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“The plant extracts market is projected to grow at a CAGR of 16.5%.”
According to MarketsandMarkets analysis, the plant extracts market is estimated to be valued at USD 23.7 billion in 2019 and is projected to reach USD 59.4 billion by 2025, at a CAGR of 16.5% from 2019 to 2025. Factors such as rising awareness regarding the side-effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts drive the market growth for plant extracts.
“By type, the phytomedicines & herbal extracts segment is projected to witness the fastest growth during the forecast period.”
The phytomedicines & herbal extracts segment is estimated to grow at the highest CAGR due to increasing demand from the pharmaceutical & dietary supplement and cosmetics industries across the globe. Phytochemicals and herbal extracts appear to have significant physiological effects on the human body. Whether they act as antioxidants, mimic hormones, stimulate enzymes, interfere with DNA replication, destroy harmful bacteria, or bind cell walls, they could potentially curb the onset of cancer and heart diseases. These benefits, along with the natural occurrence of these extracts, create a growing demand for the herbal extracts across the globe.
“By application, the cosmetics segment in plant extracts market is projected to grow at the highest CAGR during the forecast period”
Based on application, the plant extracts market is segmented into phytomedicines & dietary supplements, food & beverages, cosmetics, and others (personal care products & toiletries). The growing consumer interest in natural self-care products is driving the increasing use of plant extracts in the cosmetics segment. The changing consumer lifestyles and economic factors such as the rise in per capita income, particularly in developing regions, have encouraged the consumers to spend more on personal grooming.
“Asia Pacific is projected to be the fastest-growing plant extracts market, due to the large availability of raw materials and required environmental conditions for the growth of plants used for extraction”
The plant extracts market in this region is driven majorly by the growing demand for plant-derived products, owing to factors such as rising awareness about better dietary choices, growing demand for herbal cosmetic products, increasing awareness about the ill-effects of synthetic products, and rise in number of chronic diseases and stress levels due to busy lifestyles. These factors have resulted in a large number of manufacturers investing in the production of end products, which contribute to the nutritive health of consumers. China and India are leaders in producing plant extracts for various phytomedicine applications.
The global plant extracts market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and RoW (South America and the Middle East & Africa).
Break-up of Primaries
- By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
- By Designation: D-level - 40%, C-level - 25%, and Others* - 35%
- By Region: North America - 20%, Europe - 26%, Asia Pacific - 30%, South America – 14%, and RoW - 10%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report
- Givaudan (Switzerland),
- Sensient Technologies (US)
- Symrise AG (Germany)
- Kangcare Bioindustry Co., Ltd. (China)
- PT. Indesso Aroma (Indonesia)
- PT. Haldin Pacific Semesta (Indonesia)
- Vidya Herbs Private Limited (India)
- Tokiwa Phytochemical Co., Ltd.
- Native Extracts Pty. Ltd. (Australia)
- Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China)
- Synthite Industries Private Ltd. (India)
- D?hler (Germany)
- International Flavors & Fragrances, Inc. (US)
- Martin Bauer GmbH & Co. KG (Germany)
- Arjuna Natural Extracts Ltd. (India)
- This report segments the plant extracts market based on type, application, source, and region. In terms of insights, this research report focuses on various levels of analysis competitive landscape, end-use analysis, and company profiles which together comprise and discuss the basic views on the emerging & high-growth segments of the plant extracts market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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