Plant Extracts Market: Global Industry Analysis and Forecast (2023-2029)

Plant Extracts Market size was valued at US$ 34.67 Bn. in 2022 and the total Plant Extracts revenue is expected to grow at 13.2% from 2023 to 2029, reaching nearly US$ 82.58 Bn.

Plant Extracts 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 2019, 2020, and 2021, and Brazil stands out as the primary country in this study field. The primary subjects investigated for usage in agriculture have been the control of phytopathogenic microorganisms, insect control, biostimulant action, resistance induction, and herbicide effect. The direct application of plant extracts focuses on plants and seeds, with the latter primarily concentrating on phytopathogenic organism management and biostimulating impact. Plants are an essential source of innovative chemicals and products ranging from flavors to nutrition to cosmetics and pharmaceuticals. Plant-based therapies continue to play an important role in human health. Natural origin now accounts for 11% of the 252 medications designated essential by the WHO (World Health Organization). According to the National Center for Biotechnology Information, up to 50% of all authorized pharmaceuticals in the previous 30 years come from natural sources, either directly or indirectly. Plant-based medications account for 47% of all small molecule medicines used in cancer therapy.

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 bottom-up approach has been used to estimate the market size. Key Players in the Plant Extracts market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Plant Extracts market include Givaudan, Sensient Technologies, Symrise AG, and Kangcare Bioindustry. They are continuously strategizing on mergers and acquisitions, strategic alliances, joint ventures, and partnerships for the growth of their market shares.Plant Extracts MarketTo know about the Research Methodology:-Request Free Sample Report

Plant Extracts Industry Dynamics:

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. However, there is rising scientific evidence that plants have a large and sophisticated arsenal of active compounds capable of actively restoring, healing, and protecting the human skin. Also, plant extracts may include antibacterial or other beneficial components that influence the formulation of natural and non-chemical cosmetic products. The public's preference for natural and sustainable products is growing. Although the name "plant extract" implies useful and benign qualities, it may cause adverse responses in individuals. As a result, it is critical to address the issue of assuring the purity and safety of these extracts in cosmetic products before moving on to the more difficult challenge of proving efficacy. Given this fundamental premise, screening natural plant extracts with scavenging activity for pro-oxidant reactive species is a prerequisite for developing novel topical antioxidant compositions. 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. Medicinal plant use is both a significant resource and a need in underdeveloped nations and rural populations, and it also provides a viable alternative to primary healthcare systems. Plants continue to generate innovative treatments for humans, since 50% of all medications in clinical use globally are derived from natural compounds, with higher plants accounting for 25% of the total. According to the WHO, over 60% of the world's population relies on medicinal plants as their major source of treatment, and demand is growing in emerging economies. Traditional medicine (TM) techniques, for example, have been adopted by people in Africa, China, India, and many other nations. Plant-based traditional remedies are generally referred to as complementary or alternative medicine (CAM) in affluent nations, and their usage has steadily increased. Because of their accessibility and low cost of health treatment, medicinal plants are a significant source of income for indigenous and rural populations. They also provide many of the active compounds used in contemporary medications. Globally, between 50,000 and 80,000 flowering plants are utilized for medicine, with many of them harvested from natural resources. Compounds and extracts derived from plants used as drugs or in the process of clinical trial stage.
Drug Plant source Disease to treat
Galantamine Galanthus woronowii Losinsk Alzheimer’s disease
Combretastatin A4 phosphate Combretum caffrum Kuntze Anaplastic thyroid cancer
Huperzine A Huperzia serrata Alzheimer’s disease
Ingenol 3-angelate Euphorbia peplus L. Warts and actinic keratoses
Protopanaxadiol Panax ginseng Apoptotic effect on cancer cells
Harpagophytum procumbens extract Harpagophytum procumbens Hip and knee osteoarthritis
Sativex extract Cannabis sativa L. Neuropathic pain
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. For example, the cost of herbal raw material is USD 3/kg, with an annual capacity of 25%. The investment is worth USD 200,000. Due to loss, 10% of the solvent must be replaced after each extraction. Furthermore, the whole solvent is exchanged once a year to ensure consistent product quality. The solvent costs USD 3 per kilogram. Annual labor costs are USD 980,000. The annual depreciation and maintenance expenses are 2.5% each (multi-purpose herbal raw). Completely water-based techniques fully highlight the Green Extraction methodology. Also, they are kosher and halal, as well as directly GRAS, and thus represent excellent production technology for market demands. A process sequence of PHWE (Pressurised Hot Water Extraction) for concentration, purification based on chlorophyll precipitation, liquid-liquid extraction for pre-purification and/or chromatography, and final formulation by crystallization or direct lyophilization appears to be the most direct and logical manufacturing technology approach for the future, efficiently generating reliable product quality under all marked regulatory demands. This might be accomplished systematically using the QbD- (Quality by Design) method, which is required by regulatory bodies such as the FDA and EMA.

