Objective of the Study
- Understand addressable market and growth rate %
- Most attractive targetable segments for the period 2020-2035
- Adoption of different type of plant extracts in various applications such as food & beverage, pharmaceuticals, cosmetics & personal care, animal feed, aroma therapy, etc.
- List of potential customers that can be targeted
- Identify the key manufacturers and their product offering for different applications
Overview
Plant extracts are substances obtained by extracting specific components from the tissues of plants using solvents or physical methods. These extracts are typically concentrated and used for their bioactive properties, flavor, aroma, or therapeutic benefits across various industries. This report analyzes usages of plant extracts such as essential oil, oleoresin, flavonoids, alkaloids, carotenoids, triterpenoids, phenolic, etc. in various industries such as pharmaceuticals, cosmetics, food & beverages, and nutraceuticals.
The adoption and usage level of essential oil significantly higher (~63%) comparing to other plant extracts; however, this ratio can vary significantly depending on the application area and regions.
Increasing consumer preference for natural ingredient and rising health awareness are witnessing to drive the demand and growth of plant extracts; and at the same time variability in raw material quality and higher dependence on supply chain could restrict the market growth.
This report discusses about various leading manufacturers of plant extract such as Archer-Daniels-Midland Company (ADM), International Flavors & Fragrance, Givaudan, Kerry Group, Dohler GmbH in terms of their product offerings, market shares, new innovations and futuristic strategies
Primary Snippet
Essential oil is the primary plant extract derived and is in demand that could account for 60-65% of the overall market. Most of the plant extracts are derived form leaves and roots that are used mostly used in food & beverages and pharmaceutical industries. These two applications accounts for 75-80% of the demand.
Consumers nowadays preferring products free from synthetic additives, artificial colors, and preservatives. This will drive the demand globally that could achieve double digit growth rate
Sales Manager – Givaudan
Results
$US 36.9 Billion
(Market size in 2024)
Essential Oil
(Most attractive essential oil that contributes ~63.5% of the overall market)
11.4% Growth in Food & Beverages
(Food & Beverages is the fastest growing industry for Plant Extract; 11.4% during the period 2025-2035)
Leading Players
(Archer-Daniels-Midland Company (ADM), International Flavors & Fragrance, Givaudan, Kerry Group, and Dohler GmbH are the leading players that constitute more than 26% of the market share)
Conclusion:
Essential oil dominates the plant extract market with ~63% of market share and is set to maintain the statuesque with its faster growth rate comparing to other plant extracts, in the next 8-10 years. This is primarily due to functional benefits, broad applications, and consumer-driven trends toward natural and sustainable products..
The demand for other extracts is also expected to grow steadily due to their functional versatility, application-specific advantages, and increasing demand for natural and health-promoting ingredients across sectors.
Our Approach
Supply Side Approach
- Identified the key manufacturers and mapped their products related to plant extract
- Collected their overall and industry specific revenues from annual reports, investor presentations and other publications
- Estimation of overall market size (value) based on revenues of players and their market shares
- Estimated the ratio of plant extract type and source from the product mapping done specifically for each of the applications and their respective revenue calculation
- Detailed price analysis (quotation from manufacturers, import-export database, etc.)
- Exhaustive primary interviews for data validation
Demand Side Approach
- Researched each of the application to understand sub-applications and use cases
- Analyzed usage level of each of plant extract type in different applications/sub-applications
- Analyzed investment spending/procurement value/quantity of plant extracts to understand their individual shares to the overall market
- Analyzed shares of various sub-applications within end-use industries based on the usage level and demand of servo valve in those industries
- Detailed primary interviews for data validation
