The European plant extract market is estimated to grow at an approximate CAGR of 8% during the forecast period 2018-2023. European phytochemicals & plant extracts market is dominated by Germany, followed by France and Italy. There is a growing demand for plant extracts for personal care products as the consumers are preferring natural ingredients. The growing awareness among the consumers regarding the health benefits and efficacy of naturally derived products is raising the market demand.
What is a Plant Extract?
A plant extract is a substance or an active with desirable properties that is obtained from the plant tissue by treating it with a solvent, to be used for a particular purpose. Most commonly used solvents are Water, Ethanol, Ethyl acetate, CO2, Methanol, Aceton, Acetic acid and Hexane. Extracts may be used in various foodstuffs such as antioxidants, preservatives, etc. Plant extracts are used as processing aids and additives in pharmaceutical industry for therapeutic properties as preventive or curative. Plant extracts are used in cosmetics as functional properties for beauty and well-being. Because of the advancements made in extraction methods, new medicinal properties have been discovered, and the set of active molecules in the plant are being better and better preserved.
Market Research and Market Trends of European Plant Extract:
- The demand for medicinal products made from plant extracts in Europe is increasing in other countries such as the USA, Russia, Japan and China. Globally, the European products are valued by the buyers because of their high quality and purity, especially the ones produced by German and Swiss. This is driving European demand for pharmaceutical ingredients. This is one of the major factor which is driving the pharmaceutical industry and thus increasing the demand for plant extract in Europe.
- Antimicrobial resistance is a growing concern in Europe. Treatment becomes even more difficult or impossible when the microbes such as bacteria become resistant to antimicrobials and antibiotics. According to the European Centre for Disease Prevention and Control, it is estimated that antimicrobial resistance results in 25,000 deaths every year. If this condition prevails, antibiotics will not be effective in the future. As a result, manufacturers and consumers are shifting their focus on the use of natural plant extracts as alternatives to antibiotics.
- Consumer awareness of side effects from conventional medicine is increasing. Thus, consumers are preferring aromatherapy products as they are milder and safer when compared to conventional medicine. The manufacturers are now using mixtures of essential oils in the aromatherapy products. These products have high demand in United Kingdom and Netherlands which in turn is rising the plant extract market.
Who are the Major Players in European Plant Extract Market?
The companies referred in the market research report are Van Eeghen Functional Ingredients (Netherlands), DuSart Pharma (Netherlands), Ronik Oil-Field Ltd (Netherlands), Martin Bauer GmbH & Co KG (Germany), Lycored (U.K.)
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