The Business Research Company’s Plant Extracts Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 6, 2023 /EINPresswire.com/ — The global plant extracts market, valued at $25.53 billion in 2022, is anticipated to reach $28.23 billion in 2023, demonstrating a commendable compound annual growth rate (CAGR) of 10.5%. Despite the disruptive impact of the Russia-Ukraine conflict on global economic recovery, the market is projected to maintain a positive trajectory, culminating in a market size of $39.89 billion by 2027, with a CAGR of 9.0%. The market’s growth is prominently fueled by the burgeoning demand attributed to the rapid surge in the vegan trend.
Market Segmentation and Key Players
• Type: Spices, Essential Oils and Natural Extracts, Flavors and Fragrance, Phytomedicines and Herbal Extracts, Phytochemicals, Other Types
• Source: Fruits, Flowers and Bulbs, Leaves, Rhizomes and Roots, Barks and Stems, Other Sources
• Application: Pharmaceuticals, Food and Beverages, Cosmetics, Other Applications
Prominent plant extracts market players such as Givaudan, Symrise, and Indena are actively shaping the market landscape through continuous advancements and strategic initiatives in the plant extracts domain.
To explore the market landscape further, view a sample report here:
Technological Advancements Redefining Market Landscape
The market is witnessing an upsurge in technological advancements as companies within the sector intensify efforts to develop innovative solutions, further solidifying their market position. For example, the launch of the Firgood ingredients by Firmenich in June 2021 highlights the industry’s commitment to sustainable practices. Leveraging a revolutionary solvent-free extraction technology, the Firgood process employs low-energy methods and electromagnetic vibration to extract pure plant extracts, highlighting the sector’s emphasis on eco-friendly and efficient extraction processes.
Regional Analysis and Future Market Outlook
With Asia-Pacific emerging as the largest market for plant extracts in 2022, the region is poised to experience the fastest growth during the forecast period. The comprehensive market report provides detailed analyses of key regions, encompassing Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
For a comprehensive understanding of the evolving dynamics within the global plant extracts market, access the complete market report here:
Plant Extracts Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Plant Extracts Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on plant extracts market size, plant extracts market drivers and trends, plant extracts market major players, plant extracts market competitors’ revenues, plant extracts market positioning, and plant extracts market growth across geographies. The plant extracts market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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About The Business Research Company
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