Increasing acceptance of plant extract based products by domestic and foreign customers, introduction of new herbal products by cosmetics brands, and innovations and new product launches in India herbal extracts market are expected to drive the overall market in the future.
There are more than 45,000 plant species that are present in the Indian sub-continent. The dependence of people on plants for various health benefits has significantly evolved the herbal extracts market of the country over the past. Being the largest supplier of ayurvedic medicines and herbs in the world, the herbal extract manufacturers in the country cater to the requirements of the companies, which majorly operate in pharmaceuticals, cosmetics, and food and beverages industries across the world.
Companies in the pharmaceutical, F&B and cosmetics industry realized the importance of using natural herbs as ingredients in various products. This was not only done to drive the growing demand, but it also benefitted the companies in procuring raw materials from extensive species of plants in India. This led to an incline in the revenues of herbal extracts manufacturers which offered products in the required proportions. There was a trend between FY’2012 and FY’2017, when cosmetics companies focused on introducing beauty products to tap the male population of the country. Cosmetics brands procured increased volumes of herbal extracts from market players to cater the new customer base with new product varieties.
During 2016-17, Hindustan Unilever Ltd. introduced natural versions of shampoo brands Tres Semme and Clinic Plus. It also launched fairness face cream Fair & Lovely with natural and herbal extracts. The expansion of HUL’s natural products brand, Lever Ayush, during the review period also added to the overall sales of herbal extracts manufacturers due to the rising consumption of such products by the population of the country.
Ken Research announced its latest publication on “India Herbal Extract Market by End Users (Pharmaceuticals & Nutraceutical, Cosmetics and Food & Beverage Industries), by Extract type (Carotenoids, Aloe Vera, Ginger, Capsicum, Turmeric, Shilajit, Marigold, Shatavari and Others), Oleoresins and Essential Oil – Outlook to 2022” suggested 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. Continuous introduction of new plant-based products by the pharmaceutical & nutraceutical, cosmetics, and food and beverages companies are attracting large number of potential players to enter the space.
Various technological processes including Supercritical Fluid Extraction, Thin Film Distillation, Spinning Cone Column, SuperCritical CO2 and other Conventional extraction processing techniques were used to meet the current demand. Market players also launched new products to assist the production and sales of companies in pharmaceutical, cosmetics and food and beverages sectors. The latest and most featured product of Arjuna Natural Extracts is Curcumin BCM-95. Other players operating in the market also added to the overall sales with the launch of new types of herbal extracts. For instance, Mrida Greens and Organics, the Gujarat-based company processes and sells aloe vera dry extracts introduced five new dry herbal extracts including Noni, Vijaysar, Shtavari, Amla and Shankhapushpi in March 2017. New herbal extracts will boost the overall revenues of the market due to the introduction of varied products manufactured using such natural extracts.
Key Topics Covered in the Report:
Export Herbal Extract from India
Paprika Oleoresins Volume India
Oleoresins of Spices Market India
Spice Oleoresins Market India
Production Process Herbal Extract India
Essential Oil and Oleoresins Market India
Technology Herbal Extracts India
India Essential Oil Market
India Carotenoids Market Size
Oleoresins Manufacturers in India
Market Share OmniActive Health India
Oleoresins Demand in India
India Resionds Market
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Ankur Gupta, Head Marketing & Communications