Plant Extracts Market Size, Share, Forecast, & Trends Analysis by Product, Form, Source, Application

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Plant Extracts Market Size, Share, Forecast, & Trends Analysis by Product (Essential Oils, Oleoresins, Flavonoids, Carotenoid), Form (Liquid), Source (Herbs & Spices, Fruits & Vegetables), Application (Food & Beverages, Cosmetics)-Global Forecast to 2031

According to a new market research report titled, 'Plant Extracts Market Size, Share, Forecast, & Trends Analysis by Product (Essential Oils, Oleoresins, Flavonoids, Carotenoid), Form (Liquid), Source (Herbs & Spices, Fruits & Vegetables), Application (Food & Beverages, Cosmetics)-Global Forecast to 2031,' published by Meticulous Research(R), the plant extracts market is projected to reach $63.26 billion by 2031, at a CAGR of 8.7% from 2024 to 2031. The report provides an in-depth analysis of the plant extracts market across five major geographies, current market trends, size, and recent developments, and the forecast for 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends.

The growth of the plant extracts market is primarily driven by the increasing consumer awareness regarding the benefits of natural products, growing demand for natural colors and flavors, rising demand for herbal supplements, and growing concerns regarding the use of synthetic ingredients. However, challenges such as fluctuations in raw material prices and the availability of a high number of substitutes at lower costs restrain the growth of this market to some extent.

Furthermore, the increasing demand for the cosmetics industry, the emergence of developing countries, and the increasing utilization of oleoresins in animal feed are expected to generate significant growth opportunities for the market players. On the other hand, high production costs and stringent regulations are the major challenges impacting the growth of the plant extracts market.

Moreover, the increasing adoption of clean-label products and growing awareness of health & wellness are prominent trends in the plant extracts market.

Key Players

The key players operating in the plant extracts market are Arjuna Natural Extracts Ltd. (India), Dohler GmbH (Germany), Givaudan SA (Switzerland), International Flavors & Fragrances Inc (U.S.), Synthite Industries Ltd (India), Sensient Technologies Corporation (U.S.), Symrise AG. (Germany), Synergy Flavors Inc. (U.S.), doTERRA International, LLC (U.S.), ROBERTET SA (France), Kalsec Inc. (U.S.), Vidya Herbs Pvt Ltd. (India), Ruther Gewurze GmbH (Germany), Universal Oleoresins (India), Essential Oils of New Zealand Ltd (New Zealand), and Sydney Essential Oil Co. (Australia).

Based on product type, the plant extracts market is segmented into essential oils, oleoresins, flavonoids, alkaloids, carotenoids, and other product type. In 2024, the essential oils segment is expected to account for the largest share of over 44.9% of the plant extracts market. The large market share of this segment can be attributed to factors such as the high use of essential oils in various industries, including food & beverages, cosmetics and personal care, and medicinal applications, growing demand for natural and organic products, and rising interest in aromatherapy.

Based on form, the plant extracts market is segmented into liquid and dry plant extracts. In 2024, the liquid plant extracts segment is expected to account for a larger share of the plant extracts market. The large market share of this segment can be attributed to factors such as the high use of essential oils and oleoresins, its versatility and ease of application in various industries. Liquid form is more convenient for incorporation into different products such as cosmetics, personal care items, food, and beverages. Also, liquid plant extract has other advantages such as liquid form allows better homogeneity and easier dosing in final products.

Based on source, the plant extracts market is segmented into herbs & spices, fruits & vegetables, and flowers. In 2024, the herbs & spices segment is expected to account for the largest share of over 53.2% of the plant extracts market. The significant market share of this segment can be ascribed to several factors, such as growing knowledge of the health advantages of herbs and spices, their extensive application in ayurvedic treatments, their growing use in the cosmetics & personal care sector, which includes skin, hair, and nail products, and their growing use in the food and beverage industry. The medicinal qualities of spices and herbs, including their anti-inflammatory and antioxidant capabilities, are what propel the global market's expansion.

Based on application, the plant extracts market is segmented into food & beverage, cosmetics & personal care, pharmaceutical & nutraceutical, animal feed, and other applications. In 2024, the food & beverage segment is expected to account for the larger share of over 44.9% of the plant extracts market. This segment's significant market share can be attributed to several factors, including the expanding popularity of processed foods, the preference for natural ingredients over synthetic ones, the rise in the demand for natural food flavor and color, and the growing popularity of clean-label products.

However, the cosmetics & personal care segment is projected to witness the highest growth rate of 9.3% during the forecast period of 2024-2031. This growth is driven by increasing awareness of natural ingredients, growing demand for vegan beauty products, and increasing demand for the perfume industry.

Based on geography, the plant extracts market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 35.7% of the global plant extracts market, followed by North America and Europe. Asia-Pacific plant extracts market is estimated to be worth $12.62 billion in 2024. Asia-Pacific's significant market share can be attributed to several key factors, including the increasing disposal income, changing lifestyle, increasing consumer demand for processed food products, growing demand for healthy food ingredients, high consumer preference for herbal supplements, high availability of raw materials, large numbers of food & beverages manufacturers in the region.

