Global Plant Extracts Market Size, Trends, and Growth Opportunity, By Type (Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors & Fragrances, and Others), By Application (Pharmaceuticals, Dietary Supplements, Food & Beverages, Cosmetics, and Others), By Region and Forecast to 2030
Global Plant Extracts Market
The Global Plant Extracts Market was valued at USD 6.3 billion in 2022 and is expected to reach USD 8.4 billion by 2030, at a CAGR of 3.66 % during the forecast period 2023- 2030.
Plant extracts are substances or specific components with advantageous features that are taken out of a plant's tissues and often processed with a solvent for a particular usage. The extracted content may be in liquid or solid form, and it is treated with a fluid solvent after being solubilized. The word "extract" is frequently overused today. Although it can only be processed and produced through solid/liquid extraction, simply crushed plant powders are frequently marketed as "extracts." Many industries use plant extracts as a raw materials to create their goods. Plant extracts are frequently utilized in dietary supplements, cosmetics, food & beverage, pharmaceutical, and pet food industries.
Market Drivers
The market is being driven by elements including consumer awareness, shifting lifestyles, rising consumption of products made with natural ingredients, and biotechnology developments. The demand for natural extracts has also increased over the past few years as a result of macroeconomic variables such as rising consumer disposable incomes, R&D, imports and exports, expansion of the agriculture sector, aging of the population, and population growth.
Market Restraints
The absence of cutting-edge biotechnologies for effective extraction in developing nations, as well as ineffective supply chains and price sensitivity hampering the market growth. In Addition, several nations, including China and India, have relatively low levels of awareness regarding the use of dangerous agrochemicals in organic farming and production. This aspect limits the prospects for growers and farmers that produce goods that must meet specific criteria, such as organically certified goods in several European nations.
COVID-19 Impact
The COVID-19 outbreak slowed down the development 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 businesses a chance to maintain their business strategies and relationships with their supply chains.
Market Segmentation
The Global Plant Extracts Market is segmented into Type and Application
Based on Type, the market is divided into Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors & Fragrances, and Others
Based on Application, the market is classified into Pharmaceuticals, Dietary Supplements, Food & Beverages, Cosmetics, and Others.
Regional Analysis
The Global Plant Extracts Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Europe is anticipated to dominate the market during the forecast period. The use of essential oils as scents in cosmetics in European nations presents a wealth of prospects for the producers of such essential oils. Essential oil products are currently responsible for more than 50% of the global demand in this region, according to the CBI (Centre for the Promotion of imports from developing countries), which is primarily driven by the food and beverage, personal care, and natural and organic products industries.
Key Players
Various key players are discussed in the Global Plant Extracts Market Report including: Givaudan, Sensient Technologies, Symrise AG, KangcareBioindustry Co, Ltd., PT. Indesso Aroma, PT. Haldin Pacific Semesta, Vidya Herbs Private Limited, Shaanxi JiahePhytochem Co. Ltd., Synthite Industries Private Ltd., and Döhler
Market Taxonomy
By Type
• Phytomedicines & Herbal Extracts
• Essential Oils
• Spices
• Flavors & Fragrances
• Others
By Application
• Pharmaceuticals
• Dietary Supplements
• Food & Beverages
• Cosmetics
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Plant Extracts Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Plant Extracts Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Plant Extracts Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Plant Extracts Market Share Analysis, By Type
5.3 Global Plant Extracts Market Size and Forecast, By Type
5.3.1. Phytomedicines & Herbal Extracts
5.3.2. Essential Oils
5.3.3. Spices
5.3.4. Flavors & Fragrances
5.3.5. Others
6 Global Plant Extracts Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Plant Extracts Market Share Analysis, By Application
6.3 Global Plant Extracts Market Size and Forecast, By Application
6.3.1 Pharmaceuticals
6.3.2 Dietary Supplements
6.3.3. Food & Beverages
6.3.4. Cosmetics
6.3.5. Others
7 Global Plant Extracts Market, By Region
7.1 Global Plant Extracts Market Share Analysis, By Region
7.2 Global Plant Extracts Market Size and Forecast, By Region
8 North America Plant Extracts Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Plant Extracts Market Share Analysis, By Type
8.3 North America Plant Extracts Market Size and Forecast, By Application
8.4 North America Plant Extracts Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Plant Extracts Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Plant Extracts Market Share Analysis, By Type
9.3 Europe Plant Extracts Market Size and Forecast, By Application
9.4 Europe Plant Extracts Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10 Asia Pacific Plant Extracts Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Plant Extracts Market Share Analysis, By Type
10.3 Asia Pacific Plant Extracts Market Size and Forecast, By Application
10.4 Asia Pacific Plant Extracts Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Plant Extracts Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Plant Extracts Market Share Analysis, By Type
11.3 Latin America Plant Extracts Market Size and Forecast, By Application
11.4 Latin America Plant Extracts Market Size and Forecast, Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Plant Extracts Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Plant Extracts Market Share Analysis, By Type
12.3 Middle East Plant Extracts Market Size and Forecast, By Application
12.4 Middle East Plant Extracts Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
15.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Givaudan
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Sensient Technologies
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Symrise AG
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 KangcareBioindustry Co, Ltd.
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 PT. Indesso Aroma
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 PT. Haldin Pacific Semesta
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Vidya Herbs Private Limited
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Shaanxi JiahePhytochem Co. Ltd.
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Synthite Industries Private Ltd.
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Döhler
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
