Global Plant Extracts Market Report 2022: Growing Market for Nutraceuticals and Herbal Supplements Fuels Sector
DUBLIN, Oct. 24, 2022 /PRNewswire/ -- The "Plant Extracts Market by Product Type (Oleoresins, Essential Oils, Flavonoids, Alkaloids, Carotenoids), Application (Food & Beverages, Cosmetics, Pharmaceuticals, Dietary Supplements), Form, Source and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global plant extracts market size is estimated to be valued at USD 34.4 billion in 2022 and is projected to reach USD 61.5 billion by 2027, recording a CAGR of 12.3% in terms of value. Plant extracts are produced from various sources, such as fruits and vegetables, herbs and spices, and flowers.
They are used in numerous applications for the food, beverage, cosmetics, and pharmaceutical industries. Plant extracts has been experiencing increased demand due to changes in the lifestyle of consumers and their preferences for natural and organic products. Consumers are increasingly aware of the health benefits associated with the plant extracts, which provides an increasing opportunity for manufacturers for incorporating these plant extracts in various applications.
These markets seem to develop and formulate new products and technologies using plant ingredients, resulting innovation, and implementing groundbreaking products with an array of applications. These ingredients are also used in cosmetics and skincare preparation, and this market is booming due to increased awareness related to maintaining healthy skin. The other factors, such as healthy aging and the threat of antimicrobial resistance, also contribute to this significantly. Likewise, within the food & beverages industry, there is a growing trend of consuming natural ingredients with additional functional properties, which has been boosting the demand for plant extracts
By application, there is increased use of plant-based medicines, driving the growth of plant extracts market
Plant extracts have served as an important source of bioactive compounds for various drug discovery programs, and several important drugs have been isolated and identified from plants. Beyond their direct use in traditional medicine, medicinal plants are used on an industrial scale to produce total extracts and tinctures, purified extracts, and chemical products. Regulatory approval of some of the more widely known medicinal herb extracts has potentially been made easier than that of new chemical entities. Some Phyto pharm chemical companies are focusing their efforts on single molecules or plant extracts with the aim of simplifying the regulatory process by avoiding complex mixtures and combinations.
By source, increase in use of flower extracts in cosmetics industry and fragrance drives the growth of plant extract market
Extracts from flowers are used in several applications, ranging from food & beverages to pharmaceuticals & dietary supplements. In the food & beverages application, flowers and fruits are generally used to provide flavors and aroma. Essential Oils from flowers, when incorporated into finished products impart various benefits, such as a pleasant aroma in perfumery, shine or conditioning effects in hair care products, and improving the elasticity of the skin. Significantly high application potential of flower extracts is also used in fragrances. Extracts from some other flowers such as Hibiscus, Chamomile, Magnolia, and Echinacea are highly used in Pharmaceuticals and dietary supplement applications due to the various therapeutic effects they offer.
Market Dynamics
Drivers
- Demand for Essential Oils from Cosmetics Industry
- Increasing Demand for Natural Ingredients and Clean Label Products
- Growing Market for Nutraceuticals and Herbal Supplements
- Adverse Side-Effects of Synthetic Flavors
Restraints
- Lack of Standardization and Varying Regulations and Quality Standards
- Price Fluctuations and Inadequate Supply of Raw Materials
Opportunities
- Technological Intervention in Production Processes
- Growing Trend of Veganism Among Consumers
- Government Initiatives to Promote Natural Ingredients
Challenges
- Lack of Downstream Processing Facilities and Resultant Microbial Contamination
- Adulteration and Cost Margins for Natural Additives Compared to Synthetic Counterparts
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Plant Extracts Market, by Type
8 Plant Extracts Market, by Application
9 Plant Extracts Market, by Source
10 Plant Extracts Market, by Form
11 Plant Extracts Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent & Related Markets
15 Appendix
Companies Mentioned
- ADM
- Alchemy Chemicals
- Arjuna Natural
- Blue Sky Botanics
- Carbery Group
- Cargill, Incorporated
- Dsm
- Dohler
- Givaudan
- Indesso
- International Flavors & Fragrances Inc.
- Kalsec Inc.
- Kangcare Bioindustry Co. Ltd.
- Kerry Group plc
- Martinbauer
- Native Extracts Pty Ltd
- Plantnat
- Prinova Group LLC
- Sensient Technologies Corporation
- Shaanxi Jiahe Phytochem Co. Ltd (Jiaherb, Inc.)
- Sydler India Pvt. Ltd.
- Symrise
- Synthite Industries Ltd
- Tokiwa Phytochemical Co. Ltd.
- Vidya Herbs
- Vital Herbs
- Weaknesses and Competitive Threats
For more information about this report visit https://www.researchandmarkets.com/r/91668j
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SOURCE Research and Markets
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