The global natural extracts market for natural extracts is witnessing substantial growth from the past few years. The benefits which the natural extracts provide and the rise in application are the factors that lead toward the growth of the market.
Substances that are obtained or drawn out by different processes from the raw material are known as extracts. While, natural extracts are those extracts that get extracted from natural sources like fruits, plants, and vegetables. Natural extracts are very healthy for the body and have various functionalities like they can be used as colorants, flavors, medicines, anti-infecting, edible oils, and many other such uses. Also, natural extracts have several applications in various industries like cosmetics, food & beverages, and pharmaceutical. Out of these, pharmaceutical and food & beverage industries are the largest customers of the global plant extract market.
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The COVID-19 outbreak is likely to have a positive impact on the natural extract market.
This market is anticipated to witness an upward surge as people are demanding more for immunity-boosting supplements, during the pandemic situation.
Furthermore, a decline in the meat, poultry, and seafood product, makes the customer shift toward plant-based products.
However, meeting the demand has become a major concern for the natural extract manufacturers, because of the current lockdown situation.
Disruption in the supply chain and halt on import-export activities has become a major concern for the natural extract market, during the COVID-19 pandemic.
Although due to the medicinal properties, a lot of experimentation is being conducted on natural extracts, to find the cure for Corona Virus.
Top Impacting Factors:Market Scenario Analysis, Trends, Drivers and Impact Analysis
When compared with synthetic products, consumers view natural products as a healthier alternative. With this, growing awareness about the side effects of synthetic food products drives the global natural extract market. Natural extracts have medicinal value and many health benefiting properties, like wound healing, antidiarrheal, antioxidant, antimicrobial, and anti-cancerous properties. These properties fuel the growth of the natural extract market.
However, the unavailability of raw material and high price fluctuations in the raw material hinder the global market growth for natural extracts. Also, there has been a lot of cases regarding adulteration in natural extracts through various means. Such conducts have affected the reputation for the natural extract industry, thereby hampering the market growth globally.
Although rise in research & development activities in the natural extract industry, increase in demand for organic food, surge in demand for dietary food supplements are expected to propel the growth of the global natural extract market. Along with this, the development of the pharmaceutical industry and the adoption of Homeopathy & Ayurveda create several lucrative opportunities for this market. The growing vegan population has also strengthened the growth of the plant extract market, globally.
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Questions Answered in the Natural Extracts Market Research Report:
What are the leading market players active in the natural extractsmarket?
What current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
Companies covered: Venkatesh Naturals, Bioveda Naturals, ADM Wild Europe GmbH & Co.KG, Green Natural Extracts., NPE, Pioneer Enterprise., Provital Group, Bhoomi Naturals., Shreedha Phyto Extracts, Bio Botanica, Inc., Asean Aromatics Pvt. Ltd., Star Hi Herbs, Panacea Phytoextracts Pvt. Ltd., HDDES Group, Phyto Life Sciences P. Ltd., HimPharm.com., Natural Extracts Industries Ltd, Martin Bauer Group, Xi'an Lanyor Biotech Co. Ltd.