Emphasis on Extraction Techniques (Medicinal Plant Extracts, Aromatic Plant Extracts); Product Type (Phytomedicines, Essential Oils, Flavonoids, Oleoresins, and Others); Form (Powder and Liquid); and End-Users (Pharmaceuticals, Cosmetics, Dietary Supplements, and Food & Beverages); and Region/Country
The Plant Extract market was valued at USD 36,810.00 million in 2022 & expected to grow at a strong CAGR of around 9.2% during the forecast period (2022-2030) owing to the rising awareness of the health benefits of plant-based extracts and the rising demand for natural and organic products. Adding to this, the advancements in extraction technology and research on the medicinal properties of plants have also contributed to the growth of the market during the forecast period. For instance, in April 2022, Symrise launched Hydrolite 8 green, a multifunctional green cosmetic made entirely of bio-based caprylyl glycol. Moreover, the use of plant extracts in the cosmetics industry is increasing due to their potential therapeutic benefits and ability to enhance skin and hair health.
Some of the major players operating in the market include Givaudan, Döhler GmbH, Symrise, MartinBauer, ADM, Kemin Industries, Inc., International Flavors & Fragrances Inc., Chr. Hansen Holding A/S, Indena S.p.A., Sensient Technologies Corporation, Nutra Green Biotechnology Co., Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst extraction technique, the aromatic plant extracts segment is expected to grow with a significant CAGR during the forecast period”
Based on extraction techniques, the market is segmented into medicinal plant extracts and aromatic plant extracts. Amongst these, the aromatic plant extracts segment is expected to grow with a significant CAGR during the forecast period. This is mainly due to the rising awareness of the advantages of essential oils and the rising demand for aromatherapy products. The aromatic plant extract market is expanding because aromatherapy products like diffusers, candles, and bath products frequently incorporate essential oils.
“Amongst end-users, cosmetics captured the majority share of the plant extract market in 2022”
By the basis of end-users, the market is segmented into pharmaceuticals, cosmetics, dietary supplements, and food & beverages. The cosmetics category held a significant share in 2022. This is because of the rising popularity of plant-based ingredients and the rising demand for natural and organic cosmetics. The cosmetic extracts market is also expanding because of increasing demand for skin care and anti-aging products as well as an increase in cosmetic industry research and development.
“Asia-Pacific lead the growth”
Asia-Pacific dominated the plant extract market in 2022. This is because of the increasing number of domestic and international manufacturers of plant-based products and their availability in retail establishments. According to the data of The World Bank in 2021, the manufacturing, value added is 25% of the GDP in East Asia-pacific. Moreover, the growing import of flavoring products, along with domestic consumption is driving the growth of the market in the Asia-Pacific region. For instance, PepsiCo will launch its first domestic market-inspired launch, an Osmanthus-flavored soft drink, in May 2020, placing comfort and local culture at the center of its NPD strategy in China.
Plant Extract Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Plant Extract Market Covid-19 Impact
6. Global Plant Extract Market Revenue, 2020-2030f
7. Market Insights By Extraction Techniques
8. Market Insights By Product Type
9. Market Insights By Form
10. Market Insights By End-users
11. Market Insights By Region
12. Plant Extract Market Dynamics
13. Plant Extract Market Opportunities
14. Plant Extract Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Pricing Analysis
18. Strategic Insights
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
Research Methodology for the Plant Extract Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global plant extract market were the three major steps undertaken to create and analyze the adoption of plant extract in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global plant extract market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the plant extract market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the plant extract market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as extraction technique, product type, form, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the plant extract market. Further, we conducted factor analysis using dependent and independent variables such as extraction technique, product type, form, and end-users of the plant extract market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the plant extract market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global plant extract market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global plant extract market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the extraction technique, product type, form, and end-users in the global plant extract market.
The main objective of the Global Plant Extract Market Study
The current & future market trends of the global plant extract market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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