Banaba tree (Lagerstroemia speciosa), the tropical flowering tree also known as pride of India has been used for making tea by brewing the dried leaves. Banaba leaf extract is still being used as a folk remedy for the treatment of diabetes in India, Philippines and other South East Asian countries. The anti-diabetic effect of banaba leaf extract is due to the presence of corosolic acid as found in clinical studies. With no adverse drug effects being reported, this extract has proven to be of immense potential, providing an alternate and safe method for the treatment of diabetes. The banaba leaf extract has shown a moderate decrease in weight and therefore it is also used in many weight loss formulations. In addition to this banaba leaf extract also helps maintain normal levels of antioxidants. This natural herbal extract has gained significant attraction from diabetic population who are looking for a better and safe diabetes medicine and thus creating a huge demand globally.
Banaba Leaf Extract Market Segmentation
Banaba leaf extract is segmented on the basis of dosage form, distribution channel and region. On the basis of dosage form it is segmented as powder, capsules and tinctures. The capsule formulation being more popular in use, is expected to endure its steady growth rate. However factors like increasing health awareness and availability of quick information online are expected to supplement the growth in sales of capsules formulation.
On the basis of distribution channel banaba leaf extract is segmented as; retail stores, specialty stores, and online retail. The major share of revenue being driven by retail segment, the online retail is expected to attain a superior growth rate and a substantial market share by showcasing the information available on internet.
On the basis of region the banaba leaf extract is segmented into Asia Pacific, North America, Japan Western Europe and Middle East. Japan with its high share in demand attributed to the vast popularity of traditional medicine and its benefits has attracted exporters worldwide and the wide acceptance of herbal health products in other developed countries like United States, Canada, France and U.K. has created a powering demand and thus it is expected to show an accelerated growth during the forecast period.
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