Overview:
Plant
extract is the collection of essential crude mixtures from extraction
of different parts of plants, which is extracted by using solvent
such as ethanol or water. Plant extracts are the substances
containing desirable properties extracted from herbaceous plants
which is finding increasing and extensive uses in various industries
such as pharmaceuticals for therapeutic properties and herbal
medicines, cosmetics for functional properties in skincare related
products, and food and beverages in which. Plant extracts containing
phytochemical compounds such as carotenoids and flavonoids are
primarily used in dietary supplements that is fuelling the demand for
global plant extract market. Plant extracts can be used in the form
of tincture or in powder form. Nutraceutical industries are using
plant extracts in their products due to the rising consumer demand
for plant extract nutritional supplements. Shifting consumer
preference for natural plant extract based products is a major
driving factor for the growth of plant extract market.
Know
More About Plant
Extract Market Report
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Global
Plant Extract: Market Segmentation
The
global plant extract market is segmented on the basis of type, form,
application and region type. The plant extract market is segmented on
the basis of type mainly into spices which includes coriander, pepper
fennel and others, essential oils and natural extracts that includes
eucalyptus oil, mint oil, citrus oil and others, flavors and
fragrances which includes clary sage, lemon balm, chamomile and
others, phytomedicines and herbal extracts that includes ginseng,
hops and others, phytochemicals which includes phenolic compounds,
protein inhibitors and others.
The
global plant extract market is also segmented on the basis of form
primarily into powder, liquid and others.
The
plant extract market is segmented on the basis of applications in
which plant extracts are used in pharmaceuticals, cosmetics,
chemicals, food and beverages and others. The food and beverage
segment is further sub segmented into food additives and functional
food. Hence, the global plant extract market is expected to
significantly increase the revenue contribution over the forecast
period.
Global
Plant Extract Market: Regional Outlook
Geographically,
the global plant extract industry can be divided by major regions
which include North America, Latin America, Europe, Asia Pacific,
Middle East and Africa. Globally, among all regions, North America
has developed as the most dominant region in global plant extract
market followed by Asia Pacific. Increasing health benefits coupled
with rise in plant extracts dietary supplements has strengthened the
growth of global Plant extract market and hence is projected to
significantly expand the revenue contribution of the market over the
forecast period.
Global
Plant Extract Market: Growth Drivers
The
global
plant extract market driving factors are increasing demand for
herbal medicine and homeopathy products due to rising changes in
consumer behavior that has influenced the global plant extract
market. Increasing acceptance plant extract based products as a
result of rising awareness and health concerns among consumers are
the major driving factors of the global plant extracts market. The
other driving factors of global plant extract market is the rising
awareness of usage of natural skincare products that contains plant
extracts instead of artificial ingredients. Hence, along with
changing consumer preferences, the growth of global plant extract
market is significantly increasing over the forecast period.
Global
Plant Extract Market: Players
Some
of the key players identified across the value chain of the global
plant extract market includesOrganic Herb Inc., Plant Extracts
International Inc, Lehmann & Voss & Co., MB-Holding GmbH &
Co.KG, Kalsec Inc, Alkaloids Corporation, Nantong Sihai Plant
Extracts Co., Ltd, Prinova Group, K Patel Group and Indena USA Inc.
The companies are expected to expand their business by enhancing
their product portfolio in global Plant extract market. The companies
are projected to frame certain strategies in future in order to gain
the competitive advantage in global Plant extract market till 2024.
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