Plant Extracts are chemical substances extracted from plants (generally herbal or natural plant) to incorporate them into other materials or applications in order to improve the process involved, or the quality of product, depending on the usage of the extract. They can be used in nutritional supplements, health food, cosmetics and other industries. They are core products in market of natural medicine and health products. Thus, Plant Extract Market is the market which deals with the Plant Extract process.
Since it is majorly aimed at curing diseases, herbal products are most used in the Plant Extract Market.
Driving factors of this Market:
- Increased awareness in people regarding side effects of the beauty products
- Growing number of people who use the beauty products
- Highly improving interest towards self-grooming among the public
Categorization of the Market
Based on type:
- Essential Oils and Natural Extracts,
- Flavors and Fragrances,
- Herbal Extracts etc.
Based on application:
- Food and Beverages etc.
Based on geography:
- North America,
- Asia-Pacific and
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Plant Products Market forms around 3%-4% of the Global Personal Care Market among which Germany itself accounts for around one-fourth of the Global Plant Personal Care Products.
In 2013, skin care products segment accounted for around 32% of the global market followed by hair care products forming nearly 27% of the total market.
The Global Plant Extracts Market of is estimated to grow from around $41.5bn to around $79.2bn at a CAGR of 11.4% during the forecast period. Phytochemicals are estimated to grow the fastest, with a CAGR of 11.7%.
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Key Company Players of the Industry:
- Organic Herb Inc
- Plant Extracts International Inc
- Network Nutrition
- FT Technologies
- Lehmann & Voss & Co.
- Ingredia Nutritional
- Alkaloids Corporation
- Herbal Extract Company
- Nantong Sihai Plant Extracts Co.
- Sigma-Aldrich Co.
- Phytovation Ltd
- Kuber Impex Ltd
- Prinova Group
- BerryPharma AG
- Nutri-Pea Limited
- Kangcare Bioindustry Co. Ltd and
Key Countries dealing in this Market:
- United States,
- Europe (including Germany, France),
- Japan and
Logical Estimates by IndustryArc:
In the next five years, Global Plant Extracts Market is estimated to witness steady growth because of:
- Standardization of the production and
- Quality development of the herbal products.
The consumption of plant extracts in the United States accounted for more than 60% of the world. 2010 Asian herbal extracts market is estimated at $ 1.5 billion, about 4 billion U.S. dollars, accounting for about 26.7%; Japan $ 320 million, accounting for 21%.
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