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Plant Extracts Market Analysis

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Rohan Deep
Plant Extracts Market Analysis

Plant extracts contain therapeutic agents, which are widely used in the pharmaceutical segment across the globe. Increasing costs of conventional allopathic medicines and associated side effects such as nausea, vomiting, and diarrhea due to pain killers are driving growth of the market for herbal medicines. Moreover, rising adoption of preventative medicines and increasing awareness towards health benefits associated with herbal medicines are fueling growth of the market. According to the World Health Organization, the demand for herbal medicines from plant extracts is expected to reach US$ 5 trillion by 2050. Growing trend of self-medication and increasing adoption of herbal products in self-care medication is expected to drive growth of the plant extracts market.


Market Dynamics


Europe is projected to hold a dominant position in the global plant extracts market, followed by Asia Pacific and North America over the forecast period. The growth of the market in Europe is driven by the increasing demand for plant-based ingredients in cosmetics coupled with the rising trend of natural cosmetics.


Growing demand for plant extracts in the food and beverages, pharmaceuticals, and cosmetics industries is expected to drive growth of the global plant extract market. For instance, plant extracts are widely used in the food and beverages industry as colorants and flavorants to enhance the overall nutritional content. Increasing demand for functional foods and beverages such as protein bars, dietary supplements, and flavored beverages is also expected to fuel growth of the plant extracts market.

Plant extracts are used in the cosmetic industry for application in perfumes, and skin care and hair care products. These extracts are used in skin care products for curing eczema, acne, dryness, free-radical scavenging, anti-inflammatory, and anti-aging. While, in hair care products, they are used as growth stimulants, colorants, and as anti-dandruff agents. Rising trend of using cosmetics with natural extracts is further expected to drive the demand for plant extracts.


Get More Detail: https://chemicalindustryresearchcmi.blogspot.com/2022/12/plant-extracts-market-analysis.html

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