Plant Extracts Market Size Worth Around USD 22.49 Bn by 2030

Ottawa, March 23, 2022 (GLOBE NEWSWIRE) -- The global plant extracts market size was estimated at USD 10.19 billion in 2021. Plant extracts have huge demand from healthcare industry and hence are mainly used in this industry. These substances have extraordinary therapeutic properties. As a result, they're widely used in a variety of treatments. The worldwide plants extract market is expected to increase at an exponential rate through time as a result of these applications. Furthermore, several exotic plants are employed in aromatherapy therapies like sauna and massage. These applications are also a primary driver of the global plant extract market's current expansion.

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Unlike most chemical-based substances used in personal care and cosmetics, medications, and food and beverage items, natural extracts have no negative side effects. Furthermore, environmental and natural ingredient sourcing has become a primary priority for businesses, particularly in North America and Europe. Natural extracts are expected to stimulate product demand in pharmaceutical and nutraceutical applications due to their numerous overall health advantages. These factors are anticipated to have a substantial impact on product demand in the near future.

Herbal medications are mainly sold as dietary supplements or nutraceuticals with health claims in regions such as North America, which are pre-approved by the Food and Drug Administration (FDA) under the Dietary Supplements Health and Education Act. In comparison to traditional pharmaceuticals, these items are subject to less strict FDA regulations. The European countries are a prominent manufacturers and consumers of pharmaceutical products. Europe region will emerge as a key market for nutraceuticals, drugs, and alternative drugs. The European market is forecasted to grow with significant CAGR over the coming years thanks to the growing older population that has driven the demand for pharmaceuticals and nutraceuticals in the region.

Rising consumer preference to get natural products possesses resulted in the development of fresh applications in personalized care and magnificence products. Rapid industrialization and growing non reusable consumer income, specifically in emerging financial systems such as China and Taiwan, India, Vietnam, together with Thailand, are many of the macro factors steering progress in Asia Pacific region. Rising application opportunity on account regarding growing consumer attention regarding health rewards and negligible area effects associated using gas is predicted to spur their very own demand inside the health care industry. Growing using regard to perfumed flavors and scents in cosmetics, fragrances, as well while spa and leisure applications is predicted to fuel typically the demand over typically the next six decades.

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Report Highlights

• The food and beverage held the largest market share in application segment with more than 45% revenue coming from food & beverages industry. The rising demand for safe, natural, and minimally processed food products from all over the world has emerged as the major factor boosting the expansion of plant extracted ingredients in the food industry.
• Dried crops category held the largest market share in 2020 in product type segment. The rising requirement for dried crops in the sectors of end-use such as food & beverage is likely to foster the demand for dried crops.

Market Dynamics

Driver

Growing Demand for Natural Flavors from Food & Beverages, and Cosmetic Industry Boosting Market Growth

Even though synthetic antioxidants in addition to flavors have already been traditionally used, safety problems have been brought up over time. Moreover, over the past few years consumer awareness regarding side effects associated with synthetic ingredients is usually increasing. Long-term consumption of synthetic anti-oxidants might result in well-being issues, such since skin allergies, stomach tract problems in addition to in some instances increased the particular risk of tumor. To go together with the consumer move towards natural elements, manufacturers are likewise using more normal extracts within their items. Use of normal antioxidants allows makers to fulfill the particular requirements of customers for cleaner-label items with exclusive normal ingredients.

Some herb extracts used since antioxidants are typically exacted from grape seeds, green teas, pine bark, rosemary, pomegranates. These items have got similar or much better properties when compared with natural antioxidants. Sage in addition to rosemary essential skin oils exhibited similar antioxidant properties to BHT in refrigerated porcine liver pâté. This kind of trend is boosting the interest involving researchers for fresh innovating flavors from natural extracts without affecting the consumers’ perceptions along with the good quality of the ultimate products.

Restraint

Strict regulations and Various quality standards for Various Countries Restraints Market Growth

Although demand for plant extracts is increasing all over the world, there are also strict guidelines for use of these products. Some plant extracts that are being used in traditional drugs in several portions of the world are seen to contain toxic chemicals that may direct to severe side effects or even demise. Throughout order to give protection to the use of these potentially dangerous herbs, attention and safety management methods are required, for example they must move through proper finalizing procedures for the purpose of normalizing the toxicity or reducing the side effects prior to use. They must use under stringent methods of control and supervision by experienced and/or trained staff members. When poisoning and accidents related to the use of these dangerous herbal remedies occur, proper medical treatment should receive immediately. Member Areas should promote and be sure the safe use of potentially toxic herbal remedies and their formulations. Member States ought to establish national insurance policies to achieve effective control of natural and organic safe practices and fortify threat assessment and management. Such complex rules and regulations might hinder market growth over the forecast period.

Opportunity

Opportunities in Invention and Innovation of New Herbs and Spices

As the consumer demand for natural products from all the industry verticals is growing, opportunities lies in inventing new ingredients from new plant species. Market players can launch new products with new natural ingredients which will give better results than synthetic ingredients. Investing in R&D facilities will give market players opportunity to bring new products in the market and increase consumer reach through it.

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Challenges

Absence of Advanced Biotechnologies Procedures to Challenge Market Growth

The lack of advanced biotechnologies for efficient extraction in low-income areas, supply chain inefficiencies, and price sensitivity are all issues for the natural extracts sector. Furthermore, in many countries, such as India and China, awareness of organic farming and production without the use of toxic agrochemicals is minimal. This aspect limits growers' and farmers' options for obtaining products that meet particular criteria, such as organic-certified items in many European countries.

Segments Covered in the Report

By Product

• Essential Oils
• Oleoresins
• Herbal Extracts
• Natural Colors
• Dried Crops
• Spices
• Flavors & Fragrances
  
  

By Application

• Personal Care & Cosmetics
• Food & Beverage
• Animal Feed
• Pharmaceuticals
• Nutraceuticals
• Others

By Sources

• Fruits, flowers and bulbs
• Leaves
• Barks & stems
• Rhizomes & roots
• Others
  
  

By Form

• Powder
• Liquid

By Method

• Maceration
• Infusion
• Decoction
• Percolation
• Soxhlet
• Ultrasound-Assisted Extraction
• Supercritical Fluid Extraction
• Phytonics Process
• Microwave Assisted Extraction
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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