The new report by Expert Market Research titled, ‘Global Alfalfa Grass Powder Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global alfalfa grass powder market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.20%
The market is being driven by the emerging trend of health and wellness, which is surging the use of alfalfa grass powder. With the rising demand for herbal supplements to boost holistic wellbeing, the demand for alfalfa grass powder is surging and augmenting the market growth. Moreover, the expansion of distribution channels is escalating the availability of alfalfa grass powder in both developed and developing countries, which is bolstering the growth of the industry. As e-commerce platforms are witnessing a surge in their popularity, the accessibility to innovative products containing alfalfa grass powder is escalating, thereby significantly contributing to the growth of the market.
Industry Definition and Major Segments
Alfalfa grass powder refers to powdered form of alfalfa grass that is rich in various essential nutrients like potassium, phosphorous, calcium, and vitamins A, C, and E, among others. It is used in the treatment of various diseases like diabetes, hyperthermia, and cancer, among others.
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Based on type, the market is bifurcated into:
• Organic
• Conventional
By application, the market is divided into:
• Functional Foods and Beverages
• Dietary Supplements
• Others
The regional markets of alfalfa grass powder are:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The industry market growth of alfalfa grass powder can be attributed to the increasing demand for immunity-boosting food, which, in turn, is surging the demand for alfalfa grass powder. With the growing vegan population, alfalfa grass powder is increasingly consumed as a substitute for animal-based products, which is invigorating the market growth. As the demand for clean-labelled products is surging, the preference for organic alfalfa grass powder is growing and fuelling the industry growth. Moreover, the growing skin consciousness is surging the consumption of alfalfa grass powder to enhance skin health, which is expected to significantly contribute to the growth of the market in the forecast period.
Key Market Players
The major players in the market are Nature’s Power Nutraceuticals Corp. (NP Nutra), Nutrient Innovations, Inc., goIndiaOrganic, NOW Health Group, Inc., BareOrganics, LLC, Mountain Rose Herbs, and Isha agro developers pvt ltd (herbal hills), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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