Global Plant Extract Market: Overview
The global plant extract market is expected to grow at a substantial rate during the forecast period. The rising awareness about the benefits of the plant based food and food products are expected to provide impetus to growth in the global plant extract market.
Transparency Market Research (TMR) report sheds some light on share, size, trend, and growth of the global plant extract market in the upcoming years.
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Global Plant Extract Market: Notable Developments
The recent developments in natural food and global plant extracts market include:
In March 2019, Arjuna Edayar Team was awarded with Factory Grading Gold Certificates in Safety Award Dispersal Function in Ernakulam, Kerala, India.
In 2019, Arjuna Natural Ltd receives new patent from Europe for enhancing bioavailability of curcumin formulation.
The global plant extracts market is competitive and fragmented. The leading companies in the global plant extract market are Native Extracts Pty. Ltd. (Australia), Tokiwa Phytochemical Co., Ltd. Synthite Industries Private Ltd. (India), Döhler (Germany), Arjuna Natural Extracts Ltd. (India), Martin Bauer GmbH & Co. KG (Germany), and Givaudan (Switzerland).
Global Plant Extract Market: Drivers and Restraints
Pharmaceuticals to Promote Plant Extract Market
Several pharmaceutical companies are using plant extracts for drug development. Additionally, rising adoption alternate therapies such as homeopathy and Ayurveda are expected to boost the growth in the global plant extracts market over the forecast period.
Rising demand for dietary food supplements is projected to drive the global plant extract market.
Further, rising demand for organic food and the wave of trending plant based food among health conscious population are likely to surge the plant extract market in the upcoming years.
Plant Extracts are not limited to food alone, the cosmetic and personal care industry also demands plant extracts because people want natural products in their make-up and beauty products also. This is expected to aid in the growth of the global plant extract market in the upcoming years.
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Growing Vegan Population to Strengthen Plant Extract Market
A large number of population across the globe are turning vegan, thus increasing adoption of vegan lifestyle is expected to boost the global plant extract market.
The plant extracts are available in various forms such as powder form, liquid form. Some end users demand powder form and others like homeopaths demand liquid form of plant extracts.
Further, the plant extracts are also used in home décor products such as candles and other fresheners, aiding in the expansion of the global plant extracts market.
Global Plant Extract Market: Geographical Analysis
The Asia Pacific market is expected to dominate the global plant extracts market during the forecast period. This hub of medicinal plants like India and China are projected to be the major region catering in the growth of the plant extract market. Moreover, the presence of several plant based manufactures and increased adoption of alternate medicines such as Ayurveda and homeopathy are expected to surge the global plant extract market in this region.
Countries such as Thailand and Indonesia are investing heavily on plant based research and developments to introduce innovative plant based products.
North America is expected to join the bandwagon of adopting including herbal and natural dietary supplements. This growth is mainly due to increasing number of people turning vegan or vegetarians.
All these factors are projected to increase the sales of herbal products, pushing the global plant extract market in the future.
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