The Business Research Company’s Ursolic Acid Global Market Report 2021 : COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, August 26, 2021 /EINPresswire.com/ — Rapid growth in the utilization of ursolic acid in the manufacturing of various products in the cosmetic industry owing to spiked growth and demand for herbal products is expected to garner the growth of the market over coming years. Ursolic acid in cosmetic products is used as an anti-aging agent, anti-inflammatory, anti-wrinkle agent, and antioxidant. According to Forbes, 2019, the worth of the global beauty industry is $532 billion. With a 20% market share, the USA currently leads the world in the beauty sector, followed by China (13%) and Japan (8%).
The global ursolic acid market is expected to grow from $7.62 million in 2020 to $8.12 million in 2021 at a compound annual growth rate (CAGR) of 6.6%. The growth of the ursolic acid market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The ursolic acid market is expected to reach $10.34 million in 2025 at a CAGR of 6.2%.
The main types of ursolic acid include 25% ursolic acid, 50% ursolic acid, 90% ursolic acid, 98% ursolic acid and others. The 25% ursolic acid is extracted from different sources and standardized to 25% for a more reliable formulation and consistency. The various forms of ursolic acids are powdered form, capsules, liquid form and is used in pharmaceutical, food and beverages, cosmetics, nutraceuticals, and other industries.
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The ursolic acid market consists of sales of ursolic acid and related products by entities (organizations, sole traders, and partnerships) that manufacture ursolic acid that belongs to a member of the triterpene family of chemicals, which are found in both plants and mammals. Ursolic acid is a naturally occurring chemical molecule found in a wide range of plants, including rosemary and apples. It is presumed to contain antioxidant, anti-inflammatory, and cancer-fighting properties.
Major players in the ursolic acid industry are Sabinsa, Sami Labs, Changsha Staherb Natural Ingredients, Shaanxi Jintai Biological Engineering, Hunan NutraMax, Changsha E.K HERB, Xi an TonKing, Geneham Pharmaceutical, TCI Chemicals (India) Pvt. Ltd., MP Biomedicals, and Cayman Chemical Company.
Ursolic Acid Global Market Report 2021 – By Type (25% Ursolic Acid, 50% Ursolic Acid, 90% Ursolic Acid, 98% Ursolic Acid), By Form (Powdered Form, Capsules, Liquid Form), By End-Use (Pharmaceuticals, Food And Beverage, Cosmetics, Nutraceuticals), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides ursolic acid market overview, forecast ursolic acid market size and growth for the whole market, ursolic acid market segments, and geographies, ursolic acid market trends, ursolic acid market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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