The growing consumer preference for natural products, increased awareness of their health benefits, and the rising demand for plant-based alternatives across various industries are what are driving the market for plant extracts. However, factors such as fluctuations in the availability of raw materials, strict regulatory requirements, and elevated processing expenses pose obstacles to market expansion.
Lewes, Delaware, May 10, 2024 (GLOBE NEWSWIRE) — The Global Plant Extracts Market is projected to grow at a CAGR of 12.3% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 31.14 Billion in 2024 and is expected to reach USD 61.5 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Plant Extracts Market”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| PORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | International Flavors & Fragrances Inc. (US), Givaudan (Switzerland), Symrise (Germany), Kerry Group Plc (Ireland), ADM (US), Kalsec Inc. (US), Kangcare Bioindustry Co., Ltd. (China) |
| SEGMENTS COVERED | By Type, By Form, By Application, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Plant Extracts Market Overview
Growing Consumer Preference for Natural Products: The growing consumer preference for natural options is fueling the need for plant extracts in the food, cosmetics, and pharmaceutical industries. This phenomenon stimulates market expansion as businesses leverage the attractiveness of plant-based alternatives, providing healthier options to consumers.
Rising Awareness About Health Benefits: The growing recognition of the positive health effects linked to plant extracts drives the expansion of the market. Consumers’ increasing focus on wellness is being capitalized on by businesses, who are meeting this need by introducing novel goods that are enhanced with botanical extracts. This strategy is resulting in increased sales and market expansion.
Increasing Demand for Plant-Based Alternatives: The plant extracts market experiences significant growth due to increased demand for plant-based alternatives in industries such as food, beverage, and personal care. Due to increasing worries about sustainability and the environmental consequences, businesses are transitioning towards using substances derived from plants, which is leading to the rise of the market.
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Variability in Raw Material Supply: The plant extracts market encounters difficulties as a result of fluctuations in the availability of raw materials, which have an impact on the consistency of production and pricing. Companies must effectively manage supply chain disruptions and allocate resources to develop strong sourcing strategies in order to minimize risks and maintain uninterrupted operations.
Stringent Regulations: Market competitors face considerable challenges due to regulatory constraints, which necessitate adherence to rigorous quality and safety requirements. Effectively navigating intricate regulatory environments requires significant resources and specialized knowledge, which can have a direct impact on the schedules for product development and strategies for entering the market.
High Processing Costs: The exorbitant expenses related to the processing of plant extracts impede market expansion, impacting business margins and pricing strategies. Businesses face challenges in managing costs associated with extraction technologies, personnel, and energy usage. To be competitive in the market, they must make efficiency enhancements.
Geographic Dominance:
Geographical supremacy in the extraction of plant compounds The market is characterized by its dynamic nature, with regions such as Asia-Pacific taking the lead due to their vast botanical resources and adherence to traditional herbal methods. Consumer tastes support a robust market for natural products throughout Europe. North America places a strong emphasis on innovation and research and development (R&D), which in turn contributes to the growth of the industry. Latin America and Africa, as emerging economies, present growth prospects driven by their abundant biodiversity and growing recognition of the benefits of herbal treatments. Geographical variables have a significant role in shaping market dynamics by impacting production, distribution, and consumer patterns.
Plant Extracts Market Key Players Shaping the Future
Major players, including International Flavors & Fragrances Inc. (US), Givaudan (Switzerland), Symrise (Germany), Kerry Group Plc (Ireland), ADM (US), Kalsec Inc. (US), Kangcare Bioindustry Co., Ltd. (China). and more, play a pivotal role in shaping the future of the Plant Extracts Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Plant Extracts Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Plant Extracts Market into Type, Form, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Plant Extracts Market, please Contact Verified Market Research®.
- Plant Extracts Market, by Type
- Herbal extracts
- Fruit and vegetable extracts
- Flower extracts
- Spice extracts
- Plant Extracts Market, by Form
- Dry Extracts
- Liquid Extracts
- Plant Extracts Market, by Application
- Food and beverage
- Pharmaceuticals
- Cosmetics and personal care
- Dietary supplements
- Agriculture
- Plant Extracts Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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