Plant Extracts Market
Plant Extracts Market Forecasts to 2028 - Global Analysis By Product (Essential Oils, Flavonoids and Other Products), Form (Liquid and Dry), Source (Fruits & Vegetables, Herbs & Spices and Other Sources), Application (Cosmetics, Pharmaceuticals and Other Applications), Method and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $16.61 BN |
|
Projected Year Value (2028) |
US $26.80 BN |
|
CAGR (2022 - 2028) |
8.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Plant Extracts Market is accounted for $16.61 billion in 2022 and is expected to reach $26.80 billion by 2028 growing at a CAGR of 8.3% during the forecast period. A material derived from plants and herbs is known as a plant extract. It is a source of active substances like alkaloids, steroids, tannins, glycosides, volatile oils, phenols, and flavonoids as well as having therapeutic characteristics. The leaves, flowers, bark, seeds, fruits, and roots of the plant, as well as other parts, contain these active chemicals. Many industries, including those in the food and beverage, cosmetic, pharmaceutical, and other sectors, use plant extracts.
According to the Centre for the Promotion of Imports, around 700 plant-based medicines are available in Germany, which are manufactured by companies such as Heinrich Klenk and Schaper & Brümmer among others and are prescribed by 70% of the physicians in the country.
Market Dynamics:
Driver:
Increasing demand for natural food ingredients
Globally, the organic food sector is increasing at a significant rate. People are becoming more conscious of the harmful effects that chemicals have on their health. The increased consumer focus on health and wellness may be attributed to the rising prevalence of lifestyle disorders such obesity, osteoporosis, diabetes, and cardiovascular diseases. As a result, person’s culinary preferences and attitudes on natural ingredients have shifted. Customers are turning more and more to items that are grown and processed organically as a result of their worries about the effects of chemicals on the environment and their health. As a result, the demand for plant extracts in the food and beverage industry is driven by consumers' growing preference for natural and clean-label products.
Restraint:
Shortage of raw materials
Some plant species are no longer available due to forest degradation and species extinction. The supply is also limited because these medicinal plants are only grown in a few nations. Additionally, because these plants only produce once a year and have limited supply, there is an imbalance in supply and demand. It also has an impact on the cost of raw materials and the expenditure of shortage makes it expensive. It becomes challenging to standardise the final product's price because of these wide price differences. Thus, the above factors are restraining the market growth.
Opportunity:
Rising demand for natural and organic fragrance
Consumers are becoming more and more interested in purchasing exclusively chemical-free goods. Personal care products made from natural and organic ingredients are increasingly popular with consumers. Public awareness of the dangers of synthetic chemicals is rising, which is pressuring manufacturers to include natural substances in their product line-ups. Thus, there is a rising need for plant extracts, particularly in personal care products.
Threat:
Challenges of plant extracts
Crop inadequacies and scarcities were brought on by a slowdown in production, a lack of harvest workers, and a lockdown that affected port closures. These failures are made worse by extreme weather conditions, such as torrential rain in southern Europe or extreme drought and wild fires in Eastern Europe. The spice industry in Europe and the surrounding areas is heavily dependent on imports. The spice trade is directly impacted by irregularities in freight and logistics. Consequences like the scarcity of shipping containers are all-pervasive and result in sharp price increases. The market is constrained because demand exceeds supply, making annual needs risky despite season harvests and disruptions to supply continuity.
Covid-19 Impact
The COVID-19 outbreak has slowed down the expansion of numerous international industries, which has resulted in widespread disruption for both buyers and sellers. Global markets and production facilities have been closed, which has halted the product's production, sale, and marketing. Also, it has given the businesses a chance to maintain their business strategies and relationships with their supply chains.
The herbs & spices segment is expected to be the largest during the forecast period
The herbs & spices segment is estimated to have a lucrative growth, due to consumers' increasing global health concern, plant extracts from herbs and spices are expanding in popularity. The market expansion of this is driven by trendy flavours and flavoured beverages with sustainable and healthy ingredients. Due to their therapeutic properties as an antioxidant, anti-inflammatory, antdiabetic, antihypertensive, and antibacterial, spice extracts like cinnamon and cloves are widely used by beverage manufacturers. As a result, the demand for spice extracts in the healthier beverage industry is booming, driving the growth of the herbs and spices segment during the forecast period.
The food & beverages segment is expected to have the highest CAGR during the forecast period
The food & beverages segment is anticipated to witness the fastest CAGR growth during the forecast period, as it is frequently associated with particular health benefits, such as invigorating, boosting the immune system, enhancing skin health, enhancing focus, and giving relaxation. The use of extracts from various plant components as antioxidants, antimicrobials, flavourings, colouring agents, enzymes, nutrient enhancers, and packaging additives in the food sector has led to the segment's expansion. Plant extracts are utilised as colourants and flavorants in the food and beverage sector to improve the overall nutritional content.
Region with highest share:
Asia Pacific is projected to hold the largest market shares during the forecast period owing to the raw materials are readily available and the atmosphere is conducive to the expansion of the extraction facilities. Also, local businesses are constantly expanding their product lines by focusing on innovation and investing in the market. Also, this region is anticipated to experience the highest growth due to an increase in consumer knowledge of the health advantages of plant extracts as well as an increase in disposable income.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the rising demand for natural ingredients in a variety of foods and beverages. Another key driver of market expansion in the food and beverage sector is product innovation. Due of the strong consumer preference for skincare products made with natural components, plant extracts are being included in radiance and anti-cellulite treatments more frequently.
Key players in the market
Some of the key players profiled in the Plant Extracts Market include Sensient Technologies Corporation, Givaudan, Synergy Flavors, Dohler, Symrise, International Flavours & Fragrance Inc., Synthite Industries Private LTD, Vidya Herbs Private LTD, PT Indesso Aroma, Kalsec Inc., Indena S.P.A, Nutra Green Biotechnology Pvt Ltd, Naturex Inc., Mane Fils SA., Evolva, Prinova Group LLC., Plant Extracts International, Blue Sky Botanics Ltd., Ransom Naturals Ltd and Organic Herb.
Key Developments:
In June 2019, Givaudan, the global leaders of flavors and fragrances, inaugurated its new flagship innovation center in Switzerland. The major aim of this innovation center is to create different and sustainable flavor, taste and fragrance solutions for the food and beverage and beauty, personal and home care industries.
In June 2019, the nutrition division of Symrise Diana Food has opened a new Research and Development Centre in Canada. The creation of new product and processes will be a key focus in new facility.
In May 2019, Givaudan, the global leaders of flavors and fragrances, announced the acquisition of Vietnamese flavor company Golden Frog to strengthen the product portfolio in natural flavor, extracts and essential oils.
Products Covered:
• Essential Oils
• Flavonoids
• Alkaloids
• Oleoresins
• Carotenoids
• Natural Colors
• Dried Crops
• Herbal Extracts
• Spices
• Other Products
Forms Covered:
• Liquid
• Dry
Sources Covered:
• Fruits & Vegetables
• Herbs & Spices
• Flowers & Bulbs
• Barks & Stems
• Rhizomes & Roots
• Other Sources
Applications Covered:
• Cosmetics
• Pharmaceuticals
• Food & Beverages
• Dietary Supplements
• Animal Feed
• Other Applications
Methods Covered:
• Decoction
• Maceration
• Supercritical Fluid Extraction
• Percolation
• Infusion
• Phytonics Process
• Soxhlet
• Microwave Assisted Extraction
• Ultrasound-Assisted Extraction
• Other Methods
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 2020, 2021, 2022, 2025, and 2028
- 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
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Plant Extracts Market, By Product
