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Global Capsaicin Market is forecasted to reach 8.9 Million USD by 2024

Author: QYResearch | Publish date: 2018-06-01 | Views: 113
The global Capsaicin market is valued at 6.4 million USD in 2017 and is expected to reach 8.9 million USD by the end of 2024, growing at a CAGR of 4.91% between 2017 and 2024, supported by demand from medicine industry, cosmetics industry and so on.


The major players in global Capsaicin market include Yunnan Honglv, Tianjin Shennong, Henan Bis-biotech, Great Forest Biomedical, Synthite Industries, Chenguang Biotech Group, Naturite Agro Products, Paparika Oleo's, AOS Products, Alps Pharmaceutical.


Capsaicin is mainly extracted from chili peppers. Due to its primary analgesic properties, the product is widely consumed in the medicine industry.


Globally, the production of capsaicin concentrates in China and India. The two regions contribute about 96% production share each year.


Presently, the market of capsaicin is small, but capsaicin manufacturers are actively expanding their business and exploring more potential for the product. The market is estimated to keep fast growth in the coming few years.

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