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Plant Extracts Market

Plant extracts market report categorizes the global market by product type , by form , by end-use industry and by geography. Report includes, global industry insights till 2025
Plant Extracts Market - Global Trends and Forecast
to 2025
A plant extract is a substance that contains various chemical compositions such as
resin alcohols, starches, hydrocarbon resins, gums, phlegmatics, carotenoids, and
quinones. These extracts are tissues treated with solvents for various functionalities
to serve as skin medicines, anti-irritants, anti-inflammatory, sterilizers, anti-infective,
wetting, and skin protection among others.
Growing demand for plant extracts in the food and beverages, pharmaceuticals, and
cosmetics industries is boosting growth of the plant extract market. For instance,
plant extracts are widely used in the food and beverages industry as colorants,
flavorants, and to enhance the overall nutritional content. Increasing demand for
functional foods and beverages such as protein bars, dietary supplements, and
flavored beverages is also expected to fuel growth of the plant extracts market.
According to American Botanical Council, the total retail sales of herbal supplements
in the U.S. was US$ 6.9 billion in 2015, which increased to US$ 7.4 billion in 2016.
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Plant extracts are used in the cosmetic industry for application in perfumes, and skin
care and hair care products. These extracts are used in skin care products for curing
eczema, acne, dryness, free-radical scavenging, anti-inflammatory, and anti-aging.
While, in hair care products, they are used as growth stimulants, colorants, and as
anti-dandruff agents. Rising trend of using cosmetics with natural extracts is further
boosting demand for natural. According to the U.S. Government Export Association,
the consumer spending on natural cosmetics in 2016 in Germany — the largest
market in Europe — was US$ 13.5 billion, which increased by 9.2% in 2016.
Europe holds the dominant market for in the global plant extracts market, followed by
Asia Pacific. The market in Europe was valued at US$ 11,549.5 Mn in 2016, which is
projected to increase to US$ 19,380.2 Mn by 2025, witnessing a CAGR of 6.19%
during the forecast period. Increasing inclination of customers towards consumption
of herbal medicines in Europe is driving growth of the plant extracts market in the
region. According to the Centre for the Promotion of Imports, around 700
plant-based medicines are available in Germany, which are manufactured by
companies such as Heinrich Klenk and Schaper & Brümmer among others and are
prescribed by 70% of the physicians in the country. Other factors that are expected
to drive growth of the market include the growing cosmetics and personal care
industry. Demand for plant-based ingredients in the cosmetics and growing adoption
of natural cosmetics is fuelling the growth of plant extracts market. According to
Cosmetic Europe, cosmetics and personal care industry in Europe was valued at
US$ 94.13 billion in 2015, with Germany (US$ 15.89 billion) positioned as the largest
region in the market, followed by the U.K. (US$ 14.06 billion), France (US$ 13.94
billion), and Italy (US$ 12.10 billion), respectively.
The global plant extracts market was valued at US$ 37,771.8 Mn in 2016 and is
expected to register a CAGR of 6.15% over the forecast period. The global plant
extracts market is projected to reach to US$ 63,304.8 Mn by 2025.
Asia Pacific is projected to be the second-largest market in the global plant extracts
market throughout the forecast period. This is attributed to increasing demand for
natural ingredients in the cosmetics, pharmaceutical, and food & beverages
industries. According to Indian Brand Equity Foundation (IBEF), pharmaceutical
industry is the third-largest industry in India in terms of volume and accounted for
20% of the global pharmaceutical industry in 2017. The pharmaceutical sector is
expected to increase to US$ 55 billion by 2020. Also, increasing government
involvement in various initiatives to promote pharmaceutical sector in India. For
instance, the Department of Biotechnology received US$ 333.3 million in the Union
Budget 2017-2018, to implement the department’s national biotech strategy.
Major Players in Global Plant Extracts Market:
Some of the key players operating in the global plant extracts market are Indena
S.p.A., Naturex Inc., V. Mane Fils SA, Kalsec, Inc., and Döhler GmbH.
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