BlueWeave Consulting review study of the plant extracts market anticipated to propel with a significant CAGR of 14.8% in the forecasted period of 2019-2025. Increasing preference shift towards herbal phytomedicines over allopathic is the key factor expected to drive the growth of the global plant extracts market with a significant growth rate in upcoming years. Changing lifestyle pattern, increasing stress and chronic diseases increasing the demand for regular food and supplement consumption associated with minimal side effects makes the market lucrative propel the demand for plant extracts in the upcoming years.
Plant extracts market: competitive landscape
Some of the major industry players are Givaudan, International Flavors & Fragrances, Inc. (IFF), Sensient Technologies, Symrise AG, Döhler, Synthite Industries Private Ltd., PT. Indesso Aroma, PT. Haldin Pacific Semesta, Vidya Herbs Private Limited, Arjuna Natural Extracts Ltd. and Other Prominent Players.
Rising R&D activities expected to dominate the global plant extracts market
Factors such as increasing R&D activities, growing plant extract advantages awareness among the public over synthetic products, enhancement in demand for food-boosting convenience, health benefits associated with herbal and phytomedicines over other drugs contributing to rising demand for plant extracts in the global market during the forecast period of 2019-2025. Multi-purpose outcome form single plant extract is the significant growth driven factor for rising R&D in plant extracts industry. Rising technological advancement in extraction processes, reduction in time for processing, rising competition in terms of quality is the key factor that directly leads to drive the significant growth in global plant extracts market. An increase in health-conscious population with disposable income and the rising popularity of convenience foods anticipate d to boost the demand for plant extracts.
Phytomedicines segment anticipated dominating the global plant extracts market in the forecast period
The rising industrial application associated with herbal extract and phytomedicines such as skincare, functional food, and cosmetics coupled with rising health benefits is the key factors anticipated to drive the demand of the phytomedicines segment in the global market in the upcoming years. Factors such as rising premium lifestyle changes, healthy eating trends, inclination toward herbal product propelling the demand of global plant extract market in the forthcoming years. In addition, engaged advantages such as antioxidant and antimicrobial properties make phytomedicines market lucrative in terms of value. Enhancement rate of essential oil consumption, huge availability of aromatic medicinal plant coupled with rising food and beverages industry contributes to global market growth during the forecast period of 2019-2025.
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The Objective of the Study:
· To analyze and forecast the global plant extracts market size of the market, in terms of value.
· To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the global plant extracts market into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America and their leading countries.
· To outline, categorized and forecast the global plant extracts market based on the type, application and end user.
· To examine competitive developments like technological advancement, services, and regulative framework within the global plant extracts market.
· To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
· To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.