South & Central America Plant Extracts Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

South & Central America Plant Extracts Market Size and Forecast (2021-2031), Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Form (Powder, Liquid, and Paste), Source (Fruits and Vegetables, Herbs and Spices, Flowers, and Others), Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others), and Country

  • Report Code : TIPRE00039164
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 119
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The South & Central America plant extracts market size is projected to reach US$ 5.52 billion by 2031 from US$ 2.93 billion in 2023. The market is expected to register a CAGR of 8.2% during 2023–2031.

Consumers are seeking healthier alternatives in the food & beverages sector, with high demand for organic food & beverages. This has influenced the manufacturers to include organic plant extracts as flavorings, colorants, and preservatives in their products. For instance, organic green tea extract, derived from camellia sinensis, is rich in antioxidants. It is added to dietary supplements and functional foods for health-promoting benefits. This factor is likely to remain a key trend in the market.

South & Central America Plant Extracts Market Analysis

Consumers are becoming more conscious of the ingredients in their food and beverages, seeking products made with natural and authentic components. Natural extracts derived from sources such as fruits, herbs, spices, and botanicals fulfill consumer preferences for clean-label products. Due to growing concerns about ingredient safety and potential health consequences, consumers are focusing on the ingredients included in processed food. There is a rising awareness among people about the adverse effects of consuming food and beverages with artificial ingredients. Several health organizations, such as the World Health Organization and UNICEF, and food safety associations prohibit using artificial flavorings in food and beverages. Consumers are focusing on holistic and conscious consumption of food and prefer products with ethically sourced ingredients. As a result, consumers are including products that are free of synthetic ingredients in their diets and are willing to pay high prices for these ingredients. People are becoming more inclined toward natural ingredients and additives such as plant extracts. Plant extracts are widely used as an antioxidant, antimicrobial, flavoring, and shelf-life-extending agent in the food industry.

South & Central America Plant Extracts Market Overview

Plant extracts are substances that are extracted from various parts or sources of a plant such as fruit, flower, bark, leaves, stem, peel, root, and seed. They are available in powders, concentrates, distillates, concoctions, tinctures, infusions, paste, granules, and various other formats. Plant extracts play a significant role in preventive healthcare as they prevent new incidences of diseases by strengthening the immune system. Thus, rising awareness regarding preventive healthcare is expected to boost the demand for plant extracts during the forecast period.

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South & Central America Plant Extracts Market: Strategic Insights

South & Central America Plant Extracts Market

  • CAGR (2023 - 2031)
    8.2%
  • Market Size 2023
    US$ 2.93 Billion
  • Market Size 2031
    US$ 5.52 Billion

Market Dynamics

GROWTH DRIVERS
  • Rising Demand for Natural Ingredients in Food and Beverages
  • Growing Applications of Plant Extracts in Various Industries
FUTURE TRENDS
  • Rise in natural and plant-based anti-aging and other cosmetics products is likely to bring new trends in the South & Central America plant extracts market in the coming years.
OPPORTUNITIES
  • Growing Consumer Inclination toward Herbal Products

Key Players

  • Grupo Natac SLU
  • Martin Bauer GmbH & Co KG
  • Archer-Daniels-Midland Co
  • Kemin Industries In
  • Ingredion Inc
  • Kerry Group Plc
  • International Flavors & Fragrances Inc
  • Dohler GmbH
  • Symrise AG

Regional Overview

  • South and Central America

Market Segmentation

Form
  • Powder
  • Liquid
  • Paste
Source
  • Fruits and Vegetables
  • Herbs and Spices
  • Flowers
Application
  • Food & Beverages
  • Pharmaceuticals & Nutraceuticals
  • Personal Care
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

South & Central America Plant Extracts Market Drivers and Opportunities

Rising Demand for Natural Ingredients in Food and Beverages

In South & Central America, extracts of acai berries, maqui berries, camu-camu, guarana, yerba mate, soursop, and maca are widely used in various applications, including functional beverages, RTD juices, jams and preserves, smoothies, and frozen desserts and ice creams, among others. These native plant extracts are known for their unique health benefits and are achieving immense recognition in domestic and international markets. For instance, leaf extracts of yerba mate plants are used to make mate tea, which is a popular beverage in South & Central America. Mate tea is known for its stimulating effect on the mind and body due to its high caffeine and phenolic content. Yerba mate extracts are witnessing significant demand across the region due to the rising interest of consumers in functional food and beverages infused with natural ingredients.

Growing Consumer Inclination toward Herbal Products

South & Central America are rich in biodiversity, with many plants known for their medicinal benefits. As consumers become more health-conscious and seek natural alternatives to synthetic ingredients, the demand for products derived from plant extracts known for their medicinal and therapeutic properties is rising. Consumers perceive them to be more authentic and effective than synthetic alternatives. Also, there is a growing mistrust among consumers regarding synthetic ingredients and conventional pharmaceuticals; this makes them prefer traditional herbal remedies over synthetic ingredients-based products. Plant extracts have been used in traditional medicine practices for centuries in the region, and there is a renewed interest in tapping into the potential of developing modern herbal products.

South & Central America Plant Extracts Market Report Segmentation Analysis

Key segments that contributed to the derivation of the South & Central America plant extracts market analysis are form, source, and application.

  • Based on form, the South & Central America plant extracts market is segmented into powder, liquid, and paste. The liquid segment held the largest market share in 2023.
  • By source, the market is segmented into fruits and vegetables, herbs and spices, flowers, and others. The herbs and spices segment held the largest share of the market in 2023.
  • In terms of application, the market is categorized into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food & beverage segment held the largest share in 2023.

South & Central America Plant Extracts Market Share Analysis by Country

The geographic scope of the South & Central America plant extracts market report is mainly divided into the following countries: Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Costa Rica, and the Rest of South & Central America.

Brazil dominated the market in 2023. Due to increasing awareness about health concerns, consumers are adopting a clean, natural, and sustainable approach. This notable shift in consumers' attitudes and increasing demand for healthy food and beverages is resulting in a strong demand for plant extracts. Brazilian plant extracts such as jambu, mate, and guarana have high demand in the skincare, dietary supplements, and pharmaceutical industries. With the growing demand, the leading players are increasingly launching a wide range of products using these plant extracts. For instance, in 2019, Givaudan launched a range of Brazilian plant extracts under the “RitualEssenz” brand, consisting of jambu, mate, and guarana extracts. Such innovations by the manufacturers generate significant demand for plant extracts in different end-use industries, driving the plant extracts market in the country. Furthermore, the market in Argentina is anticipated to register the highest CAGR in the coming years.

South & Central America Plant Extracts Market Report Scope

Report Attribute Details
Market size in 2023 US$ 2.93 Billion
Market Size by 2031 US$ 5.52 Billion
Global CAGR (2023 - 2031) 8.2%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Form
  • Powder
  • Liquid
  • Paste
By Source
  • Fruits and Vegetables
  • Herbs and Spices
  • Flowers
By Application
  • Food & Beverages
  • Pharmaceuticals & Nutraceuticals
  • Personal Care
Regions and Countries Covered South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Market leaders and key company profiles
  • Grupo Natac SLU
  • Martin Bauer GmbH & Co KG
  • Archer-Daniels-Midland Co
  • Kemin Industries In
  • Ingredion Inc
  • Kerry Group Plc
  • International Flavors & Fragrances Inc
  • Dohler GmbH
  • Symrise AG
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    South & Central America Plant Extracts Market News and Recent Developments

    The South & Central America plant extracts market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the South & Central America plant extracts market are listed below:

    • Kemin Food Technologies–EMEA introduced OLESSENCE to boost flavor and preserve freshness in dry bakery products. (Source: Kemin Food, Newsletter, February 2024)
    • Ingredion Inc. signed a strategic distribution agreement with Batory Foods, expanding its distributor reach . (Source: Ingredion Inc, Press Release, September 2021)

    South & Central America Plant Extracts Market Report Coverage and Deliverables

    The "South & Central America Plant Extracts Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

    • South & Central America plant extracts market size and forecast at regional and country levels for all the key market segments covered under the scope
    • South & Central America plant extracts market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter's Five Forces and SWOT analysis
    • South & Central America plant extracts market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the South & Central America plant extracts market
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What would be the estimated value of the South & Central America plant extracts market by 2031?

    The South & Central America plant extracts market is estimated to be valued at US$ 5.52 billion in 2031.

    What is the expected CAGR of the South & Central America plant extracts market?

    The market is expected to record a CAGR of 8.2% from 2023 to 2031.

    Which are the leading players operating in the South & Central America plant extracts market?

    Grupo Natac SLU, Martin Bauer GmbH & Co KG, Archer-Daniels-Midland Co, Kemin Industries Inc, Ingredion Inc, Kerry Group Plc, International Flavors & Fragrances Inc, Dohler GmbH, Symrise AG, and Givaudan SA are the leading players operating in the market.

    Which country dominated the South & Central America plant extracts market in 2023?

    Brazil dominated the South & Central America plant extracts market in 2023.

    What are the driving factors impacting the South & Central America plant extracts market?

    Rising demand for natural ingredients in food & beverages and growing application of plant extracts in various industries are the key drivers of the South & Central America plant extracts market.

    What are the future trends of the South & Central America plant extracts market?

    Rise in natural and plant-based anti-aging and other cosmetics products is likely to bring new trends in the South & Central America plant extracts market in the coming years.

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

    1. Grupo Natac SLU    
    2. Martin Bauer GmbH & Co KG        
    3. Archer-Daniels-Midland Co           
    4. Kemin Industries Inc         
    5. Ingredion Inc         
    6. Kerry Group Plc      
    7. International Flavors & Fragrances Inc     
    8. Dohler GmbH         
    9. Symrise AG           
    10. Givaudan SA

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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