The global Food Pharmaceutical Peony market was valued at 65.58 Million USD in 2021 and will grow with a CAGR of 13.29% from 2021 to 2027, based on Market Report Hub (MRH) newly published report.
The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market vendors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
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The peony is a flowering plant in the genus paeonia. The country-of-origin of peony is from China. Now, peony is transplanted into many countries, such as Japan, Korea, USA, Europe and other countries, especially ornamental peony. Ornamental peony is generally not considered to not have food and pharmaceutical value. Peony comes in many varieties: paeonia decomposita, paeonia abchasica, paeonia anomala, paeonia ostii, paeonia rockii, etc. Many of them are ornamental peony not paeonia ostii, paeonia rockii. Paeonia ostii and paeonia rockii have a lot of food and pharmaceutical value. Their seeds and flower can be used to extract the oil and their roots can be used to extract paeonol. Besides that, the extract of leaf and stem also has food and pharmaceutical value. In a word, the extract of paeonia ostia and paeonia rockii has food and pharmaceutical value.Food/pharmaceutical peony mainly refers to paeonia ostia and paeonia rockii. The seed of paeonia ostia and paeonia rockii can be produce peony seed oil, which is a new resources food in China. The root of paeonia ostia can be extracted paeonol, which is an herbal remedy in traditional Chinese medicine and has anti-inflammatory and analgesic function. Since 2011, NHFPC approved peony seed oil as new resources food, so peony seed oil industry develop rapidly and many flower growers in Anhui, Shandong, Shaanxi province enlarge the culture area of paeonia ostia. Owning to as national flower, paeonia ostia and paeonia rockii is only planted in China, such as Shandong, Anhui, Shaanxi province, and this peony hardly export to other country. So the raw material- paeonia ostia and paeonia rockii of extractive of food and pharmaceutical peony mainly come from China. The production of food and pharmaceutical peony`s extractive is mainly in China, at the same time, other countries also extract paeonol from paeonia ostia`s root. It is estimated that supported by downstream industries, global demand of food and pharmaceutical peony demand will keep increasing with an average growth rate of 37.67% in the coming five years. In addition, similar with that of globe, the production of food and pharmaceutical peony in China will increase from 54.2 MT in 2010 to 243 MT in 2015, accompanied with an average production growth of 52.36% in the coming five years. We tend to believe that this industry still has a bright future, considering the current demand of food and pharmaceutical peony. As for product prices, the slow downward trend in recent years will continue in the next few years, as competition intensifies. Similarly, there will be fluctuations in gross margin.
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By Market Vendors:
Weizhen Guose Agriculture
Martin Bauer Group
Nelsons Natural World
Anhui Fengyang Phytochemistry
Xian Changyue Phytochemistry
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