Plant Extracts Market Size, Share & Analysis Report, 2022-2030
The global plant extracts market size was valued at USD 10.19 billion in 2021 and is expected to hit around USD 22.49 billion by 2030, poised to grow at a CAGR of 9.2% during the forecast period 2022 to 2030.
Growth Factors:
The increase in number of health conscious people and also the rising vegan trends are the major factors driving the plant extracts market. According to the United Nations (UN), as of 2021, the global vegan population accounted for approximately 79 million. This huge number is attributable to the rise in awareness related to the health benefits associated with the consumption of plant-based food products among the target consumers. With the changing consumer perceptions related to plant-based food products, some of the key food & beverages manufacturers strategize on including plant ingredients into their marquee final products. This, in turn, triggers the demand for plant extract products among manufacturers. Herbal extracts, Essential Oils, and flavors are the key types of plant extracts that are gaining a higher level of traction in the global market.
Growing trend of veganism and vegetarianism among consumers is also boosting the market of plant extracts during the forecast period. According to the Good Food Institute, the US retail sales of plant-based foods have increased by 20%, accounting for approximately USD 6.7 billion. The largest market for plant-based foods includes plant-based milk and plant-based meat. This trend is expected to boost the demand for various plant extracts in the food & beverage industry as plant extracts can be used to increase the flavor and nutritional value of products
Report Scope of the Plant Extracts Market
|
Report Coverage |
Details |
|
Market Size |
USD 22.49 Billion by 2030 |
|
Growth Rate |
CAGR of 9.2% from 2022 to 2030 |
|
Base Year |
2021 |
|
Largest Market |
Europe |
|
Fastest Growing Market |
North America |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Product, Application, Source, Form, Method, Region |
|
Companies Mentioned |
Givaudan, Sensient Technologies, Symrise AG, KangcareBioindustry Co, Ltd., PT. Indesso Aroma, Vidya Herbs Private Limited, Shaanxi JiahePhytochem Co. Ltd., Synthite Industries Private Ltd., Döhler, International Flavors & Fragrances Inc. |
Product Insights
On the basis of product, the dried crops category dominated the market in 2020, accounting for about 42.3% of total revenue, and is likely to continue to do so throughout the forecast period. Over the projected period, the growing need for dried crops in end-use sectors such as food and beverage is likely to fuel the demand for dried crops. In the food and beverage sector, dried chilli whole is a spice.It is widely accepted in Asia Pacific, where spicy and hot diets are the most popular.
Turmeric oil is an antibacterial, anti-allergic, antimicrobial, antiparasitic, antifungal, anti-worm, and antiviral component.It's becoming more well-known for its anticancer properties, thus it's mostly used in food and beverage and healthcare applications. Furthermore, it is popular in personal treatment and medicinal programs as it has properties that are useful in wide array of treatments such as 20 remedies, 14 cancer-preventive, twelve anti-tumor, and twelve anti-inflammatory molecules, together with 10 anti-oxidants.
Application Insights
On application basis, the food and beverage held the largest market share with more than 45% revenue coming from food & beverages industry. Anti-bacterial properties of plants help maintain food and refreshment products for an extended duration, which is expected to drive the merchandise demand from manufacturers that are focused on increasing the space life of goods without compromising on the quality.
Growing preference of consumer towards natural products above synthetic products and the climbing demand for high-quality products are forcing food and refreshment manufacturers to include healthy and nutritionally betterplant extracts in their product promotions. However, certain essential oils are generally not considered safe for inside use because of their inappropriate chemical contents. According to the Acknowledged as Risk-free (GRAS) list by the FDA, eucalyptus is 1 of the major essential oils that is regarded as hazardous for cosmetic as well as beverage application.
Regional Insights
European region is focusing significantly on plant extracts and hence accounted for around 30.0% market share of the global plant extracts market in 2021. In European countries, use of essential oils in cosmetic makeup products as fragrances offers numerous opportunities to the manufacturers of such essential oils. As per the CBI, the essential oil products demand from Europe accounted for more than 50% of the global demand, which is primarily driven by the natural and personal care and food and beverages companies.
