Plant Extracts Market US$ 47,421.44 million and recording a CAGR of 7.3% during the forecast period, 2028

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Plant Extracts Market US$ 47,421.44 million and recording a CAGR of 7.3% during the forecast period, 2028

The scope of our most recent study, "Plant Extracts Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Form, Source, and Application,"

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The scope of our most recent study, “Plant Extracts Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Form, Source, and Application,” includes a description of the driving forces behind the market’s expansion, revenue projections, the identification of key market players and an examination of their most important initiatives, as well as market share analysis. The plant extracts market is expected to grow from US$ 29,238.91 million in 2021 to US$ 47,421.44 million by 2028; it is expected to grow at a CAGR of 7.3% from 2022 to 2028.

To increase their customer base and adapt to changing consumer trends, manufacturers from a variety of application industries, such as food & beverage, personal care, and pharmaceutical, are investing heavily in product innovation. They are introducing herbal and clean-labeled items that don’t contain artificial additives and satisfy a range of consumer needs. For instance, in April 2019, DSM, Vidya Herbs, a market leader in the production of natural carotenoids, organic and conventional herbal extracts, introduced a sunflower extract containing 40% chlorogenic acids. In June 2022, Sweet Victory Ltd. and Givaudan will work together to develop a tasty chewing gum for kids that has botanical infusions. The chewing gum’s purpose is to reduce cravings for sweet foods. Manufacturer demand for plant extract increases as a result of such products being introduced with plant extracts as a key raw material.

Plant extracts are made by using a practical extraction technique to extract important components and phytochemicals from a specific plant part, such as the root, stem, fruit, leaves, or seeds. The plant’s components are solubilized in a solvent during the extraction procedure. To isolate plant extract, the solvent from the solution that was obtained is removed. These extracts contain bioactive substances with useful qualities and positive health effects. The plant extract market is anticipated to expand as a consequence of the widespread use of plant extracts in the food, beverage, nutraceutical, flavours, fragrances, and personal care industries. Additionally, it is projected that the market for plant extracts will be driven by increased consumer knowledge and a shift in consumer preferences toward natural components.

The market for herbal goods has increased along with the awareness of environmental sustainability during the past several years. Natural ingredients are frequently substituted for chemical ones by companies in response to the trend that consumers are increasingly favouring herbal and natural products as healthier alternatives to synthetic ones. A growing number of people are turning to herbal and natural goods because they believe they provide health benefits. Due to its numerous related qualities, including antioxidant, anti-inflammatory, antibacterial, and antimicrobial properties, plant extracts are predominantly used to cosmetic compositions. Herbal cosmetics and personal care items are becoming more and more popular. Due to regular usage in daily life and the avoidance of the side effects that are frequently associated with synthetic products, herbal cosmetics products were said to have efficacy and intrinsic acceptance.

Additionally, customers prefer food and drink products without artificial flavours, colours, or other food additives. Additionally, customers are emphasising holistic and aware consumption and favour goods with ingredients that come from ethical sources. The demand for natural ingredients in the food and beverage industry is being driven by growing consumer awareness of the harmful health impacts of eating synthetic substances. The food and beverage sector is increasingly using plant extracts as an antioxidant, antibacterial agent, and preservative. Customers are aware of the drawbacks of ingesting foods and drinks containing artificial substances. Numerous health organisations and food safety associations forbid the use of certain artificial flavourings in food and beverages.

A few players operating in the meat extract market are Sensient Technologies Corporation; Givaudan S.A.; Symrise; Dohler; Indesso; Synergy Flavors; International Flavors & Fragrances, Inc.; Kerry Group Plc; Ingredion, Inc.; and Kemin Industries, Inc.; among few others.

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