Plant Extracts Market is expected to grow at 13.2% from 2024 to 2030, reaching nearly USD 93.48 Bn.

Plant Extracts Market Overview:

The global plant extracts market is experiencing significant growth, driven by increasing consumer preference for natural and organic products across various industries, including food and beverages, pharmaceuticals, and cosmetics. Plant Extracts Market size was valued at US$ 34.67 Bn. in 2023 and the total Plant Extracts revenue is expected to grow at 13.2% from 2024 to 2030, reaching nearly US$ 93.48 Bn.

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Plant Extracts Market Dynamics

Several key factors are propelling the plant extracts market forward:

Health and Wellness Trends: Growing awareness of the health benefits associated with natural products has led consumers to seek plant-based alternatives, boosting demand for plant extracts in functional foods, dietary supplements, and herbal medicines.

Technological Advancements: Innovations in extraction techniques have enhanced the quality and efficacy of plant extracts, making them more appealing to manufacturers and consumers alike.

Regulatory Support: Favorable regulations promoting the use of natural ingredients in various industries have further stimulated market growth.

Plant Extracts Market Outlook and Future Trends :

The future of the plant extracts market is shaped by several emerging trends:

Sustainable Sourcing: There is an increasing emphasis on sustainable and ethical sourcing of plant materials to ensure long-term availability and environmental conservation.

Product Innovation: Companies are investing in research and development to introduce novel plant extract formulations with enhanced bioavailability and targeted health benefits.

Expansion in Emerging Markets: Rapid urbanization and rising disposable incomes in emerging economies present significant opportunities for market expansion, as consumers in these regions show a growing preference for natural products.

Plant Extracts Market Key Recent Developments

The plant extracts industry has witnessed notable mergers and acquisitions across various regions:

Singapore: In April 2024, Rohto Pharmaceutical and Mitsui & Co. announced plans to acquire Eu Yan Sang International, a Singapore-based Chinese herbal medicine company, in a deal valued at SGD 800 million (USD 593.5 million). This acquisition aims to combine Eu Yan Sang's strong product portfolio and brand reputation in Asia with Rohto's research, development, and sales capabilities.

Europe: In February 2021, International Flavors & Fragrances Inc. merged with DuPont's Nutrition & Biosciences division, enhancing its portfolio with plant-based proteins and texturants, thereby broadening its customer base for sustainable growth.

United States: In December 2021, ADM acquired Flavor Infusion International, S.A. (FISA), a provider of flavor and specialty ingredient solutions in Latin America and the Caribbean. This acquisition expanded ADM's presence and growth opportunities in these regions.

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Plant Extracts Market Segmentation

by Form

1.Dry
2.Liquid

by Source

1.Herbs & spices
2.Fruits & vegetables
3.Flowers
4.Other

by Product

1.Oleoresins
2.Essential oils
3.Flavonoids
4.Alkaloids
5.Carotenoids
6.Other

Some of the current players in the Plant Extracts Market are:

1.Sensient Technologies (US)
2. International Flavors & Fragrances (US)
3. Prinova Group LLC. (US)
4.Synergy Flavors, Inc. (US)
5.Kalsec, Inc. (US)
6.Plant Extracts International (US)
7. PT. Indesso Aroma (Indonesia)
8.PT. Haldin Pacific Semesta (Indonesia)
9. Döhler (Germany)
10. Symrise AG (Germany)

Plant Extracts Market Conclusion:

The global plant extracts market is on a robust growth trajectory, driven by increasing consumer demand for natural and organic products, technological advancements, and strategic industry developments. As companies continue to innovate and expand their reach, the market is poised for sustained expansion in the coming years.​

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