Plant Extracts Market to Grow with a CAGR of 12.29% through 2028
Increasing consumer awareness and demand for natural
and herbal products are factors driving the Global Plant Extracts market in the
forecast period 2024-2028
According to TechSci Research report, “Plant
Extracts Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Plant Extracts Market stood
at USD 34.50 billion in 2022 and is anticipated to grow with a CAGR of 12.29% in
the forecast period, 2024-2028. . Global Plant Extracts Market is experiencing
a remarkable surge driven by a myriad of factors that span consumer
preferences, technological advancements, and the increasing recognition of the
therapeutic and functional properties of plant-derived compounds. In recent
years, the market has witnessed substantial growth, transforming the landscape
of industries ranging from pharmaceuticals and cosmetics to food and beverages.
Global Plant Extracts Market stands at the
intersection of consumer preferences, technological innovation, and the quest
for sustainable and natural solutions. As industries continue to harness the
potential of plant-derived compounds, the market is poised for sustained
growth, offering a tapestry of opportunities for businesses and a wealth of
natural alternatives for consumers.
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The Global Plant Extracts Market is segmented into
product type, application, regional distribution, and company
Oleoresins are concentrated extracts containing both
essential oils and resin components from plants. These viscous substances
capture the essence of the plant, offering a potent blend of flavors, aromas,
and therapeutic properties. Oleoresins find applications in food and beverage,
pharmaceuticals, and cosmetics, providing concentrated and standardized plant
profiles.
Essential oils are highly concentrated hydrophobic
liquids extracted from plants through distillation or mechanical processes.
Renowned for their aromatic properties and therapeutic benefits, essential oils
are extensively used in aromatherapy, skincare, and the food and beverage
industry. Lavender, tea tree, and peppermint oils are popular examples, each
with distinct profiles and applications.
Flavonoids are a class of polyphenolic compounds found
in plants, known for their antioxidant properties. These plant extracts
contribute to the vibrant colors of fruits, vegetables, and flowers. Widely
recognized for their potential health benefits, flavonoids are utilized in the
pharmaceutical and nutraceutical sectors, promoting cardiovascular health and
overall well-being.
Oleoresins, concentrated plant extracts containing
both essential oil and resin, find extensive applications in the food and
beverage industry. Their rich flavor profiles and aromatic qualities make them
valuable as natural flavoring agents in a range of culinary products, including
sauces, condiments, and seasonings. Oleoresins also play a crucial role in the
formulation of fragrances and perfumes due to their intense and lasting scents.
The use of plant extracts in the food and beverage
sector goes beyond flavoring. They are employed as natural colorants,
preservatives, and functional ingredients. Consumers, increasingly conscious of
the ingredients in their food, are driving the demand for clean label products,
making plant extracts a preferred choice for manufacturers aiming to meet this
evolving consumer preference.
The beauty and cosmetics industry is experiencing a
botanical revolution with the incorporation of plant extracts. Known for their
skin-friendly properties, plant extracts are integral to skincare and cosmetic
formulations. From soothing aloe vera to revitalizing herbal extracts,
plant-derived ingredients are at the forefront of the shift towards natural and
sustainable beauty products.
Asia Pacific stands at the forefront of the plant
extracts market, fueled by a rich botanical heritage and a longstanding
tradition of herbal medicine. The region boasts a diverse array of plant
species with unique medicinal and nutritional properties, making it a hotspot
for plant extract production. Countries like China and India have been
instrumental in driving the market, leveraging traditional knowledge and modern
extraction technologies.
The burgeoning demand for natural and herbal products,
both domestically and internationally, propels the growth of the plant extracts
market in Asia Pacific. Additionally, the region's dominance in the production
of key medicinal herbs and spices contributes to its significant role in the
global supply chain.
Europe plays a pivotal role in shaping the global
plant extracts landscape, driven by a strong emphasis on sustainability,
quality, and innovation. European consumers exhibit a high awareness of the
benefits of natural and plant-based products, influencing manufacturers to
incorporate plant extracts in various industries, from food and beverages to
cosmetics and pharmaceuticals.
Stringent regulatory frameworks in Europe contribute
to the market's credibility, ensuring that plant extract products meet rigorous
safety and quality standards. The region's commitment to eco-friendly practices
and ethical sourcing aligns with the global shift towards responsible and
sustainable business practices.
Major companies operating in Global Plant
Extracts Market are:
- Naturex Inc
- Groupe Berkem SA
- Kuber Impex Ltd
- Organic Herb Inc
- Plant Extracts International Inc
- Network Nutrition Pty Ltd
- Nantong Sihai plant extracts Co ltd
- Phytovation Ltd
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“The growing acceptance and legalization of
cannabinoids, particularly CBD, have catapulted plant extracts into new
frontiers. Cannabinoids are garnering attention for their potential therapeutic
benefits, including anti-inflammatory and stress-relieving properties. The
integration of cannabinoids into diverse product categories, from wellness
supplements to skincare, reflects the dynamic expansion of the plant extracts
market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Plant Extracts Market – Global Industry Size,
Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Product Type
(Oleoresins, Essential Oils, Flavonoids, Alkaloids, Carotenoids, Others), By
Application (Food & Beverages, Cosmetics, Pharmaceuticals, Dietary
Supplements, Others), By Region, Competition”, has evaluated the future growth
potential of Global Plant Extracts Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Plant Extracts Market.
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