About Medicinal Plant Extract
Medical plant extracts are extensively used in the healthcare sector. Growing health benefits coupled with rise in demand for personal care products has strengthened the growth of the global medicinal plant extract market. Based on these applications, the global plants extract market is forecasted to witness exponential growth over a period of time. Moreover, some of the medicinal plants are used aromatic treatments such as massage and sauna.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Medicinal Plant Extract market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Medicinal Plant Extract Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States and India Players will contribute the maximum growth to Global Medicinal Plant Extract market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Givaudan (Switzerland), Organic Herb Inc (China), Plant Extracts International Inc (United States), Arjuna Natural Extracts Ltd (India), Indfrag (India), Phytovation (United Kingdom), KANCOR (India), Sigma-Aldrich Co. LLC (United States) and Vidya Herbs (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Medicinal Plant Extract market by Type (Phytomedicines & Herbal Extracts, Flavors & Fragrances, Essential Oils and Spices), Application (Pharmaceuticals & Dietary Supplements, Cosmetics and Food & Beverages) and Region.
On the basis of geography, the market of Medicinal Plant Extract has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Source , the sub-segment i.e. Fruits, Flowers, and Bulbs will boost the Medicinal Plant Extract market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Medicinal Plant Extract market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Surging Demand for Natural Skincare Products Containing Medicinal Plant Extracts
Market Growth Drivers:
Rising Awareness Regarding the Side-Effects of Synthetic Flavor and Increasing Demand for Herbal Medicines and Ayurveda & Homeopathic Products
Challenges:
Lack of Awareness About the Advantages Offered By Medicinal Plant Extracts in Developing Countries and Availability of Substitutes
Restraints:
Lack of Supply of Raw Materials and Price Fluctuation
Opportunities:
Growth of the Pharmaceutical Industry and Healthy Eating Trend and Growing Personal Care and Nutraceutical Industry Worldwide
Market Leaders and their expansionary development strategies
In Nov 2019, Italian botanicals firm Indena is to sell its nutricosmetics business to Swiss flavours and fragrances specialist Givaudan in a deal that also involves a manufacturing and innovation partnership between the two firms.
In April 2019, Arjuna Natural Ltd. has been granted a new patent in Europe for its applied technology of improving the bioavailability of curcumin in its BCM-95®(Curcugreen®) formulation and a leading product in its broad portfolio of natural ingredients.
Key Target Audience
Medicinal Plant Extracts Manufacturers, Retailers, Wholesalers, E-commerce Companies and Traders, Importers and Exporters
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.