Global Plant Extract Market
Global Plant Extracts Market Size By Type, By Application, By Geographic Scope and Forecast
According to Verified Market Research, The Global 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.
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.
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.
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
Verified Market Research has been providing Research Reports, with up to date information, and in-depth analysis, for several years now, to individuals and companies alike that are looking for accurate Research Data. It has large database which includes the latest content from renowned authors and publications worldwide. It also provides customized Data and Reports according to the need of the client.