New York, US, March 09, 2023 (GLOBE NEWSWIRE) -- A global Food & Beverages business-consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “Plant Extracts Market”, is a combination of primary data and secondary data and a domain expert has analyzed the Plant Extracts Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 30.63 Bn in 2021 to USD 82.59 Bn in 2029 at a CAGR of 13.2 percent. As per the report, the North America region is expected to dominate the global Plant Extracts Market during the forecast period.
Plant Extracts Market Report Scope and Research Methodology
| Market Size in 2021 | USD 30.63 Bn. |
| Market Size in 2029 | USD 82.59 Bn. |
| CAGR | 13.2 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 262 |
| No. of Tables | 114 |
| No. of Charts and Figures | 107 |
| Segment Covered | Form, Source, Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The main aim of the report is to present a complex analysis of the global Plant Extracts Market in simple language. The market report includes a segment-wise and region-wise analysis including drivers, restraints, opportunities and challenges. The analysis of the various segments helps the clients to acquire knowledge of the external and internal factors influencing market growth and develop different strategies to help identify key application areas and the gap in the target market.
The bottom-up approach has been used to estimate the global and regional Plant Extracts Market size. Primary and secondary research methods were used to gather the data for the Plant Extracts Market report. The key players in the market were identified through secondary research and their revenues were determined through both research methods. The report covers all the major aspects of the Plant Extracts industry with an in-depth analysis of key manufacturers that include market leaders, followers, and new entrants. The secondary data was collected through annual and financial reports of leading manufacturers, whereas primary research included interviews with market leaders and industry experts such as entrepreneurs, skilled front-line personnel and marketing professionals. SWOT analysis was employed to provide the strengths, opportunities, threats and weaknesses of the Plant Extracts Market.
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Plant Extracts Market Overview
Plant extracts are tissues treated with solvents for numerous functionalities to serve as skin medicines, anti-inflammatory, anti-infective, wetting, sterilizers and skin protection among others. During the forecast period, the increasing consumer demand for food, which is natural and lacks the addition of chemical preservatives is expected to drive the plant extract market growth.
Plant Extracts Market Dynamics
Growing focus of the companies on investment in research and development is expected to contribute largely to the Plant Extracts market growth. The increasing demand for essential oils in cosmetics, food and beverages, cleaning products and home fragrances for their relaxing, antiseptic and inflammatory properties drives the Plant Extracts market growth. The increasing consumption of herbal medicines is increasing across the world as an alternative treatment for health problems including heart disease, diabetes and others. However, the Plant Extracts Market growth is expected to be hampered by the availability of synthetic products.
Plant Extracts Market Regional Insights
The European region dominated the global Plant Extracts market. In 2021, the region accounted for 30 percent of global revenue. This dominance of the market was due to the immense use of plant extracts as a flavoring agent and to change the taste and appearance of the food.
The Plant Extracts market in the Asia Pacific region is also expected to grow at a high rate during the forecast period. This growth of the market is majorly expected due to the suitable environment for the plants used for the extraction and the easy availability of raw materials in the region.
Plant Extracts Market Segmentation
By Form
- Dry
- Liquid
By Source
- Herbs & spices
- Fruits & vegetables
- Flowers
- Other
By Product
- Oleoresins
- Essential oils
- Flavonoids
- Alkaloids
- Carotenoids
- Other
By Application
- Food & beverages
- Cosmetics
- Pharmaceuticals
- Dietary Supplements
- Other
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Plant Extracts Market Key Competitors include:
- Sensient Technologies (US)
- International Flavors & Fragrances (US)
- Prinova Group LLC. (US)
- Synergy Flavors, Inc. (US)
- Kalsec, Inc. (US)
- Plant Extracts International (US)
- PT. Indesso Aroma (Indonesia)
- PT. Haldin Pacific Semesta (Indonesia)
- Döhler (Germany)
- Symrise AG (Germany)
- Martin Bauer (Germany)
- Blue Sky Botanics Ltd. (UK)
- Ransom Naturals Ltd. (UK)
- Organic Herb (UK)
- Synthite Industries (India)
- Vidya Herbs Private Limited (India)
- Arjuna Natural Extracts (India)
- Givaudan (Switzerland)
- Kangcare Bioindustry Co.,ltd. (China)
- Tokiwa Phytochemical (Japan)
- NATIVE EXTRACTS Pty Ltd (Australia)
- Network Nutrition (Australia)
- Indena (Italy)
- Naturex (France)
- Frutarom Industries Ltd. (Israel)
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Form, Source, Product, Application and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
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Global Plant-Based Food & Beverage Market - The market size is expected to reach USD 120.05 billion by 2029 at a CAGR of 10.64 percent during the forecast period. The market is expected to be driven by the increasing occurrence of unhealthy lifestyles and rising chronic diseases.
Picrorhiza Extract Market - The market size is expected to reach USD 2.62 billion by 2029 at a CAGR of 3.8 percent during the forecast period. The market is expected to be driven by the increasing use of picrorhiza extract as herbal medicine and supplement with the increased use in the pharmaceuticals and medicinal sector.
Citrus Extract Market - The market size is expected to reach USD 8.46 billion by 2029 at a CAGR of 4.22 percent during the forecast period. The market is expected to be driven by the increasing demand for natural extracts in food and beverage items with high nutritional value.
Acerola Extract Market - The market size is expected to reach USD 27.48 million by 2029 at a CAGR of 7 percent during the forecast period. The market is expected to be driven by the increasing demand in the food industry for bread and meat-related and medical applications.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
