Plant Extracts Market by Type, Sources, Form, Application

List of Tables

[198 Pages Report] The Plant Extracts Market size was estimated at USD 40.24 billion in 2023 and expected to reach USD 43.48 billion in 2024, at a CAGR 8.27% to reach USD 70.19 billion by 2030.

Plant extracts are concentrated substances or compounds derived from the processing of different parts of plants, such as leaves, roots, fruits, or flowers, aimed at preserving the active compounds responsible for the plant's therapeutic or aromatic properties. These extracts are pivotal in various industries, including pharmaceuticals, cosmetics, food and beverages, and nutraceuticals, due to their natural origin, perceived health benefits, and versatility in application. The market for plant extracts is experiencing significant expansion driven by the rising consumer preference for natural and organic products, heightened awareness regarding the health benefits associated with plant-based ingredients, and continuous innovation in extraction technologies enhancing the efficiency and purity of extracts. Despite their popularity, plant extracts face challenges, including issues of sustainability, standardization, and potential adverse effects when improperly used or processed. Addressing these concerns requires stringent regulatory oversight, advancements in sustainable farming and extraction practices, and continuous research to ensure the safety and efficacy of extracts. The exploration of novel plant sources with unique health benefits, development of more targeted and efficient extraction techniques, and expansion into new application areas driven by evolving consumer demands for sustainable and health-promoting products are expected to grow the requirement for plant extracts in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 40.24 billion
Estimated Year [2024]	USD 43.48 billion
Forecast Year [2030]	USD 70.19 billion
CAGR (%)	8.27%

Type: Rising preference for essential oils and natural extracts with popularity of vegan products

Essential oils and natural extracts are highly concentrated plant components known for their aroma and therapeutic properties. They are widely used in aromatherapy, cosmetics, and personal care products. Consumer preference tends to lean towards organic and sustainably sourced options due to growing awareness of environmental impact and purity. The flavors & fragrances segment focuses on extracts used to enhance the taste and aroma of food, beverages, and perfumes. Consumer preferences are dynamically shifting towards natural, plant-based flavors and fragrances, with an emphasis on unique and exotic profiles. Phytochemicals are compounds produced by plants in supplements and pharmaceuticals due to their health-promoting properties. The demand is inclined towards those with antioxidant, anti-inflammatory, and immune-boosting functions. Phytomedicines and herbal extracts are used for therapeutic purposes, representing a significant segment of alternative medicine. Consumers frequently opt for these natural remedies to address holistic health concerns, ranging from stress relief to chronic disease management. Spices not only enhance flavor but also offer various health benefits, including anti-microbial and anti-inflammatory properties. Consumer trends are showing a preference for organic and ethically sourced spices.

Application: Exponential utility of plant extracts in food & beverage industry

The cosmetics industry extensively utilizes plant extracts for their natural appeal and functional benefits, such as anti-aging, antimicrobial, and antioxidant properties. Consumers increasingly prefer cosmetics derived from natural ingredients over synthetic ones. Dietary supplements are another significant application for plant extracts, capitalizing on the shift toward natural health products. Extracts such as turmeric, echinacea, and ginseng are popular for their health-boosting properties. In the food and beverage sector, plant extracts are used for flavoring, coloring, and preserving food products. There is a growing consumer preference for "clean label" products that are free from artificial ingredients. The pharmaceutical industry employs plant extracts both as active ingredients in medications and as supplements for health maintenance. The effectiveness of these extracts in treating various ailments has been validated through scientific research, leading to increased adoption.

