Fermented Plant Extract Market Size was valued at USD 9.9billion in 2022. The Fermented Plant Extract market industry is projected to grow from USD10.7415 Billion in 2023 to USD 20.6301715 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2023 - 2032). Increased consumer awareness about healthy lifestyles and demand for organics and healthy productsare the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Food flavorings or micro ingredients are added to enhance food flavors, besides assisting in preserving products or helping keep the product stay fresh for a prolonged period. Food flavorings are an integral part of the food & beverages industry as it confers specific sensory properties of taste and smell to processed foods. Food flavorings have a complex formulation and might as well be categorized as natural, synthetic, and nature identical. The FDA standardizes food flavors, and flavor manufacturing companies must comply with the FDA and USDA norms for food production. Increasing attention is being paid to food additives, with growing concerns about their safety and potential health risks. Government initiatives to promote natural ingredients drive the fermented plant extract market CAGR.
Additionally, awareness is being created among consumers concerning the benefits offered by natural ingredients and extracts, and governments of various countries and manufacturers have started taking initiatives. They are investing in R&D. India has an indigenous supply of medicinal and herbal plants and further promotes herbal cultivation. In 2021, the Ministry of AYUSH, Government of India, implemented a Scheme supporting market-driven cultivation of prioritized medicinal plants in identified clusters/zones. Ministry of AYUSH is supporting the cultivation of medicinal plants on farmer's land throughout the country by providing subsidies for 140 medicinal plants at 30%, 50%, and 75% of the cost of its cultivation, depending upon the status of availability and market demand as per operational guidelines of the Scheme. The urban population is becoming health-conscious, resulting in a spike in Forbes 2023. Thus,these factors are driving the Fermented Plant Extract market revenue.
Based on products, the Fermented Plant Extract market segmentation includes soybean, comfrey, garlic, seaweed, nettles, carrot, and dandelion. The seaweed segment dominated the market due to the increasing demand for natural and organic products in various industries such as food and beverage, pharmaceuticals, and cosmetics. Seaweed extract is rich in vitamins, minerals, and amino acids, making it a popular ingredient in skincare and haircare products.
Based on form, the Fermented Plant Extract market segmentation includes liquid, powder, and others. The liquid segment dominated the market due to the ease of use and higher absorption rate of liquid fermented plant extracts than other forms, such as powders. Moreover, liquid extracts can be easily added to various products, such as personal care products and beverages.
Figure1: Fermented Plant Extract Market, by Form, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Application, the Fermented Plant Extract market segmentation includes food and beverages, pharmaceuticals, fertilizers, animal feed, and others. The food and beverages category generated the most income. This is due to the increasing demand for natural and organic ingredients in the food and beverage industry and the wide range of health benefits associated with fermented plant extracts. Fermented plant extracts are also used in various food products as natural preservatives and flavor enhancers.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Fermented Plant Extract market will dominate due to consumers gaining AwarenessAwareness about healthy lifestyles, and demand for organics and healthy products will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: FERMENTED PLANT EXTRACT MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Fermented Plant Extract market accounts for the second-largest market share due to the consumer preference for innovation and organic products. The government also encourages the growth of organic technology in this Region. Further, the GermanFermented Plant Extract marketheld the largest market share, and the UK Fermented Plant Extract market was the fastest-growing market in the European Region.
The Asia-Pacific Fermented Plant Extract Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due tothe main occupation and the farmer's unable to afford chemical fertilizers.Moreover, China’sFermented Plant Extract market held the largest market share, and the IndianFermented Plant Extract market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the fermented plant extract market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The fermented plant extract industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Fermented Plant Extract industry to benefit clients and increase the market sector. The Fermented Plant Extract industry has offered some of the most significant medical advantages in recent years. Major players in the Fermented Plant Extract market, including ID Bio (France), Chengdu PRF Medication Research Co., Ltd (China), Xi'an Hao-Xuan Bio-Tech Co., Ltd (China), Xian Sost Biological Science & Technology Co., Ltd (China), Phytoneering Extract Solutions GmbH (Germany), Honson Pharmatech Group Ltd (Canada), and Ecuadorian Rainforest, Llc (U.S.)., and others, are attempting to increase market demand by investing in research and development operations.
Symrise develops, produces, and sells fragrance, flavoring, food ingredients, active cosmetic ingredients, raw materials, and functional ingredients and solutions that enhance the sensory properties and nutrition of various products. With a market share of 10 % (2021), Symrise is one of the world's top suppliers in the F&F market. The company's approximately 34,000 products are mainly based on natural raw materials like vanilla, citrus fruits, onions, and plant materials. Its flavors, substances, perfume oils, and sensory solutions are often central functional components for its customers' end products. These customers include perfumes, cosmetics, food manufacturers, the pharmaceutical industry, producers of nutritional supplements, and baby food. Symrise introduced Maison Lautier in 1795 (fragrance), a natural brand, and its first three product lines. The emphasis is on artisan, sustainably grown Mediterranean flowers and plants. This adds to the company's scent product portfolio.
Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American firm founded in 1845 that has been inventing, manufacturing, and distributing a wide range of products.
International Flavors & Fragrances is an American corporation that produces flavors, fragrances, and cosmetic actives, which it markets globally. It is headquartered in New York City and has creative, sales, and manufacturing facilities in 44 countries. The company is a member of the S&P 500 Index.International Flavors & Fragrances Inc. DuPont's N&B has merged with IFF, which supplies binders, plant-based proteins, and restaurants, increasing the revenue exponentially and broadening the customer base for sustainable growth.
Fermented Plant Extract Industry Developments
ID bio: presented a new range of fermented plant extracts aimed at improving particular health issues like digestion, immunity, and mental clarity. Increased the size of its production capability to keep up with demand.
November 2021: Sensient debuted Boundless and introduced a line of chili-based extracts in its flavors & extracts segment. Boundless offers a variety of chili profiles, including Ancho Chili, Chipotle Chili, Green Jalapeno, Habanero Chili, and Red Jalapeno. This will help the company meet the growing demand for new flavors.
February 2021: International Flavors & Fragrances Inc. DuPont's N&B has merged with IFF, which supplies binders, plant-based proteins, and restaurants which has increased the revenue exponentially and broadened the customer base for sustainable growth.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 9.9 billion |
| Market Size 2023 | USD 10.7415 billion |
| Market Size2032 | USD 20.6301715billion |
| Compound Annual Growth Rate (CAGR) | 8.50%(2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Form, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â D bio (France), Chengdu PRF Medication Research Co., Ltd (China), Xi'an Hao-Xuan Bio-Tech Co., Ltd (China), Xian Sost Biological Science & Technology Co., Ltd (China), Phytoneering Extract Solutions GmbH (Germany), Honson Pharmatech Group Ltd (Canada), and Ecuadorian Rainforest, Llc (U.S.). |
| Key Market Opportunities | Low cost of the fermented plant extracts, the Inclination of the customers to adopt low-cost plant extracts is higher. |
| Key Market Dynamics | Consumers are gaining AwarenessAwareness about healthy lifestyles, Demand for organics and healthy products, and Demand from the personal care industry |
Fermented Plant Extract Market Highlights:
Frequently Asked Questions (FAQ) :
The Fermented Plant Extract market size was valued at USD 9.9 Billion in 2022.
The market is projected to grow at a CAGR of 8.50% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are D Bio (France), Chengdu PRF Medication Research Co., Ltd (China), Xi'an Hao-Xuan Bio-Tech Co., Ltd (China), Xian Sost Biological Science & Technology Co., Ltd (China), Phytoneering Extract Solutions GmbH (Germany).
The Liquid Fermented Plant Extract category dominated the market in 2022.
Food and Beverages had the largest share of the market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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