Views: 0 Author: Site Editor Publish Time: 2024-03-31 Origin: Site
The development of the global plant extract industry can be divided into four stages, before the 1890s is divided into the pre-development period, some European countries began to produce and apply plant extracts as early as the early 19th century, but at that time was in the nascent stage, not formed the industrialization; 1990-2000 is divided into the early stage of development;
2000-2010 is the integration of the development period, mainly with paclitaxel, funeral acid, cyanidin The rapid development of natural pigments, natural sweeteners and other products as representatives, and the integration of pigments, sweeteners andessential oils as ”plant extracts”; 2010 to the present is the development period of regulation, FSMA regulations promulgated, the U.S. food safety regulatory requirements tightened, the global plant extract industry entered the standardization and adjustment of the development stage.
In terms of the distribution of global plant extracts suppliers, China and the U.S. are the leading countries in the global plant extracts industry, with a large number of plant extracts giant companies based in China and the U.S. and providing plant extracts to the world, such as Borealis Bio, Kanglong Bio, Huakang Bio, and Farmer Chemical Laboratories. In addition to China and the U.S., Canada, Germany, France, Italy, India, Japan and other countries also have relatively well-known companies in the international plant extract industry.
In recent years, as people’s health awareness increases, the pursuit of natural and green has gradually become a new trend, which has to a certain extent promoted the development of the plant extract industry. According to Markets and Markets, the global botanical extracts market size rises from USD 23.7 billion in 2019 to USD 34.4 billion by 2022.
In the future, pharmaceuticals and dietary supplements segment is expected to be the largest application area in the downstream market; Asia-Pacific market demand will continue to grow and become the most robust region in the global botanical extracts market demand.
With the rising health awareness, consumer demand for natural and healthy plant extract products will continue to expand, driving industry growth. Foresight estimates that the global botanical extracts market will reach USD 69 billion by 2028, based on the industry growth rate over the years.
