The global plant extracts market size was US$ 30.9 billion in 2021. The global plant extracts market is forecast to grow to US$ 69.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030. 
Plants extracts are widely recognized for their healing capacity. Thus, they are widely used in medical applications. Further, various exotic plants find applications in aromatic treatments.

Factors Influencing the Market
Rising demand for aroma therapies and the increasing prevalence of diseases will fuel the growth of the global plant extracts market. Further, rising awareness about the negative impacts of artificial chemicals will fuel the demand for natural treatments in the coming years. As a result, it will boost the growth of the global plant extracts market during the forecast period. 
Plant extracts are widely used as natural flavouring agents, sweeteners, and preservatives in the goods & beverage industry. This sector is gaining wide traction due to changing consumer habits. As a result, it will fuel the growth of the global plant extracts market during the study period. 
Growing R&D activities to prompt the use of natural products, combined with the Food and Drug Administration (FDA) bans on the use of synthetic colouring, will benefit the global plant extracts market during the study period. 
Plant extracts also find a wide range of applications in the healthcare sector due to their outstanding therapeutic capabilities. However, the high cost associated with plant extracts may limit the growth of the overall market.

Regional Analysis
Europe is forecast to dominate the plant extracts market due to rising awareness about the benefits of herbal remedies. In addition, the rapidly growing cosmetics and personal care sector in the region will contribute to the growth of the plant extracts market. Further, the rising medical industry in the region will also escalate the growth of the global plant extract market during the study period. 
The Asia-Pacific plant extracts market will also register a significant growth rate due to the rising demand for plant-based products in the region. In addition to that, increasing demand for natural plant-based cosmetic products will also contribute to the growth of the market.

COVID-19 Impact Analysis
The medical industry witnessed substantial growth due to the COVID-19 outbreak. Moreover, demand for natural plant-based remedies increased across various countries, which significantly contributed to the growth of the global plant extract market. Further, according to guidelines introduced by WHO, it was essential to consume immunity-boosting food products. As a result, it has been opportunistic for the plant extract market.

Competitors in the Market
• JiaHerb
• Schwabe
• Provital Group
• Naturex
• Ipsen
• Bioforce
• Chenguang Biotech
• Euromed
• Avoca (Pharahchem)
• Sabinsa
• Tsumura&Co
• Rainbow
• Comba Group
• BGG 
• Other Prominent Players

Market Segmentation
The global plant extracts market segmentation focuses on Type, Application, sources, and Region. 
By Type
• Phytomedicines & herbal extracts
• Essential oils
• Spices
• Flavors & fragrances
By Application
• Pharmaceutical & dietary supplements
• Food & beverage
• Cosmetics
• Others
By Sources
• Fruits, flowers, and bulbs
• Leaves
• Barks & stems
• Rhizomes & roots
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America