DUBLIN, Nov. 25, 2022 /PRNewswire/ — The “Plant Extracts Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global plant extracts market is expected to grow from $22.67 billion in 2021 to $25.35 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The plant extract market is expected to grow to $35.18 billion in 2026 at a CAGR of 8.5%.
The main types of plant extracts are spices, essential oils and natural extracts, flavors and fragrance, phytomedicines and herbal extracts, phytochemicals and others. health benefits beyond basic nutrition to reduce the risk of major chronic diseases. The different sources include fruits, flowers, and bulbs, leaves, barks and stems, rhizomes and roots, and others. The various applications involved are pharmaceuticals, food, and cosmetics , and others.
Asia Pacific was the largest region in the plant extracts market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid growth in the vegan trend is significantly contributing to the growth of the plant extract market. A vegan refers to a person who doesn’t consume animal …