Plant Extracts Market To Reach USD 82.25 Billion By 2028

According to the analysis of Reports and Data The plant extracts market is estimated to be valued at USD 26.32 Billion in 2020 and is projected to reach USD 82.25 Billion by 2028, at a CAGR of 17.4% from 2020 to 2028. Rising demand for plant extracts from end-use applications such as food & beverages, cosmetics & pharmaceuticals to present flavour, colour, and food is driving the plant extract demand. A shift in consumer choice towards the consumption of herbal medicines is again fuelling the plant extract market. Side-effects linked with the synthetically prepared drugs leading to several disorders have drastically improved the consumer preference towards the safe & herbal substitute. This, in turn, has propelled the market growth. The rising demand for extracted or herbal supplements are impacting the plant extracts market growth positively.

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Market Dynamics:
The global Plant Extracts market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant-based food products. Moreover, rising health-conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.

Competitive Landscape:
The research report offers details about leading companies in the global Plant Extracts market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

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Major Companies:
• Givaudan (Switzerland),
• Sensient Technologies (US),
• Symrise AG (Germany),
• Kangcare Bioindustry Co., Ltd. (China),
• PT. Indesso Aroma (Indonesia),
• PT. Haldin Pacific (Indonesia),
• Vidya Herbs Private Limited (India),
• Tokiwa Phytochemical Co., Ltd.,
• Native Extracts Pty. Ltd. (Australia),
• Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China),

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Market Segmentation:
The report also sheds light on the market segmentation based on type, application and region:

Based on type, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
• Spices
• Essential oils
• Flavours & fragrances
• Phytomedicines & herbal extracts

Based on the source, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
• Leaves
• Fruits, flowers, and bulbs
• Rhizomes & roots
• Barks & stems
• Others (seeds, pods, and berries)

Based on application, the plant extracts market has been segmented as follows: (Volume Metric Tons, Revenue, USD Million; 2020-2028) Pharmaceuticals & dietary supplements
• Food & beverages
• Cosmetics
• Others (personal care products and toiletries)

Plant Extracts Market Segmentation based on Regions:
North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Benelux
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Rest of Middle East & Africa

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