Plant Extracts Global Market Report 2022: Rapid Growth in Veganism Worldwide Fuels 8.5% Annual Growth

DUBLIN, Nov. 25, 2022 /PRNewswire/ -- The "Plant Extracts Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

The global plant extracts market is expected to grow from $22.67 billion in 2021 to $25.35 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The plant extract market is expected to grow to $35.18 billion in 2026 at a CAGR of 8.5%.

The main types of plant extracts are spices, essential oils and natural extracts, flavours and fragrance, phytomedicines and herbal extracts, phytochemicals and others. Phytochemicals refer to bioactive nutrient plant chemicals in fruits, vegetables, grains, and other plant foods that will provide desirable health benefits beyond basic nutrition to reduce the risk of major chronic diseases. The different sources include fruits, flowers, and bulbs, leaves, barks and stems, rhizomes and roots, and others. The various applications involved are pharmaceuticals, food and beverages, cosmetics, and others.

Asia Pacific was the largest region in the plant extracts market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rapid growth in the vegan trend is significantly contributing to the growth of the plant extract market. A vegan refers to a person who doesn't consume animal products, including meat, eggs, or dairy products. Vegan people consume plant-based products to fulfil their nutritional requirements. For instance, according to the Plant-Based Foods Association (PBFA), a US-based trade association, retail sales of plant-based foods in the United States increased by 6.2% in 2021. Therefore, the rapid growth in vegan trends is driving the growth of the plant extract market.

Increasing technological advancements have emerged as the key trend gaining popularity in the plant extract market. Companies operating in the plant extract sector are focused on developing new technological solutions to reinforce their position. For instance, in June 2021, Firmenich, a Switzerland-based fragrance and taste company, launched the Firgood ingredients using revolutionary and sustainable proprietary extraction technology. The Firgood technology is solvent-free and utilizes low energy. The water is used for extraction, which is warmed up by electromagnetic vibration, and the odorant components in it are used to yield the final pure extract.

Scope
Markets Covered:

1) By Type: Spices; Essential Oils and Natural Extracts; Flavors and Fragrance; Phytomedicines and Herbal Extracts; Phytochemicals; Other Types
2) By Source: Fruits, Flowers and Bulbs; Leaves; Rhizomes and Roots; Barks and Stems; Other Sources
3) By Application: Pharmaceuticals; Food and Beverages; Cosmetics; Other Applications

Key Topics Covered:

1. Executive Summary

2. Plant Extracts Market Characteristics

3. Plant Extracts Market Trends And Strategies

4. Impact Of COVID-19 On Plant Extracts

5. Plant Extracts Market Size And Growth

6. Plant Extracts Market Segmentation

7. Plant Extracts Market Regional And Country Analysis

8. Asia-Pacific Plant Extracts Market

9. China Plant Extracts Market

10. India Plant Extracts Market

11. Japan Plant Extracts Market

12. Australia Plant Extracts Market

13. Indonesia Plant Extracts Market

14. South Korea Plant Extracts Market

15. Western Europe Plant Extracts Market

16. UK Plant Extracts Market

17. Germany Plant Extracts Market

18. France Plant Extracts Market

19. Eastern Europe Plant Extracts Market

20. Russia Plant Extracts Market

21. North America Plant Extracts Market

22. USA Plant Extracts Market

23. South America Plant Extracts Market

24. Brazil Plant Extracts Market

25. Middle East Plant Extracts Market

26. Africa Plant Extracts Market

27. Plant Extracts Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Plant Extracts Market

29. Plant Extracts Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• Naturex
• Berkem
• Kuber Impex Ltd.
• Network Nutrition
• Organic Herb Inc.
• Qualiphar-Gifrer
• Givaudan
• Arjuna Natural Pvt. Ltd.
• Synthite Industries Private Ltd.
• Martin Bauer Group
• Tokiwa Phytochemical Co. Ltd.
• Native Extracts Pty Ltd.
• Symrise
• Sensient Technologies Corporation
• Indesso
• Vidya Herbs
• Plant Extracts International Inc.
• Indena
• Nutra Green Biotechnology Co. Ltd.
• Nantong Sihai Plant Extracts Co. Ltd.
• Schwabe
• Provital Group
• Chenguang Biotech

For more information about this report visit https://www.researchandmarkets.com/r/xow72f

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SOURCE Research and Markets