North America Plant Extracts Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Liquid, Powder, and Paste), Source (Fruits and Vegetables, Herbs and Spices, Flowers, and Others), and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, Personal Care, and Others)
The plant extracts market in North America is expected to grow from US$ 7,878.12 million in 2022 to US$ 11,321.17 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028.
Consumers are highly concerned about their diet. They have been paying attention to ingredients used in processed food products. Herbal and natural products are becoming increasingly popular, owing to their perceived health benefits. Moreover, consumers increasingly prefer food and beverage products that are free of synthetic flavors, colors, and other ingredients. They are willing to pay high prices for these ingredients. There is an increasing consumer awareness related to the adverse health effects of consuming synthetic ingredients. Therefore, the demand for natural ingredients is rising in the food & beverage industry. In addition, the use of various artificial flavorings in food and beverages is prohibited by several health organizations and food safety associations. For instance, on October 5, 2018, the US Food and Drug Administration (FDA) banned seven artificial flavors that have been linked to cancer. The FDA had advised using naturally extracted alternatives of flavors prohibited since they are a safer option. The FDA prohibited eight artificial flavorings that were included in ice cream, baked goods, confectionery, and beverages. These ingredients used in flavorings have been known to cause cancer in humans. Owing to all these factors, people are becoming inclined toward plant-based food. According to the Plant Based Food Association (PBFA), retail sales of plant-based food in the US grew by 11.4% in 2019. Plant extracts are widely used as an antioxidant, antimicrobial agents, and shelf life-extending agents in the industry. Furthermore, the extracts are significantly used as flavoring agents in many food products. Moreover, changing people's preferences toward a healthy lifestyle, rising awareness related to the side effects of synthetic flavors, and growing R&D activities for natural extracts as ingredients are boosting the demand for plant extracts in the food & beverages industries. Thus, manufacturers are adopting strategic development initiatives to cater to the rising demand for plant extracts, which drives the market growth.
North America Plant Extracts Market Revenue and Forecast to 2028 (US$ Million)
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North America Plant Extracts Market Segmentation
The North America plant extracts market is segmented on the basis of form, source, application, and country. Based on form, the market is segmented into liquid, powder, and paste. The liquid segment dominated the market in 2022. Based on source, the market is segmented into fruits and vegetables, herbs and spices, flowers, and others. The herbs and spices segment dominated the market in 2022. Based on application, the North America plant extracts market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment dominated the market in 2022. Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
Dohler; Givaudan S.A.; Ingredion Inc.; International Flavors & Fragrances, Inc.; Kemin Industries, Inc.; Kerry Group Plc; Sensient Technologies Corporation; Symrise; and Synergy Flavors are a few key players dominating the North America plant extracts market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. North America Plant Extracts Market Landscape
4.1 Market Overview
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. North America Plant Extracts Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Natural Ingredients in Food & Beverages
5.1.2 Growing Inclination toward Herbal Products
5.2 Market Restraints
5.2.1 Regulatory Issues
5.3 Market Opportunities
5.3.1 Strategic Development Initiatives by Manufacturers
5.4 Future Trends
5.4.1 Increasing Veganism Trend
5.5 Impact Analysis of Drivers and Restraints
6. Plant Extracts Market – North America Analysis
6.1 North America Plant Extracts Market Overview
6.2 North America Plant Extracts Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Plant Extracts Market Analysis – By Form
7.1 Overview
7.2 North America Plant Extracts Market, By Form (2021 and 2028)
7.3 Liquid
7.3.1 Overview
7.3.2 Liquid: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Powder
7.4.1 Overview
7.4.2 Powder: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Paste
7.5.1 Overview
7.5.2 Paste: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Plant Extracts Market Analysis – By Source
8.1 Overview
8.2 North America Plant Extracts Market, By Source (2021 and 2028)
8.3 Fruits and Vegetables
8.3.1 Overview
8.3.2 Fruits and Vegetables: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Herbs and Spices
8.4.1 Overview
8.4.2 Herbs and Spices: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Flowers
8.5.1 Overview
8.5.2 Flowers: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Plant Extracts Market Analysis – By Application
9.1 Overview
9.2 North America Plant Extracts Market, By Application (2021 and 2028)
9.3 Food and Beverages
9.3.1 Overview
9.3.2 Food and Beverages: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
9.4 Pharmaceuticals and Nutraceuticals
9.4.1 Overview
9.4.2 Pharmaceuticals and Nutraceuticals: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
9.5 Personal Care
9.5.1 Overview
9.5.2 Personal Care: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
10. North America Plant Extracts Market – Country Analysis
10.1 Overview
10.1.1 North America: Plant Extracts Market, by Key Country
10.1.1.1 US: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Plant Extracts Market, by Form
10.1.1.1.2 US: Plant Extracts Market, by Source
10.1.1.1.3 US: Plant Extracts Market, by Application
10.1.1.2 Canada: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Plant Extracts Market, by Form
10.1.1.2.2 Canada: Plant Extracts Market, by Source
10.1.1.2.3 Canada: Plant Extracts Market, by Application
10.1.1.3 Mexico: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Plant Extracts Market, by Form
10.1.1.3.2 Mexico: Plant Extracts Market, by Source
10.1.1.3.3 Mexico: Plant Extracts Market, by Application
11. Industry Landscape
11.1 Overview
11.2 Product launch
11.3 Merger & Acquisition
11.4 Expansion
11.5 Partnership
11.6 Company News
12. Company Profiles
12.1 Sensient Technologies Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Givaudan S.A.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Symrise
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Dohler
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Synergy Flavors
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 International Flavors and Fragrances Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Kerry Group Plc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Ingredion Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Kemin Industries, Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Plant Extracts Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Plant Extracts Market Segmentation
Figure 2. North America Plant Extracts Market Segmentation – By Country
Figure 3. North America Plant Extracts Market Overview
Figure 4. North America Plant Extracts Market: By Form
Figure 5. North America Plant Extracts Market: By Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. Ecosystem: North America Plant Extracts Market
Figure 9. Sign Ups for Veganuary Campaign During 2015–2021
Figure 10. North America Plant Extracts Market Impact Analysis of Drivers and Restraints
Figure 11. North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Plant Extracts Market Revenue Share, By Form (2021 and 2028)
Figure 13. Liquid: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Powder: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Paste: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Plant Extracts Market Revenue Share, By Source (2021 and 2028)
Figure 17. Fruits and Vegetables: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Herbs and Spices: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Flowers: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: North America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Plant Extracts Market Revenue Share, By Application (2021 and 2028)
Figure 22. Food and Beverages: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
Figure 23. Pharmaceuticals and Nutraceuticals: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
Figure 24. Personal Care: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: North America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Plant Extracts Market, by key Country – Revenue (2021) (US$ Million)
Figure 27. North America: Plant Extracts Market Revenue Share, by Key Country (2021 and 2028)
Figure 28. US: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Canada: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)
- Dohler
- Givaudan S.A.
- Ingredion Inc.
- International Flavors & Fragrances, Inc.
- Kemin Industries, Inc.
- Kerry Group Plc
- Sensient Technologies Corporation
- Symrise
- Synergy Flavors
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Plant Extracts Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America Plant Extracts Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Plant Extracts Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution