Demand for natural nutritional products grows in 2022, the plant extract market will reach 6.03 billion US dollars

In terms of value, the plant extract market is expected to grow at a compound annual growth rate of 9.0% from 2017 to US $6.03 billion by 2022 Plant extracts are widely used in food and beverage applications because of their functional substances In addition, the growing demand for natural and nutritional products has increased the demand for plant extracts in the food and beverage industry The market of plant extracts can be divided into spices, herbs, tea and flowers Spice extracts are the most widely used because of lifestyle changes and the growing trend to explore and experience new foods Some spices include cinnamon, pepper, cloves, fennel, cumin, cardamom, coriander and tamarind Based on the form, the powdery plant extract segment is estimated to have a major share in 2017 The demand for powdery plant extracts is driven by the wide application of meat, dairy products, bread and candy to stimulate the required aroma and taste It is more stable than liquid plant extracts, and prolongation of shelf life is another major driver of this form By analyzing the market of plant extracts according to the company type, different levels and regions, prospective Industrial Research Institute expects that the food application field will occupy a larger market share in 2017, and its beverage application is expected to grow at a higher compound annual growth rate The food can be divided into bread, candy, sauce and condiment The beverage application part can be divided into alcoholic beverages, carbonated soft drinks, iced tea and flavored dairy products The seasoned dairy segment is expected to grow at the highest CAGR due to consumer demand for seasoned milk and yoghurt It is estimated that in 2017, North America accounted for the largest share of the global plant extract market, both in terms of value and sales volume The growth of this region can be attributed to consumers' preference for defatted and nutritious food, as well as the increasing acceptance of foreign food and taste Consumer awareness of food and beverage consumption, including plant extracts, has the benefit of not affecting the taste of the product, but also promoting the plant extracts business in the region The supply of alternative products in the form of synthetic flavors is a major constraint to the market; this is mainly due to the advantages related to synthetic flavors, such as the lower price compared with spices and herbs, and the uniform, consistent and easy-to-use quality compared with natural products In 2023, the market scale of plant extracts, and the leading enterprises of futuristic Industries Ltd (Israel), D? Hlergmbh (Germany) and kalsec Inc (United States) that lead the market of plant extracts Key players have been exploring new areas of the market through acquisitions, expansion and partnerships as their preferred strategies They have been investing in deep R & D activities, expansion and acquisition as a model to increase product variety and market share, thus increasing the demand for plant extracts.