The global plant extracts market is expected to grow at a CAGR of 6.0 percent from 2021 to 2026, from USD 30.8 billion in 2021 to USD 55.3 billion in 2026. The market for plant extracts is being driven by an increase in the number of health-conscious people as well as a rise in vegan trends. According to the United Nations (UN), there were roughly 79 million vegans in the world in 2021. The rise in awareness of the health benefits connected with the intake of plant-based food products among the target customers is responsible for this large quantity. With shifting consumer attitudes of plant-based food items.
Almost every industry in the world was affected by the novel coronavirus/COVID-19 pandemic. This epidemic has resulted in widespread industrial halts and supply chain disruptions, which has had a negative impact on the economy.
Depending on cultural norms, mitigation efforts, and health infrastructure, the disease has a varying impact in different countries, and each country is striving to combat the pandemic. Medicinal plant extracts have been shown to be effective against coronavirus in a number of trials. To combat COVID-19, scientists are experimenting with a variety of therapeutic plant extracts.
In the current situation, it is critical to raise immunity in order to combat the coronavirus, as well as maintain hygiene and adhere to all medical advises. Even the World Health Organization (WHO) suggests that the global population consumes immunity-boosting foods in its COVID-19 report. As a result, the pharmaceuticals and nutraceuticals industries are seeing a boom in demand for medical plant extracts with qualities that increase human immunity.
The global lockdown, on the other hand, has had an impact on farming techniques, which has had a significant impact on the supply of raw materials for medicinal plant extracts. The influence of COVID-19 on logistics is also a factor.
Food flavourings have no nutritional value and, in rare cases, can be toxic in nature. Food additives are receiving more attention these days, owing to growing worries about their safety and potential health consequences. The negative effects of consuming food and beverages containing synthetic substances are becoming more well recognised. Artificial flavourings are prohibited in food and beverages by a number of health organisations and food safety agencies. For example, the US Food and Drug Administration (FDA) prohibited seven synthetic flavourings linked to cancer on October 5th, 2018. According to the FDA, natural extracts should be used.
The majority of herbaceous plants with useful qualities may be found in Asian countries. The bulk of these plant species are found in China and India. India is recognised as the ‘Botanical Garden of the World,' as it has over 25,000 medicinal plants. Because these plants are primarily grown in a few countries, the availability of such a diverse range of plants in other developed countries is limited. Seasons for some spices and herbs are accessible, and they are harvested once a year. One of the most serious issues confronting the plant extracts business is the lack of consistency in the supply of raw materials. Herbs and spices can vary in price depending on availability and season.
Comments
Post a Comment