Lemon balm also known as Melissa officinalis, is considered to have a calming effect. It was used in middle ages to reduce stress and anxiety, improve appetite, promote sleep, and ease pain and discomfort from indigestion. It is now often combined with other calming, soothing herbs, such as valerian, chamomile, and hops, to promote relaxation. It is also used in creams to treat cold sores. Lemon balm with its lemon like flavor is used in culinary dish as an additive. It has been used to sweeten jam, jellies, and as a flavoring for various fish and poultry dishes and liqueurs. Further, lemon balm is used for making perfumes, cosmetics, and in furniture polish manufacturing.
This extract is gaining significant acceptance for the patients suffering from anxiety, due to its herbal nature and increasing consumers trust on herbal medicines. This is expected to fuel the market growth of lemon balm extract during the forecast period.
The Lemon balm extract is segmented on the basis of formulation, end use and region. Lemon balm extract is segmented on the bases of formulations as liquid, capsules, powder and cream/paste.
On the basis of end use lemon balm extract is segmented as herbal preparation and as additives. The herbal preparations are expected to witness substantial growth attributed to the increasing consumer confidence in herbal products. As an ingredient lemon balm extract is further sub-segmented into cosmetic use, flavors, fragrances and others. This diverse use of lemon balm is creating a high demand in cosmetic and fragrance industry and is anticipated to drive the lemon balm market during the forecast period.
On the basis of region the Lemon balm extract is be segmented into the following key regions; Western Europe, North America, Asia Pacific, Middle East and Africa. The Western European region with countries like Germany using Lemon balm as the main ingredient of Carmelite water(as alcoholic extract of lemon balm used as a herbal tonic), which is still for sale in German pharmacies is expected to drive the lemon balm extract market. The North American region has registered an ever increasing demand in herbal products and the acceptance continues to grow contributing to a major factor for growth in the region. Herbal dietary supplements in the United States increased by 7.9% in 2013(American Botanical Council). The Asia pacific region being the traditional producers of lemon balm extract, it is also expected to see a steady increase in the market growth due to large population’s belief in traditional remedies.
Increasing acceptance of herbal extracts in developed countries such as America and Western Europe attributed to its popularity as safe to use product is driving the herbal extract market and in turn fueling the growth of lemon balm extract. The blending ability of lemon balm extract with other synergistic herbal compounds such valerian extract has led to development of various herbal formulations and thus creating a high demand for lemon balm extract. The versatility in use of lemon balm extract with its wide range of applications in cosmetic, flavors, and fragrances are expected to drive the global lemon balm extract market and show a significant growth in terms of both volume and value in the forecast period.
Some of the key players participating in the global Lemon balm extract market includes; Martin Bauer GmbH & Co. KG., Nexira Inc., Jiaherb Inc., Foodchem International Corporation., Productos Quimicos Gonmisol SA., Xi’an Hao-Xuan Bio-Tech Co., Ltd.
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