As the demand for natural ingredients and sustainable products continues to rise, the plant extracts industry plays a pivotal role in providing solutions for various sectors including cosmetics, food and beverages, pharmaceuticals, and more. Understanding the statistics and trends within the plant extracts industry is crucial for businesses and consumers alike to make informed decisions and stay ahead in this rapidly growing market. In this blog post, we will delve into the latest insights and statistics surrounding the plant extracts industry, exploring key market trends, growth projections, and emerging opportunities.
The Latest Plant Extracts Industry Statistics Explained
By 2026, the global plant extracts market is expected to reach USD 63.30 billion.
This statistic indicates that the global plant extracts market is projected to grow significantly over the next several years, with an estimated value of USD 63.30 billion by the year 2026. This growth is likely driven by increasing consumer awareness and demand for natural and organic products, as well as the rising popularity of plant-based dietary supplements, cosmetics, and pharmaceuticals. The plant extracts market includes a wide range of products derived from plants, such as herbal extracts, essential oils, and phytochemicals, which are utilized in a variety of industries. The anticipated growth in the market reflects the continued trend towards natural and sustainable products, as well as the expanding applications of plant extracts across different sectors.
Sheer growth of the extracts market is estimated to be at a CAGR of 16% from 2021 to 2026.
The statistic indicates that the extracts market is expected to experience robust and consistent growth over the next five years. The Compound Annual Growth Rate (CAGR) of 16% implies that the market size for extracts is projected to increase at an average annual rate of 16% from 2021 to 2026. This growth rate signifies a substantial expansion in market demand and consumption of extracts products during the forecast period. The sheer growth suggests a positive outlook for the extracts industry, possibly driven by factors such as increasing consumer awareness about health and wellness benefits, growing emphasis on natural ingredients, and expanding applications of extracts across various industries.
In 2020, Asia Pacific region accounted for the largest share of 41.1% in the global extracts market.
The statistic “In 2020, the Asia Pacific region accounted for the largest share of 41.1% in the global extracts market” indicates that during that year, Asia Pacific had the highest proportion of market share compared to other regions in the global extracts industry. This implies that a significant amount of extract products, such as food flavors, fragrances, or herbal extracts, were produced and consumed in Asia Pacific compared to other regions. The high market share in the Asia Pacific region suggests a strong demand for extracts in this area, potentially driven by factors such as population size, economic growth, cultural preferences, and increasing awareness of health and wellness trends. This statistic highlights the region’s importance as a key player in the global extracts market, influencing production, consumption, and trade dynamics within the industry.
In 2019, the herbal extracts segment held the largest share of nearly 41.5% in the product type segment.
The statistic reveals that in 2019, among the different types of products available in the market, herbal extracts accounted for the largest proportion of sales or market share, comprising nearly 41.5% of the total product type segment. This suggests that consumers showed a strong preference for herbal extracts over other products during that time period. The popularity of herbal extracts could be attributed to various factors such as increasing awareness about the potential health benefits of natural ingredients, growing interest in alternative medicine and holistic wellness approaches, and a perceived preference for products that are perceived as more natural and less synthetic. This statistic highlights the significance of herbal extracts in the market and may also indicate potential growth opportunities and trends in the herbal products industry.
The phytomedicines & herbal extracts market is predicted to reach USD 27.3 billion by 2027.
The statistic “The phytomedicines & herbal extracts market is predicted to reach USD 27.3 billion by 2027” indicates the anticipated growth and market value of the industry focused on natural and plant-based remedies. This prediction suggests a significant increase in consumer demand for phytomedicines and herbal extracts over the next few years, likely driven by a growing preference for natural and alternative healthcare options. The projected market value of USD 27.3 billion by 2027 reflects the potential economic impact and opportunities within this sector, highlighting the importance of these products in the global healthcare market.
In 2017, Europe dominated the global plant extracts market with the largest revenue share of 30.2%.
The statistic indicates that in 2017, Europe accounted for the highest proportion of revenue in the global plant extracts market, with a share of 30.2%. This suggests that Europe was the leading region in terms of generating revenue from the production and sale of plant extracts, such as herbal supplements, essential oils, and other botanical products. The dominance of Europe in this market may be attributed to factors such as a strong tradition of herbal medicine, a well-established pharmaceutical and nutraceutical industry, and favorable regulatory frameworks that support the cultivation and processing of plant-based products. This statistic highlights the importance of Europe as a key player in the plant extracts industry and underscores its significant contribution to the overall market landscape.
China and India are leading the market growth in the Asia-Pacific region due to the presence of large plant extract manufacturers.
The statistic suggests that China and India are driving market growth in the Asia-Pacific region primarily because of the significant presence of large plant extract manufacturers in both countries. This indicates that these manufacturers are playing a crucial role in the expansion of the market for plant extracts, perhaps due to their extensive production capacities, technological capabilities, and distribution networks. The competitive advantage held by these manufacturers is likely contributing to their ability to meet the growing demand for plant extracts in various industries such as pharmaceuticals, cosmetics, and food and beverages, thus positioning China and India as key drivers of market growth in the region.
The North America plant extracts market is expected to register a CAGR of 6.5% during 2022-2028.
This statistic indicates that the North America plant extracts market is projected to experience a Compound Annual Growth Rate (CAGR) of 6.5% from 2022 to 2028. This suggests that the market for plant extracts in North America is anticipated to grow steadily at a rate of 6.5% annually over the specified period. This growth rate reflects the expected increase in demand for plant extract products in various industries such as pharmaceuticals, food and beverages, cosmetics, and agriculture. Factors driving this growth could include rising consumer awareness about the health benefits of plant-based products, as well as the increasing trend towards natural and organic ingredients in these industries.
