Plant Extracts Market worth $59.4 Billion By 2025
by Mit K. SEOAccording
to the new market research report “Plant Extracts Market by Type
(Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors &
Fragrances), Application (Pharmaceuticals & Dietary Supplements, Food &
Beverages, Cosmetics), Source, and Region – Global Forecast to 2025”,
published by MarketsandMarkets™, the Plant Extracts Market is estimated to be
valued at USD 23.7 billion in 2019 and is projected to reach USD 59.4 billion
by 2025, at a CAGR of 16.5% from 2019 to 2025. The increase in prevalence of
chronic disease skin cancer, rapidly growing demand for herbal medicines and
plant extracts based functional food and food additives, rise in trade of plant
extracts are some factors driving the growth in the plant extracts market.
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The phytomedicines & herbal extracts
segment is estimated to account for the largest share, in terms of value, by
type
Based
on type, the plant extracts market is segmented into phytomedicines &
herbal extracts, essential oils, spices, and flavors & fragrances. The
phytomedicines & herbal extracts segment is estimated to account for the
largest market share in 2019, owing to the increasing preference for herbal
medicines and other herbal products in developed and developing regions.
Antimicrobial
properties of plant extracts, particularly for the treatment of age-related
disorders such as immune disorders, memory loss, and osteoporosis is attributed
to the growth of the segment. Also, the increasing introduction of regulatory
standards regarding the use of plant extracts as phytomedicine is projected to
offer lucrative growth opportunities for the growth of the phytomedicines &
herbal extracts segment, which in turn, is expected to drive the plant extracts
market during the forecast period.
Browse in-depth TOC on “Plant Extracts Market“
90 – Tables
34 – Figures
177 – Pages
The pharmaceuticals & dietary supplements
segment is expected to witness the fastest growth in the plant extracts market
during the forecast period
By
application, the plant extracts market is segmented into pharmaceuticals &
dietary supplements, food & beverages, cosmetics, and others. Middle-class
consumers in the Asia Pacific are showing a positive interest in nutrition and
supplements due to urbanization and increasing income levels. Further, the
growing adverse effects of synthetic products and allopathic medicines have
significantly raised the demand for Ayurvedic and homeopathic medicines in this
region. This has led to an increase in the market for phytomedicines &
herbal extracts.
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The Asia Pacific region is estimated to
dominate the plant extracts market, in terms of value
The
market for plant extracts in the geography is thriving due to strong local and
international demand. These extracts are relevant as food preservatives and
shelf-life extension ingredients owing to the regions’ tropical climate, which
is conducive for the growth of plant extracts. Moreover, the region has several
small and medium-sized manufacturers of plant extracts, who are well-versed
with the processing of plant extracts and aware of the benefits offered by
them. Manufacturers in Indonesia, India, and Thailand are continuously
investing in the market and focusing on innovation to expand their product
range. This is due to the rise in the trade of plant extracts between Asia and
international manufacturers of plant extract-based products.
This
report includes a study on the marketing and development strategies, along with
the product portfolios of the leading companies. It consists of the profiles of
leading companies such as Givaudan (Switzerland), Sensient Technologies (US),
Symrise AG (Germany), Kangcare Bioindustry Co., Ltd. (China), PT. Indesso Aroma
(Indonesia), PT. Haldin Pacific Semesta (Indonesia), Vidya Herbs Private
Limited (India), Tokiwa Phytochemical Co., Ltd., Native Extracts Pty. Ltd.
(Australia), Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China),
Synthite Industries Private Ltd. (India), Döhler (Germany), International
Flavors & Fragrances, Inc. (US), Martin Bauer GmbH & Co. KG (Germany),
and Arjuna Natural Extracts Ltd. (India).
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Created on Jun 11th 2021 08:08. Viewed 245 times.