5.1 Introduction
5.2 Essential Oils
5.3 Flavonoids
5.4 Alkaloids
5.5 Oleoresins
5.6 Carotenoids
5.7 Natural Colors
5.8 Dried Crops
5.9 Herbal Extracts
5.10 Spices
5.11 Other Products
6 Global Plant Extracts Market, By Form
6.1 Introduction
6.2 Liquid
6.3 Dry
7 Global Plant Extracts Market, By Source
7.1 Introduction
7.2 Fruits & Vegetables
7.3 Herbs & Spices
7.4 Flowers & Bulbs
7.5 Barks & Stems
7.6 Rhizomes & Roots
7.7 Other Sources
8 Global Plant Extracts Market, By Application
8.1 Introduction
8.2 Cosmetics
8.3 Pharmaceuticals
8.4 Food & Beverages
8.5 Dietary Supplements
8.6 Animal Feed
8.7 Other Applications
9 Global Plant Extracts Market, By Method
9.1 Introduction
9.2 Decoction
9.3 Maceration
9.4 Supercritical Fluid Extraction
9.5 Percolation
9.6 Infusion
9.7 Phytonics Process
9.8 Soxhlet
9.9 Microwave Assisted Extraction
9.10 Ultrasound-Assisted Extraction
9.11 Other Methods
10 Global Plant Extracts Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Sensient Technologies Corporation
12.2 Givaudan
12.3 Synergy Flavors
12.4 Dohler
12.5 Symrise
12.6 International Flavours & Fragrance Inc.
12.7 Synthite Industries Private LTD
12.8 Vidya Herbs Private LTD
12.9 PT Indesso Aroma
12.10 Kalsec Inc.
12.11 Indena S.P.A
12.12 Nutra Green Biotechnology Pvt Ltd
12.13 Naturex Inc.
12.14 Mane Fils SA.
12.15 Evolva
12.16 Prinova Group LLC.
12.17 Plant Extracts International
12.18 Blue Sky Botanics Ltd.
12.19 Ransom Naturals Ltd.
12.20 Organic Herb
List of Tables
1 Global Plant Extracts Market Outlook, By Region (2020-2028) ($MN)
2 Global Plant Extracts Market Outlook, By Product (2020-2028) ($MN)
3 Global Plant Extracts Market Outlook, By Essential Oils (2020-2028) ($MN)
4 Global Plant Extracts Market Outlook, By Flavonoids (2020-2028) ($MN)
5 Global Plant Extracts Market Outlook, By Alkaloids (2020-2028) ($MN)
6 Global Plant Extracts Market Outlook, By Oleoresins (2020-2028) ($MN)
7 Global Plant Extracts Market Outlook, By Carotenoids (2020-2028) ($MN)
8 Global Plant Extracts Market Outlook, By Natural Colors (2020-2028) ($MN)
9 Global Plant Extracts Market Outlook, By Dried Crops (2020-2028) ($MN)
10 Global Plant Extracts Market Outlook, By Herbal Extracts (2020-2028) ($MN)
11 Global Plant Extracts Market Outlook, By Spices (2020-2028) ($MN)
12 Global Plant Extracts Market Outlook, By Other Products (2020-2028) ($MN)
13 Global Plant Extracts Market Outlook, By Form (2020-2028) ($MN)
14 Global Plant Extracts Market Outlook, By Liquid (2020-2028) ($MN)
15 Global Plant Extracts Market Outlook, By Dry (2020-2028) ($MN)
16 Global Plant Extracts Market Outlook, By Source (2020-2028) ($MN)
17 Global Plant Extracts Market Outlook, By Fruits & Vegetables (2020-2028) ($MN)
18 Global Plant Extracts Market Outlook, By Herbs & Spices (2020-2028) ($MN)
19 Global Plant Extracts Market Outlook, By Flowers & Bulbs (2020-2028) ($MN)
20 Global Plant Extracts Market Outlook, By Barks & Stems (2020-2028) ($MN)
21 Global Plant Extracts Market Outlook, By Rhizomes & Roots (2020-2028) ($MN)
22 Global Plant Extracts Market Outlook, By Other Sources (2020-2028) ($MN)
23 Global Plant Extracts Market Outlook, By Application (2020-2028) ($MN)
24 Global Plant Extracts Market Outlook, By Cosmetics (2020-2028) ($MN)
25 Global Plant Extracts Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
26 Global Plant Extracts Market Outlook, By Food & Beverages (2020-2028) ($MN)
27 Global Plant Extracts Market Outlook, By Dietary Supplements (2020-2028) ($MN)
28 Global Plant Extracts Market Outlook, By Animal Feed (2020-2028) ($MN)
29 Global Plant Extracts Market Outlook, By Other Applications (2020-2028) ($MN)
30 Global Plant Extracts Market Outlook, By Method (2020-2028) ($MN)
31 Global Plant Extracts Market Outlook, By Decoction (2020-2028) ($MN)
32 Global Plant Extracts Market Outlook, By Maceration (2020-2028) ($MN)
33 Global Plant Extracts Market Outlook, By Supercritical Fluid Extraction (2020-2028) ($MN)
34 Global Plant Extracts Market Outlook, By Percolation (2020-2028) ($MN)
35 Global Plant Extracts Market Outlook, By Infusion (2020-2028) ($MN)
36 Global Plant Extracts Market Outlook, By Phytonics Process (2020-2028) ($MN)
37 Global Plant Extracts Market Outlook, By Soxhlet (2020-2028) ($MN)
38 Global Plant Extracts Market Outlook, By Microwave Assisted Extraction (2020-2028) ($MN)
39 Global Plant Extracts Market Outlook, By Ultrasound-Assisted Extraction (2020-2028) ($MN)
40 Global Plant Extracts Market Outlook, By Other Methods (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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