The rising awareness regarding the side-effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts have significantly fueled the market for plant extracts. Further, due to the growth in R&D activities in plant extracts market and increase in popularity of convenience foods, there has been a growing need for plant extracts in food & beverage industry.
The pharmaceuticals & dietary supplements segment is projected to account for the largest share in the plant extracts market. This can be attributed to increasing consumer awareness about the benefits of herbal medicines over allopathic medicines. Further, as a result of the growing incidents of illnesses due to stressful and busy lifestyles, consumers are demanding functional food & supplements for regular consumption.
The demand for phytomedicines & herbal extracts is increasing significantly in various applications, including skincare, health care, functional food, nutraceuticals, and cosmetics, due to the growing awareness of its health benefits among consumers. Also, improper use of antibiotics causes certain bacteria strains to develop resistance, which further leads to fatal consequences. These instances have encouraged the demand for plant-based medicines and supplements.
As a source, leaves are projected to record one of the fastest growth in the plant extract market during the forecast period. Leaves and herbs are used since ancient times to manufacture herbal medicines. However, they are now gaining tremendous popularity due to the changing consumer trend of using natural products rather than synthetic ones. The leaves of many plants, including rosemary, aloe vera, basil, thyme, clove leaves are highly rich in antioxidants and also offer anti-microbial properties.
Asia Pacific is projected to account for the largest market share during the forecast period.The market for plant extracts in the region is thriving due to strong local and international demand. The Asian countries such as China and India have a sizeable tropical area, having diverse medicinal and herbal plants. This allows small and medium-sized manufacturers of plant extracts, to have efficient processing of plant extracts as they are aware of the benefits offered by them, owing to the rich history of producing medicinal plants with advanced technology.
Key market players include Givaudan (Switzerland), Sensient Technologies (US), Symrise AG (Germany), Kangcare Bioindustry Co., Ltd. (China), PT. Indesso Aroma (Indonesia), PT. Haldin Pacific Semesta (Indonesia), Vidya Herbs Private Limited (India), among others.
Key Questions Addressed by the Report
· What are the growth opportunities in the plant extracts market?
· What are the major types of plant extracts?
· What are the key factors affecting market dynamics?
· What are some of the major challenges and restraints that the industry faces?
· Which are the key players operating in the market and what initiatives have they undertaken over the past few years?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Rise in Awareness Regarding the Side-Effects of Synthetic Flavors
188.8.131.52. Rise in Demand for Clean Label Products and Naturally Sourced Ingredients
3.1.2. Growth in R&D Activities
3.1.3. Increase in Popularity of Convenience Foods is Boosting the Demand for Plant Extracts
3.1.4. Health Benefits Offered By Phytomedicines and Herbal Extracts
3.2.1. Inadequate Supply of Raw Materials and Price Fluctuation
3.2.2. Lack of Awareness About the Advantages Offered By Plant Extracts in Developing
3.2.3. Availability of Substitutes and Adulterated Products
3.3.1. New Revenue-Generating Pockets Emerging Through Natural Sweeteners Category
3.3.2. Identification of New Herbs and Spices in Accordance With Changing Consumer
Preferences and Tastes
4. Executive Summary
5. Plant Extracts Market, By Type
5.1. Phytomedicines & Herbal Extracts
5.2. Essential Oils
5.4. Flavors & Fragrances
6. Plant Extracts Market, By Application
6.1. Pharmaceuticals & Dietary Supplements
6.2. Food & Beverages
7. Plant Extracts Market, By Source
7.1. Fruits ,Flowers & Bulbs
7.3. Rhizomes & Roots
7.4. Barks & Stems
8. Plant Extracts Market, By Region
8.1. North America
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.4. Australia & New Zealand
8.3.5. Rest of Asia Pacific
8.4. Rest of the World
8.4.1. South America
8.4.2. Middle East & Africa
9. Company Profiles
9.2. International Flavors & Fragrances, Inc. (IFF)
9.3. Sensient Technologies
9.4. Symrise AG
9.6. Synthite Industries Private Ltd.
9.7. PT. Indesso Aroma
9.8. PT. Haldin Pacific Semesta
9.9. Vidya Herbs Private Limited
9.10. Arjuna Natural Extracts Ltd.
9.11. Martin Bauer Group
9.12. Kangcare Bioindustry Co., Ltd.
9.13. Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.)
9.14. Tokiwa Phytochemical Co., Ltd.
9.15. Native Extracts Pty. Ltd.
10. Conclusion and Recommendations
11.2. Related Reports