According to the analysis of Reports and Data The Plant Extracts Market is estimated to be valued at USD 26.32 Billion in 2020 and is projected to reach USD 82.25 Billion by 2028, at a CAGR of 17.4% from 2020 to 2028. Rising demand for plant extracts from end-use applications such as food & beverages, cosmetics & pharmaceuticals to present flavor, color, and food is driving the plant extract demand. A shift in consumer choice towards the consumption of herbal medicines is again fueling the plant extract market. Side-effects linked with the synthetically prepared drugs leading to several disorders have drastically improved the consumer preference towards the safe & herbal substitute. This, in turn, has propelled the market growth. The rising demand for extracted or herbal supplements are impacting the plant extracts market growth positively.
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Key companies profiled in the report include:
- Givaudan (Switzerland)
- Sensient Technologies (US)
- Symrise AG (Germany)
- Kangcare Bioindustry Co. Ltd. (China)
- Indesso Aroma (Indonesia)
- Haldin Pacific Semesta (Indonesia)
- Vidya Herbs Private Limited (India)
- Co Tokiwa Phytochemical. Ltd.
- Native Extracts Pty. Ltd. (Australia)
- Shaanxi Jiahe Phytochem Co. Ltd. (Jiaherb, Inc.) (China)
- Synthite Industries Private Ltd. (India)
- Döhler (Germany)
- International Flavors & Fragrances Inc. (US)
- Martin Bauer GmbH & Co. KG (Germany)
- Arjuna Natural Extracts Ltd. (India)
The market research report on Plant Extracts market has been formulated through thorough primary and secondary research with data insights from industry experts and professionals. It covers SWOT analysis, PESTEL analysis, Porter's Five Forces analysis, feasibility analysis, and investment return analysis. Statistical data has been organized into charts, tables, diagrams, and other pictorial representation.
Further key findings from the plant extracts market report suggest:
- By fragrances, essential oils are extensively used in the fragrance section, derived from plant materials and represent the typical flavor and aroma of a distinct plant. They are thus low-volume, very high-value commodities. This makes them attractive crops for remote smallholders where high transport costs prevent the transport of lower price cash crops. Although hydro-steam and steam distillation are the most well-known procedures for obtaining essential oils from plants, there are several other methods that are used to remove and concentrate the aromatic constituents from plant substances.
- By application, the food & beverage segment is dominating the end-use division of the market as plant extracts are anti-oxidant, color & flavor enhancer, and immunity booster in nature, thereby stimulating the plant extracts market development.
- The APAC segment is anticipated to dominate the global plant extracts market during the forecast period due to the easy availability of medicinal plants like India, and China is predicted to accelerate the growth of the plant extracts market. Furthermore, the presence of numerous plant-based producers and augmented adoption of alternative medicines such as ayurveda and homeopathy are expected to promote the global plant extracts market in this region. Regions such as Thailand and Indonesia are spending heavily in plant-based research and developments to inject innovative plant-based products in their domestic market. North America is anticipated to grow rapidly due to its increasing consumption in herbal and natural supplements. This growth is mainly due to the rising number of people turning vegan or inclining towards a healthy lifestyle.
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The report further segments Plant Extracts market on the basis of product types, applications, technology, end-use, and others. It also offers insights into the segments expected to show lucrative growth over the forecast period and the key trends and demands influencing the revenue growth of the segment.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Reports and Data have segmented plant extracts on the basis of type, application, source, and region:
Based on type, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Essential oils
- Flavors & fragrances
- Phytomedicines & herbal extracts
Based on the source, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Fruits, flowers, and bulbs
- Rhizomes & roots
- Barks & stems
- Others (seeds, pods, and berries)
Based on application, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028) Pharmaceuticals & dietary supplements
- Food & beverages
- Others (personal care products and toiletries)
The regional analysis includes examinations of the major geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report covers import/export ratio, supply and demand trends, consumption patterns, production and consumption ratio, revenue generation, revenue share, market share, market size, technological advancements, government regulations, gross profit and margin, and other key factors. It also offers a country-wise analysis to provide in-depth assessment of the regional spread of the Plant Extracts market.
Regional analysis includes:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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