Modern science and technology advancement has made the plant extraction industry gradually develop towards industrialization.
Since the 1980s, the voice of human beings "advocating nature and returning to nature" has been increasing. After 2010, with the popularity of plant-derived food additives such as pigments and sweeteners, the plant extraction industry has rapidly developed into a major health raw material industry that has attracted much attention.
(Photo Credit: echemi.com)
In addition, with the improvement of human living standards, the concept of returning to nature has been continuously strengthened, and food, medicine, health care products and cosmetics are increasingly becoming green, natural and pollution-free products. According to relevant statistics from Markets and Markets, the market value of plant extracts is about 23.7 billion US dollars in 2019, reaching 30.8 billion US dollars in 2021. It is expected to reach 59.4 billion US dollars by 2025. The compound annual growth rate from 2019 to 2025 is 16.5%.
Broad Market Prospects:
In the pharmaceutical industry, it can replace chemical products and reduce certain toxic and side effects;
In the daily chemical industry, it can enrich the diversified choices of products;
Application in the food industry can make food more natural and safer;
The animal breeding industry can improve the quality of animal products.
At present, the world's largest technology source country for plant extracts is China. China's plant extract patent applications accounted for 58.66% of the global plant extract patent applications; followed by South Korea, South Korea's plant extract patent applications accounted for 12.74% of the global plant extract patent applications. The United States and Japan ranked third and fourth, but there was a large gap with the number of patent applications in China, which ranked first.