Health benefits associated with roselle, companies emphasizing on calorie reduction due to increase in health awareness, fuel the global roselle market. On the basis of end use, the food and beverages segment held the highest market share in terms of revenue. Based on region, the North America region dominated the market with largest share in 2020, and is expected to lead the trail throughout the forecast period.
Portland, OR, Aug. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global roselle industry was pegged at $122.8 million in 2020, and is projected to garner $252.6 million by 2030, manifesting a CAGR of 7.5% from 2021 to 2030. The report offers an extensive analysis of changing market trends, top investment pockets, value chain, key segments, and competitive landscape.
Health benefits associated with roselle, and companies emphasizing on calorie reduction due to increase in health awareness fuel the global roselle market. On the other hand, overconsumption of roselle in products may cause health hinder the market growth. Moreover, rise in investments by small-&mid-sized food product manufacturing companies and rise in application of roselle powder in the cosmetic industry are projected to open lucrative opportunities in the future.
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Growth of the global roselle market was adversely affected during the initial phase of COVID-19 outbreak. Lockdowns across the globe led to travel restrictions, which seriously affected the distribution channels of the roselle industry across the globe.
However, the government bodies are now relaxing certain restrictions in order to help the industry economically, owing to which the market is expected to recoup soon.
The global roselle market report is segmented into form, end use, sales channel, and region. By form, the market is divided into powder and liquid. The powder segment dominated with the largest share in 2020, holding for more than two-thirds of the global roselle market. However, the liquid segment is expected to cite the highest CAGR of 8.1% during the forecast period.
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Based on end use, the market is divided into food & beverages, pharmaceuticals, animal feed, and cosmetics & nutraceuticals. The food and beverages segment held the highest market share in terms of revenue, accounting for nearly one-third of the global roselle market. Conversely, the pharmaceuticals segment is estimated to exhibit the highest CAGR of 8.1% during the forecast period.
Based on region, the market is studied across Asia-Pacific, Europe, North America, and LAMEA. The North America region dominated the market with largest share in 2020, holding more than one-third of the market. On the other hand, the global roselle market across Europe is expected to witness the highest CAGR of 8.4% from 2021 to 2030.
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Major market players profiled in the report include Roselle Rossell India Ltd., Apple Food Industries, Buddha Teas, Farms, Guangzhou Runming Tea Co., Ltd, Thai Organic Life, Cultivator Natural Products Pvt. Ltd, Atlantis Arena Sdn Bhd, U.S. Wellness LLC, and The Tao of Tea LLC.
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