Plant Extracts Market Size, Share, Industry Forecast 2022-2029

 

Plant Extracts Market is projected to grow at a CAGR of 11.3% during the forecast period, 2022-2029.

The factors driving the growth of Plant Extracts Market includes increasing application of essential oils in food and beverages, cosmetic and cleaning products, rising awareness about the health benefits offered by herbal extracts, growing prevalence of diabetes and heart related diseases and improvements in the living standards. Moreover, growing adoption of advanced technologies such as polar-nonpolar-sandwiching (PNS) and Ultrasound assisted extraction (UAE) technologies by manufacturers, Government regulations mandating the use of natural ingredients and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

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However, growth of the Plant Extracts Market is hindered due to variations in the prices of raw materials.

The prominent players operating in the Plant Extracts Market are International Flavors & Fragrances, Inc., Kangcare Bioindustry Co., Ltd., Synthite Industries Private Ltd., Nutra Green Biotechnology Co., Ltd., Carbery Group, Givaudan, Sensient Technologies Corporation, Indesso, Symrise AG and Döhler, among others. 

Based on Source, the Fruits, Flowers, and Bulbs segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of fruits and flowers for enhancing flavors and aroma in food & beverages industry, is propelling Plant Extracts Market size.

Based on Application, the Cosmetics segment is projected to expand at a robust CAGR over the forecast period

As per the Plant Extracts Market Global Industry Forecast, Botanical products are excellent source of vitamins and antioxidants along with rising demand for chemical free products in the cosmetic industry, are some of the factors responsible for growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

Increasing demand for organic products across India, China, and Japan, growing awareness about the benefits of using herbal extract, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Key Development

  • In 2020, Givaudan inaugurated fragrance production facility in Changzhou, China, which will enhance company’s manufacturing output across personal, home and fabric care fragrances through oral care flavors, encapsulated fragrances, and prestige perfumes to serve customers in China and Asia Pacific.

Market Segmentation

Segmentation by Source

  • Fruits, Flowers, and Bulbs
  • Leaves
  • Barks & Stems
  • Rhizomes & Roots
  • Others

Segmentation by Type

  • Phytomedicines & Herbal Extracts
  • Essential Oils
  • Spices
  • Flavors & fragrances

Segmentation by Application

  • Pharmaceutical & dietary supplements
  • Food & beverage
  • Cosmetics
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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