The surging demand for herbal medicines due to the rise in skin diseases, immune system disorder, and osteoporosis is catalyzing the plant extracts market across the globe. Moreover, the growing awareness about the impact of the synthetic flavors and colors used in the foods and beverage industry and cosmetics coupled with the knowledge about the benefits of herbal products over other products such as the non-allergic, non-harmful impact on health and is contributing to the market growth. Moreover, the growth in the number of incidences related to sickness, and allergies due to the environmental conditions, hectic and stressful lifestyle is boosting the plant extracts across the globe.
According to the MarkNtel Advisors’ research report, “Global Plant Extracts Market Analysis, 2020”, the global plant extracts market is set to grow at a CAGR of around 15.40% during 2020-25 on account of the rising traction towards herbal medicines, organic foods, and herbal cosmetics. In 2019, APAC grabbed the major share in the global plant extract market on account of the propelling urbanization and the rising rise in the disposable income. Moreover, the soaring requirement for the nutrients and the supplements due to the growing fitness and sports enthusiast across the region is generating the demand for the plant extracts.
Phytomedicines and herbal extracts dominated over types such as essential oils, spices, flavors & fragments in 2019 on account of the need from the healthcare, nutraceutical and food and beverages industry on account of increasing usage by the food and beverages manufacturers due to the rise in consumer’s awareness across the globe.
By application, pharmaceutical and the dietary supplements dominated the plant extracts market in 2019, on account of the consumer’s awareness about the allergic reaction by the medicines other than the herbal and ayurvedic medicines which are made up from the plant extracts.
Also, the benefits of the cure from the herbal medicine of some of the non-curable diseases are contributing to the demand for the plant extract from the pharmaceutical and dietary supplements.
By sources, leaf dominated the plant extracts market on account of the benefits from the leaf such as olive leaf extract helps in lower blood pressure and cholesterol level. Also, the papaya leaf extract helps in the increasing platelets count during fever. Also, the extract from the “Stevia” leaf used to provide the sweet taste and used by the several food and beverages manufacturer, as revealed by MarkNtel Advisors, in its report on “Global Plant Extracts Market Analysis, 2020”.
According to MarkNtel Advisors, the leading players operating the industry are Givaudan, Sensient Technologies, Symrise AG, Kangcare Bioindustry Co., Ltd, Native Extracts Pty. Ltd., etc. The companies are doing mergers and acquisitions and launching new products to gain a competitive edge in the industry. A few of the instances are, Givaudan announced to acquire Vietnam based company “Golden frog”, a manufacturer of natural flavors in 2019 to strengthen its market position in the industry. Also, Sensient technologies acquired Mazza Innovation Limited, a Canadian company to fulfill the demand for clean label ingredients.
“Global Plant Extracts Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for plant extracts providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Spices, Essential Oils, Flavors & Fragrances, Phytomedicine and herbal extracts)
2. By Application (Pharmaceutical & dietary supplements, Food & beverages, Cosmetics, Others)
3. By Source (Leaves, Fruits-flowers and bulbs, Rhizomes and roots, Barks & stems, Others)
4. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
5. By Competitors (Givaudan, Sensient Technologies, Symrise AG, Kangcare Bioindustry Co., Ltd., PT. Indesso Aroma, PT. Haldin Pacific Semesta, Vidya Herbs Private Limited, Others)
Key questions answered in the study:
1. What are the current and future trends of the global plant extracts market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global plant extracts industry?
6. What are the customer orientation, purchase behavior, and expectations from the plant extracts across various regions?