A plant extract is defined as a substance or an active
ingredient with desirable properties. These extracts are extracted from the
tissue of a plant, usually by treating them with a solvent, such as alcohol or
water. Plant extracts are used as ingredients in food and other consumer
products for various functions such as modifying flavors, aroma, or nutritive
quality.
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These compounds extracted from plants are rich in a large
number of secondary metabolites such as tannins, terpenoids, alkaloids, and
flavonoids; and possess antimicrobial properties against a wide range of
harmful microorganisms. Plants containing beneficial phytochemicals may
supplement the requirements of the human body by acting as natural
antioxidants. Hence, there has been an increasing interest in the antimicrobial
properties of plant-derived products for their potential uses as alternatives
to synthetic preservatives.
Increase of diseases
drives growth
The plant
extracts market is estimated to be valued at USD 23.7 billion in 2019
and is projected to reach USD 59.4 billion by 2025, at a CAGR of 16.5%. The
increasing prevalence of chronic diseases such as skin cancer, rapidly growing
demand for herbal medicines and plant extract-based functional food and food
additives and rise in the trade of plant extracts are some factors driving the
growth of the plant extracts market.
According to the World Health Organization (WHO), in 2001,
chronic diseases contributed to approximately 60% of the 56.5 million total
reported deaths in the world and approximately 46% of the global burden of
diseases. The proportion of the burden of non-communicable diseases (NCDs) is
expected to increase to 57% by 2020. Moreover, according to the National Center
for Chronic Disease Prevention and Health Promotion, in 2012, about 117 million
people in the US had one or more chronic health conditions, and one of four
adults had two or more chronic health conditions. This has increased the
consumption of bioactive compounds from plants, as they do not have any side
effects on the human body, instead providing the body with nutrients and other
useful minerals.
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Leading markets
Countries in North America (US and Canada) and Europe (UK
and Germany) are the leading consumers in the plant extracts market, however,
countries in Asia (China and India) are the leading producers of the same. Asia
is home to a large variety of plants with medicinal and herbal properties, with
India and China leading the league. The region’s rich history of herbal,
ayurvedic, and homeopathic medicines along with the technological advancements
for plant extracts processing has been creating surplus demand for plant-based
healthy and nutritious products and trade globalization.
Key manufacturers in this industry, who understand the
market demand for safe and healthy food and other consumer products, are
investing in the plant extracts market to provide new and innovative plant
extracts-based products. Apart from the various benefits they offer, due to
lack of awareness about the advantages offered by plant extracts in developing
countries and limited regulations for plant extracts usage, the market growth
may get restricted in future.
