NEW YORK, Dec. 19, 2023 /PRNewswire/ — The roselle market is expected to grow by USD 69.39 million from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 7.82% during the forecast period. The health benefits of roselle are notably driving the roselle market. However, factors such as the presence of substitute products may impede market growth. The market is segmented by distribution channel (offline and online), product (powder and liquid), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format 

Key Segment Analysis

• The offline segment is estimated to witness significant growth during the forecast period. Sales of roselle-derived products are stimulated by a growing retail industry and the establishment of numerous outlets. Moreover, a range of goods is made available under one roof to consumers at these outlets. Furthermore, consumers are also being provided with a large number of discount offers at these outlets for advertising purposes. Moreover, it is expected that more supermarkets are introducing supplement varieties such as roselle products into the market. In addition, the popularity of supermarkets and convenience stores is driven by their multiutility outlets, a large mix of goods, and extended hours of operation. Hence, these factors are expected to drive segment growth during the forecast period.

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Geographical Market Analysis 

• North America is estimated to contribute 30% to the growth of the global market during the forecast period. Rising consumer awareness of the benefits of medicinal products and their therapeutic effects is one of the main factors driving growth in the roselle market in North America. Consequently, there has been a growing demand in this area for herbal extracts like roselle that can be used as nutritional supplements and cosmetic products. In addition, the number of obese people is rising, cardiovascular disease and other disorders brought on by a lack of essential nutrients, and the consumption of synthetic foods and beverages are becoming more common, and these factors are driving the use of roselle in food and beverage products in the countries like the US and Canada. Hence, these factors are expected to drive market growth in the region during the forecast period.

Company Insights 

The roselle market is concentrated, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Apple Food Industries, Aromica, Atlantis Arena Sdn Bhd, Buddha Teas, Cultivator Natural Products Pvt. Ltd., Fraser and Neave Ltd., Guangzhou Runming Food Technology Co. Ltd., Pukka Herbs Ltd., Roselle Farms, Roselle India Ltd., Teacurry, Thai Organic Life, The Tao of Tea, and US Wellness LLC

View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

The Aloe Vera Extracts Market size is projected to increase by USD 1,366.51 million and the market size is estimated to grow at a CAGR of 8.62% between 2023 and 2028.

The avocado market size is forecast to increase by USD 5.67 billion between 2022 and 2027, accelerating at a CAGR of 6.58%. 

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel 

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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