Psyllium Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2028
Psyllium is a rich source of fiber, triglycerides, and protein. It belongs to the Plantaginaceae plant family. Psyllium also contains riboflavin, sodium, aucubin, potassium, ascorbic acid, linoleic acid, beta-carotene, etc. These components make psyllium a perfect ingredient for various medical purposes. Therefore, considering all these factors, the psyllium market may record good growth across the forecast period of 2019-2028.
Psyllium is available in various forms such as seeds, industrial powder, husk, and husk powder and can be consumed according to the requirement. Based on origin, the psyllium market can be classified into conventional and organic.
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This report provides a 360-degree analysis of the parameters influencing the growth of the psyllium market. It accentuates on numerous benefit points such as competitive structure, key trends, regional assessment, etc. The segmental study helps the stakeholders understand the different growth aspects of the psyllium market conscientiously. The report also pings pivotal information about the COVID-19 impact on the psyllium market.
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Psyllium Market: Competitive Analysis
The psyllium market is aggressively competitive with many domestic and international players in the fray aiming to gain a position among the top companies. New entrants are increasing the competition to a great extent. Manufacturers in the psyllium market are concentrating on research and development activities for finding new formulations that help in effective end-use.
Mergers, acquisitions, partnerships, joint ventures, and collaborations also form an important part of the growth strategy of the key players in the psyllium market. Key players are also trying to expand their portfolio for providing psyllium across various applications. Key players in the psyllium market are JYOT Overseas Pvt. Ltd., Gayatri Psyllium Industries, BalisanaIsabgol, Premcem Gums Pvt. Ltd., and Satnam Psyllium Industries.
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Psyllium Market: Application Insights
The use of psyllium in diverse applications may ping great growth opportunities for the psyllium market.
Animal Feed: Psyllium is used on a large scale as a feed ingredient for horses. It prevents constipation issues prevalent in horses to a great extent, thus pinging good growth prospects for the psyllium market.
Pharmaceuticals: Psyllium is an important component in almost all medicines related to stomach ache, diarrhea, and constipation. It is also used as a thickening agent during capsule formulation. The high fiber content in psyllium assists in lowering of insulin and is therefore considered useful in diabetes treatment.
Dietary Supplements: Psyllium aids in weight loss as it contains viscous compounds that can help in appetite control and weight loss. A study also found that consuming a specific amount of psyllium before peakfast and lunch led to significant hunger reductions, thus leading to weight loss. Hence, the psyllium market may incur good growth across this application.
Biodegradable Films: The use of psyllium in making biodegradable films may add a new dimension of growth. Researchers in India recently developed a biodegradable film with psyllium husk as the main component. Therefore, the discovery of the use of psyllium in novel applications may open new doors of growth opportunities for the psyllium market.
COVID-19: Ayurveda can help in fighting COVID-19 by boosting the immunity of the human body. The use of psyllium in Ayurveda may propel the growth rate of the psyllium market as immunity-boosting Ayurvedic therapies are gaining traction.
Psyllium Market: Geographical Landscape
The psyllium market is geographically segmented into North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), North America, Latin America, and Japan. APEJ may turn out be to a significant growth contributor for the psyllium market as India is the largest producer and exporter of psyllium. North America may also turn out to be a prominent growth contributor due to growing awareness about weight loss. Europe may also prove to be an important growth generating region due to the large demand for industrial husk powder.
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