Herbal Extract Market size to grow by USD 29.19 billion from 2022 to 2027- Technavio

NEW YORK, Oct. 18, 2023 /PRNewswire/ -- The herbal extract market is expected to grow by USD 29.19 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 12.97% during the forecast period. Increasing demand for food and beverages with herbal ingredients is notably driving the herbal extract market. However, factors such as providing high-quality herbal products may impede market growth. The market is segmented by application (pharmaceuticals, personal care, and others), type (liquid and powder), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format 

Key Segment Analysis

• The pharmaceuticals segment is estimated to witness significant growth during the forecast period. The demand for functional foods and dietary supplements is increasing due to the increasing number of people diagnosed with chronic diseases due to changes in lifestyle and eating habits. Due to the natural components that they are derived from, many extracts can be taken regularly by human beings as supplements. 

To know additional highlights and key points on various market segments and their impact in coming years, View the FREE PDF Sample Report.

Geographical Market Analysis 

• APAC is estimated to contribute 31% to the growth of the global market during the forecast period. Increased consumer awareness of the adverse reactions to allopathy medicines, as well as increased knowledge about the benefits and effects of herbal products, are some of the major factors that have a strong influence on the growth in the market for herbal extracts in the APAC region. As a result, there has been a growing demand for extracts of herbs, dietary supplements, and personal care products derived from them. Furthermore, the increasing number of obese people and the increasing incidence of cardiovascular and other diseases are due to deficiencies in essential nutrients in the diet. 

Company Insights 

The herbal extract market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Dohler GmbH, Herbal Creations, Herbochem, India Essential Oils, K. Patel Phyto Extractions Pvt. Ltd., Kalsec Inc., MB Holding GmbH and Co. KG, Mountain Rose Herbs, Naturalin Bio Resources Co. Ltd., Naturex SA, Organic Herb Inc., Ransom Naturals Ltd., SA Herbal Bioactives LLP, Sami Spices, Shaanxi Jiahe Phytochem Co. Ltd., Starwest Botanicals.com Inc., Synergy Flavors Inc., Synthite Industries Pvt. Ltd., Vidya Herbs Pvt. Ltd., and Natures Way Brands LLC

View the FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The herbal market size is estimated to grow at a CAGR of 6.5% between 2022 and 2027. The market size is forecast to increase by USD 117.37 billion. 

The walnut market size is projected to increase by USD 2,144.65 million and the market size is estimated to grow at a CAGR of 4.93% between 2022 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio