Abhyuday Industries, Shree Mahalaxmi psyllium Pvt. Ltd., Shubh Psyllium Industries, Urvesh Psyllium Industries, Konpal Ispaghol, and and Others Key Players.
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Recent Developments
- In February 2024, Manitoba Harvest, the hemp food behemoth, partnered with Brightseed, the bioactives pioneer, to produce Manitoba Harvest Bioactive Fiber, which includes psyllium husk fiber and Bio Gut Fiber, a component derived from repurposed hemp hulls.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global psyllium market based on the below-mentioned segments:
Global Psyllium Market, Type Analysis
- Conventional Psyllium
- Organic Psyllium
Global Psyllium Market, Application Analysis
- Food and beverages
- Pharmaceutical and dietary supplements
- Animal feed
- Personal care
- Cosmetics
Global Psyllium Market, Distribution Channel Analysis
- B2B
- B2C
Global Psyllium Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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