Natural Extracts Industry Overview
The global natural extracts market size to be valued at USD 18.95 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period. Factors such as consumer awareness, changing lifestyles, increasing adoption of natural ingredient-based products, and biotechnological advancements are driving the market. Moreover, macroeconomic factors such as growing consumer disposable incomes, R&D, imports and exports, growth of the agriculture industry, aging population, and population growth have positively influenced the demand for natural extracts over the past years. Natural extracts are gaining popularity in various industries, such as food and beverage, cosmetics, perfumery, pharmaceuticals, and nutraceuticals.
Natural extracts have no detrimental side effects unlike most of the chemical-based ingredients used in personal care and cosmetics, pharmaceuticals, and food and beverage products. In addition, the matter of ecological and natural sourcing of ingredients has gained top priority among manufacturers, especially in North America and Europe. Numerous overall health benefits associated with natural extracts are anticipated to drive the product demand in pharmaceutical and nutraceutical applications. These factors are likely to significantly impact the demands for the product in the near future.
Gather more insights about the market drivers, restraints and growth of the Global Natural Extracts Market
The North American region has the second-largest essential oils market, mainly driven by the increasing application in flavors and fragrances, which are used in food items, beverages, and medicinal products. The North American market is characterized by the presence of the food and beverage and pharmaceutical industries as well as other end users of flavors and fragrances. This has benefitted the growth of the essential oils market in the region.
The natural extracts industry faces challenges in terms of the lack of advanced biotechnologies for efficient extraction in low-income economies, supply chain inefficiencies, and price sensitivity. Additionally, awareness regarding organic cultivation and production without the addition of harmful agrochemicals is relatively low in many countries, such as India and China. This factor reduces the opportunities for cultivators and farmers that demand products under certain standards, such as organic-certified products in many European countries.
Browse through Grand View Research's Specialty & Chemicals Industry Related Reports
Flavors And Fragrances Market - The global flavors and fragrances market size was valued at USD 23.35 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030.
Nutraceuticals Market - The global nutraceuticals market size was valued at USD 454.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2030.
Natural Extracts Industry Segmentation
Grand View Research has segmented the global natural extracts market on the basis of product, application, and region:
Natural Extracts Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Essential Oils
- Oleoresins
- Herbal Extracts
- Natural Colors
- Dried Crops
Natural Extracts Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Personal Care & Cosmetics
- Food & Beverage
- Animal Feed
- Pharmaceuticals
- Nutraceuticals
- Others
Natural Extracts Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA (Middle East & Africa)
Market Share Insights:
May 2022: Arjuna Natural launched a post-workout pain reliever. The main purpose of this is to provide customers with a safe and natural herbal remedy that provides instant pain relief.
March 2022: Symrise collaborated with CRIEPPAM for a bio-regeneration project for White Lavender. Symrise's partnership with CRIEPPAM will lead to the next generation of Symrise's White Lavender plants
Key Companies profiled:
Some prominent players in the global Natural Extracts Industry include
- Symrise
- Indesso Aroma
- Kancor
- Synthite Industries Ltd.
- com
- Vidya Herbs
- Plant Lipids
- Ransom Naturals Ltd.
- India Essential Oils
- G. Industries
- Flavex Naturextrakte GmbH
- Arjuna Natural Pvt. Ltd.
- Firmenich SA
- Robertet Group
- Sami Spices
- Falcon
- Blue Sky Botanics
- Naturex
- OmniActive Health Technologies
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