Plant Extract Market is estimated to be US$ 32.5 billion by 2022 with a CAGR of 4.6%.

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Plant Extract Market - PMI

Plant Extract Market – PMI

The report “Plant Extract Market, By Type, By Forms, By End-Users – Trends, Analysis and Forecast till 2032’’

COVINA , CALIFORNIA, UNITED STATES, March 24, 2023/EINPresswire.com/ — According to the latest research study, the demand of Plant Extract Market accounted for US$ 32.5 billion in 2022 and is estimated to be US$ 49.9 billion by 2032 and is anticipated to register a CAGR of 4.6%.

The plant extract market involves the extraction of natural ingredients from various plant sources, including fruits, vegetables, herbs, and flowers. These extracts are used in a wide range of industries, including food and beverage, pharmaceuticals, cosmetics, and agriculture. Some of the most commonly used plant extracts include turmeric, ginger, ginseng, and echinacea. The market is driven by increasing demand for natural ingredients, growing awareness about the health benefits of plant extracts, and rising use in the food and beverage industry as natural food preservatives and flavors. The market is expected to continue growing in the coming years, with increased research and development in the field of plant extracts and growing consumer interest in natural and organic products.

Report Metrics:

Report Attribute – Details

Market Size – US$ 32.5 billion

CAGR – 4.6%

Base Year – 2022

Forecast Period – 2020 – 2032

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Key Highlights:

• In February 2021, Givaudan’s active beauty department (Active Beauty) utilizes the beauty properties of nootropic materials to introduce 6 plant extracts that are beneficial to the skin. The 6 extracts are extracted from guarana, ginger, green tea, kola nut, ginkgo biloba and green coffee. Nootropic materials have an auxiliary effect on improving executive functions such as memory, creativity and motivation. Givaudan is currently focusing on its beauty properties, including soothing and purifying the skin and moisturizing.

• In January 2019, Pierre Fabre has announced the launch of Green Native Expression, a new patented extraction technology, natural and eco-friendly. Eight years of research and development were required for Pierre Fabre to develop this process that works without adding water or solvent.

Analyst View:

The key factor driving the growth of the plant extract market is increasing demand for plant extracts from the pharmaceutical sector due to rising costs of conventional allopathic medicines and their associated side-effects. Another factor projected to assist the target market’s expansion during the forecast period is rising demand for plant extracts as people become more aware of the health benefits connected with herbal medicines and herbal products. Furthermore, to suit consumer preferences, food and beverage firms have begun introducing natural ingredients into their goods. However, rising use of natural skin care products and rising demand of plant extract in food & beverage industries has given rise in target market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Key Market Insights from the report:

Plant Extract Market accounted for US$ 32.5 billion in 2022 and is estimated to be US$ 49.9 billion by 2032 and is anticipated to register a CAGR of 4.6%. The Plant Extract Market is segmented based on Type, Forms, End-Users and Region.

• Based on Type, Plant Extract Market is segmented into Herbal Extracts, Phytochemicals, Spices, Essential Oils and Natural Extracts, Flavors and Fragrances, and others.

• Based on Forms, Plant Extract Market is segmented into Powder, Liquid, and others.

• Based on End-Users, Plant Extract Market is segmented into Pharmaceuticals, Cosmetics, Functional Food and Beverages.

• By Region, the Plant Extract Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

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Competitive Analysis:

The prominent players operating in the Plant Extract Market includes, Givaudan, Symrise AG, Indesso Aroma, Synthite Industries Private Ltd., Arbro Pharmaceuticals Pvt. Ltd., Leaven Essential Pvt. Ltd., Plant Extracts International Inc., Network Nutrition Pty Limited., Ingredia Inc., Alkaloids Corporation, Nantong Sihai Plant Extracts Co. Ltd., Kangcare Bioindustry Co. Ltd., and others.

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Drivers and Restrains of Plant Extract Market:

Drivers:

• Growing demand for natural ingredients: There is increasing demand for natural and organic products across various industries, including food and beverage, pharmaceuticals, and cosmetics. Plant extracts are seen as a natural and sustainable alternative to synthetic ingredients.

• Health benefits of plant extracts: Many plant extracts have been found to have health benefits, including antioxidant, anti-inflammatory, and anti-cancer properties. As a result, there is growing interest in plant extracts as functional ingredients in dietary supplements and nutraceuticals.

• Increasing use in the food and beverage industry: Plant extracts are used as natural food preservatives and flavors in the food and beverage industry, as consumers are increasingly concerned about the use of synthetic additives and preservatives.

• Research and development: Advances in extraction techniques and technology have led to the development of new and innovative plant extracts, which are driving the growth of the market.

Restrains:

• Seasonal availability of raw materials: Many plant extracts are sourced from seasonal crops, which can lead to fluctuations in supply and pricing.

• Quality control issues: Ensuring the quality and consistency of plant extracts can be a challenge, as the chemical composition of the plant can vary depending on factors such as soil conditions, weather, and harvesting techniques.

• Stringent regulatory requirements: The use of plant extracts in various industries is subject to strict regulatory requirements, which can limit market growth.

• Competition from synthetic ingredients: While there is growing demand for natural ingredients, synthetic ingredients are often cheaper and easier to produce, which can limit the growth of the plant extract market.

Key Reasons to Purchase:

1. Comprehensive market analysis: A report on the plant extract market provides a detailed analysis of the market, including key trends, drivers, restraints, and opportunities. This can help businesses and investors make informed decisions about their strategies and investments in the market.

2. Insights into market segmentation: The report can provide insights into the various segments of the plant extract market, including by source, application, and geography. This can help businesses and investors identify potential areas of growth and opportunity.

3. Competitive analysis: The report can provide an overview of the key players in the plant extract market, including their market share, strategies, and product portfolio. This can help businesses and investors understand the competitive landscape of the market.

4. Industry trends and developments: The report can provide insights into the latest industry trends and developments, including new product launches, mergers and acquisitions, and technological advancements. This can help businesses and investors stay up-to-date with the latest developments in the market.

5. Forecast and future outlook: The report can provide a forecast of the plant extract market for the coming years, including expected growth rates and market size. This can help businesses and investors plan for the future and make informed decisions about their investments in the market.

For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.

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