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Preference for natural products to drive herbal extracts market

Our Bureau, Mumbai
Saturday, December 30, 2017, 12:00 Hrs  [IST]

India herbal extracts market has recorded phenomenal growth over the years with rising awareness among the people about the health benefits of consuming herbal products. The market has majorly been driven by the exports of high quality herbal extracts to the US, Canada, Ukraine, South Korea, Czech Republic, Israel, France, Taiwan, Nepal, and other nations. The inclination of foreign customers towards Indian products due to health benefits of various herbs has led to a boost in the revenues of the market.

Ken Research in its latest publication on India herbal extract market has forecast a rapid growth in India herbal extracts market, majorly driven by the growing preference of people for natural and herbal products over the already existing chemical-based products. The stakeholders of this report include herbal extracts, oleoresins and essential oil manufacturers and distributing agents, pharmaceutical & nutraceutical, cosmetics, and food and beverages companies, companies involved in research, farmers in India and the new entrants and venture capitalists who wish to invest in herbal extracts market in future.

Detailed comparative analysis of major herbal extracts market players has also been provided. Various marketing analysis factors such as trends and developments and SWOT analysis are also added in the study. The future analysis of the overall India herbal extracts market has also been discussed along with recommendations from analyst view.

Plant or herbal extracts are natural products which have gained immense importance over the past few years. Such products are used as raw materials or ingredients by the companies operating in pharmaceuticals, cosmetics, and food and beverages industries across the world. Asia Pacific is amongst the fastest growing geographies owing to the demand and supply of herbal extracts from China and India.

The use of herbal extracts in the pharmaceutical and nutraceutical industry of India contributed a dominant share in the overall sales of the players operating in the space during FY’2017. The rising demand for natural cosmetics has resulted in augmented use of herbal extracts in preparing beauty products.

The sales of carotenoids by Indian manufacturers to pharmaceutical and nutraceutical companies dominated the market during FY’2017. Aloe vera is also known as the medicinal aloe and has several benefits to human skin and health. Drugs for general wellness accounted for the maximum consumption during FY’2017 .

Turmeric is the most used natural ingredient in manufacturing cosmetics products and contributed a dominant share to the overall market revenues during FY’2017.

Kancor Ingredients was the first market player in India manufacturing oleoresin of black pepper, followed by Synthite Industries Limited and Plant Lipids. Other leading market players include Arjuna Natural Extracts Ltd., and Sami Labs Limited.

The market for oleoresins has been increasing due to rising demand for packaged spices and the use of spice mixes in food applications. The allowance of foreign direct investment (FDI) in five plantation crops, which include cardamom via the automatic route has attracted foreign fund in cardamom plantation, thus having a positive effect on the extraction volumes of oleoresins.


The most used herbs for oleoresins extraction are turmeric, black pepper, paprika, capsicum, ginger, garlic, and onion. In terms of volume, oleoresins from paprika had the largest contribution in the market, whereas, in terms of value, oleoresin from turmeric led the overall revenues during FY’2017.

Asia Pacific is projected to drive the growth of the market owing to the development of food processing industry in the developing nations including India, China and Indonesia.

The overall market is concentrated among the top seven players which hold the majority of the share. Major players in the herbal extracts market in the country include Arjuna Natural Extracts Ltd., Synthite Industries Limited, Sami Labs Limited, Vidya Herbs Private Limited, OmniActive Health Technologies Ltd., Indfrag Limited and K.Patel Phyto Extractions Pvt. Ltd.

Synthite Industries dominated the market revenues in India Herbal Extracts Market. Plant Lipids Pvt Limited acquired the second position in terms of market revenues, majorly driven by its manufacturing facilities in India.

The revenues generated by herbal extracts market players in India are projected to augment by FY’2022. The sales of herbal extracts to pharmaceuticals and nutraceutical industry in the country are projected to dominate the market in the overall market revenues during FY’2022. The shift of people from packaged food with high chemical content to dietary supplements with herbal extracts will make F&B customers contribute more to the overall market revenues during FY’2022.

 

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