Hibiscus flower powder is a rich source of antioxidants. It is a major source of natural and organic cosmetics due to its high mucus content and anti-inflammatory and exfoliating properties. Following are the benefits of hibiscus flower powder:
Help in weight loss
Anti-aging properties to make skin firm and prevent wrinkles
Exfoliant: Regenerates skin cells by producing a mild exfoliating effect
Removes dead skin cells
Anti-oxidant properties to keep skin healthy and glowing
The presence of Anti-bacterial properties and vitamin C removes acne
These health and skin benefits associated with hibiscus flower powder increases procurement need for the same from food and beverages and cosmetics industries.
The global hibiscus flower powder market is valued at ~USD 120 million in 2020 and it is expected to grow at a CAGR of 7.5% from 2020 to 2027 due to increasing demand from the food and beverages and personal care industries. The food and beverages segment is leading the global hibiscus flower powder market with more than 45% market share in 2020. However, the personal care segment is expected to witness the highest growth rate among other applications during the forecast period. North America generates the highest demand for hibiscus flower powder, as the region is a key importer of organic compounds. Whereas APAC is the largest producer of hibiscus flower powder due to the presence of large cultivation lands and favorable weather conditions.
Hibiscus flower powder is made from hibiscus flower and procurement of hibiscus flower is the major cost driver of hibiscus flower powder production. The cost of procuring hibiscus flowers accounted for more than 50% of the overall cost of overall hibiscus flower powder production. Other major cost components include processing costs, machinery costs, labor costs, etc. Many North American and European companies are planning to relocate their production base to APAC due to the high availability of raw materials and low-cost labor. It also reduces the additional logistics cost and increases profitability.
The Covid-19 pandemic affected the global hibiscus flower powder industry negatively. As many governments were forced to temporarily halt large-scale industrial operations and restrict international trade, there is a huge disruption in import-export activities of hibiscus flower powder. Moreover, lack of availability of raw material since the beginning of Covid-19 also slump the growth of the global hibiscus flower powder industry.
Bio Organic, Herbeno Herbals, The Republic of Tea, Traditional Medicinals, Bio Actives, Wild Hibiscus Flower Co., Rena Beverage Solutions, Fortune Health Care are some of the key suppliers of hibiscus flower powder. The global hibiscus flower powder market features a moderately fragmented landscape as the industry leaders contribute less than 30% of the overall market share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.
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