The plant extracts market was valued at USD 34.4 billion in 2022 and is projected to reach USD 61.5 billion by 2027, recording a CAGR of 12.3% in terms of value. The plant extracts market is a rapidly growing industry, driven by the increasing demand for natural and organic products. Plant extracts are used in a wide range of applications, including cosmetics, food and beverages, pharmaceuticals, and nutraceuticals.
The demand for plant extracts is driven by their numerous health benefits, including antioxidant, anti-inflammatory, and anti-tumor properties. Additionally, consumers are becoming more health-conscious and are seeking natural alternatives to synthetic chemicals in their products.
The market for plant extracts is highly fragmented, with a large number of small and medium-sized companies operating in the industry. Some of the leading players in the market include Archer Daniels Midland, BASF SE, and Evonik Industries.
The market for plant extracts is expected to continue to grow in the coming years, driven by increasing demand for natural and organic products, as well as increasing awareness of the health benefits of plant extracts. Additionally, the rise of functional foods and the growing popularity of plant-based diets is expected to drive demand for plant extracts in the food and beverage industry.
Plant Extracts Market Growth Opportunities –
The plant extracts market is expected to grow significantly in the coming years, driven by increasing demand for natural and organic ingredients in various industries such as food and beverages, cosmetics and personal care, pharmaceuticals, and animal feed.
The rise in consumer awareness about the harmful effects of synthetic ingredients on health and the environment is expected to boost the demand for plant extracts. The increasing popularity of functional foods and beverages, such as energy drinks and supplements, is also driving the growth of the plant extracts market.
In the cosmetics and personal care industry, plant extracts are widely used as ingredients in skincare products, hair care products, and cosmetics, due to their natural properties, such as anti-aging, moisturizing, and skin-lightening effects.
Pharmaceutical companies are also using plant extracts in the production of various drugs, as they have shown to have therapeutic effects and are considered safer compared to synthetic drugs.
The global plant extracts market is segmented based on type, application, and geography. Some of the popular plant extracts include Aloe Vera, Green tea, Ginger, Curcumin, Grapeseed, and Soy.
The market is expected to witness significant growth in Asia-Pacific, driven by increasing demand for plant extracts in countries such as China, India, and Japan. The increasing awareness about the benefits of plant extracts in these countries is expected to boost the market growth.
Overall, the growth of the plant extracts market is expected to be driven by increasing consumer demand for natural and organic products, coupled with rising awareness about the benefits of plant extracts in various industries.
The key players in this market include International Flavors & Fragrances Inc. (US), Givaudan (Switzerland), Symrise (Germany), Kerry Group Plc (Ireland), ADM (US), and Synthite Industries Ltd (India), Kalsec Inc. (US), Kangcare bioindustry co. ltd. (China), Carbery Group (Ireland), DSM (Netherlands), Döhler (Germany), Synthite Industries Ltd (India), Indesso (Indonesia), and Vidya Herbs (India).
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