Regional Insights

In the Americas, the focus on health and wellness drives the significant use of plant extracts in dietary supplements and pharmaceuticals. This region benefits from robust R&D capabilities and a strong regulatory framework, fostering a competitive but innovative environment for plant extract companies. The APAC region, led by countries such as China and India, showcases a deep-rooted historical connection to plant extracts, primarily in traditional medicine, which has seamlessly transitioned into modern applications such as cosmetics and foods. The area is a major producer, benefiting from a vast array of plant biodiversity and cost-effective labor, which also makes it a global exporting hub. A mix of traditional family-run operations and burgeoning modern enterprises characterizes the extract industry in APAC. In contrast, the EMEA region exhibits a strong inclination towards scientific research and quality, with a regulatory landscape that emphasizes safety and efficacy, particularly in the European Union. The use of plant extracts in EMEA is diverse, spanning pharmaceuticals, nutraceuticals, and an expanding natural cosmetics sector. Production is more fragmented than in APAC, with a significant portion of raw materials sourced internationally. However, companies in EMEA often lead in certification and sustainability efforts, catering to a consumer base that values ethical and environmentally friendly products.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Plant Extracts Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Plant Extracts Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Plant Extracts Market, highlighting leading vendors and their innovative profiles. These include Archer-Daniels-Midland Company, Bio Answer Holdings Inc., Blue Sky Botanics Ltd., Botanic Healthcare Group, Chr. Hansen A/S, Dohler GmbH, Euromed S.A., FLAVEX Naturextrakte GmbH, Frutarom Industries Ltd., Herbal Creations, Indena Spa, International Flavors & Fragrances Inc., Kalsec Inc., Kemin Industries Inc., Kuber Impex Ltd, Martin Bauer GmbH & Co. KG, Natac, S.L.U, Native Extracts Pty Ltd., Organic Herb Inc., S.A. Herbal Bioactives LLP, Sensient Technologies Corporation, Symrise AG, Synthite Industries Ltd., Tokiwa Phytochemical Co., Ltd., and Vidya Herbs Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Plant Extracts Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Essential Oils & Natural Extracts
- Flavors & Fragrances
- Phytochemicals
- Phytomedicines & Herbal Extracts
- Spices

Sources
- Flowers & Leaves
- Fruits & Vegetable
- Seeds & Barks

Form
- Dry
- Liquid

Application
- Cosmetics
- Dietary Supplements
- Food & Beverage
- Pharmaceutical

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Plant Extracts Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Plant Extracts Market?

3. What are the technology trends and regulatory frameworks in the Plant Extracts Market?

4. What is the market share of the leading vendors in the Plant Extracts Market?

5. Which modes and strategic moves are suitable for entering the Plant Extracts Market?

Product Code: MRR-46132FF79E76

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Higher demand for dietary supplements and functional foods
  - 5.1.1.2. Increased demand for natural ingredients for personal care products
- 5.1.2. Restraints
  - 5.1.2.1. Complex production of plant extracts
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in plant extract sourcing and processing
  - 5.1.3.2. Emerging development of herbal and natural medicines
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with the quality of plant extracts
5.2. Market Segmentation Analysis
- 5.2.1. Type: Rising preference for essential oils and natural extracts with popularity of vegan products
- 5.2.2. Application: Exponential utility of plant extracts in food & beverage industry
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Plant Extracts Market, by Type

6.1. Introduction
6.2. Essential Oils & Natural Extracts
6.3. Flavors & Fragrances
6.4. Phytochemicals
6.5. Phytomedicines & Herbal Extracts
6.6. Spices

7. Plant Extracts Market, by Sources

7.1. Introduction
7.2. Flowers & Leaves
7.3. Fruits & Vegetable
7.4. Seeds & Barks

8. Plant Extracts Market, by Form

8.1. Introduction
8.2. Dry
8.3. Liquid

9. Plant Extracts Market, by Application

9.1. Introduction
9.2. Cosmetics
9.3. Dietary Supplements
9.4. Food & Beverage
9.5. Pharmaceutical

10. Americas Plant Extracts Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Plant Extracts Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Plant Extracts Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Innovative, Plant-extract Blend Boosts Flavour and Preserves Freshness in Dry Baked Goods
- 13.3.2. Nine New Products Announced at doTERRA Global Convention
- 13.3.3. VedaOils Launches Functional Essential Oil Line for 2023
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio