Global Fig Glycolic Extract Market Overview
Fig Glycolic Extract is a glycolic extract of Ficus carica, which is an Asian species flowering plant belongs to the mulberry family. The plant is grown since ancient days and has many practical benefits for personal care and cosmetic applications. The demand for fig glycolic extract is increasing and attracts farmers to cultivate fig plants across the globe as it is appreciated as the food source and also for its medicinal properties. Fig has been used in traditional medicines for a wide range of ailments related to endocrine, digestive, reproductive and respiratory systems.
Fig glycolic extract can be used to use the medicinal benefits of the plant as a solvent. The fig glycolic extract is soluble in water and insoluble in some organic solvents. The soluble property of fig glycolic extract is likely to create demand for the products and is projected to drive the global fig glycolic extract market.
The medicinal benefits of the crude extracts, plant and isolated components of Fig is likely to boost the global fig glycolic extract market in the forecast period. The demand for fig glycolic extract in the food industry and cosmetics industry is expected to create a growth opportunity for the global market.
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Global Fig Glycolic Extract Market Dynamics
Fig glycolic extract is widely used in dermatology and skin care products. The medicinal benefits of fig glycolic extract and its use in dermatology industry is likely to contribute for the growth of fig glycolic extract market in the forecast period. Fig ingredients also contain oxalates, which are used as a remedy for colon cancer and hypertension. The fig glycolic extract helps in the nourishment of the intestines as it is a natural prebiotic and act as a natural laxative. The increasing awareness of individuals towards the health benefits of fig, which is likely to drive the global fig glycolic extract market in the forecast period.
The fig ingredients market is used as the treatment for a cough, diabetes, asthma, whooping cough and bronchitis. The fig glycolic extract contains moisturizing, anti-aging, epithelizing, emollient firming agent. The fig glycolic extract provides collagen synthesis stimulation and TEWL regulation. The skin benefits of fig glycolic extract are likely to drive the growth of the global market in the forecast period.
The fig glycolic extract and its product may cause allergy to some people, which are expected to restrain the market.
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Global Fig Glycolic Extract Market Segmentation
The fig glycolic extract market can be classified on the basis of end-user application industry as food, cosmetic & personal care, and healthcare. Further, the cosmetic & personal care products can be sub-segmented into face moisturizer, body perfumes, body scrub, and face wash.
The food segment of fig glycolic extract can further be classified as bakery, confectionery and dairy products. Among the segments of fig glycolic extract application, food segment is expected to hold the majority of share in the forecast period. The food segment is anticipated to expand with a single digit CAGR during the forecast period, 2018-2028.
Global Fig Glycolic Extract Market Regional Outlook
The fig glycolic extract market can be segmented on the basis of geography as North America, Latin America, Western Europe, CIS and Russia, Asia Pacific excluding Japan (APEJ), the Middle East and Africa (MEA) and Japan.
Among the segmented regions of fig glycolic extract market, MEA and western part of APEJ are expected to hold a majority of share globally as they are the largest producer and consumer of fig plant and fig glycolic extract.
The growth of APEJ fig glycolic extract market is expected to expand with a CAGR of a high-end single digit in the forecast period. The growing cosmetic & personal care industry in the APEJ region is anticipated to boost the growth of fig glycolic extract market over the forecast period.
Global Fig Glycolic Extract Market Players
The key players of fig glycolic extract are Greentech, Advance Biotech, Croda International Plc., Marc Jacobs, Stonewall kitchen, Rosebud preserves Ltd., Newman’s Own, Hiya India and others.
The growth of the food industry and cosmetics & personal care industry utilizing fig glycolic extract for different products is projected to boost the revenue of key players during the forecast period, 2018-2028.