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Plant Extract Market Size is Anticipated to Grow at a CAGR of 11.7% by 2034 | TMR Research
Plant Extract Market
Plant Extract Market (식물 추출물 시장) is expected to grow at a CAGR of 11.7% from 2024 to 2034 and reach US$ 73.8 Bn by the end of 2034
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Overview of Plant Extract Market
The global plant extract market is expanding due to the growing awareness of the health benefits of natural products and the increasing trend toward sustainable and eco-friendly ingredients. The market is segmented by type (phytomedicines and herbal extracts, essential oils, spices, and flavors, among others), application (pharmaceuticals, food and beverages, cosmetics, and personal care, among others), and geographical regions.
Top Companies:
Archer-Daniels-Midland Company
Carbery group Limited
Esperis S.p.A
Givaudan
International Flavors & Fragrances Inc.
Kalsec
Kerry Group plc
Symrise AG
Synthite Industries Ltd.
Native Extracts Pty Ltd.
Recent Developments in Plant Extract Market
Recent advancements and trends in the plant extract market include:
Innovative Extraction Technologies: Development of advanced extraction methods such as supercritical fluid extraction, ultrasonic extraction, and microwave-assisted extraction to improve yield, efficiency, and preservation of bioactive compounds.
Organic and Sustainable Sourcing: Increasing focus on organic and sustainable sourcing of plant materials to meet consumer demand for clean-label and eco-friendly products.
Functional Food and Beverages: Growing incorporation of plant extracts in functional foods and beverages for their health-promoting properties, such as antioxidants, anti-inflammatory agents, and immune boosters.
Personalized Nutrition: Advancements in personalized nutrition and the use of plant extracts tailored to individual health needs and preferences.
Regulatory Approvals and Certifications: Achieving regulatory approvals and certifications for plant extracts to ensure safety, quality, and compliance with industry standards.
Drivers of Market Growth
Several factors contribute to the growth of the plant extract market:
Rising Health Consciousness: Increasing consumer awareness and demand for natural and health-promoting products driving the adoption of plant extracts in various applications.
Natural and Organic Trends: Growing trend toward natural and organic products in the food, cosmetic, and pharmaceutical industries boosting the market for plant extracts.
Technological Advancements: Continuous advancements in extraction technologies enhancing the quality, efficacy, and variety of plant extracts available.
Cosmetic and Personal Care: Rising use of plant extracts in cosmetics and personal care products for their natural and skin-friendly properties.
Regulatory Support: Supportive regulatory frameworks and guidelines promoting the use of plant extracts in various industries.
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Conclusion
The plant extract market is poised for significant growth, driven by rising health consciousness, natural and organic trends, technological advancements, increasing applications in cosmetics and personal care, and regulatory support. Innovations in extraction technologies, sustainable sourcing, functional food and beverages, personalized nutrition, and regulatory approvals are enhancing the potential and applicability of plant extracts.
Market Key Segments
Product Type
Oleoresins
Essential Oil
Flavonoids
Alkaloids
Carotenoids
Others
Form
Dry
Liquid
Source
Herbs & Spices
Fruits & vegetables
Flowers
End-user
Food & Beverages
Cosmetics
Pharmaceuticals
Dietary Supplements
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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