The natural extracts market size will be worth around $25 billion per

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TOkyo, May 21, 2022 (GLOBE NEWSWIRE) — The world Natural extracts market size was estimated at 11.94 billion dollars in 2021. Natural extracts of other substances which are obtained smoothly by removing any part of the raw material. They are usually obtained from fruits, plants and other parts. Natural extracts have a wide range of applications in nutraceuticals, colors, flavors, edible oils and more. An increase in the agricultural industry is expected to provide good growth opportunities for the natural extracts market in the coming years. Natural extracts are increasingly in demand in industries such as perfumery, cosmetics, pharmaceuticals, nutraceuticals, food and beverages, etc.

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Report Highlights

  • The dried crop products segment is expected to dominate the market during the forecast. It had the largest revenue share of about 40% till 2020. As many end-user industries use the dried crops in their products, the demand for dried crops is increasing.
  • Based on natural extracts products, the essential oil segment is expected to witness strong growth over the forecast period as it has many different aromatherapy, fragrance and flavor applications.

Report scope

Report attributes Details
Market size in 2021 $11.94 billion
Revenue forecasts by 2030 $25 billion
CAGR 8.9% from 2022 to 2030
base year 2021
Forecast data 2022 to 2030
Companies covered Flavex Naturextrakte GmbH, Arjuna Natural Pvt. Ltd., Firmenich SA, Robertet Group, Sami Spices, Synthite Industries Ltd., Ransom Naturals Ltd., India Essential Oils, AG Industries, Symrise, Kancor

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Regional overview

The second largest market for natural extracts is in the North American region. As there are varied applications in flavor and fragrances in this region for various industries like beverage, medicine or food, the North America market is expected to witness growth during the forecast. As there are many end-user segments in the North American region that utilize the natural extracts, there is a growth of the market in this region. The European economy is a developed economy with a high standard of living. There is a strong demand for essential oils and floral extracts used in aromatherapy. Countries like Switzerland, Germany, France and Austria are big markets for aromatherapy and hence the market for natural extracts is expected to grow in European countries.

As many pharmaceutical manufacturers are based in Europe, the market is expected to grow. A demand for pharmaceuticals and nutraceuticals in the European region is expected to drive the natural extracts market. About 50% of the global demand for essential oils is in the European region. It is widely used in personal care and the food and beverage industry. Manufacturers in European countries are encouraged to make natural and healthier products using these natural extracts.

Market dynamics

Drivers

Growing adoption of products made with natural ingredients, changing lifestyles, consumer awareness, and advancements in biotechnology are driving the natural extracts market. Rising disposable income, research and development, growth in the agricultural industry, and aging population are also driving the growth of this market. There is a growing popularity of natural extracts in the food and beverage, cosmetics and perfumery industry as there are no adverse side effects of natural extracts when used in pharmaceuticals or nutraceuticals, the market should grow. The health benefits provided by natural extracts have gained a lot of popularity. Increased awareness of the carcinogenic properties of various flavorings such as benzophenone, pyridine, and styrene has resulted in market growth.

Constraints

As there are price variations in the acquisition of raw materials. It happens to be a brake on the growth of the market. Inefficient extraction of these products in low-income economies due to lack of advanced biotechnologies, the market is expected to lag behind.

Opportunities

The development of the agricultural industry is expected to provide growth opportunities for the natural extracts market during the forecast. To meet the growing demand for natural extracts, manufacturers are moving away from artificial flavors to adding natural components to their products. The growing fitness and wellness trend is also expected to increase the demand for natural extracts.

Challenges

Due to a lack of advanced biotechnology and efficient extraction of natural products, the supply chain is inefficient and price sensitive. Efficient extraction of natural products is a major challenge in low-income economies. Another challenge in this market is that the products used for extraction are not entirely organic and there are uses of harmful agrochemicals in production. As there is a demand for certified organic products in many countries, products grown using agrochemicals do not reach these markets.

Recent Ddevelopments

  • Ransom naturals announced in January 2021 that it had entered into a business partnership with Barentz to distribute pharmaceuticals and nutraceuticals.
  • In order to provide a natural, authentic and appetizing cooking flavor for meat substitutes in the various foods of plant origin, Firmenich announced the launch of Dynarome TR in June 2021.
  • Layn Natural Ingredient Corp launched SustaNX in October 2021 which is the newest ingredient. Part of the clean label plantae PRESERVATION series.

Market segmentation

By products

  • Essential oils
    • Turmeric oil
    • Ginger Oil
    • Peppermint Oil
    • Davana Oil
    • cedar wood
    • field mint
    • Eucalyptus
    • Lemon
    • Lime
    • Orange
    • Vetiver
    • tea tree
    • patchouli oil
  • Natural colors
    • Paprika
    • Natural yellow color
    • annatto color
    • Anthocyanin color
  • Oleo-resins
    • Paprika
    • Black pepper
    • Latin
    • Turmeric
    • Ginger
    • Garlic
    • Onion
    • Others
  • Plant extracts
    • Capsaicin
    • 95% curcumin
    • Ashwagandha
    • kale
  • Dried crops
    • Whole dried chili
    • Whole Dried Ginger
    • Dried whole turmeric

By request

  • Personal care and cosmetics
  • food and drinks
  • animal feed
  • Medications
  • Nutraceuticals
  • Others

By origin

By technique

  • Expression
  • Absorption
  • Maceration
  • Distillation

Per end user

  • Cosmetic
  • Pharmaceutical
  • food industries
  • Others

By type

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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