Global Plant Extracts Market is estimated to account for US$ 71.33 Bn by end of 2027, Says Coherent Market Insights (CMI)

Coherent Market Insights
·5 min read

SEATTLE, April 15, 2021 (GLOBE NEWSWIRE) -- A plant extract is a substance with desirable properties that is removed from the tissue of a plant, usually by treating it with a solvent, to be used for a particular purpose. Plant extracts contain many chemical compositions, quinones, carotenoids, phlegmatics, gums, hydrocarbon resins, starches, and resin alcohols. Moreover, plant extracts are treated with solvents for various activities to act as skin medicines, skin protection, wetting, anti-infective, sterilizers, anti-inflammatory, and anti-irritants.

The global plant extracts market is estimated to account for 71.33 Bn, in terms of value by the end of 2027, witnessing a CAGR of 6.15%.

Market Drivers:

1. Increasing utilization of plant extracts in various end-use industries, such as cosmetic and personal care, pharmaceuticals, and food and beverages, is expected to propel the global plant extract market growth over the forecast period.

In the food and beverages industry, plant extracts are widely used as flavorants, colorants, and to enrich the overall nutritional content. Moreover, in the cosmetic industry, plant extracts are used in skin care products, hair care products, and perfumes. In January 2019, Pierre Fabre launched Green Native Expression, a new patented extraction technology, natural and eco-friendly. Green Native Expression extracts pure sap from plants to incorporate it into cosmetics or nutraceutical products (food supplements) in the form of active ingredients.

2. Increasing customer inclination towards intake of herbal medicines is also expected to drive the global plant extracts market growth.

Herbal medicines are usually considered to be safe and effective. Thus, more people prefer herbal medicines to try to maintain or improve their health. They are sold as capsules, tablets, powders, extracts, teas, and fresh or dried plants. An herb is a plant or plant part used for its scent, flavour, or therapeutic properties.

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Market Opportunities:

1. Increasing demand for natural sweeteners is expected to offer lucrative growth opportunities for players in the global plant extracts market.

For instance, in November 2020, SweeGen added Bestevia Reb I, a high purity, clean label stevia, to its natural sweetener portfolio. The new addition works well in a wide variety of applications, such as beverages, dairy, confectionery, nutrition bars, and savory products. This new glycoside is produced from the stevia leaf with a bioconversion technology developed by Conagen.

2. Increasing demand for new herbs and spices due to the emergence of COVID-19 is also expected to offer significant growth opportunities for players in the market.

For instance, in July 2020, owing to the increasing demand for herbal and ayurvedic products due to COVID-19 pandemic, Naturevibe Botanicals launched a range of ayurvedic herbs in India.

Market Trends:

1. Major players in the market are adopting various inorganic strategies, such as partnership and collaboration, to strengthen their product portfolio. For instance, in February 2021, Nor-Feed, French botanicals producer, established a distribution partnership with Natural Biologics, animal health company, aimed at improved access to its plant extracts to existing and new US customers.

2. Growing popularity of plant extracts is another major trend in the global plant extracts market. Plant extracts are gaining tremendous popularity due to the changing consumer trend of using natural products. The leaves of many plants, such as clove leaves, thyme, basil leaves, Aloe Vera, rosemary, etc., are rich in antioxidants and also offer anti-microbial properties.

Competitive Landscape:

Major players active in the global plant extracts market are Döhler GmbH, Kalsec, Inc., V. Mane Fils SA, Naturex Inc., and Indena S.p.A.

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Key Developments:

In March 2021, PHCO2 received an analysis completed by ProVerde Laboratories that verifies that PHCO2's whole plant hemp extract ingredients are certified for two-year stability from the manufacturing date for cannabinoids and microbial contaminants.

In November 2020, Hindustan Unilever (HUL) launched a new brand in the naturals segment called Nature Protect. This is the fourth brand in HUL's naturals or herbal portfolio. The new range uses plant-based extracts such as neem for hygiene requirements.

Market segmentation:

By Product Type:

  • Spices

  • Essential Oils

  • Phytochemicals

  • Phytomedicines and Others

By Form:

  • Dry

  • Liquid

By End-use Industry:

  • Pharmaceuticals

  • Food and Beverages

  • Personal Care and Others

By Region:

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

Related Market Intelligence Reports:

Cosmetic Ingredients Market, By Product Type (Surfactants (Anionic, Cationic, Amphoteric, Non ionic), Emollients, Polymers(Conditioning Polymer, Styling Polymer), Oleochemicals (Fatty Acids, Glycerin, Others), Botanical Extract(Essential Oils, Plat Acid and enzymes), Rheology, Modifier, Preservatives (Anti-microbial, UV Absorber, Antioxidan), Emulsifier and Stabilizer, Others), By Application (Skin Care, Hair Care, Make Up, Fragrance, Oral Care, Others (Shaving and Toiletries)), By Functionality (Cleansing Agents & Foamers, Aroma, Moisturizing, Specialty, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

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