South and Central America Plant Extracts Market Forecast to 2028

South and Central 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)

Report Code : BMIRE00025788 | Region : LAMEA | Industry : Food and Beverages | Published Date : 07/Sep/2022

The plant extracts market in South & Central America is expected to grow from US$ 2,700.80 million in 2022 to US$ 4,325.47 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028.

Manufacturers from food & beverages, personal care, pharmaceutical, and many industries provide significant investments for product innovation to launch herbal and clean-labeled products to meet the varied requirements of consumers and expand their customer base. For instance, in June 2022, Sweet Victory Ltd. collaborated with Givaudan to create a flavorful botanical-infused chewing gum for children that are designed to curb cravings for sugary treats. In such launched products, plant extracts are used as a key raw ingredient. These products were launched to help consumers maintain their health goals as health became a priority for consumers during the COVID-19 pandemic. Manufacturers are launching different herbal products because people have started focusing on herbal products while maintaining the nutritional balance. Manufacturers are incorporating plant extracts in personal care products and investing in their research and development activities to address the needs of consumers. Tetraselmis Suecica extract has been selected as highly effective in lowering sebum levels to address the issue of excessive sebum production at its root. In addition to natural mannitol, algae can protect hair and scalp from environmental damage. Such product innovations help the players in the plant extracts market extend their reach and gain a competitive edge in international markets. Various market players are adopting business expansion, production capacity scaleup, and many strategies to provide better customer satisfaction. Such development strategies are projected to open lucrative growth opportunities for the plant extracts market during the forecast period.

South & Central America Plant Extracts Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Plant Extracts Market Segmentation

The South & Central 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 South & Central 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 South & Central America plant extracts market is segmented into Brazil, Argentina, and the rest of South & Central America. Further, the rest of South & Central America dominated the market in 2022.

A few of the key players dominating the South & Central America plant extracts market are Dohler; Givaudan S.A.; Ingredion Inc.; International Flavors & Fragrances, Inc.; Kemin Industries, Inc.; Kerry Group Plc; Sensient Technologies Corporation; Symrise; and Synergy Flavors.

At 8.2% CAGR, the South & Central America Plant Extracts Market is speculated to be worth US$ 4,325.47 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the South & Central America investor plant extracts market was valued at US$ 2,700.80 million in 2022 and is expected to reach US$ 4,325.47 million by 2028, registering an annual growth rate of 8.2% from 2022 to 2028. The rising inclination toward herbal products and strategic development initiatives by manufacturers are the critical factors attributed to the market expansion.

The demand for herbal products is increasing among consumers. They often find herbal and natural products as healthier alternatives to synthetic products; producers tend to replace chemical ingredients with natural ingredients to respond to this trend. Various end-use industries are using plant extracts for the manufacturing of herbal products such as herbal food and beverages, herbal medicines, and herbal cosmetic products. Moreover, the demand for herbal products is increasing due to the increasing awareness about the therapeutic properties of herbs. Plant extracts are primarily added to cosmetic formulations because of several associated properties such as antioxidant, anti-inflammatory, antiseptic, and antimicrobial properties. The demand for herbal cosmetics and personal care products is increasing. Herbal cosmetics products are claimed to have efficacy and intrinsic acceptability as consumers routinely use these products in daily life over synthetic products to avoid the side effects. Manufacturers are also developing strategies to invest in the cosmetics industry. Thus, the increasing demands for herbal skin care products and herbal medicines are driving the growth of the plant extracts market.

On the contrary, regulatory issues hurdles the growth of South & Central America plant extracts market.

Based on form, the South & Central America plant extracts market is segmented into liquid, powder, and paste. The liquid segment held 59.0% market share in 2022, amassing US$ 1,594.68 million. It is projected to garner US$ 2,518.71 million by 2028 to expand at 7.9% CAGR during 2022–2028.

Based on source, the South & Central America plant extracts market is categorized into fruits and vegetables, herbs and spices, flowers, and others. The herbs and spices segment held 47.4% market share in 2022, amassing US$ 1,279.46 million. It is projected to garner US$ 2,008.45 million by 2028 to expand at 7.8% CAGR during 2022–2028.

Based on application, the South & Central America plant extracts market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. With 53.6% share of the domain, the food and beverages segment dominated the market in 2022. It accrued US$ 1,447.10 million in 2022 and is estimated to generate US$ 2,254.06 million by 2028 to grow at a CAGR of 7.7% over the forecast period.

Based on country, the South & Central America plant extracts market is categorized into Brazil, Argentina, and the rest of South & Central America. Our regional analysis states that rest of South & Central America captured 51.6% market share in 2022. It was assessed at US$ 1,392.46 million in 2022 and is likely to hit US$ 2,020.45 million by 2028, exhibiting a CAGR of 6.4% during the forecast period.

Key players dominating the South & Central America plant extracts market are Dohler; Givaudan S.A.; Ingredion Inc.; International Flavors & Fragrances, Inc.; Kemin Industries, Inc.; Kerry Group Plc; Sensient Technologies Corporation; Symrise; and Synergy Flavors, among others.

