Celandine extract is a botanical extract derived from the greater celandine plant. The greater celandine plant belongs to the poppy family, which grows wild in Asia and Europe and has been introduced to North and South America widely. Celandine extract has been used as an herbal medicine for the treatment of gastrointestinal complaints and gallbladder issues. Celandine extract is also known to be a mild sedative and has been used in the treatment of whooping cough, asthma, and atherosclerosis. Celandine extract is widely used in applications for alternative medicine such a homeotherapy. However, it is not available in the form of OTC drugs. Celandine extract is widely used in homeopathic medicine in the form of tinctures and alcohol-based formulations. Celandine extract is also used directly in traditional medicine for treatment of warts. Celandine extract has also become a vital part of western phytotherapy thanks to its broad antimicrobial activity. Cumulation of all of these factors has led to an increase in the demand for celandine extract market.
An increase in preference toward alternate medicine surging the demand for celandine extract
The increase in awareness about the ill effects of allopathic medicine has led to the consumer searching for better alternatives. Phytotherapy is one such alternative forms of medicine which are science-based rather than anecdote based evidence. This nature of the therapy means an increased number of population will be willing to opt for phytotherapy. Phytotherapy uses celandine extract for multiple purposes including stomach ailments, arteriosclerosis, detoxification etc.
Homeopathic medicine is one of the most preferred forms of alternative medicines as well. Celandine extract is used extensively in homeopathic therapy for multiple purposes. The inclination toward homeopathy as the alternative medicine is expected to raise the demand for celandine extract market over the forecast period. Celandine extract also exhibits liver supporting properties, this has led to celandine being included in preparations designed to support the liver and biliary tract. In a study conducted by Kim DS et.al., it was observed that the celandine extract helped relieve the symptoms of intestinal irritation. Giving an insight into the usefulness of the product in treating chronic ulceritis. Celandine extract’s wide area of application, use in multiple verticals of alternative medicine are the key factors that are increasing the demand for it in the market.
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Global celandine market: key players:
Some of the key market players in the celandine extract market are: Woodland Essence, Herb Pharm, Global Healing Center, Eclectic Institute, Wise Woman Herbals, Xi’an Le Sen Biotechnology Co., Ltd, Changsha Vigorous-tech Co., Ltd,
Global celandine extract market: opportunities for market participants
The modern consumer’s preference towards alternative/traditional medicine in the light of ill effects of allopathic medicine is going to drive the demand for celandine extracts higher. In countries such as the U.S., this shift is seen more prominently, where healthcare costs are higher. This urges people to opt for traditional or alternative forms of medicine. Celandine extract is widely available for purchase online, however, there is scope for growth in celandine extract infused products which will be more appealing to the consumer. More companies are taking advantage of the multispectral properties of the celandine extract and incorporating it into their products than selling the extract as a standalone product. This opens up new doorways for market participants.
Global celandine extract: a regional outlook
With the general population inclined toward the use of alternative medicine such as homeopathy and phytotherapy, the demand for celandine extract is on the rise from developed regions. Due to a growing internet culture, developing regions such as APAC are also a hotspot for the trend for alternative medicine to catch on. This makes them a potential market for celandine extract.
Predominantly the demand for celandine extract is higher from North America with the U.S. being one of the largest contributor. Eastern and central European regions are also one of the largest consumers of celandine extract thanks to its prevalent use in folk medicine.