IndustryARC, in its latest report, predicts that Plant Extract Market size in 2020 is estimated to be $14.162 billion, growing at a CAGR of 6.3% during the forecast period 2021-2026. Plant extracts is a substance that is extracted from plant and herbs. It has medicinal properties and is also a source of active compounds such as alkaloids, steroids, tannins, glycosides, volatile oils, phenols, and flavonoids. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
1. In 2020, Asia-Pacific dominates the Plant Extract Market owing increasing urbanization and rising disposable income of the people.Increasing awareness about side effects of synthetic flavors is driving the market growth of Plant Extract.
2. Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Plant Extract Market report.
3. Side effects of plant extraction medicine and stringent Regulations Associated with quality and safety of the plant extracts are challenging the growth of the market.
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1. The Phytochemicals segment is projected to dominate the market in 2020 owing to rising demand of phytochemical for dietary supplements and other pharmaceutical applications. This segment is also poised to be the fastest-growing segment and is projected to grow at a CAGR of 6.8% during the forecast period 2021-2026.
2. Based on the Form, Plant Extract Market is segmented into powder, liquid, others. In 2020, powder segment is projected to dominate the market. This is mainly owing to powder being widely used in various industries such as food and beverage, cosmetics, pharmaceutical and others.
3. Asia-Pacific dominated the Plant Extract market share accounting for 36.7% of the market in 2020. This is mainly owing to easy availability of raw material and suitable environment for the growth of plants used for extraction.
The top 5 players in the Plant Extracts industry are –
1. Kemin Industries Inc.
2. Frutarom Industries Ltd.
3. Indena Spa
4. Synthite Industries Ltd.
5. CHR Hansen
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