Development History Of Plant Extract Market

In the early 1980s, developed countries such as Europe and the United States, which had basically completed industrialization, set off a trend of returning to nature. People's interest in and rejection of synthetic chemical products with side effects has gradually increased, and their favor for natural and safe plant extracts has returned. In order to be respected, the industry should rise in response to the trend. In 1994, the United States promulgated the "Dietary Supplement Health and Education Act", which officially recognized the acceptance of plant extracts as a food supplement, and the plant extract industry developed rapidly. my country has a long history of traditional Chinese medicine, and medical personnel have attached great importance to the analysis of plant properties and medicinal properties since ancient times. By the 1970s, some domestic pharmaceutical factories began to use mechanical equipment to extract plant ingredients, but this was only used as a production link in pharmaceutical manufacturing and did not develop into an independent industry. After the mid-1990s, as the degree of opening up to the outside world deepened, foreign trade began to flourish, and the plant extract industry, which was less restricted by policies, began to develop. Since the 21st century, the plant extract industry has entered a golden age. On the one hand, the improvement of living standards and the enhancement of health awareness have driven people's strong demand for plant extract products; on the other hand, they benefited from more advanced plant extraction technologies (such as enzymatic extraction, ultrasonic extraction, supercritical extraction, The application of microwave extraction, membrane separation technology, etc.) has greatly improved production efficiency. According to Innova's data, between 2014 and 2018, the global growth rate of food and beverages using plant ingredients reached 8 percent . Market researchers regard Latin America as the main growth market for this segment, with a compound annual growth rate of 24 percent during this period, followed by Australia (10 percent ) and Asia (9 percent ). In the market category, sauces and condiments accounted for the most market share. In 2018, this field accounted for 20 percent of the global plant ingredient application market share, followed by ready-to-eat foods and side dishes (14 percent ), snacks (11 percent ) , Meat products and eggs (9 percent ) and baked goods (9 percent ). In addition, the field of sports nutrition has become the fastest growing market category for plant ingredients. Driven by the growth of plant supplements, the compound annual growth rate of this field in 2018 was 25 percent , followed by 22 percent of the alcoholic beverage category.