A developed countries where consumers’ standard of living is high, demand for essential oils and floral extracts is boosting over the past few years which, in turn is likely to drive the regional market. Inside Europe, aromatherapy is a serious application of essential oils. Portugal, Austria, Germany, and Switzerland will be the major markets for alternative medicine, which can be used for therapeutic purposes. Typically the Netherlands and the U.K. are also considerable market segments for aromatherapy.
The second-largest essential oil market is in North America, owing to the growing use of tastes and fragrances in foods, beverages, and pharmaceuticals. The presence of the food and beverage and pharmaceutical industries, as well as other end users of tastes and fragrances, characterizes the North American market. The essential oils market in the region has benefited as a result of this.
The second-largest essential oil market is in North America, owing to the growing use of tastes and fragrances in foods, beverages, and pharmaceuticals.The presence of the food and beverage and pharmaceutical industries, as well as other end users of tastes and fragrances, characterizes the North American market. The essential oils market in the region has benefited as a result of this.
In Asia Pacific, India is attractive market in plant extracts industry. Indian market is seeing a fast paced expansion, as there has been a shift in widespread trend from man-made to herbal drugs. India accounts for a wide verities of plants and has one of the earth's richest medicinal vegetable legacy. In addition, plants which comprise of therapeutic agents are really esteemed across the world as they help in prevention of diseases and ailments. With increased ventures as well as demand of plant based extract in various market across the globe from India, there liespromising opportunities for new and existing players to tap the quick-progress market which would garner their market position.
Makers of natural ingredients like oleoresins, essential oils, natural and organic extracts, natural colors are giving more attention to R&D antiquities to provide new more enhanced products to the purchasers.
Some of the prominent players in the Plant Extracts Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Product
By Application
By Sources
By Form
By Method
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Plant Extracts Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Plant Extracts Market
5.1. COVID-19 Landscape: Plant Extracts Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Plant Extracts Market, By Product
8.1. Plant Extracts Market, by Product Type, 2022-2030
8.1.1. Essential Oils
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Oleoresins
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Herbal Extracts
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Natural Colors
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Dried Crops
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Spices
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Flavors & Fragrances
8.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Plant Extracts Market, By Application
9.1. Plant Extracts Market, by Application, 2022-2030
9.1.1. Personal Care & Cosmetics
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Food & Beverage
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Animal Feed
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Pharmaceuticals
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Nutraceuticals
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Plant Extracts Market, By Sources
10.1. Plant Extracts Market, by Sources Type, 2022-2030
10.1.1. Fruits, flowers and bulbs
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Leaves
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Barks & stems
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Rhizomes & roots
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Plant Extracts Market, By Form
11.1. Plant Extracts Market, by Form Type, 2022-2030
11.1.1. Powder
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Liquid
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Plant Extracts Market, By Method
12.1. Plant Extracts Market, by Method, 2022-2030
12.1.1. Maceration
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Infusion
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Decoction
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Percolation
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. Soxhlet
12.1.5.1. Market Revenue and Forecast (2017-2030)
12.1.6. Ultrasound-Assisted Extraction
12.1.6.1. Market Revenue and Forecast (2017-2030)
12.1.7. Supercritical Fluid Extraction
12.1.7.1. Market Revenue and Forecast (2017-2030)
12.1.8. Phytonics Process
12.1.8.1. Market Revenue and Forecast (2017-2030)
12.1.9. Microwave Assisted Extraction
12.1.9.1. Market Revenue and Forecast (2017-2030)
12.1.10. Others
12.1.10.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Plant Extracts Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.3. Market Revenue and Forecast, by Sources (2017-2030)
13.1.4. Market Revenue and Forecast, by Form (2017-2030)
13.1.5. Market Revenue and Forecast, by Method (2017-2030)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.6.3. Market Revenue and Forecast, by Sources (2017-2030)
13.1.6.4. Market Revenue and Forecast, by Form (2017-2030)