The South American plant extracts market is projected to grow at a CAGR of 7.8% during 2022-2028.
This statistic indicates that the South American plant extracts market is expected to experience a Compound Annual Growth Rate (CAGR) of 7.8% between the years 2022 and 2028. This means that on average, the market’s revenue or size is projected to increase by 7.8% each year during this period. Such growth rate suggests a positive outlook for the industry and implies that the demand for South American plant extracts is anticipated to steadily increase over the next several years. Factors driving this growth could include rising consumer awareness about natural products, a growing trend towards sustainable and eco-friendly ingredients, as well as potential health benefits associated with plant extracts.
By 2025, the global essential oils market, a crucial part of the plant extracts industry, is projected to reach USD 15.188.8 Million.
This statistic indicates that the global essential oils market, which is a significant segment within the plant extracts industry, is expected to experience substantial growth by the year 2025, reaching a projected value of USD 15,188.8 million. This suggests a strong and increasing demand for essential oils across various sectors such as healthcare, cosmetics, food and beverages, and aromatherapy. Factors driving this market growth may include the rising awareness and preference for natural and organic products, increasing consumer health consciousness, and the expanding applications of essential oils in different industries. Businesses operating in the essential oils market may have significant opportunities for expansion and innovation to meet the growing market demand and capitalize on these projected market values.
Spice extracts, a subset of plant extracts, are projected to grow at the highest CAGR of 9.6% from 2017 to 2025.
The statistic indicates that spice extracts, which are a specific type of plant extracts, are expected to experience the highest Compound Annual Growth Rate (CAGR) of 9.6% from the year 2017 to 2025. This means that the market for spice extracts is projected to expand rapidly over this period in comparison to other types of plant extracts. The high CAGR suggests an increasing demand for spice extracts, likely driven by factors such as changing consumer preferences, growing awareness of the health benefits of spices, and an expanding food and beverage industry. This growth rate indicates a lucrative opportunity for businesses operating in the spice extracts market, as they can expect significant growth and potential profitability in the coming years.
In 2020, the global plant extracts market was worth roughly USD 23.7 billion.
The statistic indicates that in the year 2020, the global plant extracts market had an estimated value of approximately USD 23.7 billion. This value represents the total economic worth of the market which includes the revenue generated from the production and sale of plant extracts worldwide during that year. Plant extracts are derived from various parts of plants and are utilized in a wide range of industries, including pharmaceuticals, cosmetics, food and beverages, and nutraceuticals. The substantial market value suggests a significant demand for plant extracts across different sectors, highlighting their importance in numerous products and applications. This statistic serves as a key indicator of the economic impact and growth potential of the plant extract industry on a global scale.
The cosmetics sector is projected to create an incremental opportunity of USD 5.14 billion from 2021-2031 in the plant extracts market.
The statistic indicates that the cosmetics sector is expected to generate an additional revenue opportunity of USD 5.14 billion in the plant extracts market during the period from 2021 to 2031. This suggests a potential increase in demand for plant extracts within the cosmetics industry, likely driven by factors such as consumer preferences for natural and organic ingredients, increasing awareness of sustainable and eco-friendly products, and the perceived benefits of plant-based extracts in skincare and beauty products. The projected growth signifies a significant market potential for plant extracts in the cosmetics sector over the next decade, presenting opportunities for companies operating in this market to capitalize on this trend and expand their offerings to meet the evolving needs and preferences of consumers.
The market of plant extracts for treating skin disorders is expected to grow at a CAGR of around 4.2% from 2021 to 2026.
The statistic indicates that the market for plant extracts used in treating skin disorders is projected to experience a Compound Annual Growth Rate (CAGR) of approximately 4.2% from 2021 to 2026. This growth rate suggests a steady increase in demand and consumption of plant extracts for skincare purposes over the specified period. Factors contributing to this growth may include a rising awareness and preference for natural and organic skincare products among consumers, as well as ongoing research and development efforts in the field of herbal medicine. Companies operating in this market may benefit from this expected growth by expanding their product offerings, investing in innovation, and adapting to changing consumer preferences and regulations related to skincare products.
The share of the nutraceuticals segment in the plant extracts market is expected to reach 26.1 % by 2027.
This statistic indicates that within the plant extracts market, the nutraceuticals segment is predicted to account for approximately 26.1% of the total market share by the year 2027. This suggests a notable growth in the popularity and demand for nutraceutical products derived from plant extracts over the next few years. The rising interest in natural health and wellness products, coupled with increasing consumer awareness about the potential benefits of nutraceuticals, is likely to drive this growth trend. This statistic underscores the significance of the nutraceuticals segment within the broader plant extracts market and highlights its potential as a key player in the industry in the coming years.
In terms of applications, cosmetics led the plant extracts market accounting for 25.8% of total revenue in 2020.
This statistic implies that within the plant extracts market in 2020, the largest share of revenue was attributed to the cosmetics industry, with a contribution of 25.8%. This suggests that plant extracts were predominantly utilized in the formulation of cosmetic products, emphasizing the significance of these natural ingredients in the cosmetics sector. The data highlights a strong demand for plant-derived substances in skincare, haircare, and other beauty products, showcasing a consumer preference for natural and botanical ingredients. This information is valuable for stakeholders in the plant extracts industry, indicating a lucrative opportunity for businesses specializing in plant-based cosmetic ingredients.
Conclusion
The statistics presented clearly highlight the significant growth and potential of the plant extracts industry. With rising consumer awareness about natural ingredients and increasing demand for health and wellness products, the future looks promising for companies involved in this sector. It is crucial for businesses to stay informed about market trends and developments to capitalize on the opportunities available in the plant extracts industry.
References
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