Plant Extracts Market Detailed Analysis & Focusing on Key Leaders - Indena S.p.A., Naturex Inc., V. Mane Fils SA, Kalsec, Inc., and Döhler GmbH.

A plant extract is a substance that contains various chemical compositions such as resin alcohols, starches, hydrocarbon resins, gums, phlegmatics, carotenoids, and quinones. These extracts are tissues treated with solvents for various functionalities to serve as skin medicines, anti-irritants, anti-inflammatory, sterilizers, anti-infective, wetting, and skin protection among others.

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Growing demand for plant extracts in the food and beverages, pharmaceuticals, and cosmetics industries is boosting growth of the plant extract market. For instance, plant extracts are widely used in the food and beverages industry as colorants, flavorants, and to enhance the overall nutritional content. Increasing demand for functional foods and beverages such as protein bars, dietary supplements, and flavored beverages is also expected to fuel growth of the plant extracts market.

Plant extracts are used in the cosmetic industry for application in perfumes, and skin care and hair care products. These extracts are used in skin care products for curing eczema, acne, dryness, free-radical scavenging, anti-inflammatory, and anti-aging. While, in hair care products, they are used as growth stimulants, colorants, and as anti-dandruff agents. Rising trend of using cosmetics with natural extracts is further boosting demand for natural.

Europe holds the dominant market for in the global plant extracts market, followed by Asia Pacific. The market in Europe was valued at US$ 11,549.5 Mn in 2016, which is projected to increase to US$ 19,380.2 Mn by 2025, witnessing a CAGR of 6.19% during the forecast period. Increasing inclination of customers towards consumption of herbal medicines in Europe is driving growth of the plant extracts market in the region. According to the Centre for the Promotion of Imports, around 700 plant-based medicines are available in Germany, which are manufactured by companies such as Heinrich Klenk and Schaper & Brümmer among others and are prescribed by 70% of the physicians in the country.

Asia Pacific is projected to be the second-largest market in the global plant extracts market throughout the forecast period. This is attributed to increasing demand for natural ingredients in the cosmetics, pharmaceutical, and food & beverages industries. According to Indian Brand Equity Foundation (IBEF), pharmaceutical industry is the third-largest industry in India in terms of volume and accounted for 20% of the global pharmaceutical industry in 2017. The pharmaceutical sector is expected to increase to US$ 55 billion by 2020. Also, increasing government involvement in various initiatives to promote pharmaceutical sector in India. For instance, the Department of Biotechnology received US$ 333.3 million in the Union Budget 2017-2018, to implement the department’s national biotech strategy.

Major Players in Global Plant Extracts Market:

Some of the key players operating in the global plant extracts market are Indena S.p.A., Naturex Inc., V. Mane Fils SA, Kalsec, Inc., and Döhler GmbH.

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