Plant Extracts Market by Type (Essential Oils & Natural Extracts, Flavors & Fragrances, Phytochemicals), Sources (Flowers & Leaves, Fruits & Vegetable, Seeds & Barks), Form, Application - Global Forecast 2024-2030

Plant Extracts Market by Type (Essential Oils & Natural Extracts, Flavors & Fragrances, Phytochemicals), Sources (Flowers & Leaves, Fruits & Vegetable, Seeds & Barks), Form, Application - Global Forecast 2024-2030

The Plant Extracts Market size was estimated at USD 40.24 billion in 2023 and expected to reach USD 43.48 billion in 2024, at a CAGR 8.27% to reach USD 70.19 billion by 2030.

Plant extracts are concentrated substances or compounds derived from the processing of different parts of plants, such as leaves, roots, fruits, or flowers, aimed at preserving the active compounds responsible for the plant's therapeutic or aromatic properties. These extracts are pivotal in various industries, including pharmaceuticals, cosmetics, food and beverages, and nutraceuticals, due to their natural origin, perceived health benefits, and versatility in application. The market for plant extracts is experiencing significant expansion driven by the rising consumer preference for natural and organic products, heightened awareness regarding the health benefits associated with plant-based ingredients, and continuous innovation in extraction technologies enhancing the efficiency and purity of extracts. Despite their popularity, plant extracts face challenges, including issues of sustainability, standardization, and potential adverse effects when improperly used or processed. Addressing these concerns requires stringent regulatory oversight, advancements in sustainable farming and extraction practices, and continuous research to ensure the safety and efficacy of extracts. The exploration of novel plant sources with unique health benefits, development of more targeted and efficient extraction techniques, and expansion into new application areas driven by evolving consumer demands for sustainable and health-promoting products are expected to grow the requirement for plant extracts in the coming years.

Regional Insights

In the Americas, the focus on health and wellness drives the significant use of plant extracts in dietary supplements and pharmaceuticals. This region benefits from robust R&D capabilities and a strong regulatory framework, fostering a competitive but innovative environment for plant extract companies. The APAC region, led by countries such as China and India, showcases a deep-rooted historical connection to plant extracts, primarily in traditional medicine, which has seamlessly transitioned into modern applications such as cosmetics and foods. The area is a major producer, benefiting from a vast array of plant biodiversity and cost-effective labor, which also makes it a global exporting hub. A mix of traditional family-run operations and burgeoning modern enterprises characterizes the extract industry in APAC. In contrast, the EMEA region exhibits a strong inclination towards scientific research and quality, with a regulatory landscape that emphasizes safety and efficacy, particularly in the European Union. The use of plant extracts in EMEA is diverse, spanning pharmaceuticals, nutraceuticals, and an expanding natural cosmetics sector. Production is more fragmented than in APAC, with a significant portion of raw materials sourced internationally. However, companies in EMEA often lead in certification and sustainability efforts, catering to a consumer base that values ethical and environmentally friendly products.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Plant Extracts Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Higher demand for dietary supplements and functional foods
Increased demand for natural ingredients for personal care products

Market Restraints

Complex production of plant extracts

Market Opportunities

Advancements in plant extract sourcing and processing
Emerging development of herbal and natural medicines

Market Challenges

Concerns associated with the quality of plant extracts

Market Segmentation Analysis

Type: Rising preference for essential oils and natural extracts with popularity of vegan products
Application: Exponential utility of plant extracts in food & beverage industry

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Plant Extracts Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Plant Extracts Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Innovative, Plant-extract Blend Boosts Flavour and Preserves Freshness in Dry Baked Goods

Kemin Industries unveiled OLESSENCE B Liquid, notably featuring olive extract, which is designed to enrich flavor while ensuring the freshness of dry bakery goods is maintained. Now available to food producers across the EMEA (Europe, Middle East, and Africa) region, this novel solution represents the latest advancement in Kemin's portfolio of natural offerings tailored for the bakery sector. The combination of select natural flavors in OLESSENCE B Liquid provides a harmonious taste experience and plays a crucial role in extending the shelf life of bakery items.

Nine New Products Announced at dōTERRA Global Convention

dōTERRA unveiled an exciting lineup of new essential oils and blends. In addition to these, the company introduced innovative products designed to enhance sleep quality and gut health. dōTERRA is committed to maintaining the highest standards of quality and sustainability in sourcing their essential oils. This commitment ensures the anticipation and excitement at their annual convention reaches unparalleled levels, especially when revealing these carefully crafted additions that promise to elevate overall well-being.

VedaOils Launches Functional Essential Oil Line for 2023

VedaOils expanded its product line with an impressive addition of over 40 new fragrance oils, featuring captivating aromas such as Orange, Marshmallow, Ylang Ylang, and Strawberry Shortcake. These fragrance oils are designed for versatile use, including the enhancement of scented products, aromatherapy, and even as therapeutic massage oils to help relieve nausea and headaches. Complementing this expansion, the brand has also unveiled a distinctive collection of more than 15 Essential Oil Blends, carefully formulated from natural fragrances. This range includes the evocative Christmas Tree Blend, the relaxing Sleep Oil Blend, the festive Pumpkin Pie Essential Oil Blend, the calming Unwind Essential Oil Blend, and the autumnal Autumn Wreath Oil Blend. Each blend and fragrance oil is crafted with the aim of enriching personal care routines and supporting well-being through the power of scent.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Plant Extracts Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Plant Extracts Market, highlighting leading vendors and their innovative profiles. These include Archer-Daniels-Midland Company, Bio Answer Holdings Inc., Blue Sky Botanics Ltd., Botanic Healthcare Group, Chr. Hansen A/S, Dohler GmbH, Euromed S.A., FLAVEX Naturextrakte GmbH, Frutarom Industries Ltd., Herbal Creations, Indena Spa, International Flavors & Fragrances Inc., Kalsec Inc., Kemin Industries Inc., Kuber Impex Ltd, Martin Bauer GmbH & Co. KG, Natac, S.L.U, Native Extracts Pty Ltd., Organic Herb Inc., S.A. Herbal Bioactives LLP, Sensient Technologies Corporation, Symrise AG, Synthite Industries Ltd., Tokiwa Phytochemical Co., Ltd., and Vidya Herbs Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Plant Extracts Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Essential Oils & Natural Extracts
Flavors & Fragrances
Phytochemicals
Phytomedicines & Herbal Extracts
Spices
Sources
Flowers & Leaves
Fruits & Vegetable
Seeds & Barks
Form
Dry
Liquid
Application
Cosmetics
Dietary Supplements
Food & Beverage
Pharmaceutical
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year