Global Kava Roots Extract Market Size, Share, Growth Analysis, By Product(Liquid and Powder), By End user(Food & Beverage, Pharmaceuticals), By Nature(Organic and Conventional), By Distribution channel(Hypermarts & supermarts, Convenience store) - Industry Forecast 2024-2031

Report ID: SQMIG30C2076 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 114 | Figures: 80

Global Kava Roots Extract Market Insights

Global Kava Roots Extract Market size was valued at USD 1.18 billion in 2022 and is poised to grow from USD 1.37 billion in 2023 to USD 4.59 billion in 2031, at a CAGR of 16.30% during the forecast period (2024-2031).

Today’s youths are buried under mountain works, peer pressure and society expectation. In this situation youths are toiling to achieve more. Kava root extracts help in combating stress aiding body wellness and emotional balance. Kava has received attention owing to its stress-reducing properties. Kava is a beverage or extract made from Piper methysticum. In numerous countries the existence of the kava market is minimal, owing to lack of awareness. Business can flourish in these countries by creating cognizance of kava root extract products.

North America is the major market share holder of the global kava root extract products. Fiji is the major producer and consumer of kava root extract products. The Asia-Pacific region is also growing at a faster rate due to awareness of medicinal benefits of kava products. Fiji has exported about USD 41.9 million in 2021. More than 70% of rural communities of Fiji rely on kava for their employment

Among liquid and powder, powder form has the largest share in the market for about 67%. The powder form is used by health conscious individuals mixed with hot water named as kava tea. It is gaining popularity among individuals due to its anti-caffeine properties.

US Kava Roots Extract Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Kava Roots Extract Market Report Snapshots

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Global kava extract market is highly fragmented by numerous local players which makes it highly competitive to survive. Major manufacturers include Botanic Healthcare., Gaia Herbs, Inc, Fiji Kava Australia Ltd., and LifeSeasons Inc. These key players in the global kava root extract market are actively focusing on enhancing technologies that are tested and approved by regulatory authorities. Such use of advanced technology is helping manufacturers to expand their product offerings. Some manufacturers are investing heavily on R&D to get new innovative products 'Kava Kauai', 'Nakamal at Home', 'Kava Society', 'Kona Kava Farm', 'Vanuatu Kava', 'Bula Kava House', 'Gourmet Hawaiian Kava', 'Fiji Kava', 'Root of Happiness', 'Kalm with Kava', 'Mahakea Kava', 'Cactus Kava', 'Tongan Kava', 'Taki Mai', 'Melo Melo Kava', 'Wakacon', 'Kava Konnection', 'Ozia Originals', 'True Kava', 'Kavafied', 'The beverage Kava 2.0 was introduced in January 2024 by Mitra-9, a beverage manufacturing firm that aids in relaxation. There are two versions for the beverage: RelaxPaks and Seltzers. ', 'Botanic Healthcare started a solar power plant project in Telangana, India, in August 2023. With an installed capacity of 300 kW, this rooftop solar power plant will help Botanic Healthcare lower its electricity costs. ', 'CuraScientific Corp. declared in July 2023 that it would begin producing kava extract under its own brand. The company will be better able to meet the rising demand in the US market for goods based on kava extract thanks to this expansion of manufacturing.'

Increase in preference for herbal medicine over the chemical drugs due to various side-effects which are shown by them. The herbal industry is picking pace because consumers are preferring medicinal plants and herbs for maintaining their health and wellness. Kava root extracts have many medicinal values like in some countries of Europe they use it for treating anxiety and nervous disorders such as insomnia, stress, and restlessness. Therefore, increasing popularity of kava to treat various disorders is expected to drive the market growth.

The pharmaceutical sector is likely to observe tremendous growth opportunities in the upcoming years due to the rising consumer demand for herbal medicines. Pharmaceutical companies are doing research on kava root extracts as they are highly effective in treating various ailments ranging from neurological disorders and cancer. The herbal medicine market is growing at a CAGR of 11.6%. In developing countries herbal medicines are the only affordable and available treatment option. Consumers are mainly preferring herbal medicine for cough and cold, and joint pains.

North America is one of the prominent regions of the market for kava root extract owing to rising product use as a non-alcoholic beverage. Fiji dominates the market in terms of sales. It is the largest producer and consumer of kava root extract products. Kava roots extract market was valued at USD 561 million in 2021 in Fiji. The country is the largest exporter of kava root products and it is regarded as one of the most important cash crops.

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Global Kava Roots Extract Market Size, Share, Growth Analysis, By Product(Liquid and Powder), By End user(Food & Beverage, Pharmaceuticals), By Nature(Organic and Conventional), By Distribution channel(Hypermarts & supermarts, Convenience store) - Industry Forecast 2024-2031

Global Kava Roots Extract Market Insights

Global Kava Roots Extract Market Report Snapshots

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