According to the analysis of Reports and Data The Plant Extracts Market is estimated to be valued at USD 26.32 Billion in 2020 and is projected to reach USD 82.25 Billion by 2028, at a CAGR of 17.4% from 2020 to 2028. Rising demand for plant extracts from end-use applications such as food & beverages, cosmetics & pharmaceuticals to present flavor, color, and food is driving the plant extract demand. A shift in consumer choice towards the consumption of herbal medicines is again fueling the plant extract market. Side-effects linked with the synthetically prepared drugs leading to several disorders have drastically improved the consumer preference towards the safe & herbal substitute. This, in turn, has propelled the market growth. The rising demand for extracted or herbal supplements are impacting the plant extracts market growth positively.
Rising awareness about the side-effects of synthetic flavors is driving the plant extracts market growth. The growing popularity of convenience foods may propel the expansion of the market. Increasing health benefits offered by phytomedicines and herbal extracts will boost the market within the forecast period. Extremely water-soluble mixtures, together with prolonged shelf life, are the factors widening the appliance of the merchandise in cosmetics, research, and other industries. Natural essential oils are the volatile, odoriferous oils collected from plants. These are found in special cells, glands or ducts located in different parts of a plant such as the leaves, barks, roots, flowers and fruits and sometimes in just one or two parts. These plant-based oils are usually present in small amounts and contain only a small fraction of the entire plant material.
To provide extensive portfolio and easy sourcing of raw materials to meet quality standards, Martin Bauer Group acquired BI Nutraceuticals in the year 2020; this acquisition of BI Nutraceuticals, a leading full-service producer and supplier of plant-based ingredients in the United States. The purchase creates an expanded portfolio of botanical ingredients and a versatile manufacturing hub servicing the U.S. Tea, Beverage, Food, and Dietary supplement industries. The deal with BI Nutraceuticals will enhance the Martin Bauer Group’s local abilities, including R&D, formulations, and production, in support of the Group’s tactics to encourage accelerated growth in North America. Martin Bauer Group’s portfolio is responsible for the sourcing of raw materials, with quality measures and checks the place starting at the source and maintaining throughout the acquisition and manufacturing processes.
The Plant Extracts market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Plant Extracts market.
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Competitive Landscape:
The research report offers details about leading companies in the global Plant Extracts market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- Givaudan (Switzerland),
- Sensient Technologies (US),
- Symrise AG (Germany),
- Kangcare Bioindustry Co., Ltd. (China),
- Indesso Aroma (Indonesia),
- Haldin Pacific Semesta (Indonesia),
- Vidya Herbs Private Limited (India),
- Tokiwa Phytochemical Co., Ltd.,
- Native Extracts Pty. Ltd. (Australia),
- Shaanxi Jiahe Phytochem Co., Ltd.
- Jiaherb, Inc. (China),
- Synthite Industries Private Ltd. (India),
- Döhler (Germany),
- International Flavors & Fragrances, Inc. (US),
- Martin Bauer GmbH & Co. KG (Germany),
- Arjuna Natural Extracts Ltd. (India).
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Market Segmentation:
The Global Plant Extracts industries are also studied based on leading segments, and examines dominant product and application segments in detail. The report aims to help reader’s benefits from the growth prospects existing in the market in the global Plant Extracts industries. It offers key information on drivers and restraints influencing the leading segments in the global Plant Extracts industries.
Plant Extracts Market Segmentation based on Types:
- Spices
- Essential oils
- Flavors & fragrances
- Phytomedicines & herbal extracts
Plant Extracts Market Segmentation based on source
- Leaves
- Fruits, flowers, and bulbs
- Rhizomes & roots
- Barks & stems
- Others (seeds, pods, and berries)
Plant Extracts Market Segmentation based on Application:
- Food & beverages
- Cosmetics
- Others (personal care products and toiletries)
For comprehensive coverage, the report discusses growth prospects, opportunities, and challenges. The market report considers various key factors across the leading regions.
Plant Extracts Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
Key Features of the global Plant Extracts Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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Key questions addressed in the Report:
- Which key players are operating in the global Plant Extracts market?
- Which key factors are expected to hamper global market revenue growth?
- What market size is the global Plant Extracts market expected to reach throughout the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2028?
- Which region is expected to account for robust revenue share throughout the forecast period?
- Which regional segment is expected to register fastest revenue CAGR throughout the forecast period?
- What revenue CGAR is the global Plant Extracts market expected to register during the forecast period?
- What are the key outcomes of Porter’s Five Force analysis of the Plant Extracts market?
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