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Apr 21, 2023

Herbal Extract Market to Record 15.53% Y

News provided by 04 Jan, 2022, 03:00 ET Share this article NEW YORK, Jan. 4,

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04 Jan, 2022, 03:00 ET

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NEW YORK, Jan. 4, 2022 /PRNewswire/ -- 31% of the growth will originate from APAC for the herbal extract market. China and India are the key markets for herbal extract in APAC. However, the market growth rate in APAC will be slower than the growth of the market in other regions. The rising consumer awareness of the side effects of allopathic medicines and growing awareness about the medicinal benefits as well as the therapeutic effect of herbal products will facilitate the herbal extract market growth in APAC over the forecast period. The herbal extract market is set to grow by USD 23.40 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 12.18% as per the latest market report by Technavio. Herbal extract market to record 15.53% Y-O-Y growth rate in 2022.

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The herbal extract market covers the following areas:

Herbal Extract Market - Driver

With the increase in the demand for food and beverages that are gluten-free, free from artificial flavors and colors, and free from preservatives, key players in the market are focusing on R&D investments in launching herbal extracts that will cater to the needs of consumers. Additionally, increased consumer awareness about the adverse side effects of synthetic chemicals used in food and beverages has led to a rise in demand for natural ingredients such as herbal extracts. Moreover, several regulations have been imposed by global health organizations and food safety associations to prohibit the use of artificial flavorings in food and beverages and promote the use of naturally extracted counterparts such as herbal extracts. Such regulations that promote the use of herbal ingredients and ban synthetic ingredients from food and beverage products will drive the growth of the herbal extract market.

Herbal Extract Market - Challenge

Vendors in the herbal extract market face the challenge of adhering to the stringent quality standards that are applicable for manufacturing herbal extract products. Herbal products and extracts are prepared from raw materials of herbal origin, which are obtained from various geographical and commercial sources. As a result, it is not possible to ascertain the conditions to which they may have been subjected. Furthermore, the procedures and techniques used in the manufacture and quality control of herbal products often differ from those used for conventional pharmaceutical products, consumer products, and food and beverages. Owing to the complexities involved in the cultivation of naturally grown herbal plants, there are chances for contamination of the herbal extracts with toxic materials.

Herbal Extract Market - Segmentation

The herbal extract market analysis segmentation by application (pharmaceuticals, personal care, and others) and geography (APAC, North America, Europe, MEA, and South America)

Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Companies Mentioned

The herbal extract market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

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Related Reports:Herbal Market -The herbal market has the potential to grow by USD 105.94 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 6.67%. Download a free sample report now!

Botanical Extracts Market -The botanical extracts market has the potential to grow by USD 2.19 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 8.42%. Download a free sample report now!

Herbal Extract Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 12.18%

Market growth 2022-2026

USD 23.40 billion

Market structure

Fragmented

YoY growth (%)

15.53

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 31%

Key consumer countries

China, US, India, Germany, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arjuna Natural Pvt Ltd., Dohler GmbH, Herbochem, Kalsec Inc., Mountain Rose Herbs, Organic Herb Inc., SA Herbal Bioactives LLP, Sabinsa Corp., Synthite Industries Pvt. Ltd., and Vidya Herbs Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio