Press release
Plant Extracts Market Growth 2024-2033 | Insights, Demand, Outlook
Plant Extracts Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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