Pune, 7 Dec 2022: Maximize Market Research has published a report on the Plant Extracts Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the MMR report, Plant Extracts Market size was valued at US$ 30.63 Bn. in 2021 and the total Plant Extracts revenue is expected to grow at 13.2% from 2022 to 2029, reaching nearly US$ 82.59 Bn.
Plant Extracts Market Scope:
The MMR study includes statistics on the plant extracts market, such as market size, share, and growth rates (CAGR) by segments and sub-segments at the international, regional, and national levels, along with a forecast for each year through 2029.
The study offers a detailed understanding of the market penetration of various Plant Extracts types, uses, and sales channels with associated future possibilities, supported by current industry specialists. Additionally, customization options include the market share of Plant Extracts according to important parameters including production processes, technology, and raw materials. This gives the client the ability to choose the category with the greatest development potential based on those growth rates and the accompanying drivers and restraints.
The research used the years 2017, 2018, 2019, and 2020 as historical years, as well as 2021 as the base year, 2022 as the predicted year, and 2023 to 2029 as the forecast period. The study highlights the most lucrative Plant Extracts market items, predominate end applications, and emerging Plant Extracts market process type in each area.
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Plant Extracts Market Overview:
A plant extract is a material that contains various chemical compositions like resin alcohols, starches, gums, phlegmatics, hydrocarbon resins, carotenoids, and quinones. These extracts are tissues that have been subjected to solvent treatment for a variety of purposes, including use as skin medications, irritants, anti-inflammatory agents, sterilants, anti-infectives, wetting agents, and skin protectors, among others.
Plant Extracts Market Dynamics:
The global plant extract market is expected to grow as a result of rising demand from the food and beverage, pharmaceutical, and cosmetics industries. For instance, plant extracts are frequently utilised as flavourings and colourants in the food and beverage sector to improve the total nutritional content. The plant extracts market is anticipated to grow as demand for functional meals and drinks such protein bars, dietary supplements, and flavoured beverages increases. Plant extracts are applied to skin care, hair care, and fragrance products in the cosmetics sector. In skin care products, these extracts are used to treat eczema, acne, dryness, and free-radical scavenging, anti-inflammatory, and anti-aging conditions. In contrast, they serve as colourants, anti-dandruff agents, and growth stimulants in hair care products. The demand for plant extracts is further estimated to grow with the rising trend of utilising cosmetics with natural extracts.
Plant Extracts Market Regional Insights:
Geographically, the plant extracts market in North America is expected to grow due to the rising demand for natural ingredients in a variety of foods and beverages. Another key driver of market expansion in the food and beverage sector is product innovation. Due of the strong consumer preference for skincare products made with natural components, plant extracts are being included in radiance and anti-cellulite treatments more frequently. Additionally, the region’s market for plant extracts is estimated to rise due to the rising demand for herbal supplements and medicines.
Plant Extracts Market Segmentation:
- Herbs & spices
- Fruits & vegetables
- Essential oils
- Food & beverages
- Dietary Supplements
By application, the food and beverage segment is expected to grow at a CAGR of 8.1% during the forecast period. Botanical ingredients are gaining popularity in the food and beverage industries. Beverages containing plant extracts grew 46% between 2017 and 2020. Furthermore, according to a 2021 worldwide consumer research study titled Botanical State of Mind: Uncovering customers’ personal and emotional affinity with botanicals, more than 97% of consumers polled throughout the world indicated botanical ingredients and tastes appeal to them. More than 6,500 consumers were polled in 12 countries throughout North America, Europe, Latin America, Asia Pacific, and Africa for the study.
Plant Extracts Market Key Competitors:
Some of the major players in the Plant Extracts market include
- Sensient Technologies
- Symrise AG
- Kangcare Bioindustry
- PT. Indesso Aroma
- PT. Haldin Pacific Semesta
- Vidya Herbs Private Limited
- Tokiwa Phytochemical
- Native Extracts
- Shaanxi Jiahe Phytochem
- Synthite Industries
- International Flavors & Fragrances
- Martin Bauer
- Arjuna Natural Extracts
- V. Mane Fils
- Organic Herb
- Plant Extracts International
- Network Nutrition
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Key Questions answered in the Plant Extracts Market Report are:
- How is the competitive scenario of the Plant Extracts Market?
- Which are the key factors aiding the Plant Extracts Market growth?
- Which region is expected to hold the largest share in the Plant Extracts Market?
- What will be the CAGR of the Plant Extracts Market during the forecast period?
- Which are the prominent players in the Plant Extracts Market?
- What key trends are likely to emerge in the Plant Extracts Market in the during the forecast period?
- What is the expected Plant Extracts Market size by 2029?
- Which company held the largest share in the Plant Extracts Market?
- Which application segment emerged as the leading segment in the Plant Extracts Market?
- Which product segment grabbed the largest share in the Plant Extracts Market?
About Maximize Market Research:
Maximize Market Research is a maximize market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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