Market overview:
Roselle Market has been valued $ 123.8 billion in the year 2019 and it is estimated to reach $253.6 billion by the year 2026, with a CAGR of 7.6% from 2021 to 2026. Roselle is most commonly known as a tropical plant, and also known as Hibiscus sabdariffa and it is of the mallow family, grown for its thick, red calyx and bracts, and these Roselle is most commonly known used in the making of jellies jam, juice, wine, syrup, gelatin, cake, ice cream, and others and also as a substitute for cranberries .These Roselle is used in animal feed , and as an annual crop used in food, nutraceuticals, cosmeceuticals, and pharmaceuticals, these are the main factors that have considerably increased the demand for the Roselle.
Market Drivers and Restrains:
The main factors that have considerably increased the demand for the Roselle in the market is mainly because it has several health benefits like rich in antioxidants such as polyphones, which include flavonoids and catechins, the demand for herbal tea comprising roselle includes vitamins C, K, B12, B6, and E, minerals trace amount of potassium, manganese, magnesium, and calcium, and amino acids these are the health benifits associated with the Roselle. Roselle powder has more beneficial for hair and skin and it is widely used in the cosmetic and personal care products such as hair oils and soaps. Roselle is widely used in cosmetics, bakery, & confectionery industries; these are the main factors that have considerably increased the demand for the, thereby driving the hug growth of the Roselle market in the upcoming years.
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Report is segmented as:
Roselle Market is segmented on the basis of by form, on the basis of by end user, on the basis of by sales channel:
* Roselle Market is segmented on the basis of by form into Liquid, Powder
* Roselle Market is segmented on the basis of by end user into Animal feed, Pharmaceuticals, Food & Beverages, and Cosmetics & Nutraceuticals
* Roselle Market is segmented on the basis of by sales channel into online stores, Specialty stores, Supermarket/Hypermarket, and Others
Geographical Segmentation:
Roselle Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Roselle, followed by Europe, Latin America and Middle East & Africa will register a slower increase in the Roselle Market
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Impact of COVID-19 on Market
The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate have an effect on of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increase opportunities. COVID-19 will have an occasional have an effect on the Roselle market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Roselle market growth