The Herbal extract market is
centered around extracts derived from medicinal plants and herbs that are used
as therapeutic ingredients in pharmaceuticals, nutraceuticals, food and
beverages, and cosmetic products. Main advantages of herbal extracts include
safety, efficacy due to presence of multiple bioactive compounds, lack of
adverse side effects, and cost-effectiveness. Rising awareness about preventive
healthcare and inclination towards herbal products with presumed fewer side
effects have been driving greater demand for herbal extracts.
The Global Herbal Extract Market is
estimated to be valued at US$ 41.8 Bn in 2024 and is expected to exhibit a CAGR
of 7.0% over the forecast period 2024 to 2031.
Key TakeawaysKey players operating in the herbal extract are Botanic Healthcare, VIDYA HERBS
Pvt. Ltd, Allicin Pharm, HerbalHills, Acara bioherb PVt. LTD., Pioneer
Enterprises (I) Private Limited, Sydler India Pvt. Ltd, Herbal Creations,
Alpspure Lifesciences Private Limited, IDOBIO CO., LTD., Döhler GMB,
MartinBauer. Growing consumer preference for herbal ingredients is fueling
demand for herbal extracts from nutraceutical, food and beverage,
pharmaceutical and cosmetic industries. Significant expansion of herbal
extracts market is expected in Asia Pacific region owing to availability of raw
materials, traditional use of herbal medicines, and emerging economies.
Market key Trends
One of the major trends in the Herbal
Extract Market Trends is renewed consumer interest in natural products.
Factors such as growing health and wellness trend, perceived safety of natural
ingredients, and rising consumer spending on healthy products have been driving
increased demand for herbal extracts in various industries. Growing popularity
of traditional Chinese medicine and Ayurveda globally has also contributed to
the naturalization trend in the healthcare industry, benefiting the herbal
extract market. Furthermore, innovations in herbal extract technology aimed at
improving extraction efficiency, standardization, and stability of active
ingredients are expected to present new opportunities for market participants.
Porter's Analysis
Threat of new entrants: Herbal extract market requires high capital investment
and R&D which creates barriers for new players. Bargaining power of buyers:
Large buyers can negotiate lower prices and demand high quality products.
Bargaining power of suppliers: Due to availability of substitute raw materials,
suppliers have moderate bargaining power. Threat of new substitutes: With
advancements, new extraction technologies pose threat of new substitutes.
Competitive rivalry: Market is dominated by few large established players.
The Herbal
Extract Market Size And Trends in Asia Pacific region is valued at US$
12.9 Bn in 2024, accounting for over 30% of the global market share. The region
is densely populated with a rich variety of medicinal herbs contributing
significantly to overall demand.
North America region is forecast to grow at a CAGR of 8.2% during 2024-2031,
fastest among all regions. Increasing consumer shift towards herbal dietary
supplements and nutraceuticals as a preventive healthcare approach is
propelling market growth. Rising popularity of Ayurveda and traditional Chinese
medicines is also fueling demand.
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Insights On, Herbal
Extract Market
About Author:
Ravina Pandya, Content Writer, has a strong
foothold in the market research industry. She specializes in writing
well-researched articles from different industries, including food and
beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191
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