The “Plant Extracts Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Plant Extracts Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global plant extracts market size was US$ 30.9 billion in 2021. The global plant extracts market is forecast to grow to US$ 69.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
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Plants extracts are widely recognized for their healing capacity. Thus, they are widely used in medical applications. Further, various exotic plants find applications in aromatic treatments.
Factors Influencing the Market
Rising demand for aroma therapies and the increasing prevalence of diseases will fuel the growth of the global plant extracts market. Further, rising awareness about the negative impacts of artificial chemicals will fuel the demand for natural treatments in the coming years. As a result, it will boost the growth of the global plant extracts market during the forecast period.
Plant extracts are widely used as natural flavouring agents, sweeteners, and preservatives in the goods & beverage industry. This sector is gaining wide traction due to changing consumer habits. As a result, it will fuel the growth of the global plant extracts market during the study period.
Growing R&D activities to prompt the use of natural products, combined with the Food and Drug Administration (FDA) bans on the use of synthetic colouring, will benefit the global plant extracts market during the study period.
Plant extracts also find a wide range of applications in the healthcare sector due to their outstanding therapeutic capabilities. However, the high cost associated with plant extracts may limit the growth of the overall market.
Regional Analysis
Europe is forecast to dominate the plant extracts market due to rising awareness about the benefits of herbal remedies. In addition, the rapidly growing cosmetics and personal care sector in the region will contribute to the growth of the plant extracts market. Further, the rising medical industry in the region will also escalate the growth of the global plant extract market during the study period.
The Asia-Pacific plant extracts market will also register a significant growth rate due to the rising demand for plant-based products in the region. In addition to that, increasing demand for natural plant-based cosmetic products will also contribute to the growth of the market.
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COVID-19 Impact Analysis
The medical industry witnessed substantial growth due to the COVID-19 outbreak. Moreover, demand for natural plant-based remedies increased across various countries, which significantly contributed to the growth of the global plant extract market. Further, according to guidelines introduced by WHO, it was essential to consume immunity-boosting food products. As a result, it has been opportunistic for the plant extract market.
Competitors in the Market
? JiaHerb
? Schwabe
? Provital Group
? Naturex
? Ipsen
? Bioforce
? Chenguang Biotech
? Euromed
? Avoca (Pharahchem)
? Sabinsa
? Tsumura&Co
? Rainbow
? Comba Group
? BGG
? Other Prominent Players
Market Segmentation
The global plant extracts market segmentation focuses on Type, Application, sources, and Region.
By Type
? Phytomedicines & herbal extracts
? Essential oils
? Spices
? Flavors & fragrances
By Application
? Pharmaceutical & dietary supplements
? Food & beverage
? Cosmetics
? Others
By Sources
? Fruits, flowers, and bulbs
? Leaves
? Barks & stems
? Rhizomes & roots
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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