The global plant extracts market is estimated to witness a staggering CAGR by the year 2028.“Ultrasonication Assisted Extraction (UAE) involves ultrasonic acoustic cavitation technology that vibrates and accelerates the diffusion of solid into solvent phase. This high-frequency and high-intensity technology eliminates the need for complex machinery, it is widely used across both small and large scale industries and is relatively cost-effective.”
The growing demand for traditional herbal medicines and botanical products is driving the growth of the market. The plant extracts industry is further driven by the growing demand for homeopathy medicines and herbal skin care products. The advent of advanced technologies is minimizing the need for labor and is enhancing the productivity, which will significantly surge the development of plant extracts market during the upcoming years.
The plant extract market is segmented based on type mainly into spices which includes pepper fennel, coriander, natural extracts and essential oils. Natural extracts and essential oils include eucalyptus oil, citrus oil, mint oil, and others, fragrances and flavors. Fragrance and flavors include lemon balm, clary sage, chamomile, herbal extracts and phytomedicines. Herbal extracts include hops, ginseng and phytochemicals which includes protein inhibitors, phenolic compounds, and others.
Based on its form, the market has been segmented into liquid, power and others. Based on ingredient used, the segmentation includes Carotenoids, Phytosterols, Flavanoids, and others. Furthermore, the application segmentation includes food & beverages, pharmaceuticals, chemicals, cosmetics and others. Also, the food & beverage sector has been sub-divided into functional food and food additive.
In order to study the span of the industry, the plants extract market has been geographically segmented into the five key regions of North America, Europe, the Asia Pacific, the Middle East, and Africa, and Latin America. North America is holding the largest market share and the Asia Pacific is the fastest growing region attributed to the growing popularity of organic dietary supplements. The use of herbal practice or Ayurveda is a common practice in Asia and Africa since ancient ages to alleviate a wide array of ailments.
Some of the key players of the plant extracts market comprise Alkaloids Corp., Indena, Ingredia Nutritional, Berrypharma AG, Organic Herb Inc., Phytovation Ltd., Plant Extracts International Inc., Naturex, Prinova Group, Sigma-Aldrich Co. LLC, Kuber Impex Ltd., QUALIPHAR, Kangcare Bioindustry Co. Ltd., Lehmann & Voss & Co. Kg, Nantong Sihai Plant Extracts Co., Ltd., and Linnea S.A. among others.
The market participants have identified the major supply chain mechanism, distribution channels, industry cost structure and production capabilities. Considering the changing competitive dynamics and the current scenario of the industry, it has set the market to grow at an exponential rate during the forecast years.
Leading players of Plant Extracts including:
• Provital Group
• Chenguang Biotech
• Organic Herb
• Conba Group
• Gaoke Group
• Xi'an High Tech
• Wagott Bio-Tech
• Active Ingredients
• Natural Remedies
• Bioprex Labs
• Arjuna Natural
Market split by Type, can be divided into:
• Non-standardized Extracts
• Standardized Extracts
Market split by Application, can be divided into:
• Herbal Extracts
• Essential Oils and Natural Extracts
• Flavors and Fragrances
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA