Trends in the Global Plant Extracts Market
Globally, high-quality plant extracts are essential for effective and natural scenting and flavoring across various industries and applications, including food and beverages, pharmaceuticals, cosmetics, and dietary supplements. Extracts include essential oils, flavonoids, alkaloids, carotenoids, oleoresins, and more, available in various forms, including soft, liquid, and solid extracts, to accommodate different flavor or aroma needs.
Producers source these molecules from fruits, vegetables, herbs, and spices, from flowers, bulbs, leaves, fruits, stems, barks, roots, and rhizomes. Materials are typically extracted in season to enhance flavor, using processes developed to maximize extract amounts and intensity.
With consumer needs and demands highly dynamic in response to environmental, climate, and health concerns and pandemic-spurred supply chain challenges, producers and manufacturers must remain vigilant regarding global plant liquid and solid extracts trends.
Global Plant Extract Trends
The plant extract market is anticipated to grow at a CAGR of 8.5% to reach $35.18 billion by 20261, propelled by Asia Pacific, emerging markets and the millennial segment. According to the Plant-Based Foods Association (PBFA), plant-based eating is also increasing, which cites a 6.2% 2021 growth in US plant-based retail food sales.
In addition, extraction technology advances enable more efficient operations and production, facilitating expanded product portfolios, superior packaging and design, and improved sales monitoring.
Simultaneously, strict, albeit varying, regulations worldwide, unpredictable material costs, and consistently higher inflation represent key market obstacles.
Notably, the Covid-19 pandemic catalyzed numerous consumer and industry shifts, including:
- Increased demand for healthy and functional immune-boosting foods and beverages.
- A move towards plant-based, cleaner-label food, beverages, spreads, and snacks, with sustainable vegan, organic, bio-based, and ready-to-eat highlighted as top-sales contributors.
- Producers seeking more natural sweetening options, substituting sugar with low-intensity beet sugar and sucrose and higher-intensity extracts such as licorice, sweet tea glycosides, steviol glycosides, and neohesperidin dihydrochalcone.
- An emphasis on botanicals, especially in beverages and snacks. Consumers champion natural botanical extracts, including super flower hibiscus, rose, mint, dill, lavender, thyme, coriander, blossom, lemongrass, nettle, jasmine, and African superfoods such as baobab and cactinea. Trending in taste are relaxing flavors such as hawthorn and chamomile, vitamin-C-rich and fruity acai berry, acerola, and camu-camu, and health-promoting and vibrantly colored favorites turmeric and matcha.
- Nutraceuticals for functional products, including cocoa, saffron, echinacea, feverfew, garlic, ginger, ginkgo Biloba, ginseng, saw palmetto, and St. John’s Wort, the classic adaptogen ashwagandha and joint support extracts such as Terminalia Chebula.
- Sober-curious consumers seeking a “kick” but without the buzz. Natural ingredients help provide a healthier hit with caffeine paired with citrus, ginger, cinnamon, pepper, and other spices, and cooling mint and peppermint providing heat, throat-catch, and cooling.
- Botanicals creating premium pricing opportunities, with Innova Market Insights suggesting up to a possible 23% premium, particularly for first-rate cinnamon, honey, mint2, saffron, and bergamot flavors.
- Plant extract manufacturers leveraging key strengths and strategies through critical mergers and acquisitions. For example, Switzerland-based Givaudan acquired French-based Albert Vielle in 2019, adding plant-based fragrance naturals capability to their repertoire.
- Plant extraction technology and technique advances; for example, Firmenich introduced a proprietary, revolutionary innovation in 2021, launching Firgood ingredients based on sustainable, low energy, and solvent-free technology relying on electromagnetically warmed water and odorant components for purer extracts.
- Plant extract producers increasingly relying on the Internet of Things technologies, including blockchain, to manage procurement, processing, and distribution.
However, even with plant extraction advances and innovation, it remains vital to incorporate high-quality liquid and solid extracts and accurate flavor or aroma ratios; consistency is critical for successful fragrance and taste profiles.
So, choose reliable ingredient molecules from trusted providers, such as Advanced Biotech.
Advanced Biotech: Your First Choice for Quality Plant Extracts
Advanced Biotech’s comprehensive range of natural, 100% pure, and plant-based extracts are EU-certified and produced using greener, more sustainable, and tech-forward equipment and processes.
Whether you need essential oils or oleoresins, hibiscus flower or vanilla extract, rely on Advanced Biotech for the best botanicals and other plant-based liquid or solid extracts. Please contact us for more information.