The Major Key Players in Fermented Plant Extract Market are:
- ID bio (France)
- Phytoneering Extract Solutions GmbH (Germany)
- Xi’an Hao-Xuan Bio-Tech Co., Ltd (China)
- Xian Sost Biological Science & Technology Co., Ltd (China)
- Ecuadorian Rainforest, Llc (U.S.)
- Honson Pharmatech Group Ltd (Canada)
- Chengdu PRF Medication Research Co., Ltd (China)
Globally, fermented plant extract for fertilizer and animal feed application are in huge demand which is driving higher private investments by companies for more R&D of products. Majority of fermented plant extracts used in liquid form as it is more convenient for various applications. Growing acceptance of food products made by using natural fertilizer will change the market dynamics in upcoming years. Generally, brown sugar is used to extract the essence through osmotic pressure which makes fermented plant extracts rich enzyme solution full of essential bacteria for plant and animal growth.
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Globally the Fermented Plant Extract market is estimated to escalate at a higher growth rate which is supported by increasing demand of organic and natural fertilizer. Rising awareness among the consumers about health benefits of fermented plant extracts especially soybean, garlic and carrot is supporting the market growth. The growing consumption of natural health products is playing a key role to create demand for food products made from fermented plant extract from last few years.
All these factors contribute to the calculated CAGR of 5.5% of fermented plant extract market during 2017-2023.
Fermented Plant Extract has various industrial applications which includes food and beverages, fertilizer, pharmaceuticals, and animal feed. Fermented Plant Extract are generally rich in nutrients and enzymes which has triggered sales of healthy beverages made from fermented plant extract. Many farmers are preferring fermented plant extract especially seaweed for fertilization process due to increasing trend of organic farming. Seaweed extract is extracts of brown and blue-green algae contain high content trace elements, magnesium, and potassium. Their growth enhancing value is attributed to vitamins, plant hormones, and enzymes which ensures their huge demand in the agricultural industry.
The Global Fermented Plant Extract market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). Asia-Pacific region is estimated to dominate the market followed by North America. China and India are major fermented plant extract producers in the Asia-Pacific region. China dominates the market in Asia Pacific region due to large production of soybean fermented plant extract in China. Increasing demand of seaweed fermented extract from developed countries like U.K., Germany, and Italy is influencing the market growth in Europe region. U.S., Mexico and Canada are major fermented plant extract producers in the North-American region. Strong potential of crop production and rising application of fermented plant extract will boost market growth in North America region
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Global Fermented Plant Extract market is segmented by product, form, application and region.
- Fermented Plant Extract product has been segmented on the basis of product which includes soybean, comfrey, garlic, seaweed, nettles, carrot, dandelion, and others
- Fermented Plant Extract product has been segmented on the basis of form which includes liquid, powder, and others
- Fermented Plant Extract product has been segmented on the basis of application which includes food and beverages, pharmaceuticals, fertilizers, animal feed, and others
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