Plant Extracts Market Scope
Plant extract is a substance with desirable properties that is removed from the tissue of different parts of the plant, usually by treating it with a solvent to be used for a particular purpose. Plant extraction is process of extracting certain components present in the plants. These extract may be used in various sectors of activities such as food and functional properties for foodstuffs, processing aids, additives-chemical replacers, pharmaceutical use, cosmetic use and others. On 10th July 2018, Sensient Technologies has announced that it has acquired Vancouver based Mazza Innovation Limited, a global leader in botanical extraction technology, for an undisclosed amount. This acquisition is a major step in the evolution of Sensient’s ‘seed to shelf’ strategy to innovate across the value chain for natural and organic ingredients.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Givaudan (Switzerland), Sensient Technologies (United States), Symrise AG (Germany), Kangcare Bioindustry Co., Ltd. (China), PT. Indesso Aroma (Indonesia), PT. Haldin Pacific Semesta (Indonesia), Vidya Herbs Private Limited (India), Native Extracts Pty. Ltd. (Australia), Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China) and Synthite Industries Private Ltd. (India) |
CAGR | % |
Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Plant Extracts market throughout the predicted period.
Givaudan (Switzerland), Sensient Technologies (United States), Symrise AG (Germany), Kangcare Bioindustry Co., Ltd. (China), PT. Indesso Aroma (Indonesia), PT. Haldin Pacific Semesta (Indonesia), Vidya Herbs Private Limited (India), Native Extracts Pty. Ltd. (Australia), Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China) and Synthite Industries Private Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Döhler (Germany), International Flavors & Fragrances, Inc. (United States), Martin Bauer GmbH & Co. KG (Germany) and Arjuna Natural Extracts Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Plant Extracts market by Type , by Application (Pharmaceutical and Dietary Supplements, Food and Beverages, Cosmetics and Others (Personal Care Products and Toiletries)) and Region with country level break-up.
On the basis of geography, the market of Plant Extracts 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).
region held largest market share in the year 2023.
On 2nd February 2019, Givaudan, the world’s leading flavour and fragrance company, has inaugurated a new Flavours manufacturing facility in Pune, India. This plant is the Company's largest investment in India and further proof of its commitment to leverage growth potential in Asia Pacific.
Influencing Trend:
Changing Buying Behavior of the Consumers
Market Growth Drivers:
Increased Demand for Plant Extract Based Products, Growing Awareness about the Side Effects of Synthetic Products and Health Benefits of the Plant Extract Based Products
Challenges:
Availability of Substitutes in Cheaper Rates
Restraints:
Inadequate Supply of Raw Materials
Opportunities:
Increasing Applications of Plant Extracts in Various Industries, Increased Use of Plant Extracts in Cosmetic Products and Growth in the E-Commerce Industry
Key Target Audience
Plant Extract-based Product Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user