Plant Extract Market – By Form, Type, End Use Industry & Forecast, 2024- 2032

Plant Extract Market Size

The global plant extract market was valued at USD 36.7 billion in 2023 and is estimated to grow at a CAGR of over 11.3 % from 2024 to 2032.
 

Plant extracts come from various parts of plants like leaves, roots, flowers, and seeds through extraction processes. These extracts are rich in bioactive compounds and have many uses in various industries.
 

The growing demand for natural ingredients in food and cosmetics drives the plant extract market. Consumers are moving away from synthetic additives and prefer products that match their health-conscious and eco-friendly values. This trend is linked to increased awareness of health and wellness, as people choose clean-label products they believe are safer and better for their well-being.
 

As a result, plant-based extracts are becoming popular in functional foods, supplements, and natural beauty products. Additionally, the expanding herbal medicine market boosts demand, with consumers seeking natural remedies for health issues. This combined demand in food, cosmetics, and herbal medicine sectors is speeding up the growth of the market. Companies are responding to these changing preferences by adding these extracts to a wide range of products.
 

Plant Extract Market Trends

Several key trends are shaping the growth of the plant extract industry. One major trend is the increasing use of plant extracts in nutraceuticals, as consumers seek natural ways to boost immunity and overall health. The rise of vegan and plant-based diets is also driving demand for plant extracts as alternative sources of nutrients, especially in protein supplements and fortified foods.
 

Advancements in extraction technologies, like supercritical CO2 extraction, are improving the quality and purity of plant extracts. This makes them more appealing for high-end uses in pharmaceuticals and personal care. There is also growing interest in regional and indigenous plant extracts, driven by consumers' curiosity about traditional remedies and exotic ingredients. Additionally, the cosmetic industry is increasingly adopting plant extracts with anti-aging, anti-inflammatory, and antioxidant properties, as brands focus on clean beauty products for environmentally conscious customers. These trends continue to diversify the market's landscape.
 

Plant Extract Market Analysis

Environmental factors pose significant challenges to the plant extract industry, particularly in the availability of raw materials. Climate changes, soil conditions, and agricultural yields can lead to an inconsistent supply of essential plant sources. This inconsistency disrupts production schedules and affects product availability. As a result, manufacturers often face increased costs, either by sourcing alternative raw materials or paying higher prices during shortages.
 

Moreover, producing plant-based extracts costs more than making synthetic alternatives. The extraction processes, designed to preserve bioactive compounds, are labour-intensive and need specialized equipment. These higher production costs can hurt the competitiveness of plant extracts, especially in price-sensitive markets where the lower cost and stable supply of synthetic alternatives are more appealing.
 

Based on form, the market is segmented into liquid oil and solid powder. Solid powder form leads in revenue, valued at USD 20.9 billion in 2023. Solid powder extracts are highly popular due to their longer shelf life, ease of storage, and versatility in various applications such as dietary supplements, pharmaceuticals, and functional foods. They are often preferred by manufacturers for their stability and convenient use in product formulations. Additionally, solid powders offer concentrated forms of plant extracts, making them more efficient for transportation and use in different industries. This form's cost-effectiveness and flexibility contribute significantly to its dominant market position.
 

Based on type, the market is segmented into essential oils, oleoresins, flavonoid, alkaloids, carotenoids and others. In 2023, essential oils led the plant extract market, securing 33.8% of the market share. Valued for their versatility, essential oils are widely used in aromatherapy, cosmetics, food, and beverages due to their natural aroma and therapeutic benefits. A growing consumer preference for natural wellness products has increased their demand. Oleoresins, known for providing concentrated flavors and colors, especially in the food sector, also hold importance in this segment. Flavonoids and carotenoids are gaining popularity for their antioxidant properties and are increasingly used in nutraceuticals and skincare. These varied applications highlight the steady growth of the market by type.
 

Based on end use industry, the market is segmented into food and beverages, cosmetics and personal care, pharmaceuticals, nutraceuticals and others. In 2023, the food and beverages segment holds a significant 44.2% share of the market, driven by rising consumer demand for natural and clean-label products. Plant extracts are increasingly replacing synthetic ingredients as natural flavor enhancers, preservatives, and colorants, meeting the preference for healthier and more transparent food choices. Additionally, functional foods and beverages enriched with plant-based extracts—such as antioxidants, adaptogens, and botanicals—are becoming more popular as consumers seek products with added health benefits. This trend is especially strong in the beverage sector, where plant extracts are used in teas, energy drinks, and herbal-infused waters to appeal to health-conscious consumers.
 

In 2023, the U.S. market generated USD 9.8 billion revenue. The U.S. plant extract market is growing quickly due to higher consumer demand for natural and organic products in food, cosmetics, and nutraceuticals. More people are aware of health and wellness trends, leading to increased use of plant-based ingredients, especially in functional foods and dietary supplements. The popularity of clean-label products in the U.S. also boosts the demand for natural plant extracts.
 

In North America, the plant extract market is steadily growing, driven by strong demand in food and beverages, pharmaceuticals, and cosmetics. The region benefits from advancements in extraction technologies, which improve the quality and effectiveness of plant-based ingredients. The growing preference for herbal medicines and natural skincare products is also fueling the market, as consumers move towards holistic health solutions. Regulatory support for natural and organic products further accelerates growth in the region.
 

Plant Extract Market Share

The global plant extract industry is competitive, with major companies like ADM, BASF SE, and Symrise. These companies compete on product differentiation, quality, and innovation. For example, ADM is expanding its natural ingredient portfolio to meet the rising demand for clean-label products. BASF SE focuses on research and development to create high-performance extracts for various applications. Companies also compete on price, emphasizing cost-effective production processes. Distribution is crucial, as a global presence and strong supply chains are essential to meet customer needs across regions. Additionally, companies innovate to provide tailored solutions for specific industries, such as food, beverages, cosmetics, and pharmaceuticals. Customization and technical support are important competitive factors in the market.
 

Plant Extract Market Companies

Major players operating in the plant extract industry are:

• ADM
• Aethon
• BASF SE
• Botanic Healthcare
• Carbery Group
• Dohler
• Kerry
• Martin Bauer
• Symrise
• Truly Essential
• Vidya Herbs    
   

Plant Extract Industry News

• In October 2024, Symrise launched Flowerconcentrole, a range of sustainably sourced olfactive flower extracts aimed at promoting well-being. With antimicrobial properties and the ability to mask unwanted smells, the 100% natural-origin extracts catered to clean beauty expectations. Symrise's Actimood technology enhanced formulations, providing neurocosmetic benefits to consumers while being easy to use in various products.
   
• In May 2024, Swiss company Climeworks launched "Mammoth," the world's largest plant for CO2 extraction in Iceland. This facility aims to combat climate pollution by removing carbon dioxide from the atmosphere, marking a significant advancement in efforts to address global warming.
   

The plant extract market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Form

• Liquid oil
• Solid powder

Market, By Type

• Essential oils
• Oleoresins
• Flavonoid
• Alkaloids
• Carotenoids
• Others (tannins, glycosides, etc.)

Market, By End Use Industry

• Food and beverages
• Cosmetics and personal care
• Pharmaceuticals
• Nutraceuticals
• Others (household, agriculture, etc.)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa