Kings Research published a new report on Plant Extracts Market Size, Share, Growth, Industry Trends & Forecast 2031, covering various industry elements and growth trends helpful for predicting the industry future. Plant Extracts Market was expected to be USD 30.87 billion in 2023, projected to rise at a compound annual growth rate (CAGR) of 11.34% from 2024 to 2031, and estimated to be USD 33.92 billion in 2024.
The global plant extracts market is experiencing robust growth, driven by increasing consumer demand for natural and organic products across various industries, including food and beverage, pharmaceuticals, cosmetics, and personal care. According to recent data from Kings Research, the market is set to expand significantly, reflecting shifting consumer preferences towards healthier and environmentally friendly alternatives.
Insights Related the Report @ https://www.kingsresearch.com/plant-extracts-market-733
List of Key Companies in Plant Extracts Market
- ADM
- Carbery
- Esperis S.p.a.
- Givaudan
- International Flavors & Fragrances Inc.
- Kalsec Inc.
- Kerry Group Plc.
- Symrise
- Synthite Industries Ltd.
- NATIVE EXTRACTS Pty Ltd
Key Developments:
- Symrise launched Flowerconcentrole in April 2024, a line of high-quality floral extracts enhanced with mood-boosting properties. This product range is designed to provide holistic skincare solutions.
- Universal Corporation announced a USD 30 million expansion plan for its subsidiary, Shank's Extracts, LLC, in May 2023. This expansion aims to enhance manufacturing capabilities and meet the growing demand for botanical extracts.
Industry Trends:
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Sustainable Sourcing: There is a growing trend towards the sustainable sourcing of raw materials. Companies are increasingly using organic and fair-trade botanicals to meet consumer demand for eco-friendly products. This trend is also driven by environmental regulations and consumer preferences for transparency in sourcing practices
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Functional and Value-Added Extracts: Manufacturers are focusing on developing extracts with enhanced functionalities, such as improved bioavailability and targeted therapeutic effects. This innovation is fueled by consumer demand for functional ingredients that provide specific health benefits, including immune support and stress relief
Key Drivers of Market Expansion:
Health and Wellness Trends: The rising trend of health and wellness is a significant driver for the plant extracts market. Consumers are increasingly seeking products that offer health benefits and are free from synthetic additives. Plant extracts, known for their natural therapeutic properties, are being extensively used in dietary supplements, functional foods, and herbal medicines.
Cosmetic and Personal Care Industry: The cosmetic industry is a major consumer of plant extracts, using them in skincare, haircare, and personal care products. Ingredients like aloe vera, chamomile, and lavender extracts are highly valued for their soothing and healing properties. The demand for organic and natural cosmetics is accelerating the use of plant extracts in this sector.
Food and Beverage Industry: The food and beverage sector is increasingly incorporating plant extracts to enhance flavor, color, and nutritional value. Natural extracts such as vanilla, stevia, and turmeric are popular choices. The clean label trend, where consumers prefer products with simple and recognizable ingredients, further boosts the demand for plant extracts.
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