DUBLIN--(BUSINESS WIRE)--The "Plant Extracts Market by Type (Phytomedicines & Herbal Extracts, Essential Oils, Spices, Flavors & Fragrances), Application (Pharmaceuticals & Dietary Supplements, Food & Beverages, Cosmetics), Source, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The plant extracts market is estimated to be valued at USD 23.7 billion in 2019 and is projected to reach USD 59.4 billion by 2025, at a CAGR of 16.5% from 2019 to 2025.
Factors such as rising awareness regarding the side-effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts drive the market growth for plant extracts.
By type, the phytomedicines & herbal extracts segment is projected to witness the fastest growth during the forecast period
The phytomedicines & herbal extracts segment is estimated to grow at the highest CAGR due to increasing demand from the pharmaceutical & dietary supplement and cosmetics industries across the globe. Phytochemicals and herbal extracts appear to have significant physiological effects on the human body. Whether they act as antioxidants, mimic hormones, stimulate enzymes, interfere with DNA replication, destroy harmful bacteria, or bind cell walls, they could potentially curb the onset of cancer and heart diseases. These benefits, along with the natural occurrence of these extracts, create a growing demand for the herbal extracts across the globe.
By application, the cosmetics segment in plant extracts market is projected to grow at the highest CAGR during the forecast period
Based on application, the plant extracts market is segmented into phytomedicines & dietary supplements, food & beverages, cosmetics, and others (personal care products & toiletries). The growing consumer interest in natural self-care products is driving the increasing use of plant extracts in the cosmetics segment. The changing consumer lifestyles and economic factors such as the rise in per capita income, particularly in developing regions, have encouraged the consumers to spend more on personal grooming.
Asia-Pacific is projected to be the fastest-growing plant extracts market, due to the large availability of raw materials and required environmental conditions for the growth of plants used for extraction
The plant extracts market in this region is driven majorly by the growing demand for plant-derived products, owing to factors such as rising awareness about better dietary choices, growing demand for herbal cosmetic products, increasing awareness about the ill-effects of synthetic products, and rise in number of chronic diseases and stress levels due to busy lifestyles. These factors have resulted in a large number of manufacturers investing in the production of end products, which contribute to the nutritive health of consumers. China and India are leaders in producing plant extracts for various phytomedicine applications.
- Rise in Awareness Regarding the Side-Effects of Synthetic Flavors
- Growth in R&D Activities
- Increase in Popularity of Convenience Foods is Boosting the Demand for Plant Extracts
- Health Benefits Offered by Phytomedicines & Herbal Extracts
- Inadequate Supply of Raw Materials & Price Fluctuation
- New Revenue-Generating Pockets Emerging Through Natural Sweeteners Category
- Identification of New Herbs & Spices in Accordance With Changing Consumer Preferences & Tastes
- Lack of Awareness About the Advantages Offered by Plant Extracts in Developing Countries
- Availability of Substitutes & Adulterated Products
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Plant Extracts Market, By Type
7 Plant Extracts Market, By Application
8 Plant Extracts Market, By Source
9 Plant Extracts Market, By Region
10 Competitive Landscape
11 Company Profiles
- Arjuna Natural Extracts Ltd.
- International Flavors & Fragrances Inc. (IFF)
- Kangcare Bioindustry Co. Ltd.
- Martin Bauer Group
- Native Extracts Pty. Ltd.
- PT. Haldin Pacific Semesta
- PT. Indesso Aroma
- Sensient Technologies
- Shaanxi Jiahe Phytochem Co. Ltd. (Jiaherb Inc.)
- Symrise AG
- Synthite Industries Private Ltd.
- Tokiwa Phytochemical Co. Ltd.
- Vidya Herbs Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/vkunf4