Global Plant Extracts Market

Herbal extracts are plant extracts, which have medicinal properties and are a rich source of several active compounds, such as alkaloids, steroids, tannins, glycosides, volatile oils, phenols, and flavonoids. These active compounds are found in various parts of the plants, including leaves, flowers, bark, seeds, fruits, and roots. Herbal extracts are extracted with the help of different solvents. Increased demand for plant extracts in dietary food supplements and group development is projected to drive the global plant extract market. Increasing incidences of rashes and inflammation caused by the consumption of products containing synthetic chemicals followed by growing awareness for the therapeutic properties of herbs are directly influencing the growth of the herbal extracts market across the globe. However, Inadequate supply of raw materials and price fluctuation control’s the market growth. Lack of awareness about the advantages offered by plant extracts in developing countries. Also, Rise in awareness regarding the side-effects of synthetic flavors, Growth in R& D activities, Increase in popularity of convenience foods in boosting the demand for plant extracts. Health benefits offered by phytomedicines and herbal likely to increase the market growth during the forecast period.

Global Plant Extracts Market is valued at approximately USD 44.43 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.0 % over the forecast period 2021-2027 and is estimated to reach USD 66.81billion by 2027.

The regional analysis of the global Plant extract market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing geriatric population and promptness & affordability of Plant extract products. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2021-2027. Factors such as Awareness of health, Demand for organic products would create lucrative growth prospects for the Plant extract product market across the Asia-Pacific region.

Major market players included in this report are Naturex, Berkem, Kuber Impex Ltd., Network Nutrition, Organic Herb Inc., Qualiphar-Gifrer, Native Extracts Pty. Ltd. (Australia), Tokiwa Phytochemical Co., Ltd., Synthite Industries Private Ltd. (India), and Döhler (Germany)

The detailed segments and sub-segment of the market are explained below:
By Type: Spices, Essential Oils, and Natural Extracts, Flavors and Fragrance, Phytomedicines and Herbal Extracts, Phytochemicals, Others

By Application: Pharmaceuticals, Food, and Beverages, Others

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Bizwit Research & Consulting LLP