Plant Extracts Market Segment Analysis:

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 2021. Furthermore, according to a 2022 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 MarketBotanical interest is growing for a variety of reasons, including consumer demand for natural, healthful, functional ingredients. The COVID-19 outbreak has strengthened Plant Extracts Market demand, causing many customers to seek out healthful foods and beverages. Botanical elements provide a perceived health aura that draws customers in as they look for proactive solutions for natural energy, serenity, mental and physical performance, immunological health, and other advantages. Because of the pandemic, 44% of global consumers are selecting functional foods and beverages more frequently. From caffeinated water to tea to sports drinks, beverages provide a practical and diverse platform for functional botanicals. Botanicals have the extra appeal of being sourced from nature, in addition to purported wellness advantages. Consumers are interested in clean labeling, plant-based products, and more sustainable solutions when it comes to elements that are close to nature. The growing global demand for natural, healthy, and minimally processed food items has emerged as a primary driver supporting the growth of natural extracts' application scope in the food and beverage sector. Natural extracts' antimicrobial characteristics help preserve food and beverage items for a longer period, which is likely to drive product demand from producers that are focused on extending product shelf life without sacrificing quality. Food and beverage companies are using healthy and nutritional natural extracts in their product offerings due to rising customer preference for natural products over synthetic ones and rising demand for higher quality food items. However, due to their improper chemical composition, many essential oils are not deemed safe for internal usage. According to the FDA's Generally Recognized as Safe (GRAS) list, eucalyptus is one of the most dangerous essential oils for food and beverage applications.

Plant Extracts Market 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 2015, 30% had none, and over half had weak regulatory competence. Herbal medicines are the responsibility of a government department, AYUSH, under the Ministry of Health and Family Welfare in India, where Ayurveda has been practiced for millennia. Most products derived from medicinal plants had not been studied for safety and efficacy, and items marketed in developed nations and distributed by traditional healers in the developing world were of varying quality, sometimes including harmful toxins. Traditional Chinese medicine utilizes a vast range of botanicals, as well as other materials and procedures. Kew Gardens researchers discovered 104 diabetes-related species in Central America, seven of which had been reported in at least three distinct investigations. Researchers aided the Yanomami of the Brazilian Amazon in describing 101 plant species used for traditional treatments. Plant Extracts MarketThe European region led the market, accounting for more than 30% of global revenue in 2020. In European nations, the usage of essential oils as perfumes in cosmetics provides various prospects to producers of such essential oils and plant extracts. According to the Centre for the Promotion of Imports from Developing Countries, essential oil products presently account for more than 50% of global demand in this region, which is primarily driven by the natural and personal care and food and beverage sectors. 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. Also, customer desire for natural and healthier goods with greater efficacy is prompting manufacturers to spend on R&D efforts to produce natural products, which is expected to boost the natural extracts demand.

Plant Extracts Market Scope: Inquire before buying

Plant Extracts Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 34.67 Bn.
Forecast Period 2023 to 2029 CAGR: 13.2% Market Size in 2029: US $ 82.58 Bn.
Segments Covered: by Form 1.Dry 2.Liquid
by Source 1.Herbs & spices 2.Fruits & vegetables 3.Flowers 4.Other
by Product 1.Oleoresins 2.Essential oils 3.Flavonoids 4.Alkaloids 5.Carotenoids 6.Other
by Application 1.Food & beverages 2.Cosmetics 3.Pharmaceuticals 4.Dietary Supplements 5.Other

Plant Extracts Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Plant Extracts Market, Key Players are:

