Peony is a plant which belongs to the family of Paeoniaceae. Its botanical name is paeonia alboflora is commonly found in the native parts of Asia which includes China and Japan.

New York, NY -- (SBWire) -- 07/13/2018 --Peony is a plant which belongs to the family of Paeoniaceae. Its botanical name is paeonia alboflora is commonly found in the native parts of Asia which includes China and Japan. It is commonly known as white peony root, bai shao yao, as well as Chinese peony. For years it's been used as a source a traditional medicine in china. Peony root bark extract is often given to the person suffering from respiratory tract illnesses and common cold. Peony root bark extract is also very beneficial to tackle menstrual cramps, premenstrual syndrome and polycystic ovary syndrome. The extract of Peony root bark is used to heal muscle injury or cracked skin. Peony root bark extract contains flavonoid and ongoing research has shown peony root bark extract contains is capable to inhibit the growth of the cancer cells in humans.

Market Segmentation:

Peony root bark extract is segment on the basis of application, form and region. On the basis of application market is segmented into cosmetics, food, and pharmaceuticals. Among all these segment application in cosmetics is expected to grow enormously in the coming future, ongoing research on peony root bark extract will also widen the prospect of growth in pharmaceutical industry. Factors such as on the go life style clubbed with the growing popularity of dietary supplements is expected to contribute significantly to the prominence of peony root bark extract market. The growing demand of peony root bark extract is also impacted by the increasing trend where companies are focused upon reformulation of the ingredient's content in food to ascertain its health benefits. On the basis of form the market is segmented powder form and liquid (oil) form. Peony root bark extract has special properties which provide various health benefits such as anti-cancer properties, antioxidant properties and has the ability to control livercirrhosis and upset stomach.

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Market Regional Outlook:

Regional segment for the market of peony root bark extract is divided into seven different regions: North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA. Among these segment Asia is expected to hold relatively higher share, as it is the largest producer and consumer of peony root bark extract. In Asia Pacific region the countries like China and Japan are generating the major revenue. Strong demand from the U.S for peony root bark extracts is expected to play a vital role in increasing the revenue share of the region. In terms of revenue Japan is expected to be the second prominent contributor in the peony root bark extract market. North America is projected to expand at relatively higher CAGR owing to the increasing obesity rates and growing health awareness among consumers. Companies in the peony root bark extract market focus upon leveraging the opportunities posed by emerging economies like India and China to strengthen their geographical presence and expand their revenue base.

Market Drivers:

The rise in demand for anti-ageing cream is expected to drive the growth of global peony root bark extract market. Peony root bark extract is not only a rich source of flavonoid but it also exhibits some special properties such as anti-bacterial property, anti-oxidant property and also reduces the hardening of the arteries. It also helps to cure disorders of the central nervous system, cure muscle cramps and cure whooping cough and neuralgia. These versatile properties of peony root bark extract is attracting the pharmaceutical segment to a significant extent and is anticipated to drive the peony root bark extract market to a greater extent

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Market Key Players:

Some of the key players in peony root bark extract market are Nutra Green Biotechnology Co.,Ltd., Shaanxi NHK Technology Co., Ltd, Shanghai Herbary Biotechnology Co. Ltd., Shandong Yuhua Biotechnology Co., Ltd., CNLAB NUTRITION, Shaanxi Jintai Biological Engineering Co.,Ltd, Neo-Green Pharmaceutical Co., Ltd and Xi'an sgonekbio logical Technology Co., Ltd. among others.