According to the analysis of Reports and Data The Plant Extracts Market is estimated to be valued at USD 26.32 Billion in 2020 and is projected to reach USD 82.25 Billion by 2028, at a CAGR of 17.4% from 2020 to 2028. Rising demand for plant extracts from end-use applications such as food & beverages, cosmetics & pharmaceuticals to present flavor, color, and food is driving the plant extract demand. A shift in consumer choice towards the consumption of herbal medicines is again fueling the plant extract market. Side-effects linked with the synthetically prepared drugs leading to several disorders have drastically improved the consumer preference towards the safe & herbal substitute. This, in turn, has propelled the market growth. The rising demand for extracted or herbal supplements are impacting the plant extracts market growth positively.
Rising
awareness about the side-effects of synthetic flavors is driving the plant
extracts market growth. The growing popularity of convenience foods may propel
the expansion of the market. Increasing health benefits offered by
phytomedicines and herbal extracts will boost the market within the forecast
period. Extremely water-soluble mixtures, together with prolonged shelf life,
are the factors widening the appliance of the merchandise in cosmetics,
research, and other industries. Natural essential oils are the volatile,
odoriferous oils collected from plants. These are found in special cells,
glands or ducts located in different parts of a plant such as the leaves,
barks, roots, flowers and fruits and sometimes in just one or two parts. These
plant-based oils are usually present in small amounts and contain only a small
fraction of the entire plant material.
To
provide extensive portfolio and easy sourcing of raw materials to meet quality
standards, Martin Bauer Group acquired BI Nutraceuticals in the year 2020; this
acquisition of BI Nutraceuticals, a leading full-service producer and supplier
of plant-based ingredients in the United States. The purchase creates an
expanded portfolio of botanical ingredients and a versatile manufacturing hub
servicing the U.S. Tea, Beverage, Food, and Dietary supplement industries. The
deal with BI Nutraceuticals will enhance the Martin Bauer Group’s local
abilities, including R&D, formulations, and production, in support of the
Group’s tactics to encourage accelerated growth in North America. Martin Bauer
Group’s portfolio is responsible for the sourcing of raw materials, with
quality measures and checks the place starting at the source and maintaining
throughout the acquisition and manufacturing processes.
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Competitive
Landscape:
The research
report offers details about leading companies in the global Plant Extracts
market along with global position, financial standing, license agreement,
products and services portfolio and revenue contribution of each market player.
Key players in the market are focusing on adopting various strategies such as
mergers and acquisition, business expansion plans, new product launches,
partnerships, collaborations, joint ventures to enhance their product base and
gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
· Givaudan
(Switzerland),
· Sensient
Technologies (US),
· Symrise
AG (Germany),
· Kangcare
Bioindustry Co., Ltd. (China),
· PT.
Indesso Aroma (Indonesia),
· PT.
Haldin Pacific Semesta (Indonesia),
· Vidya
Herbs Private Limited (India),
· Tokiwa
Phytochemical Co., Ltd.,
· Native
Extracts Pty. Ltd. (Australia),
· Shaanxi
Jiahe Phytochem Co., Ltd.
· Jiaherb,
Inc. (China),
· Synthite
Industries Private Ltd. (India),
· Döhler
(Germany),
· International
Flavors & Fragrances, Inc. (US),
· Martin
Bauer GmbH & Co. KG (Germany),
· Arjuna
Natural Extracts Ltd. (India).
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Market Segmentation:
Plant Extracts Market Segmentation based on Types:
- Spices
- Essential
oils
- Flavors &
fragrances
- Phytomedicines
& herbal extracts
Plant Extracts Market
Segmentation based on source
- Leaves
- Fruits,
flowers, and bulbs
- Rhizomes
& roots
- Barks &
stems
- Others
(seeds, pods, and berries)
Plant Extracts Market
Segmentation based on Application:
- Food &
beverages
- Cosmetics
- Others
(personal care products and toiletries)
Plant Extracts Market Segmentation based on Regions:
·
North
America (U.S., Canada, Mexico)
·
Europe
(Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
·
Asia
Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
·
Latin
America (Brazil, Rest of Latin America)
·
Middle
East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East &
Africa)
Key
Features of the global Plant Extracts Market:
·
The
report offers detailed estimations at the regional level with manufacturers,
consumption, sales and import/export dynamics.
·
The
report provides accurate details related of the manufacturers/vendors in the
market, company overview, pricing analysis, financial standing, product
portfolio, and gross profit of leading companies.
·
Company
profiling with prevalent expansion strategies, revenue generation, and recent
developments.
·
Optimum
strategic initiatives for new players in the market.
·
Manufacturing
processes, suppliers, cost, rates of production and consumption, transport mode
and cost structuring, and value chain analysis.
·
The
study also includes supply chain trends, including elaborate descriptions of
the latest technological development
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