Plant extract refers to a product formed by using natural plants as raw materials, through the process of extraction and separation, to obtain and concentrate one or more active ingredients in plants in a targeted manner without changing the structure of the active ingredients. Plant extracts are important natural products, and their applications cover many fields such as medicine, health products, food and beverages, condiments, dietary supplements, cosmetics and feed additives.
Market Size
According to China Business Intelligence Network, China’s plant extract industry is influenced by traditional Chinese medicine culture and has unique development advantages. At the same time, with the rapid growth of global demand for plant extracts, the market size of China’s plant extract industry is also showing a growth trend. According to the estimated size of the global plant extract market and the proportion of the Chinese market in recent years, in 2019, the market size of China’s plant extracts reached US$5.4 billion, and the market size of China’s plant extracts industry is expected to reach US$7 billion in 2022.
Chart from: Yaan Times Biotech Co., Ltd；
Website: www.times-bio.com Email: info@times-bio.com
According to data from the China Chamber of Commerce for Import and Export of Medicines and Health Products, China, as the world’s major exporter of plant extracts, has seen a continuous rise in the export value of plant extracts in recent years, hitting a record high of 16.576 billion yuan in 2018, a year-on-year increase of 17.79%. In 2019, due to the impact of international trade, the annual export value of plant extracts was 16.604 billion yuan, an increase of only 0.19% year-on-year. Although affected by the epidemic in 2020, it has also stimulated consumers’ demand for plant extracts from natural sources. In 2020, China’s plant extract exports were 96,000 tons, an increase of 11.0% year-on-year, and the total export value was US$171.5, a year-on-year increase of 3.6%. In 2021,from January to June, the total export value of China’s plant extracts was 12.46 billion yuan, and it is expected to be 24 billion yuan for the whole year.
Chart from: Yaan Times Biotech Co., Ltd；
Website: www.times-bio.com Email: info@times-bio.com
North America, Asia and Europe are the major markets for plant extracts globally. According to statistics from the Medical Insurance Chamber of Commerce, the top ten countries and regions in China’s plant extract exports in 2020 are the United States, Japan, India, Spain, South Korea, Mexico, France, Germany, Hong Kong, China, and Malaysia, of which exports are to the United States and Japan. The proportion is very large, accounting for 25% and 9% respectively.
Chart from: Yaan Times Biotech Co., Ltd；
Website: www.times-bio.com Email: info@times-bio.com
Post time: Mar-18-2022