Global Plant Extract Market By Type (Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors & Fragrances), Forms (Powder, Liquid, Others), Source (Leaves, Fruits, Flowers and Bulbs, Rhizomes & Roots, Barks & Stems, Others), Application (Pharmaceuticals & Dietary Supplements, Food & Beverages, Cosmetics, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Plant Extract Market
Global plant extract market is expected to register a healthy CAGR of 11.0% in the forecast period of 2019-2026. Rising growth in R&D activities in plant extracts market is the major factor for the growth of the market.
Market Definition: Global Plant Extract Market
The plant extracts are isolation of natural products from the plants. Plant extraction is separation of liquid or solid from plants by using extraction method. These plant extracts are used for various applications which include food industry, pharmaceuticals and cosmetic industry among others.
China had become world's most significant source for plant extracts. As per Chinese customs statistics in 2010, China's plant extracts of exports had amounted to $815 million, accounting for 41.9% of China's total export of Chinese medicine, the extract of Chinese products had become the huge fueling factor in raising the China's export rate. Presently, there are around more than 2000 enterprises focusing in trade business and plant extraction with thousands of products being exported to foreign countries per year.
- Rising awareness about side-effects of synthetic flavors is driving the market growth
- Growing popularity of convenience foods may propel the growth of the market
- Growing health benefits offered by phytomedicines and herbal extracts will boost the market in the forecast period
- Increasing demand for dietary food supplements is a driver for the market growth
- Fluctuation of price will restrain the market growth
- Insufficient supply of raw materials is hampering the growth of the market
Segmentation: Global Plant Extract Market
- Phytomedicines & Herbal Extracts
- Essential Oils
- Flavors & Fragrances
- Flowers & Bulbs
- Rhizomes & Roots
- Barks & Stems
- Pharmaceuticals & Dietary Supplements
- Food & Beverages
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2019, Symrise had opened a new laboratory for cosmetic ingredients in Germany. This will help the company in development and testing of new cosmetic formulations. This expansion will assist the company to expand the micro protection category’s capabilities within the cosmetic ingredients division
- In January 2019, Givaudan had opened technical and commercial centre in Casablanca, Morocco which consist of lab with novel technologies. This will help the company to expand its business in North America
Global plant extract market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plant extract market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global plant extract market are Givaudan, Sensient Technologies Corporation, Symrise, Kangcare, PT. INDESSO AROMA, PT. Haldin Pacific Semesta., VidyaHerbs, Tokiwa Phytochemical Co. Ltd., NATIVE EXTRACTS Pty Ltd., Shaanxi Jiahe Phytochem Co., Ltd., Synthite Industries Ltd., Döhler, International Flavors & Fragrances, Inc., Martin Bauer Group, Arjuna Natural Pvt Ltd, Organic Herb Inc., Plant Extracts International Inc., Network Nutrition, FT Technologies, Lehmann&Voss&Co., Ingredia Nutritional, TimTec LLC, Alkaloids Corporation, Phyto Life Sciences P. Ltd., Phytovation, Kuber Impex Ltd, Qualiphar, Prinova Group LLC, Indena S.p.A., William Reed Business Media Ltd among others.
Research Methodology: Global Plant Extract Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Food and beverages industry experts, Research Laboratories, Group Purchasing Organizations, Associations, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global plant extract market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)