Fenugreek extract is produced by the processing of fenugreek seeds. The antioxidant, antibacterial, antidiabetic, and antitumorgenic activities of the fenugreek extract and oil are highly useful. It is widely utilized as a thickener and emulsifier in a wide variety of applications, including food and drinks, cosmetics, medicines, the textile sector, and others.
Fenugreek seed has a long history of use in medicine. Fenugreek seed is a warming kidney yang tonic in traditional Chinese medicine. The spicy, pungent herb balances the kapha and vata doshas in Ayurveda. The plant is utilized in Western herbal medicine for its carminative and galactagogue properties. Additionally, to reduce the use of maple syrup, fenugreek seed extract is employed as an imitation flavor component. The demand for fenugreek extract is growing as a result of these factors.
The fenugreek extract market is segmented by type and application. Based on type, the market is subdivided into powder, oil, and others. Based on application, the market is segmented into food and beverages, pharmaceuticals, cosmetics, and others.
Industry Demand
According to OMR Research, the global fenugreek extract market is projected to grow at a CAGR of 13.1% during the forecast period (2023-2029). The shifting consumption patterns and rising consumer knowledge about healthy living, together with the essential qualities of fenugreek extract such as pleasant flavor, taste, and health benefits, are fueling fenugreek extract market demand throughout the projection period.
Changing eating trends, as well as increased athlete demand for health supplements, will boost the worldwide fenugreek seed extract market’s growth. Furthermore, fenugreek appears to delay sugar absorption in the stomach while stimulating insulin. Both of these actions reduce blood sugar in diabetics. Thus, rising diabetes incidence, particularly type 2 diabetes, due to obesity and rising intake of energy-rich and nutrient-dense foods will drive product penetration throughout the projection period. Increased expenditure on personal care goods is another aspect driving market expansion. The rapid expansion of the cosmetics sector and availability via various channels such as online portals, retail, and branded shops will drive the fenugreek seed extract market size even more.
Furthermore, research on the utilization of fenugreek extract for various purposes is fueling market growth. For instance, according to 2016 research published on the National Library of Medicine's website, 88 postmenopausal women experiencing physical and mental health declines were given fenugreek husk extract in a 500-mg twice-daily dosage for 90 days. The intensity of menopause-related mental and physical symptoms decreased by roughly half in this study's participants, who went from an average of 3 to 5 hot flashes per day to 1 to 2 per day. According to these studies, the use of fenugreek extract will only expand in the next few years.
Recent Developments
The key market players include Ambe Phytoextracts Pvt. Ltd., Alfrebro LLC, Arjuna Natural Extracts Ltd., Bio-Botanica Inc., Indus Biotech, Naturalin Bio-Resources Co. Ltd., Nutra Green Biotechnology Co. Ltd., Shank’s Extracts Ltd., and others These players are accompanying the market's growth through various mergers and acquisitions, collaborations, and new research and development activities. Some of the recent developments in the market include-
• In November 2022, Netsurf Network, one of India's leading direct-selling companies, introduced a new line of herbal green teas. Naturamore Herbal Green Teas' ayurvedic and natural teas are aimed at health-conscious consumers who want chemical-free, herbal drinks. These versions are offered in six varieties- Ginger & Cumin (Digestive & Detox), Tulsi & Licorice (Aids in Lung Detox), Alpinia & CO-Q10 (Rejuvenates & Energizes), Brahmi & Cinnamon (Healthy for Hypertensives), Ashwagandha & Lemon (De-stress & Relaxation), and Fenugreek & Turmeric (Helps Balancing Glucose).
• In September 2022, Tipsy Goji Berry, a new and unique product offering from Luxe Beauty and Wellness Group, was launched. It's healthier because it contains goji berries, which have numerous health benefits. To give the drink a refreshing taste, the new product will also include chamomile, lavender, pecan gum, glutathione, stevia, valerian root, collagen, and extracts of goji berry, cucumber, fenugreek, grape, and wine.
• In August 2022, Elixir Placenta, a stem cell treatment in a capsule, was released by GFoxx International. It combines the benefits of stem cell treatment, anti-inflammatory therapy, and DNA therapy in a single soft gel capsule made from New Zealand deer placenta. Gfoxx Elixir Placenta is made up of 14 high-quality ingredients, including New Zealand deer placenta, D-ribose, yeast extract, squalene oil, MCT, Angelica Sinensis, grape and olive extracts, fermented red ginseng, sea buckthorn oil, Rhodiola Rosea, rice bran oil, black currant seed oil, fenugreek, and Nigela seed oil.
• In July 2022, the Dubai-based cosmetic business released two revolutionary new lip products that promise to be "injection-free lip enhancers." The Silk Balm Icy Cryo-Plumping Lip Balm contains fenugreek extract, which provides an icy, feel-good tingling sensation. Furthermore, the Silk Balm Spicy Thermo Plumping Lip Balm has a translucent orange color that tingles the lips for instantly voluminous lips.