The Asia Pacific Plant Extracts Market would witness market growth of 12.1% CAGR during the forecast period (2022-2028).
Natural extracts do not have any unfavorable side effects, unlike the majority of chemical-based ingredients found in medicines, food, and beverage products, personal care products, and cosmetics. Furthermore, businesses have made finding environmentally friendly and natural ingredients a top focus. Due to their multiple overall health benefits, natural extracts are anticipated to increase product demand within pharmaceutical and nutraceutical applications. In the coming years, it is anticipated that these factors would significantly boom product demand.
In various developed countries where dietary supplements and nutraceuticals with health claims are pre-approved by the FDA, or Food and Drug Administration, following the Dietary Supplements Health and Education Act, herbal drugs are typically sold as such. These products are governed by less stringent FDA rules than conventional medications.
The urban population is growing more health conscious, which is driving up the need for alternative medications and therapies as people start to trust natural products more and more. Regional governments also emphasize the development of sustainable livelihoods and the adoption of various livelihoods for a household, and the Government of India is promoting low input, high output lemongrass cultivation as a program for women empowerment. Due to this, the production of plant extracts is estimated to surge substantially in the region. This factor would spur the growth of the regional market.
The China market dominated the Asia Pacific Plant Extracts Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,180.5 million by 2028. The Japan market is exhibiting a CAGR of 11.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 12.8% during (2022 - 2028).
Based on Application, the market is segmented into Food & Beverages, Cosmetics, Pharmaceuticals, Dietary Supplements, and Others. Based on Source, the market is segmented into Herbs & Spices, Fruits & Vegetables, and Flowers. Based on Form, the market is segmented into Dry and Liquid. Based on Product Type, the market is segmented into Oleoresins, Essential Oils, Flavonoids, Alkaloids, Carotenoids, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Plant Extracts Market is Projected to reach USD 65.6 Billion by 2028, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include International Flavors & Fragrances, Inc., Kerry Group PLC, Archer Daniels Midland Company, Carbery Group Ltd., Koninklijke DSM N.V., Döhler Gmbh, Symrise AG, Givaudan S.A., Synthite Industries Pvt. Ltd., and Kalsec Inc.
By Application
By Source
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By Product Type
By Country
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