Plant Extracts Market Size By Type, By Application, By Geographic Scope and Forecast
Plant Extracts Market was valued at USD 21.35 Billion in 2018 and is projected to reach USD 53.82 Billion by 2026, growing at a CAGR of 12.59% from 2019 to 2026.
The latest survey on Global Plant Extracts Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunity available and trend in Plant Extracts Market. The report aims to present the analysis of Global Plant Extracts Market By Type, By Application, By Geography – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunitiesWhat are Plant Extracts?
Plant extraction a process used in order to extract desirable components or active ingredients that are present in any part of the plant. The extractions are solubilized and contained within a solvent, the resulting solution being the desired extract, the solvent will eventually be eliminated (according to its intended end-use application) to isolate the plant extract. Plant extracts have an expanding scope of uses in various sectors such as in the cosmetic industry, pharmaceutical industry for therapeutic properties and the food and beverage industry due to their beneficial components. Natural extracts from plants provide unlimited opportunities due to their unmatched availability for chemical diversity. Plant extracts are used for various functionalities such as skin medicines, anti-irritants, wetting, anti-inflammatory, sterilizers, anti-infective, and skin protection among others. These extracts have applications in different sectors such as pharmaceuticals, food & beverages, cosmetics, and others.
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Global Plant Extracts Market Outlook
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Through the use of plant extracts in medicine, there were found to be potential for several health benefits which include advantageous biological activity such as anticancer, wound healing activity, antidiarrheal, antimicrobial, analgesic and antioxidant properties. Consumers are now viewing natural products as healthier alternatives to synthetic products. These are some of the key factors estimated to fuel the demand for the Plant Extracts in the forecasted period.
However, Adulteration, through several means is leading to the eventual loss of reputation for the industry itself. Moreover, the availability of synthetic products is expected to be one of the major restraints in the growth of the Plant Extracts market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Plant Extracts Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. This can be of great use in gaining knowledge about cutting-edge technologies in the market.Global Plant Extracts Market, Segment Analysis
The Global Plant Extracts Market is segmented on the basis of Type, Application, and Geography.
The market is segmented on the basis of Type into Spices, Essential Oils and Natural Extracts, Flavors and Fragrance, Phytomedicines and Herbal Extracts, Phytochemicals, Others. Global Plant Extracts Market for Phytomedicines and Herbal Extracts segment is anticipated to be the largest as well as fastest-growing during the forecast period owing to the factors, such as its health benefits and rising awareness about side effects from using chemical-based products. The product is experiencing high demand from functional food and beverages which require ingredients for preventing chronic diseases.
The market is segmented on the basis of Application into Pharmaceuticals, Food and Beverages, and Others. The Pharmaceuticals segment is expected to have a significant market share during the forecast period due to the increasing preferences towards the use of natural ingredients in the pharmaceutical industry as there is a rise in consumer demand concerning the use of plant extracts in medicines.Global Plant Extracts Market, Geographic Analysis
The Global Plant Extracts market is studied on the basis of key geographies North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific dominated the Global Plant Extracts Market in 2018, with China market accounting for the majority of the market in this region in 2018, which is expected to continue over the forecast period. Asia Pacific also is anticipated to grow at the highest CAGR during the forecast period.
In the Asia Pacific, the market for Plant Extracts is driven by the growing demand and production of natural and organic products in Asia Pacific countries such as China, India, and Japan.
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Global Plant Extracts Market Competitive Landscape
The Global Plant Extracts market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include Naturex, Berkem, Kuber Impex Ltd., Network Nutrition, Organic Herb Inc., Qualiphar-Gifrer among others. Naturex is one of the top five players in the Plant Extracts market.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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