Market Estimation & Definition

The Plant Extracts Industry was valued at USD 34.67 billion in 2023 and is projected to reach approximately USD 93.48 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.2% during the forecast period from 2024 to 2030. This market encompasses the extraction of bioactive compounds from plants, utilized across various industries such as food and beverages, pharmaceuticals, cosmetics, and dietary supplements .

Market Overview:

The negative impacts of using chemical compounds in agriculture have prompted the creation of alternative options, with researchers focusing on understanding the usefulness and potential of plant extracts in agriculture. The current research and scientific dissemination situation focus on how modern science has tackled the use of plant extracts in agriculture, particularly in seed applications. There is a promise for the use of plant extracts in agriculture, as evidenced by a large number of publications over the previous ten years, particularly in and Brazil stands out as the primary country in this study field.

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Report Scope:

The Plant Extracts market is segmented based on Form, Source, Product, Application, and Region. The growth of various segments helps report users in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

The growing demand for antioxidant formulations testing within the cosmetic industry:

Natural extracts are currently gaining popularity in the cosmetic industry. The use of antioxidants in topical formulations can help to reduce oxidative stress in the skin, which has been linked to aging. Many herbal substances used in cosmetics are generally chosen through a trial and error approach and are consequently utilized based on experience rather than experimental inquiry.

The evergreen scope of plant extracts for medicinal purposes:

Relatively 1–10% of plants are used by humans out of estimated 250,000–500,000 species of plants on Earth. Plant-based traditional medicine is important in the growth and development of current research since it serves as a preliminary step for the creation of innovations in drug discovery.

Water-based green extraction processing is a major opportunity for market growth:

Organic solvents are often used in conventional solid-liquid extraction of herbal raws, either for further isolating a particular ingredient or for selling the extract as a phytomedicine. Despite the benefit of pressured hot water extraction for non-polar compounds, organic solvents will undoubtedly play a major role in the next decade. Solvent costs dominate the whole process, especially for low-demand products.

Emerging Trends Shaping the Future

The plant extracts market is witnessing several emerging trends:

Sustainable Sourcing: There is an increasing emphasis on sustainable and ethical sourcing of plant materials to ensure long-term availability and environmental conservation .

Expansion into Functional Foods and Beverages: Functional foods and beverages enriched with plant extracts like antioxidants, adaptogens, and anti-inflammatory compounds are gaining popularity .

Technological Innovations in Extraction Methods: Advances in extraction technologies are improving the efficiency and yield of plant extracts, enhancing product quality and reducing production costs .

Explore the full report for an in-depth analysis: https://www.maximizemarketresearch.com/market-report/global-plant-extracts-market/32826/

Segmentation Analysis

The plant extracts market is segmented based on form, source, product, application, and region:

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 and . Furthermore, according to a 2024 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.

Regional Insights:

The World Health Organization (WHO) has been organizing an international network called the International Regulatory Cooperation for Herbal Medicines to strive to enhance the quality of medicinal plant-based products and the claims made for them. Only around 20% of nations had well-functioning regulatory bodies in , 30% had none, and over half had weak regulatory competence.

Europe is also a major producer, exporter, and consumer of pharmaceuticals. As a result, it is an important market for nutraceuticals, pharmaceuticals, and alternative therapies. The European market is predicted to grow during the forecast period as a result of the region's aging population, which has increased the demand for medicines and nutraceuticals.

Competitive Analysis

Key players in the global plant extracts market include:

1.Sensient Technologies (US)
2. International Flavors & Fragrances (US)
3. Prinova Group LLC. (US)
4.Synergy Flavors, Inc. (US)
5.Kalsec, Inc. (US)
6.Plant Extracts International (US)
7. PT. Indesso Aroma (Indonesia)
8.PT. Haldin Pacific Semesta (Indonesia)
9. Döhler (Germany)
10. Symrise AG (Germany)

Press Release Conclusion

The global plant extracts market is on an upward trajectory, fueled by the increasing consumer demand for natural and organic products across various industries. Technological advancements in extraction methods, coupled with sustainable sourcing practices, are shaping the future of the market. As companies continue to innovate and expand their product offerings, the plant extracts market is poised for significant growth in the coming years.

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Frequently Asked Questions:

1. Which is the potential market for Plant Extracts in terms of the region?

2. What are the opportunities for new market entrants?

3. What is expected to drive the growth of the Plant Extracts market in the forecast period?

4. What was the Global Plant Extracts Market size in 2024?

5. What segments are covered in the Plant Extracts Market report?

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