Leading Element Driving Change in the Plant Extracts Market in 2025: Vegan Trend Fuels Rapid Growth In The Plant Extract Market Driver

What market dynamics are playing a key role in accelerating the growth of the plant extracts market?
The surging popularity of veganism is substantially aiding the expansion of the plant extract market. Vegans, individuals who refrain from consuming animal-derived products such as meat, eggs, or dairy, rely heavily on plant-based products for their nutritional needs. As per the Plant-Based Foods Association (PBFA), an American trade organization, retail sales of plant-based foods saw a rise of 6.6% in the United States in 2022. Consequently, the quickening pace of vegan trends is fuelling the growth of the plant extract market.

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How will the growth rate of the plant extracts market shape industry trends by 2034?
The market for plant extracts has experienced robust growth in the past few years. Its estimated value is expected to inflate from $30.31 billion in 2024 to $33.16 billion in 2025, representing a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this growth during the historical period include heightened consumer knowledge, a boost in the demand for organic components, wider pharmaceutical applications, as well as heightened commerce globalization.

In the upcoming years, the market size for plant extracts is projected to experience fast-paced expansion, growing to the value of $49.2 billion in 2029, with a compound annual growth rate (CAGR) of 10.4%. The surge in the market during the forecast period is due to factors such as the increasing demand for functional foods, the growing cosmetics and personal care industry, governmental efforts promoting herbal goods, and environmental sustainability issues. Significant trends for the forecast period include an uptick in research and development tasks, advancements in extraction technology, a focus on superfoods, customization of nutraceuticals, novel extraction techniques, the emergence of plant-based meat substitutes, amalgamation of traditional medicine practices, and the clean label movement.

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What trends are poised to drive the future success of the plant extracts market?
Significant businesses in the plant extracts sector are concentrating on producing innovative items like PrimeLock, a vegan-friendly alternative that mimics animal fat cells. It aids food manufacturers in boosting plant-based product creation and increases their market revenue. For example, in February 2022, Givaudan, a Swiss-based flavor, and fragrance firm, unveiled PrimeLock+, a natural, vegan-friendly solution. PrimeLock encapsulates and safeguards flavor and fat, gradually releasing them during cooking and consumption. This technique preserves the desired juiciness in plant-based foods like burgers and sausages, which typically lose moisture during cooking. This technology permits a decrease of up to 75% of the fat and 30% of the calories in plant-based items without compromising on taste or texture.

Which primary segments of the plant extracts market are driving growth and industry transformations?
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

Subsegments:
1) By Spices: Whole Spices, Ground Spices, Spice Extracts
2) By Essential Oils And Natural Extracts: Aromatherapy Oils, Carrier Oils, Concentrated Extracts
3) By Flavors And Fragrance: Natural Flavoring Agents, Fragrance Oils, Flavoring Extracts
4) By Phytomedicines And Herbal Extracts: Herbal Supplements, Medicinal Plant Extracts, Traditional Herbal Remedies
5) By Phytochemicals: Alkaloids, Terpenoids, Polyphenols
6) By Other Types: Nutraceuticals, Cosmetic Plant Extracts, Feed Additives

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Which geographical regions are pioneering growth in the plant extracts market?
Asia-Pacific was the largest region in the plant extracts market in 2024.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

Who are the influential players reshaping the plant extracts market landscape?
Major companies operating in the plant extracts market include Naturex S. A., Berkem S. A., Kuber Impex Ltd., Organic Herb Inc., 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, Sydler India Pvt. Ltd., Plantnat, Sabinsa Corporation, Nexira

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What Is Covered In The Plant Extracts Global Market Report?

•Market Size Forecast: Examine the plant extracts market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the plant extracts market for a structured understanding.
•Key Players Overview: Analyze major players in the plant extracts market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the plant extracts market.
•Segment Contributions: Evaluate how different segments drive overall growth in the plant extracts market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the plant extracts market.
•Industry Challenges: Identify potential risks and obstacles affecting the plant extracts market.
•Competitive Landscape: Review strategic developments in the plant extracts market, including expansions, agreements, and new product launches.

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