TABLE OF CONTENTS

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. South & Central 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. South & Central America Plant Extracts Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Demand for Natural Ingredients in Food and Beverages

5.1.2 Rising 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 – South & Central America Analysis

6.1 South & Central America Plant Extracts Market Overview

6.2 South & Central America Plant Extracts Market –Revenue and Forecast to 2028 (US$ Million)

7. South & Central America Plant Extracts Market Analysis – By Form

7.1 Overview

7.2 South & Central America Plant Extracts Market, By Form (2021 and 2028)

7.3 Liquid

7.3.1 Overview

7.3.2 Liquid: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Powder

7.4.1 Overview

7.4.2 Powder: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Paste

7.5.1 Overview

7.5.2 Paste: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

8. South & Central America Plant Extracts Market Analysis – By Source

8.1 Overview

8.2 South & Central America Plant Extracts Market, By Source (2021 and 2028)

8.3 Fruits and Vegetables

8.3.1 Overview

8.3.2 Fruits and Vegetables: South & Central 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: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Flowers

8.5.1 Overview

8.5.2 Flowers: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Others

8.6.1 Overview

8.6.2 Others: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

9. South & Central America Plant Extracts Market Analysis – By Application

9.1 Overview

9.2 South & Central America Plant Extracts Market, By Application (2021 and 2028)

9.3 Food and Beverages

9.3.1 Overview

9.3.2 Food and Beverages: South & Central 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: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

9.5 Personal Care

9.5.1 Overview

9.5.2 Personal Care: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

10. South & Central America Plant Extracts Market – Country Analysis

10.1 Overview

10.1.1 South & Central America: Plant Extracts Market, by Key Country

10.1.1.1 Brazil: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 Brazil: Plant Extracts Market, by Form

10.1.1.1.2 Brazil: Plant Extracts Market, by Source

10.1.1.1.3 Brazil: Plant Extracts Market, by Application

10.1.1.2 Argentina: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 Argentina: Plant Extracts Market, by Form

10.1.1.2.2 Argentina: Plant Extracts Market, by Source

10.1.1.2.3 Argentina: Plant Extracts Market, by Application

10.1.1.3 Rest of South & Central America: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 Rest of South & Central America: Plant Extracts Market, by Form

10.1.1.3.2 Rest of South & Central America: Plant Extracts Market, by Source

10.1.1.3.3 Rest of South & Central America: 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. South & Central America Plant Extracts Market –Revenue and Forecast to 2028 (US$ Million)

Table 2. Brazil Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)

Table 3. Brazil Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 4. Brazil Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 5. Argentina Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)

Table 6. Argentina Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 7. Argentina Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 8. Rest of South & Central America Plant Extracts Market, by Form – Revenue and Forecast to 2028 (US$ Million)

Table 9. Rest of South & Central America Plant Extracts Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 10. Rest of South & Central America Plant Extracts Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 11. List of Abbreviation

LIST OF FIGURES.

Figure 1. South & Central America Plant Extracts Market Segmentation

Figure 2. South & Central America Plant Extracts Market Segmentation – By Country

Figure 3. South & Central America Plant Extracts Market Overview

Figure 4. South & Central America Plant Extracts Market: By Form

Figure 5. South & Central America Plant Extracts Market: By Country

Figure 6. Porter's Five Forces Analysis

Figure 7. Expert Opinion

Figure 8. Ecosystem: South & Central America Plant Extracts Market

Figure 9. Sign Ups for Veganuary Campaign During 2015–2021

Figure 10. South & Central America Plant Extracts Market Impact Analysis of Drivers and Restraints

Figure 11. South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. South & Central America Plant Extracts Market Revenue Share, By Form (2021 and 2028)

Figure 13. Liquid: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14. Powder: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. Paste: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. South & Central America Plant Extracts Market Revenue Share, By Source (2021 and 2028)

Figure 17. Fruits and Vegetables: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. Herbs and Spices: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. Flowers: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. Others: South & Central America Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. South & Central America Plant Extracts Market Revenue Share, By Application (2021 and 2028)

Figure 22. Food and Beverages: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

Figure 23. Pharmaceuticals and Nutraceuticals: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

Figure 24. Personal Care: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

Figure 25. Others: South & Central America Plant Extracts Market– Revenue and Forecast to 2028 (US$ Million)

Figure 26. South & Central America: Plant Extracts Market, by key Country – Revenue (2021) (US$ Million)

Figure 27. South & Central America: Plant Extracts Market Revenue Share, by Key Country (2021 and 2028)

Figure 28. Brazil: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. Argentina: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30. Rest of South & Central America: Plant Extracts Market – Revenue and Forecast to 2028 (US$ Million)

The List of Companies - South and Central America Plant Extracts Market

● Dohler

● Givaudan S.A.

● Ingredion Inc.

● International Flavors & Fragrances, Inc.

● Kemin Industries, Inc.

● Kerry Group Plc

● Sensient Technologies Corporation

● Symrise

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central 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 South & Central 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 South & Central 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

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