Plant Extract Market is estimated to be US$ 56.02 billion by 2030 with a CAGR of 6.2% during the forecast period
Plant Extract Market accounted for US$ 30.8 billion in 2020 and is estimated to be US$ 56.02 billion by 2030 and is anticipated to register a CAGR of 6.2%. Plant extracts are unprocessed combinations of plant components. Plant extracts can be used to extract valuable or desired components using a variety of extraction techniques. Plant extracts are widely employed in the food sector for a variety of food and additive purposes. Resin alcohols, starches, phlegmatic, carotenoids, hydrocarbon resins, gums, and quinones are among the chemical compounds found in these extracts. Plant extracts are used for a variety of purposes, including skin medications, anti-irritants, wetting, anti-inflammatory, sterilisers, anti-infectives, and skin protection. Plant extracts are frequently employed in pharmaceutical, chemical, and cosmetic goods because of their medicinal characteristics.
The report "Global Plant Extract Market, By Types (Herbal Extracts, Phytochemicals, Spices, Essential Oils and Natural Extracts, Flavours and Fragrances, and Others), By Forms (Powder, Liquid, and Others), By End-Uses (Pharmaceuticals, Cosmetics, and Functional Food and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In February 2021, Givaudan's active beauty department (Active Beauty) utilizes the beauty properties of nootropic materials to introduce 6 plant extracts that are beneficial to the skin.The 6 extracts are extracted from guarana, ginger, green tea, kola nut, ginkgo biloba and green coffee. Nootropic materials have an auxiliary effect on improving executive functions such as memory, creativity and motivation. Givaudan is currently focusing on its beauty properties, including soothing and purifying the skin and moisturizing.
· In January 2019, Pierre Fabre has announced the launch of Green Native Expression, a new patented extraction technology, natural and eco-friendly. Eight years of research and development were required for Pierre Fabre to develop this process that works without adding water or solvent.
Analyst View:
The key factor driving the growth of the global plant extract market is increasing demand for plant extracts from the pharmaceutical sector due to rising costs of conventional allopathic medicines and their associated side-effects. Another factor projected to assist the target market's expansion during the forecast period is rising demand for plant extracts as people become more aware of the health benefits connected with herbal medicines and herbal products. Furthermore, to suit consumer preferences, food and beverage firms have begun introducing natural ingredients into their goods.
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Key Market Insights from the report:
Global Plant Extract Market accounted for US$ 30.8 billion in 2020 and is estimated to be US$ 56.02 billion by 2030 and is anticipated to register a CAGR of 6.2%. Global Plant Extract is segmented into type, forms, end-users method and region.
· Based on Type, the Global Plant Extract Market is segmented into Herbal Extracts, Phytochemicals, Spices, Essential Oils and Natural Extracts, Flavours and Fragrances, and Others.
· Based on Forms, the Global Plant Extract Market is segmented into Powder, Liquid, and Others.
· Based on End-users, the Global Plant Extract Market is segmented into Pharmaceuticals, Cosmetics, and Functional Food and Beverages.
· By Region, the Global Plant Extract Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Plant Extract Market:
The key players in the global Plant Extract Market includes Picks Organic Herb Inc., Plant Extracts International Inc., Network Nutrition Pty Limited, FT Technologies Inc., Lehmann & Voss & Co. KG, Ingredia Inc., TimTec, Inc., Alkaloids Corporation, Herbal Extract Company, and Nantong Sihai Plant Extracts Co., Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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