Plant Extracts Market on Track for Strong Growth, Estimated to Grow at 10.4% CAGR Through 2029

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What Is the Expected CAGR for the Plant Extracts Market Through 2025?_x000D_
The market size of plant extracts has witnessed a robust growth in the past few years. In 2024, it stood at $30.31 billion and is projected to rise to $33.16 billion in 2025, recording a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this historical growth are - heightened consumer awareness, increased demand for natural elements, widened usage in the pharmaceutical sector, and the global expansion of trade._x000D_
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What's the Projected Size of the Global Plant Extracts Market by 2029?_x000D_
Projected advancements in the plant extracts market are expected to garner swift growth in the forthcoming years. With an expected market value of $49.2 billion in 2029 and a compound annual growth rate (CAGR) of 10.4%, the growth momentum hinges on several contributing factors. Factors fuelling this acceleration include surging popularity of functional foods, the broadening cosmetics and personal care industry, governmental support for herbal products, and increasing concerns about environmental sustainability. Anticipated trends within this period encompass heightened research and development pursuits, technological enhancements in extraction methods, concentration on superfoods, individualised nutraceuticals, newly developed extraction techniques, emergence of plant-based meat substitutes, incorporation of traditional medicine, and the clean label movement._x000D_
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Top Growth Drivers in the Plant Extracts Industry: What's Accelerating the Market?_x000D_
The surge in veganism is playing a major role in advancing the plant extract industry. Vegans are individuals who abstain from consuming animal-derived products such as meat, eggs, or dairy goods, instead relying on plant-based resources to meet their nutritional needs. For example, as per the US-based Plant-Based Foods Association (PBFA), there was an increase of 6.6% in retail sales of plant-based foods in the United States in 2022. Consequently, the accelerated progression in veganism is stimulating the expansion of the plant extract market._x000D_
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What Trends Will Shape the Plant Extracts Market Through 2029 and Beyond?_x000D_
Key players in the plant extracts market are concentrating their efforts on the creation of innovative products like PrimeLock, a vegan-friendly alternative that imitates animal fat cells. This aids food companies in improving plant-based product development and boosts market revenue. For example, Givaudan, a flavors and fragrance industry based in Switzerland, debuted PrimeLock+ in February 2022. This natural, vegan-friendly solution encapsulates and safeguards flavor and fat, releasing them over time during cooking and eating. This mechanism preserves the sought-after juiciness of plant-based products like burgers and sausages that often dry out during cooking. The technology enables a reduction of fat by up to 75% and calories by 30% in plant-based products without sacrificing taste or texture._x000D_
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What Are the Main Segments in the Plant Extracts Market?_x000D_
The plant extracts market covered in this report is segmented -_x000D_
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1) By Type: Spices, Essential Oils And Natural Extracts, Flavors And Fragrance, Phytomedicines And Herbal Extracts, Phytochemicals, Other Types_x000D_
2) By Source: Fruits, Flowers And Bulbs, Leaves, Rhizomes And Roots, Barks And Stems, Other Sources_x000D_
3) By Application: Pharmaceuticals, Food And Beverages, Cosmetics, Other Applications_x000D_
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Subsegments:_x000D_
1) By Spices: Whole Spices, Ground Spices, Spice Extracts_x000D_
2) By Essential Oils And Natural Extracts: Aromatherapy Oils, Carrier Oils, Concentrated Extracts_x000D_
3) By Flavors And Fragrance: Natural Flavoring Agents, Fragrance Oils, Flavoring Extracts_x000D_
4) By Phytomedicines And Herbal Extracts: Herbal Supplements, Medicinal Plant Extracts, Traditional Herbal Remedies_x000D_
5) By Phytochemicals: Alkaloids, Terpenoids, Polyphenols_x000D_
6) By Other Types: Nutraceuticals, Cosmetic Plant Extracts, Feed Additives_x000D_
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Which Top Companies are Driving Growth in the Plant Extracts Market?_x000D_
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_x000D_
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Which Regions Will Dominate the Plant Extracts Market Through 2029?_x000D_
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_x000D_
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