Plant Extracts Market to reach US$ 57.82 billion with a significant CAGR of 14.8% in the forecast period of 2019-2025
Published | October 2019
BlueWeave Consulting review study of the Global Plant Extracts market anticipated to reach at US$ 57.82 billion with a significant CAGR of 14.8% in the forecast period of 2019-2025.
Increasing preference shift towards herbal phytomedicines over allopathic, among the key factor to drive the growth of the global plant extracts market in upcoming years. Changing lifestyle pattern, increasing stress and chronic diseases increasing the demand for regular food and supplement consumption associated with minimal side effects makes the market lucrative propel the demand for plant extracts in the upcoming years.
Rising R&D activities expected to dominate the global plant extracts market
Factors such as increasing R&D activities, growing plant extract advantages awareness among the public over synthetic products, enhancement in demand for food-boosting convenience, health benefits associated with herbal and phytomedicines over other drugs contributing to rising demand for plant extracts in the global market during the forecast period of 2019-2025. Multi-purpose outcome form single plant extract is the significant growth driven factor for increasing R&D in plant extracts industry.
Rising technological advancement in extraction processes, reduction in time for processing, rising competition in terms of quality is the key factor that directly leads to drive the significant growth in global plant extracts market. An increase in health-conscious population with disposable income and the rising popularity of convenience foods anticipate d to boost the demand for plant extracts.
Phytomedicines segment anticipated dominating the global plant extracts market in the forecast period
The rising industrial application associated with herbal extract and phytomedicines such as skincare, functional food, and cosmetics coupled with rising health benefits is the key factors to drive the demand of the phytomedicines segment in the global market. Factors such as rising premium lifestyle changes, healthy eating trends, inclination toward herbal product propelling the demand of global plant extract market in the forthcoming years. In addition, engaged advantages such as antioxidant and antimicrobial properties make phytomedicines market lucrative in terms of value. Enhancement rate of essential oil consumption, huge availability of aromatic medicinal plant coupled with rising food and beverages industry contributes to global market growth during the forecast period of 2019-2025.
North America is expected to hold the largest share in the plant extracts the market.
Rising demand of organic extracts for the formulation of product in various industries such as cosmetic, pharma, food, etc., growing concern related to OTC medication side effects, increasing awareness associated with antimicrobial efficacy of herbal extract. Europe market to share second major market share contributions with factors such as the enhancement rate of essential oil consumption, huge availability of aromatic medicinal plants coupled with the rising food and beverage industry. Emerging economies such as China, India creating a positive impact on the growth of plant extract market with an increasing demand of Chinese plant extract, technological advancement coupled with rich medicinal plant heritage during the forecast period of 2019-2025.
Browse Detailed Analysis with TOC, “Global Plant Extracts Market by Type (Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors & Fragrances), By Application (Pharmaceuticals & Dietary Supplements, Food & Beverages, Cosmetics), By Source (Fruits, Flowers, and Bulbs, Bark, Leaves etc.), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2015-2025”
Plant extracts market: competitive landscape
Some of the major industry players are Givaudan, International Flavors & Fragrances, Inc. (IFF), Sensient Technologies, Symrise AG, Döhler, Synthite Industries Private Ltd., PT. Indesso Aroma, PT. Haldin Pacific Semesta, Vidya Herbs Private Limited, Arjuna Natural Extracts Ltd. and Other Prominent Players.