Plant Extracts are chemical compounds extracted from herbal plants and are incorporated into different applications as active ingredients for the purpose of curing various diseases. The global Plant extracts market has been categorised into four segments, namely: by type, form, end use industry and geography. In the present day scenario, a product’s functions and ingredients equally important for the consumers as they are more conscious about the harmful effects of chemically processed products on their body.
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Furthermore, growing interest towards self-grooming, the day by day increasing number of newly launched products and broadening of distribution channels are leading to the rise in demand of plant derived skin care products. Plant products market forms around 3%-4% of the global personal care market, wherein, Germany itself accounts for around one-fourth of the global Plant personal care products. In 2013, skin care products segment accounted for around 32% of the global market followed by hair care products forming nearly 27% of the total market.
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The global market of plant extracts is estimated to grow from around $41.5bn to around $79.2bn at a CAGR of 11.4% during the forecast period. Phytochemicals, as shown in the above figure, are estimated to grow the fastest, with a CAGR of 11.7%.
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