Medicinal and aromatic demand
The Indian Plant Extract market is expected to grow at a CAGR of around 17% during 2018-2023 based on demand from wide range of medicinal and aromatic uses, according to an industry report.
As a result, of increased investments as well as significant demand of plant extract in internationals markets, there lies immense opportunity for new and existing players to tap the fast-growing market which would garner huge revenue.
Indian Plant Extract market is rapidly growing over the years owing to factors like shift in consumers demand towards herbal and natural product, various schemes launched by government, key investment and expansions being made in the Indian plant extract industry, among others.
At global level, demand for herbal and natural products has been rising and people are looking towards alternative medicine and products with high natural ingredients, said the “Indian Plant Extract Market Outlook to 2023” report from ResearchAndMarkets.com’s on 10 Sept 2019.
Currently, China is the leading player when it comes to export of plant extracts and India would need to take few steps to enhance its export volume.
Plant extract manufacturers must get necessary approvals from regulatory authorities of leading countries like United States and European countries. Besides, promoting cultivation of these plants would also help players as there is a significant opportunity in the export of plant and its parts.
The report covered Dabur India Ltd, Himalaya Herbals, Emami Limited, Patanjali Ayurved Limited, Arya Vaidya Sala, Kottakkal, Kancor Ingredients Limited, Sami Labs Limited, OmniActive Health Technologies, Hamdard Laboratories, Arjuna Natural Extract Limited, Vidya Herbs and Omniactive Health Technologies (Indfrag Limited). fiinews.com
