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What Future CAGR is Anticipated for the Plant Extracts Market Over the 2025–2034 Period?

The market size for plant extracts has seen robust growth over the past few years. The value is predicted to escalate from $30.31 billion in 2024 to a significant $33.16 billion in 2025, showing a compound annual growth rate (CAGR) of 9.4%. This surge during the historic era has been influenced by mounting consumer consciousness, an incline in the call for natural components, increased uses in the pharmaceutical sector, and the worldwide expansion of trade.

In the coming years, the market size of plant extracts is anticipated to experience swift expansion, with an expectation of reaching $49.2 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.4%. The projected growth can be traced back to an increase in demand for functional foods, escalating cosmetics and personal care sectors, government-backed activities advocating herbal merchandise, and issues revolving around environmental sustainability. The period of the forecast is expected to witness major trends such as elevated R&D efforts, technological progression in extraction practices, emphasis on superfoods, customization of nutraceuticals, innovative extraction techniques, the rise of plant-based meat alternatives, incorporating traditional medicine, and the burgeoning clean label movement.

Which Primary Drivers Are Supporting the Continued Expansion of the plant extracts Market?

The escalating rise of the plant extract market is largely fueled by the increasing popularity of veganism. Those who follow a vegan lifestyle avoid animal-based products such as meat, eggs, and dairy, choosing to depend on plant-based products to meet their nutritional needs instead. The rapid shift towards vegan dietary patterns is significantly propelling the expansion of the plant extract market. The Plant-Based Foods Association (PBFA), a trade organization based in the US, reported a 6.6% increase in US retail sales of plant-based foods in 2022, further illustrating the influence of veganism on the market.

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Who Are the Influential Players Fueling Innovation and Growth in the Plant Extracts Market?

Major companies operating in the plant extracts market include:

• Naturex S. A._x000D_

• Berkem S. A._x000D_

• Kuber Impex Ltd._x000D_

• Organic Herb Inc._x000D_

• Givaudan S. A._x000D_

What Impact Are Industry Trends Having on the Plant Extracts Market’s Future Prospects?

Eminent companies in the plant extracts market are concentrating on creating novel products such as PrimeLock, a vegan-friendly alternative that mimics animal fat cells. This assists food businesses in improving plant-based product development and drawing consumer’s to increase their market revenues. For instance, Givaudan, a Swiss flavors and fragrance corporation, introduced PrimeLock+ in February 2022, a naturally sourced, vegan-friendly substance. PrimeLock envelops and safeguards both flavor and fat, gradually discharging them during cooking and eating. This strategy helps preserve the preferred juiciness in plant-based foods like burgers and sausages, which frequently lose moisture when cooked. This innovative technology enables a decrease of up to 75% of fat and 30% of calories in plant-based goods, without compromising on their taste or texture.

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Which Primary Segments of the Plant Extracts Market Are Driving Growth and Industry Transformations?

The plant extracts market covered in this report is segmented –

1) By Type: Spices, Essential Oils And Natural Extracts, Flavors And Fragrance, Phytomedicines And Herbal Extracts, Phytochemicals, Other Types

2) By Source: Fruits, Flowers And Bulbs, Leaves, Rhizomes And Roots, Barks And Stems, Other Sources

3) By Application: Pharmaceuticals, Food And Beverages, Cosmetics, Other Applications

Subsegments:

1) By Spices: Whole Spices, Ground Spices, Spice Extracts

2) By Essential Oils And Natural Extracts: Aromatherapy Oils, Carrier Oils, Concentrated Extracts

3) By Flavors And Fragrance: Natural Flavoring Agents, Fragrance Oils, Flavoring Extracts

4) By Phytomedicines And Herbal Extracts: Herbal Supplements, Medicinal Plant Extracts, Traditional Herbal Remedies

5) By Phytochemicals: Alkaloids, Terpenoids, Polyphenols

6) By Other Types: Nutraceuticals, Cosmetic Plant Extracts, Feed Additives

What Regions Are Leading the Growth Trajectory of the Plant Extracts Market?

Asia-Pacific was the largest region in the plant extracts market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Do Experts Define the Scope of the Plant Extracts Market?

Plant extracts refer to a method intended to extract specific plant-based ingredients. This process separates solids from liquids by bringing a solid (the plant) into contact with the liquid (the solvent), which is then used to solubilize and contain the valuable plant components. They have medicinal, aromatic, anti-inflammatory, antifungal, antimicrobial, antiparasitic, antiprotozoal, and antioxidant effects.

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