Plant Extracts Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Plant Extracts Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $44.1 billion In 2028 At A CAGR Of 9.6% :

The plant extracts market size has grown strongly in recent years. It will grow from $27.94 billion in 2023 to $30.55 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing consumer awareness, rising demand for natural ingredients, expanding applications in pharmaceuticals, globalization of trade.

The plant extracts market size is expected to see strong growth in the next few years. It will grow to $44.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growing popularity of functional foods, expanding cosmetics and personal care industry, government initiatives supporting herbal products, environmental sustainability concerns. Major trends in the forecast period include rising research and development activities, technological advancements in extraction techniques, focus on superfoods, personalization of nutraceuticals, innovations in extraction methods, emergence of plant-based meat alternatives, integration of traditional medicine, clean label movement.

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Plant Extracts Market Major Segments
The plant extracts market covered in this report is segmented -

1) By Type: Spices, Essential Oils and Natural Extracts, Flavors and Fragrance, Phytomedicines and Herbal Extracts, Phytochemicals, Other Types
2) By Source: Fruits, Flowers and Bulbs, Leaves, Rhizomes and Roots, Barks and Stems, Other Sources
3) By Application: Pharmaceuticals, Food and Beverages, Cosmetics, Other Applications

Key Driver - Vegan Trend Fuels Rapid Growth In The Plant Extract Market

The rapid growth in the vegan trend is significantly contributing to the growth of the plant extract market. A vegan refers to a person who doesn't consume animal products, including meat, eggs, or dairy products. Vegan people consume plant-based products to fulfil their nutritional requirements. For instance, according to the Plant-Based Foods Association (PBFA), a US-based trade association, retail sales of plant-based foods in the United States increased by 6.2% in 2021. Therefore, the rapid growth in vegan trends is driving the growth of the plant extract market.

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Prominent Trend - Innovative Technological Advancements Transforming The Plant Extract Market

Increasing technological advancements have emerged as the key trend gaining popularity in the plant extract market. Companies operating in the plant extract sector are focused on developing new technological solutions to reinforce their position. For instance, in June 2021, Firmenich, a Switzerland-based fragrance and taste company, launched the Firgood ingredients using revolutionary and sustainable proprietary extraction technology. The Firgood technology is solvent-free and utilizes low energy. The water is used for extraction, which is warmed up by electromagnetic vibration, and the odorant components in it are used to yield the final pure extract.

Plant Extracts Market Players
Major companies operating in the plant extracts market report are Naturex S. A., Berkem S. A., Kuber Impex Ltd., Network Nutrition Pty Limited, Organic Herb Inc., Qualiphar-Gifrer, Givaudan S. A., Arjuna Natural Pvt Ltd., Synthite Industries Private Ltd., Martin Bauer Group, Tokiwa Phytochemical Co Ltd., Native Extracts Pty Ltd., Symrise AG, Sensient Technologies Corporation, PT Indesso Aroma, Vidya Herbs Pvt Ltd., Plant Extracts International Inc., Indena S. p. A., Nutra Green Biotechnology Co Ltd., Nantong Sihai Plant Extracts Co. Ltd., Schwabe Group, Provital Group, Chenguang Biotech Group Co Ltd., Kangcare Bioindustry Co. Ltd., International Flavors & Fragrances Inc., Kerry Group plc, Archer Daniels Midland Company, Kalsec Inc., Carbery Group, Koninklijke DSM N. V., Döhler GmbH, Vital Herbs, Alchemy Chemicals, Sydler India Pvt. Ltd., Plantnat, PhytoVation Ltd., Sabinsa Corporation, Nexira

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the plant extracts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Plant Extracts Market Report Structure
3. Plant Extracts Market Trends And Strategies
4. Plant Extracts Market - Macro Economic Scenario
5. Plant Extracts Market Size And Growth
…..
27. Plant Extracts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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