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) 11.Martin Bauer (Germany) 12.Blue Sky Botanics Ltd. (UK) 13.Ransom Naturals Ltd. (UK) 14.Organic Herb (UK) 15.Synthite Industries (India) 17.Vidya Herbs Private Limited (India) 18.Arjuna Natural Extracts (India) 19.Givaudan (Switzerland) 20.Kangcare Bioindustry Co.,ltd. (China) 21.Tokiwa Phytochemical (Japan) 22.NATIVE EXTRACTS Pty Ltd (Australia) 23. Network Nutrition (Australia) 24. Indena (Italy) 25. Naturex (France) 26. Frutarom Industries Ltd. (Israel) FAQs: 1. Which is the potential market for Plant Extracts in terms of the region? Ans. Europe is the potential market for Plant Extracts in terms of the region. 2. What are the opportunities for new market entrants? Ans. Water-based green extraction processing. 3. What is expected to drive the growth of the Plant Extracts market in the forecast period? Ans. The evergreen scope of plant extracts for medicinal purposes. 4. What is the projected market size & growth rate of the Plant Extracts Market? Ans. Plant Extracts Market was valued at US$ 34.67 Bn. in 2022 and the total Plant Extracts revenue is expected to grow at 13.2% from 2023 to 2029, reaching nearly US$ 82.58 Bn. 5. What segments are covered in the Plant Extracts Market report? Ans. The segments covered are Form, Source, Product, Application, and Region.
1. Global Plant Extracts Market: Research Methodology 2. Global Plant Extracts Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Plant Extracts Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Plant Extracts Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Plant Extracts Market Segmentation 4.1 Global Plant Extracts Market, by Form (2023-2029) • Dry • Liquid 4.2 Global Plant Extracts Market, by Source (2023-2029) • Herbs & spices • Fruits & vegetables • Flowers • Other 4.3 Global Plant Extracts Market, by Product (2023-2029) • Oleoresins • Essential oils • Flavonoids • Alkaloids • Carotenoids • Other 4.4 Global Plant Extracts Market, by Application (2023-2029) • Food & beverages • Cosmetics • Pharmaceuticals • Dietary Supplements • Other 5. North America Plant Extracts Market(2023-2029) 5.1 North America Plant Extracts Market, by Form (2023-2029) • Dry • Liquid 5.2 North America Plant Extracts Market, by Source (2023-2029) • Herbs & spices • Fruits & vegetables • Flowers • Other 5.3 North America Plant Extracts Market, by Product (2023-2029) • Oleoresins • Essential oils • Flavonoids • Alkaloids • Carotenoids • Other 5.4 North America Plant Extracts Market, by Application (2023-2029) • Food & beverages • Cosmetics • Pharmaceuticals • Dietary Supplements • Other 5.5 North America Plant Extracts Market, by Country (2023-2029) • United States • Canada • Mexico 6. Europe Plant Extracts Market (2023-2029) 6.1. European Plant Extracts Market, by Form (2023-2029) 6.2. European Plant Extracts Market, by Source (2023-2029) 6.3. European Plant Extracts Market, by Product (2023-2029) 6.4. European Plant Extracts Market, by Application (2023-2029) 6.5. European Plant Extracts Market, by Country (2023-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Plant Extracts Market (2023-2029) 7.1. Asia Pacific Plant Extracts Market, by Form (2023-2029) 7.2. Asia Pacific Plant Extracts Market, by Source (2023-2029) 7.3. Asia Pacific Plant Extracts Market, by Product (2023-2029) 7.4. Asia Pacific Plant Extracts Market, by Application (2023-2029) 7.5. Asia Pacific Plant Extracts Market, by Country (2023-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Plant Extracts Market (2023-2029) 8.1 Middle East and Africa Plant Extracts Market, by Form (2023-2029) 8.2. Middle East and Africa Plant Extracts Market, by Source (2023-2029) 8.3. Middle East and Africa Plant Extracts Market, by Product (2023-2029) 8.4. Middle East and Africa Plant Extracts Market, by Application (2023-2029) 8.5. Middle East and Africa Plant Extracts Market, by Country (2023-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Plant Extracts Market (2023-2029) 9.1. South America Plant Extracts Market, by Form (2023-2029) 9.2. South America Plant Extracts Market, by Source (2023-2029) 9.3. South America Plant Extracts Market, by Product (2023-2029) 9.4. South America Plant Extracts Market, by Application (2023-2029) 9.5. South America Plant Extracts Market, by Country (2023-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Sensient Technologies (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. International Flavors & Fragrances (US) 10.3. Prinova Group LLC. (US) 10.4. Synergy Flavors, Inc. (US) 10.5. Kalsec, Inc. (US) 10.6. Plant Extracts International (US) 10.7. PT. Indesso Aroma (Indonesia) 10.8. PT. Haldin Pacific Semesta (Indonesia) 10.9. Döhler (Germany) 10.10. Symrise AG (Germany) 10.11. Martin Bauer (Germany) 10.12. Blue Sky Botanics Ltd. (UK) 10.13. Ransom Naturals Ltd. (UK) 10.14. Organic Herb (UK) 10.15. Synthite Industries (India) 10.16. Vidya Herbs Private Limited (India) 10.17. Arjuna Natural Extracts (India) 10.18. Givaudan (Switzerland) 10.19. Kangcare Bioindustry Co.,ltd. (China) 10.20. Tokiwa Phytochemical (Japan) 10.21. NATIVE EXTRACTS Pty Ltd (Australia) 10.22. Network Nutrition (Australia) 10.23. Indena (Italy) 10.24. Naturex (France) 10.25. Frutarom Industries Ltd. (Israel)