Overview and Scope
Plant extracts refer to a method intended to extract specific plant-based ingredients. This process separates solids from liquids by bringing a solid (the plant) into contact with the liquid (the solvent), which is then used to solubilize and contain the valuable plant components. They have medicinal, aromatic, anti-inflammatory, antifungal, antimicrobial, antiparasitic, antiprotozoal, and antioxidant effects.

Sizing and Forecast
The plant extracts market size has grown strongly in recent years. It will grow from $27.94 billion in 2023 to $30.55 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing consumer awareness, rising demand for natural ingredients, expanding applications in pharmaceuticals, globalization of trade.

The plant extracts market size is expected to see strong growth in the next few years. It will grow to $44.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growing popularity of functional foods, expanding cosmetics and personal care industry, government initiatives supporting herbal products, environmental sustainability concerns. Major trends in the forecast period include rising research and development activities, technological advancements in extraction techniques, focus on superfoods, personalization of nutraceuticals, innovations in extraction methods, emergence of plant-based meat alternatives, integration of traditional medicine, clean label movement.

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Segmentation & Regional Insights
The plant extracts market covered in this report is segmented –

1) By Type: Spices, Essential Oils and Natural Extracts, Flavors and Fragrance, Phytomedicines and Herbal Extracts, Phytochemicals, Other Types
2) By Source: Fruits, Flowers and Bulbs, Leaves, Rhizomes and Roots, Barks and Stems, Other Sources
3) By Application: Pharmaceuticals, Food and Beverages, Cosmetics, Other Applications

Asia-Pacific was the largest region in the plant extracts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rapid growth in the vegan trend is significantly contributing to the growth of the plant extract market. A vegan refers to a person who doesn’t consume animal products, including meat, eggs, or dairy products. Vegan people consume plant-based products to fulfil their nutritional requirements. For instance, according to the Plant-Based Foods Association (PBFA), a US-based trade association, retail sales of plant-based foods in the United States increased by 6.2% in 2021. Therefore, the rapid growth in vegan trends is driving the growth of the plant extract market.

Key Industry Players
Major companies operating in the plant extracts market report are Naturex S. A., Berkem S. A., Kuber Impex Ltd., Network Nutrition Pty Limited, Organic Herb Inc., Qualiphar-Gifrer, Givaudan S. A., Arjuna Natural Pvt Ltd., Synthite Industries Private Ltd., Martin Bauer Group, Tokiwa Phytochemical Co Ltd., Native Extracts Pty Ltd., Symrise AG, Sensient Technologies Corporation, PT Indesso Aroma, Vidya Herbs Pvt Ltd., Plant Extracts International Inc., Indena S. p. A., Nutra Green Biotechnology Co Ltd., Nantong Sihai Plant Extracts Co. Ltd., Schwabe Group, Provital Group, Chenguang Biotech Group Co Ltd., Kangcare Bioindustry Co. Ltd., International Flavors & Fragrances Inc., Kerry Group plc, Archer Daniels Midland Company, Kalsec Inc., Carbery Group, Koninklijke DSM N. V., Döhler GmbH, Vital Herbs, Alchemy Chemicals, Sydler India Pvt. Ltd., Plantnat, PhytoVation Ltd., Sabinsa Corporation, Nexira

The plant extracts market report table of contents includes:

1. Executive Summary
2. Plant Extracts Market Characteristics
3. Plant Extracts Market Trends And Strategies
4. Plant Extracts Market - Macro Economic Scenario
5. Global Plant Extracts Market Size and Growth
..........
31. Global Plant Extracts Market Competitive Benchmarking
32. Global Plant Extracts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Plant Extracts Market
34. Plant Extracts Market Future Outlook and Potential Analysis
35. Appendix
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