Herbal Extract Market is driven by growing demand for natural ingredients
The herbal extract market involves the extraction and processing of medicinal plant parts such as roots, bark, leaves, and seeds to manufacture herbal extracts. The most common method of extraction is solvent extraction where plant parts are soaked in solvents such as water, alcohol, or glycerin to obtain herbal extracts. These extracts find application in various industries like pharmaceutical, food and beverages, cosmetics and personal care owing to their enriched medicinal properties and natural attributes. The growing preference for herbal-based products and natural ingredients can be attributed to rising health awareness regarding side-effects of synthetic chemicals.
The Global Herbal Extract Market is estimated to be valued at US$ 41.8 BN in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Herbal Extract market are Botanic Healthcare, VIDYA HERBS Pvt. Ltd, Allicin Pharm, HerbalHills, Acara bioherb PVt. LTD., Pioneer Enterprises (I) Private Limited, Sydler India Pvt. Ltd, Herbal Creations, Alpspure Lifesciences Private Limited, IDOBIO CO., LTD., Döhler GMB, MartinBauer. The companies are focusing on expansions, mergers, and new product launches to meet the growing demand for herbal extracts.
The demand for Herbal Extract Market Demand is rising in the pharmaceutical industry due to the growing preference for herbal-based medicines and supplements. Manufacturers are concentrating on research & development activities to utilize herbal extracts in innovative drug formulations. The cosmetic industry is also increasingly utilizing herbal extracts in products owing to their skin-benefitting properties.
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