Press release
Plant Extracts Market Report 2022 To 2028 By Top Key Players, Types & Applications
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.Plant extract is obtained from the plant tissue by treating it with a solvent, to be used for a particular purpose. Most-commonly used solvents are water, ethanol, ethyl acetate, CO2, methanol, acetone, acetic acid, and hexane. Extracts are used as antioxidants and preservatives in various food products. Also, they are used as processing aids and additives in the pharmaceutical industry for therapeutic properties as preventive or curative. Plant extracts are used in cosmetics as functional properties for beauty and well-being.
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Analysis of the Top Market Players:
1. Sensient Technologies Corporation
2. Givaudan S.A.
3. Symrise
4. Dohler
5. Indesso
6. Synergy Flavors
7. International Flavors & Fragrances, Inc.
8. Kerry Group Plc
9. Ingredion Inc.
10. Kemin Industries, Inc.
In this report, the market has been segmented on the basis of:
Form (Powder, Liquid, and Paste)
Source (Fruits & Vegetables, Herbs & Spices, Flowers, and Others)
Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others)
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Based on source, the plant extracts market is segmented into fruits & vegetables, herbs & spices, flowers, and others. The herbs & spices segment is expected to hold the largest market share during the forecast period. The plant extracts from herbs & spices are gaining popularity across the world due to rising health consciousness among consumers. The trending taste and flavored drinks coupled with the healthfulness and sustainability drive the market growth for the herbs & spices segment. The beverage manufacturers are widely using spices extracts, including cloves and cinnamon, as they have therapeutic properties, such as antioxidative, anti-inflammatory, antidiabetic, antihypertensive, and antimicrobial activities. Hence, the demand for spices extracts is booming in the healthier beverage industry, which would fuel the growth of the plant extracts market for the herbs & spices segment during the forecast period.
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