Key Questions Answered in the Report:

What is the value of revenue generated by the sale of plant extracts?
At what rate is the demand for plant extracts projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the plant extracts market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type, form, source, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the plant extracts market?
Who are the major players in the plant extracts market? What are their specific product offerings in this market?
What recent developments have taken place in the plant extracts market? What impact have these strategic developments created on the market?

Scope of the Report:

Plant Extracts Market Assessment-by Product Type

Essential Oils
Oleoresins
Flavonoids
Alkaloids
Carotenoids
Other Product Type

Plant Extracts Market Assessment-by Form

Liquid
Dry

Plant Extracts Market Assessment-by Source

Herbs & Spices
Fruits & Vegetables
Flowers

Plant Extracts Market Assessment-by Application

Food & Beverage
Cosmetics & Personal Care
Pharmaceutical & Nutraceutical
Animal Feed
Other Applications

Plant Extracts Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Poland
- Belgium
- Rest of Europe (RoE)
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Malaysia
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRFB - 1041305

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection & Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Plant Extracts Market Analysis: by Product Type
- 3.2.2. Plant Extracts Market Analysis: by Form
- 3.2.3. Plant Extracts Market Analysis: by Source
- 3.2.4. Plant Extracts Market Analysis: by Application
3.3. Plant Extracts Market, by Regional Analysis
3.4. Competitive Landscape & Market Competitors

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Increasing Consumer Awareness Regarding the Benefit of Natural Products
  - 4.2.1.2. Growing Demand for Natural Colors and Flavors
  - 4.2.1.3. Rising Demand for Herbal Supplements
  - 4.2.1.4. Rising Concerns Regarding the Use of Synthetic Ingredients
- 4.2.2. Restraints
  - 4.2.2.1. Fluctuations in Raw Material Prices
  - 4.2.2.2. Availability of High Number of Substitutes at Lower Cost
- 4.2.3. Opportunities
  - 4.2.3.1. Increasing Demand for the Cosmetics Industry
  - 4.2.3.2. Emergence of Developing Countries
  - 4.2.3.3. Increasing Utilization of Oleoresins in Animal Feed
- 4.2.4. Challenges
  - 4.2.4.1. High Production Costs
  - 4.2.4.2. Stringent Regulations
4.3. Trends
- 4.3.1. Increasing Adoption of Clean-label Products
- 4.3.2. Increasing Awareness of Health & Wellness
4.4. Porters Five Forces Analysis
- 4.4.1. Bargaining Power of Suppliers
- 4.4.2. Bargaining Power of Buyers
- 4.4.3. Threat of Substitutes
- 4.4.4. Threat of New Entrants
- 4.4.5. Degree of Competition
4.5. Pricing Analysis

5. Plant Extracts Market Assessment-by Product Type

5.1. Overview
5.2. Essential Oils
5.3. Oleoresins
5.4. Flavonoids
5.5. Alkaloids
5.6. Carotenoids
5.7. Other Product Types

6. Plant Extracts Market Assessment-by Form

6.1. Overview
6.2. Liquid
6.3. Dry

7. Plant Extracts Market Assessment-by Source

7.1. Overview
7.2. Herbs & Spices
7.3. Fruits & Vegetables
7.4. Flowers

8. Plant Extracts Market Assessment-by Application

8.1. Overview
8.2. Food & Beverage
8.3. Cosmetics & Personal Care
8.4. Pharmaceutical & Nutraceutical
8.5. Animal Feed
8.6. Other Applications

9. Plant Extracts Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1. U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. France
- 9.3.3. U.K.
- 9.3.4. Italy
- 9.3.5. Spain
- 9.3.6. Netherlands
- 9.3.7. Poland
- 9.3.8. Belgium
- 9.3.9. Rest of Europe
9.4. Asia Pacific
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South Korea
- 9.4.6. Indonesia
- 9.4.7. Malaysia
- 9.4.8. Rest of Asia-Pacific
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Argentina
- 9.5.3. Mexico
- 9.5.4. Rest of Latin America
9.6. Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies

11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

11.1. Arjuna Natural Extracts Ltd.
11.2. Dohler GmbH
11.3. Givaudan SA
11.4. International Flavors & Fragrances Inc.
11.5. Synthite Industries Ltd
11.6. Sensient Technologies Corporation
11.7. Symrise AG
11.8. Synergy Flavors Inc.
11.9. doTERRA International, LLC
11.10. ROBERTET SA
11.11. Kalsec Inc.
11.12. Vidya Herbs Pvt Ltd.
11.13. Ruther Gewurze GmbH
11.14. Universal Oleoresins
11.15. Essential Oils of New Zealand Ltd
11.16. Sydney Essential Oil Co.

(Note: SWOT Analysis of Top 5 Companies Will Be Provided)

12. Appendix

12.1. Available Customization
12.2. Related Reports