13.1.7. Market Revenue and Forecast, by Method (2017-2030)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.8.3. Market Revenue and Forecast, by Sources (2017-2030)
13.1.8.4. Market Revenue and Forecast, by Form (2017-2030)
13.1.8.5. Market Revenue and Forecast, by Method (2017-2030)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.3. Market Revenue and Forecast, by Sources (2017-2030)
13.2.4. Market Revenue and Forecast, by Form (2017-2030)
13.2.5. Market Revenue and Forecast, by Method (2017-2030)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.6.3. Market Revenue and Forecast, by Sources (2017-2030)
13.2.7. Market Revenue and Forecast, by Form (2017-2030)
13.2.8. Market Revenue and Forecast, by Method (2017-2030)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.9.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.9.3. Market Revenue and Forecast, by Sources (2017-2030)
13.2.10. Market Revenue and Forecast, by Form (2017-2030)
13.2.11. Market Revenue and Forecast, by Method (2017-2030)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.12.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.12.3. Market Revenue and Forecast, by Sources (2017-2030)
13.2.12.4. Market Revenue and Forecast, by Form (2017-2030)
13.2.13. Market Revenue and Forecast, by Method (2017-2030)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.14.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.14.3. Market Revenue and Forecast, by Sources (2017-2030)
13.2.14.4. Market Revenue and Forecast, by Form (2017-2030)
13.2.15. Market Revenue and Forecast, by Method (2017-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.3. Market Revenue and Forecast, by Sources (2017-2030)
13.3.4. Market Revenue and Forecast, by Form (2017-2030)
13.3.5. Market Revenue and Forecast, by Method (2017-2030)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.6.3. Market Revenue and Forecast, by Sources (2017-2030)
13.3.6.4. Market Revenue and Forecast, by Form (2017-2030)
13.3.7. Market Revenue and Forecast, by Method (2017-2030)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.8.3. Market Revenue and Forecast, by Sources (2017-2030)
13.3.8.4. Market Revenue and Forecast, by Form (2017-2030)
13.3.9. Market Revenue and Forecast, by Method (2017-2030)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.10.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.10.3. Market Revenue and Forecast, by Sources (2017-2030)
13.3.10.4. Market Revenue and Forecast, by Form (2017-2030)
13.3.10.5. Market Revenue and Forecast, by Method (2017-2030)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.11.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.11.3. Market Revenue and Forecast, by Sources (2017-2030)
13.3.11.4. Market Revenue and Forecast, by Form (2017-2030)
13.3.11.5. Market Revenue and Forecast, by Method (2017-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.3. Market Revenue and Forecast, by Sources (2017-2030)
13.4.4. Market Revenue and Forecast, by Form (2017-2030)
13.4.5. Market Revenue and Forecast, by Method (2017-2030)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.6.3. Market Revenue and Forecast, by Sources (2017-2030)
13.4.6.4. Market Revenue and Forecast, by Form (2017-2030)
13.4.7. Market Revenue and Forecast, by Method (2017-2030)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.8.3. Market Revenue and Forecast, by Sources (2017-2030)
13.4.8.4. Market Revenue and Forecast, by Form (2017-2030)
13.4.9. Market Revenue and Forecast, by Method (2017-2030)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.10.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.10.3. Market Revenue and Forecast, by Sources (2017-2030)
13.4.10.4. Market Revenue and Forecast, by Form (2017-2030)
13.4.10.5. Market Revenue and Forecast, by Method (2017-2030)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.11.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.11.3. Market Revenue and Forecast, by Sources (2017-2030)
13.4.11.4. Market Revenue and Forecast, by Form (2017-2030)
13.4.11.5. Market Revenue and Forecast, by Method (2017-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.3. Market Revenue and Forecast, by Sources (2017-2030)
13.5.4. Market Revenue and Forecast, by Form (2017-2030)
13.5.5. Market Revenue and Forecast, by Method (2017-2030)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.6.3. Market Revenue and Forecast, by Sources (2017-2030)
13.5.6.4. Market Revenue and Forecast, by Form (2017-2030)
13.5.7. Market Revenue and Forecast, by Method (2017-2030)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.8.3. Market Revenue and Forecast, by Sources (2017-2030)
13.5.8.4. Market Revenue and Forecast, by Form (2017-2030)
13.5.8.5. Market Revenue and Forecast, by Method (2017-2030)
Chapter 14. Company Profiles
14.1. Givaudan
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Sensient Technologies
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Symrise AG
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. KangcareBioindustry Co, Ltd.
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. PT. Indesso Aroma
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Vidya Herbs Private Limited
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Shaanxi JiahePhytochem Co. Ltd.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Synthite Industries Private Ltd.
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Döhler
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. International Flavors & Fragrances Inc.
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers