Four Major Trends in the Global Market for Plant Extracts in 2021
In such a dark moment, the world is experiencing a severe economic recession and a decline in global trade volume. Countries in the world must first ensure food safety and food reserve security. Under such scenario, what impact will it have on the nutrition and health industry? What is the future development trend of the industry? And what are the uncertain fluctuations?
In 2021, the Coronavirus Pandemic continues to affect the work and lives of people all over the world. In such a dark moment, the world is experiencing a severe economic recession and a decline in global trade volume. Countries in the world must first ensure food safety and food reserve security. Under such a scenario, what impact will it have on the nutrition and health industry? What is the future development trend of the industry? And what are the uncertain fluctuations?
Many industries have fallen into a long-term downturn, but for the food supplement industry, the impact of the epidemic has shown a contrarian growth. Take the United States as an example: in the early stage of the epidemic, on mainstream media websites such as Twitter and Reddit, the number of visits to products that improve immunity increased by 4.4 times; the number of visits to anti-inflammatory products increased by 2.8 times; the number of visits to echinacea increased by 9.4 times; vitamins C and vitamins D visits increased more than three times. Under this traffic volume, the sales volume of products such as dimension minerals, amino acids, digestive enzymes, and food supplements in the United States increased substantially in March.
In 2020, the global plant extract market will reach 23.7 billion U.S. dollars and is expected to reach 59.4 billion U.S. dollars in 2025, with a compound growth rate of 16.5% from 2019 to 2025. In the past ten years, the average growth rate of global plant extract development has been about 5%. With people’s concerns about the side effects of synthetic additives, the awareness of the health benefits of plant drugs and herbal extracts has continued to increase, and the market research and development activities of plant extracts have increased. With the growth and popularity of convenience foods, the demand for plant extracts in the food and beverage industry is also growing. Therefore, the plant extract market will grow rapidly in the future.
The global dietary supplement market size was 148.7 billion U.S. dollars in 2019 and is expected to reach 228.19 billion U.S. dollars by 2027, with a compound annual growth rate of 5.5%. The US dietary supplement market is expected to show an upward trend. By 2024, the US dietary supplement market is expected to reach 56.7 billion U.S. dollars.
The US dietary supplement market data is generally increased by several mainstream products, such as CBD. Although it is currently restricted by regulations, it is expected to increase in the next few years. The second product is elderberry to improve immunity. These two products will be mainstream products that will drive the growth of dietary supplements in the United States in the future.
The global immune food supplement market is expected to be 15.1 billion U.S. dollars in 2020 and is expected to reach 22.5 billion U.S. dollars by 2027; the compound annual growth rate in 2020-2027 is 5.8%.
Dimensional minerals, probiotics, prebiotics, etc. are already well known to consumers, especially vitamins. It is estimated that these products will reach 8.1 billion US dollars in 2027, with a compound annual growth rate of 6.1%.
In addition to the raw materials we are familiar with, in the special situation of the epidemic, there are also some raw materials that can enhance immunity, and they have gradually become prominent. For example: elderberry, β-glucan, fungus extract, berberine, sulforaphane. In particular, berberine has grown rapidly in recent years, because some companies that continue to cultivate deeply are constantly tapping its application potential. Now berberine has been used in anti-aging research like NMN and has received more attention.
Sulforaphane is also a raw material that is in high demand. Ten years ago, sulforaphane was mainly used in anti-cancer research, and now it is also used in research to enhance immunity. In the future, there will be more room for growth of these new-sprouting functional raw materials.
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