As per Zion Market Research study, The global Natural Extracts Market size was nearly $11.95 billion in 2021 and is set to increase to about $26 billion by 2030 with a CAGR of nearly 9.1% between 2022 and 2030.
Natural Extracts Market: Overview
Natural extracts are ingredients extracted from natural sources such as plants, vegetables, meat, seafood, grains, and fruits. Furthermore, these extracts offer key benefits such as better health for consumers and improved beauty of the people. In addition, these products are utilized in various flavors and edible oil colorants.
Moreover, they find major applications in personal care & cosmetics items, food & beverages, and pharmaceuticals. Apart from this, natural sourcing of ingredients is gaining popularity among key product manufacturers. For the record, there is a growing penetration of natural extracts in fragrances, spices, and essential oils. These products are healthy as it contains a huge proportion of vitamins, carbohydrates, and minerals as their constituents.
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Key Industry Insights & Findings of the Natural Extracts Market Reports:
- As per the analysis shared by our research analyst, the global natural extracts market is projected to expand annually at the annual growth rate of around 9.1% over the forecast timespan (2022-2030)
- In terms of revenue, the global natural extracts market was evaluated at nearly $11.95 billion in 2021 and is anticipated to hit $26 billion by 2030
- The global market is anticipated to surge at a remarkable rate over the forecast period due to escalating customer disposable income, the thriving farming sector, and a rise in imports & exports
- Based on product, the dried crops segment contributed to a major market share in 2021
- In terms of application, the food and beverage segment to contribute lucratively towards the overall market size during the assessment timeframe
- Based on region, the European region is predicted to be a key revenue generator for the global market over the projected timeframe
Zion Market Research published the latest report titled “Natural Extracts Market By Product (Herbal Extracts, Essential Oils, Natural Colors, Oleoresins, and Dried Crops), By Application (Personal Care & Cosmetics, Food & Beverages, Animal Feed, Pharmaceuticals, Nutraceuticals, and Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030.” into their research database.
Natural Extracts Market: Growth Drivers
- The thriving farming sector & surge in consumer disposable income spur global market growth.
Escalating customer disposable income, thriving farming sector, and rise in imports & exports will contribute lucratively towards the growth of the global natural extracts market. The massive use of natural extracts in perfumes, personal care products, cosmetics, foods, beverages, and pharmaceuticals will expedite global business trends. Changing lifestyles, breakthroughs in biotech, and surging customer awareness about the benefits of natural extracts will increase the scope of growth of the global industry. In addition, various food businesses are shifting from the use of artificial flavors to adding natural components to their food products. This has resulted in surging demand for products, thereby boosting market expansion.
Natural Extracts Market: Restraints
- Fluctuations in raw material costs can impede global market expansion.
Oscillation in raw material costs and disruptions in the supply chain and distribution network are some of the factors that are likely to hinder the growth of the global natural extracts market.
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Natural Extracts Market: Opportunities
- Flourishing the agriculture sector to open new facades of growth for the global market.
The thriving agriculture sector is anticipated to offer new growth avenues for the global natural extracts industry over the years ahead. The growing inclination of consumers toward natural food flavors will create new opportunities for growth for the global market.
Natural Extracts Market: Challenges
- Low fund allocation for research on natural extracts has proved to be a major challenge for the global market.
Lack of funding for research activities pertaining to natural extracts and massive extraction of minerals from the core of the earth have posed a challenge to the growth of the global natural extracts market.
Global Natural Extracts Market: Segmentation
- The global natural extracts market is divided into products, applications, and regions.
Based on product, the global natural extracts industry is segmented into natural colors, herbal extracts, oleoresins, essential oils, and dried crops. Moreover, the dried crops segment dominated the global market share in 2021 and is set to continue its global market domination over 2022-2030. The segmental expansion can be credited to the massive demand for dried crops in the food and beverages sector. For instance, turmeric oil, a natural extract from the turmeric plant, is a known product possessing antimicrobial, antibacterial, antifungal, antiparasitic, anti-allergic, and antiviral features. Another example is ginger oil which finds a spectrum of applications in hair care and skin care products.
In terms of application, the global natural extracts market is divided into animal feed, personal care & cosmetics, nutraceuticals, food & beverages, pharmaceuticals, and others. Moreover, the food & beverages segment, which led the growth of the global market in 2021, is expected to sketch a lucrative growth trajectory for the natural extracts industry within the next couple of years. The growth of the segment during 2022-2030 can be credited to the growing preference for natural and less processed food items leading to the immense use of natural extracts in food and beverages. Moreover, the antimicrobial features of natural extracts help them act as food-preserving agents for an elongated timespan, which is anticipated to embellish its demand. This will help the food & beverages segment maintain its hegemony even in the forthcoming years.
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List of Key Players in the Natural Extracts Market:
- Flavex Naturextrakte GmbH
- Robertet Group
- Arjuna Natural Pvt. Ltd.
- Firmenich SA
- India Essential Oils
- Sami Spices
- Synthite Industries Ltd.
- Symrise AG
- Ransom Naturals Ltd.
- A.G. Industries.
Key questions answered in this report:
- What are the growth rate forecast and market size for Natural Extracts Market?
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Market size value in 2021
USD 11.95 Billion
The revenue forecast in 2030
USD 26 Billion
CAGR of almost 9.1% 2022-2030
2016 – 2021
2022 – 2030
By Type, By Application, By Payload, and By Propulsion System
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2030
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil,
Flavex Naturextrakte GmbH, Robertet Group, Arjuna Natural Pvt. Ltd., Firmenich SA, India Essential
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain
- In January 2023, Surya Brasil, a Brazil-based vegan personal care product manufacturer, launched a new kind of the Henna Cream range and expanded its product line in India. The strategic move will boost the expansion of the natural extracts industry in India and the Asia-Pacific region
- In June 2020, Symrise Ag, a key manufacturer of flavors and fragrances, joined hands with CRIEPPAM, a non-profit organization, for aiding a biodiversity research program for lavender farming. This will enhance crop resilience and bio-diversity across the globe and will contribute substantially towards the global natural extracts market proceeds.
- Europe to hold the highest market share during the forecast period.
The European region is slated to lead the global market surge in the next eight years due to the growing use of essential oils in European countries and thriving aromatherapy in the continent. Apart from this, Europe is a major exporter of pharmaceutical products that make use of natural extracts. Moreover, a steep increase in the aging population in Europe has produced humungous demand for pharmaceuticals and nutraceuticals in this region, thereby driving regional market trends.
Global Natural Extracts Market is segmented as follows:
Natural Extracts Market: By Product Outlook (2022-2030)
- Herbal Extracts
- Essential Oils
- Natural Colors
- Dried Crops
Natural Extracts Market: By Application Outlook (2022-2030)
- Personal Care & Cosmetics
- Food & Beverages
- Animal Feed
Natural Extracts Market: By Region Outlook (2022-2030)
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
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SOURCE: Zion Market Research