Market overview:

The Herbal Extracts Market is expected to reach USD 55.7 billion by 2030, growing at a 6.3% CAGR between 2022 and 2030. The global herbal extracts market has steadily grown because of the various health benefits and growing awareness about the side effects of using chemical-based products. Even during recessions, demand for herbal products remains high because people want to maintain their health even when treatments are more expensive. Even Herbal Extracts Market products have few side effects, increasing their popularity among the global population. Organic Herbal Extracts are used in various industries to make medicines, beverages, and functional foods. As a result, the growing application of herbal extracts in industries is driving growth in the global market. Furthermore, the Global Natural Herbal Extracts Market is expanding due to growing awareness about herbs' therapeutic properties. Aside from that, rising demand for skin care products containing herbal ingredients and rising demand for herbal medicines are two other growth drivers for the Global Market.

COVID-19 has resulted in a lockdown, shutdown, and social distancing norms, which has impacted the growth of the Global Herbal Extracts Market. The global pandemic has impacted the supply chain, economy, and production. The global market has also lost investors. Researchers are researching various medicinal plant extracts to combat the global COVID-19 pandemic. Furthermore, the Herbal Extracts Manufacturer focuses on the herbal extract products of immunity boosters to combat coronavirus. As a result, the demand for herbal extract products in the nutraceutical and pharmaceutical industries may increase. The growing use of essential herbal oil extracts for therapies such as aromatherapy propels the Global Herbal Extract Market.

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Market segmentation:

The global Herbal Extracts Market is segmented based on form, source and application.

According to the form:

  • Powder

  • Liquid or tinctures 

  • Essential oils 

  • Others

According to the source:

  • Basil

  • Thyme

  • Mint

  • Rosemary

  • Dill

  • Lavender

  • Others

According to the application:

  • Personal care

  • Food and beverages

  • Pharmaceuticals and nutraceuticals

  • Others

Regional analysis:

The Global Herbal Extracts Market is divided into several regions, including Asia-Pacific, North America, Europe, and the rest of the world.

The Asia-Pacific region has emerged as the dominant market, accounting for 39% of the Herbal Extracts Market in 2022. Furthermore, this region's demand for herbal extract products is increasing due to increased herb production and consumption of herbal tea or beverages. As a result, the Asia-Pacific region is expected to drive the most market growth during the review period. Furthermore, the Asia-Pacific region is expected to generate a higher CAGR during the forecast period due to rising demand for ayurvedic beverages and foods, herbal cosmetics, and an increase in the number of cafes in the region. Furthermore, the growing number of Herbal Extract Manufacturers in the United States has aimed to expand the Global Herbal Extract Market.

Recent developments:

  • Manipal Group, an India-based functional food and botanical ingredient supplier, announced opening a new manufacturing facility specializing in producing herbal extracts in 2021. These nutraceutical ingredients are used to make dietary supplements.

  • Vasu Healthcare Pvt Ltd., an Indian herbal company, will launch a new herbal supplement line in June 2021. The product line was marketed as "Vasu Safe Herbs," which aids in the promotion of people's overall health and well-being.

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