Yarrow Market

According to Stratistics MRC, the Global Yarrow Market is accounted for $477.1 million in 2023 and is expected to reach $771.1 million by 2030 growing at a CAGR of 7.1% during the forecast period. Yarrow, a resilient herb of the asteraceae family, boasts a rich history in folklore, medicine, and culinary arts. With fern-like leaves and clusters of tiny flowers, it thrives in diverse climates worldwide. Ancient cultures revered it for its healing properties, using it to staunch wounds, ease fevers, and treat digestive ailments. In folklore, it's associated with divination and love spells. Modern herbalists value its anti-inflammatory and antiseptic qualities, often incorporating it into teas, tinctures, and salves. Yarrow's presence in gardens attracts pollinators and beneficial insects, making it a cherished ally in both traditional and sustainable practices.

Market Dynamics: 

Driver: 

Rising consumer concerns about the safety and efficacy of synthetic drugs

Companies in the yarrow market may capitalize on the growing demand by expanding their product lines to include more yarrow-based remedies and supplements. This could range from yarrow teas and tinctures to yarrow-based capsules or extracts. As consumers become more wary of synthetic drugs, they may seek out natural alternatives such as yarrow. Yarrow is known for its medicinal properties and has been used traditionally for various health benefits. This could lead to an increase in demand for yarrow-based products driving the growth of the market.

Restraint:

Limited scientific evidence

Limited scientific evidence may lead to decreased consumer confidence in the efficacy of yarrow products. Consumers often rely on scientific research and evidence-based information to make informed decisions about their health choices. Without robust scientific backing, some consumers may be hesitant to use yarrow products, leading to a decline in demand. Moreover companies may face challenges in marketing yarrow products without substantial scientific support for their effectiveness. This could limit investment in research and development within the industry and slow down innovation in yarrow-based products hampering the growth of the market.

Opportunity:

Growing interest in herbal medicine

As interest in herbal medicine grows, there is likely to be an increased demand for yarrow and yarrow-based products. Yarrow has a long history of use in traditional herbal medicine for various ailments, including wound healing, digestive issues, and respiratory problems. With more people turning to herbal remedies, the demand for yarrow is likely to rise. Moreover manufacturers and suppliers in the yarrow market may expand their product offerings to meet the growing demand this could include a wider variety of yarrow-based products such as teas, tinctures, capsules, extracts, and topical preparations.

Threat:

Potential for side effects 

Concerns about potential side effects may lead to decreased consumer confidence in yarrow-based products. Consumers may be hesitant to use yarrow if they perceive it as having a higher risk of adverse reactions compared to other herbal remedies or conventional medications. Additionally the perception of yarrow as having potential side effects could result in reduced demand for yarrow-based products. Consumers may opt for alternative herbal remedies or conventional medications perceived as safer, leading to a decline in sales and market share for yarrow.

Covid-19 Impact

Disruptions in the supply chain, including difficulties in sourcing raw materials and transportation delays, have affected production and distribution. Changes in consumer behaviour, with a shift towards online shopping and increased interest in natural remedies, have influenced demand. However, economic uncertainties and reduced disposable income have tempered market growth. Additionally, restrictions on gatherings and events have limited opportunities for in-person sales and marketing. Overall, while the pandemic has created challenges for the yarrow market, it has also spurred opportunities for innovation and adaptation to new market dynamics.

The achillea millefolium (common yarrow) segment is expected to be the largest during the forecast period

The achillea millefolium (common yarrow) segment is estimated to have a lucrative growth, due to its diverse medicinal properties, including anti-inflammatory, antimicrobial, and digestive benefits, drive consumer interest in yarrow-based products. Yarrow's traditional uses in herbal medicine, coupled with modern scientific research validating its efficacy, contribute to its popularity. Yarrow's versatility enables its incorporation into various formulations such as teas, tinctures, and supplements, fostering a robust market ecosystem.

The traditional medicine segment is expected to have the highest CAGR during the forecast period

The traditional medicine segment is anticipated to witness the highest CAGR growth during the forecast period, owing to consumers' growing interest in natural remedies and their trust in traditional healing practices drive demand for yarrow-based products. Traditional knowledge surrounding yarrow's medicinal properties and therapeutic uses enhances its appeal and credibility. Moreover, the integration of yarrow into traditional medicine formulations and practices further solidifies its position in the market.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the herbaceous perennial plant that grows abundantly in various regions worldwide, including parts of Asia Pacific. Additionally yarrow products, such as yarrow extracts, essential oils, and dried yarrow, may exist within the herbal products industry. Factors such as increasing interest in herbal remedies, natural health products, and alternative medicine could contribute to the demand for yarrow-based products in the Asia Pacific region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the growing trend toward natural and herbal remedies in North America. Yarrow, known for its medicinal properties, has gained popularity among consumers seeking alternative healthcare options. Furthermore yarrow is cultivated in North America, both commercially and in home gardens. Its adaptability to various climates and soil conditions makes it suitable for cultivation in many regions across the continent which encourages the regions market growth.

Key players in the market

Some of the key players in the Yarrow Market include Albert Vieille, Amphora Aromatics Ltd., Carruba Inc., Mother Bay Spice Company, Bristol Botanicals Ltd., NHR Organic Oils, Organic Infusions Inc., SRS Aromatics, Penta Manufacturing, The Good Scent Company, Starwest Botanicals, Neal’s Yard Remedies, Treatt, Florihana, Mountain Rose Herbs, Monterey Bay Spice Company, Gaia Herbs, Herb Pharm, Alvita Teas, and Swanson Health Products 

Key Developments:

In February 2024, NHR Organic Oils has launched a new product range of kits with handpicked oils packaged in tins. They are used in aromatherapy because they can be released into the air and inhaled at room temperature.

In February 2024, Perstorp launches news penta plants in india. This will help to ensure the perstorp can supply products effectively throughout India and across all of Asia. 

In February 2023, Starwest Launches Eco-Pouch Line of Herbs & Spices, the new, smaller pre-packaged line of spices makes for easy grab-n-go purchase and a simple complement to the bulk bin section.

Product Types Covered:
• Achillea Millefolium (Common Yarrow) 
• Achillea Nobilis (Noble Yarrow) 
• Achillea Filipendulina (Fernleaf Yarrow) 
• Other Product Types 
 
Forms Covered:
• Powder 
• Extract 
• Oil 
• Capsules/Tablets 
• Raw/Whole 
• Other Forms 

Distribution Channels Covered:
• Online Retail 
• Specialty Stores 
• Supermarkets/Hypermarkets 
• Pharmacies/Drugstores 
• Direct Sales (B2B) 
• Other Distribution Channels 

Applications Covered:
• Traditional Medicine 
• Pharmaceuticals 
• Food & Beverages 
• Nutraceuticals 
• Aromatherapy 
• Cosmetics 
• Other Applications 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances