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.
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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 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.
The Global Plant Extracts Market is Segmented as:
By Plant Extract Type
- Oleoresins
- Essential Oils
- Carotenoids
- Flavonoids
- Others
By Form
- Dry/Powder
- Liquid
By Application
- Food and Beverage Industry
- Pharmaceutical Industry
- Cosmetic & Personal Care Industry
- Dietary Supplements Industry
- Others
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