The Herbal Extract Market size is valued at US$ 41.8 Billion in 2024 and is expected to reach US$ 81.1 Billion by 2031, growing at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Segment Analysis:
In terms of application, the Herbal Extract Market is segmented into functional food and beverages. Among the segments, functional food contributes the highest share of the market owning to the rising health consciousness.
Functional food contains bioactive compounds sourced from herbs that provide additional health benefits beyond basic nutrition. The growing awareness about preventive healthcare and focus on maintaining wellness naturally has increased the demand for functional food products fortified with herbal extracts. Particularly, herbal extracts are increasingly being added to staple food items like breakfast cereals, yogurt, and snack bars to enhance their nutritional profile. Changing lifestyles and busy schedules have led to a rise in demand for convenient packaged food that can fit into people's daily routine while also offering health advantages. This ongoing trend is propelling the use of herbal extracts in functional food applications. Moreover, various herbal components have scientifically proven health-promoting properties like antioxidant, anti-inflammatory, and antimicrobial activities which consumer seek to gain through their diets. This drives food companies to introduce novel products containing safe and quality herbal extracts.
In terms of type, the Herbal Extract Market is segmented into leaves, flowers, fruits & bulbs, and barks & stems. Among these segments, leaves contributes the highest share of the market.
Leaves are the primary organ for photosynthesis in plants and thus contain high concentration of bioactive compounds that provide health benefits to humans. Many commonly used herbs including thyme, oregano, sage, basil, lavender, mint etc. are sourced from their leaves which have established medicinal properties. Leaves of these herbs have significant levels of antioxidants, vitamins, minerals and other phytochemicals. They find applications as flavouring and preservative agents in food and cosmetic products due to anti-microbial benefits. Moreover, leaves are extensively utilized in herbal medicines and dietary supplements owing to easy availability and processing. Technological advancements have enabled large-scale and sustainable harvesting of leaves to meet the growing demand from herbal extract industry. Their wide applications, therapeutic properties and consistent supply chain have made leaves the dominant segment in the herbal extract market.
Herbal Extract Market- Trends
Herbal Extract Market Report Snapshots
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