One of the key drivers of growth in the Plant Extracts Market industry is the increasing demand for environmentally sustainable and socially responsible products and services. Consumers are becoming more aware of the impact their purchases have on the environment and society, and are increasingly looking for products and services that align with their values. As a result, companies that prioritize sustainability and social responsibility are gaining a competitive advantage in the market. Another trend that is driving growth in the industry is the increasing use of technology and automation. Many companies are investing in new technologies to improve their efficiency and reduce costs, which is helping to drive down prices and make products and services more accessible to consumers. However, the report also highlights several challenges facing the industry, including increased competition and regulatory pressures, which could limit growth in the future.
Plant Extracts Market size was valued at US$ 30.63 Bn. in 2021 and the total Plant Extracts revenue is expected to grow at 13.2% from 2022 to 2029, reaching nearly US$ 82.59 Bn.
Plant Extracts Market Overview:
In addition to the comprehensive analysis of the Plant Extracts market industry, our research team can tailor the study to include specific market segments such as refurbished products and pricing trends of target brands. We can also provide in-depth knowledge of other countries' markets based on your needs. Our team can conduct literature research and examine clinical trial findings to provide insights into the latest developments in the market. Moreover, we can perform competitor analysis that covers market portfolio planning, technology-based research, and more. Our analysts can customize the report to include data on as many competitors as you require in the style and data format of your choice. Furthermore, we can help you create presentations using the data sets from the report using pivot tables, raw excel files, or other formats. Our goal is to provide you with the most comprehensive and actionable insights to help you make informed decisions for your business.
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Market Scope:
The market study provides insights into each of the major end users of the Plant Extracts Market Trends as well as yearly estimates through 2029. The report forecasts the global Plant Extracts Market's revenue, sales, and growth rate. Forecasts for the market's product, application, and regional categories are also included. Forecasts are created to aid in understanding the sector's prospects and potential.
Segmentation:
Throughout the projection period, the food and beverage segment is anticipated to expand at a CAGR of 8.1%. The food and beverage sectors are becoming more and more interested in botanical components. Between 2017 and 2020, sales of beverages with plant extracts increased by 46%. Furthermore, more than 97% of consumers interviewed globally stated that botanical components and tastes appeal to them in a 2021 global consumer research study titled Botanical State of Mind: Uncovering customers' personal and emotional affinity with botanicals. For the study, more than 6,500 customers were surveyed in 12 nations across North America, Europe, Latin America, Asia Pacific, and Africa.
Key Players:
• Sensient Technologies (US)
• International Flavors Fragrances (US)
• Prinova Group LLC. (US)
• Synergy Flavors, Inc. (US)
• Kalsec, Inc. (US)
• Plant Extracts International (US)
• PT. Indesso Aroma (Indonesia)
• PT. Haldin Pacific Semesta (Indonesia)
• Döhler (Germany)
• Symrise AG (Germany)
• Martin Bauer (Germany)
• Blue Sky Botanics Ltd. (UK)
• Ransom Naturals Ltd. (UK)
• Organic Herb (UK)
• Synthite Industries (India)
• Vidya Herbs Private Limited (India)
• Arjuna Natural Extracts (India)
• Givaudan (Switzerland)
• Kangcare Bioindustry Co.,ltd. (China)
• Tokiwa Phytochemical (Japan)
• NATIVE EXTRACTS Pty Ltd (Australia)
• Network Nutrition (Australia)
• Indena (Italy)
• Naturex (France)
• Frutarom Industries Ltd. (Israel)
Regional Analysis:
In the geographical overview of the Plant Extracts market analysis, specific market influencing factors and regulatory changes that have an impact on current and future market trends are also included. Current and upcoming trends are studied to evaluate the market's potential overall and find lucrative patterns to establish a firmer footing. The geographic market assessment is based on the current situation and anticipated changes.
COVID-19 Impact Analysis on Plant Extracts Market:
End-user industries using Plant Extracts industry saw a decline in growth from January 2020 to May 2020 as a result of a halt in operations. These nations included China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India. The demand for Plant Extracts manufacturers also decreased significantly as a result, which had a negative impact on the growth of the Plant Extracts market in 2020. Lockdowns and an increase in COVID-19 events globally have decreased end-user business demand for Plant Extracts.
Key Questions Answered in the Plant Extracts Market Report are:
- What are the most promising high-growth opportunities in the global Plant Extracts sector, as defined by product category, End User, and Region?
- Which Plant Extracts market segments will expand the fastest, and why?
- Which regions will have the fastest growth, and why?
- What are the primary elements influencing Plant Extracts market dynamics? What are the primary drivers and obstacles in the Plant Extracts market size?
- What are the Plant Extracts market's weaknesses and threats?
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