Europe Plant Extracts Market is estimated to be 3.69 billion USD by 2024, The market is expected to reach 6.11 billion by 2029, growing at a CAGR of 10.64 % during the forecast period of 2024 to 2029.
A plant extract is a substance with desirable properties extracted from plant tissue using a solvent and then used for a specific purpose. The most commonly used solvents are water, ethanol, ethyl acetate, CO2, methanol, acetone, acetic acid, and hexane. Extracts can be used as antioxidants, preservatives, and other additives in a variety of foods. Plant extracts are used in the pharmaceutical industry as processing aids and additives for therapeutic properties such as prevention and curing. In addition, plant extracts are used as functional properties in cosmetics for beauty and well-being. New medicinal properties have been discovered due to advancements in extraction methods, and the set of active molecules in the plant is being preserved. Plant extracts are considered the most important sources of biomolecules that can be extracted from plant parts. Extraction of such biomolecules from medicinal plants is accomplished using a variety of solvents and extraction methods.
The demand for medicinal products made from plant extracts in Europe is increasing globally; buyer value European products for their high quality and purity, particularly those produced by German and Swiss companies. This is driving up demand for pharmaceutical ingredients in Europe; as a result, increasing demand for the Europe plant extracts market. Furthermore, plant extracts are becoming more important food additives due to their high concentrations of bioactive compounds such as polyphenols and carotenoids, which have antimicrobial and antioxidant activity, particularly against oxidative changes in low-density lipoprotein (LDL) and deoxyribonucleic acid (DNA). In addition, The European plant extract market is expected to grow due to rising demand for plant extracts in the food and beverage, pharmaceutical, and cosmetics industries. Plant extracts, for instance, are widely used in the food and beverage industries as colorants and flavourings to improve overall nutritional content. In addition, rising demand for functional foods and beverages such as protein bars, dietary supplements, and flavoured beverages is expected to drive the Europe plant extract market forward.
Furthermore, technological intervention throughout the supply chain aids the plant's business in its growth. Bioactive extraction is seeing rapid technological adoption. Furthermore, "green technologies" are being implemented to result in significant long-term measures. For example, polar-nonpolar-sandwiching (PNS) technology was used to extract a variety of bioactives from turmeric root extract, including curcuminoid, polyphenols, protein, fiber, and essential oils. Ultrasound-assisted extraction (UAE) is a green bioactive extraction technology. These are some factors driving the growth of the Europe plant extracts market.
Some factors may hinder the growth of the Europe plant extract market. Some plant species have become extinct due to forest degradation and species extinction. Furthermore, supply is limited because these medicinal plants are only grown in a few countries. These plants only produce once a year and have a limited supply, so a supply and demand imbalance exists. It also affects the cost of raw materials, and the additional storage cost makes it costly. The final product’s price fluctuations are also a degrading factor for market growth. Supply bottlenecks, increased demand in the countries of origin, and unpredictable weather are challenging factors for the market's key players. Crop failures and shortages have resulted from a lack of harvest workers, a slowdown in production, and port closures due to the lockdown. All these attributes hamper the shares of the Europe plant extracts market.
This Research Report On Europe Plant Extracts Market is segmented and sub segmented into following categories:
Europe Plant Extracts Market By Product Types:
Based on product types, the Europe plant extract market is segmented by Essential Oils, Oleoresins, Herbal Extracts, Natural Colours, and Dried Crops; the essential oils segment is the fastest-growing segment and is expected to grow at the fastest CAGR over the forecast period.
Europe Plant Extracts Market By Application:
On the basis of application types, the Europe plant extract market is segmented by personal care & cosmetics, food & beverages, pharmaceuticals, and dietary supplements, in which the personal care and cosmetics segment is expected to grow during the forecast period as post-covid people become more aware of using plant-based products and gradually understand the importance of plant extract products.
Europe Plant Extracts Market By Form:
On the basis of form types, the plant extract market is segmented by powder and liquid, in which powder leads the market. Still, the liquid form is expected to grow significantly during the forecast period as it is more widely used in essential oils and liquid syrup.
Europe Plant Extraction Market By Methods:
Based on the method of the plant, extracts are categorized into maceration, infusion, decoction, percolation, Soxhlet, ultrasound-assisted extraction, supercritical fluid extraction, Photonics Process, Microwave Assisted Extraction, and Others. Solvent extraction is the most common method. The extraction of natural products is carried out as follows: first, the solvent penetrates the solid matrix; then, the solute dissolves in the solvents; finally, the extracted solutes are collected.
Europe Plant Extraction Market By Country:
Demand for essential oils and floral extracts has increased in developed countries with high consumer living standards in recent years, which is expected to drive the German plant extracts market. Aromatherapy is the serious application of essential oils in Europe. The major markets for herbal or plant medicine that can be used for therapeutic purposes are Portugal, Austria, Germany, and Switzerland. The growing prevalence of aromatherapy is likely to propel market demand in Germany and Switzerland.
KEY MARKET PLAYERS:
Key Players of Europe Plant Extracts Market are Experis, Van Eeghen Functional Ingredients (Netherlands), Duart Pharma (Netherlands), Ronik Oil-Field Ltd (Netherlands),Martin Bauer GmbH & Co KG (Germany), Lycored (U.K.), Symrise (Germany), Givaudan (Switzerland), DSM (Netherlands), Döhler (Germany), Kerry Group Plc (Ireland).
Frequently Asked Questions
Quality control and standardization: Ensuring consistency and quality across different batches of plant extracts can be challenging due to variations in plant sources, extraction methods, and processing conditions.
The demand for medicinal products made from plant extracts in Europe is increasing globally; buyer value European products for their high quality and purity, particularly those produced by German and Swiss companies. This is driving up demand for pharmaceutical ingredients in Europe. This is a major factor driving the pharmaceutical industry and, as a result, increasing demand for plant extracts in Europe.
In 2022, Kerry, the world's leading taste and Nutrition Company announced the completion of its acquisition of Natreon, Inc., a leading supplier of branded Ayurvedic botanical ingredients based in the United States. Natreon provides branded, scientifically studied, and tested Ayurvedic extracts to the global dietary supplement and functional food and beverage industries.
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