Plant Extraction Equipment Market Report Overview
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The global plant extraction equipment market size was USD 2658 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the plant extraction equipment market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 5,383.72 million in 2031, exhibiting a CAGR of 7.28% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Plant extracts are a material that hauls out from seeds, leaves, flowers, roots, and bark in a form of essential oils and active ingredients which are used in the pharmaceutical and food industries. The pharmaceutical industry uses extraction equipment to recover active compounds from medicinal plants or herbs, and the food industry uses extraction equipment to recover essential oils, oleoresins, aromas, and natural extracts. Solvent-based plant extraction is a method of generating crude mixtures through the use of appropriate plant extraction equipment. Different forms of plant extractions are available, such as liquids, solids, or viscous liquids. As a result of its efficiency in process technology and cost-effectiveness, extraction is gaining traction as an alternative to conventional separation methods such as distillation and concentration.
The significant factor driving the market, besides cost-effectiveness and efficiency, is the growing desire for organic and herbal attributes in products. Increasing consumer demand for plant-extract nutritional supplements and beauty products creates the greatest demand for plant extracts in the food and beverage industry and cosmetics industry. The market demand is therefore expected to increase in the forecast. Based on application, pharmaceuticals are anticipated to be the largest segment of the market and followed by food and beverages which will aid the market to grow at a significant CAGR during the forecast period.
COVID-19 Impact: Surge in Remedies to Cure Virus Infection Enhance Opportunities for the Market Growth
The impact of the COVID-19 pandemic on the plant extraction equipment market has witnessed a positive effect in the year 2020-21. As health organizations and research institutes were striving to create vaccines to cure the COVID disease, meanwhile some researchers claimed that the remedies or herbal or plant-based drugs have therapeutic substances which help to prevent virus infection to some degree. Therefore, the surge in demand for plant extraction equipment was recorded during the pandemic. This resulted in steady growth throughout the global health crisis and it is projected that it will contribute to the plant extraction equipment market growth during the projection time frame.
Latest Trends
"Re-Sale of the Products can Create Immense Opportunities for Sustainable Business Models for Long Term Profit "
The trend for plant extracts is gaining traction among various end-use industries due to its variety of advantages and usage in several application segments which include food and beverage, medicines and health products, cosmetics, feed, and feed additives. The plant extracts are used in food and beverage to enhance nutrient benefits. Also, the demand for cosmetics products which include herbal substance and organic ingredients are gaining popularity among customers which fuel the opportunities for the vendors to sell more and more equipment to the operating companies. The medicine or pharmaceutical industry is the highest lucrative industry for the plant extracts equipment market during the forecast period. Consequently, the expansion of the market is anticipated to propel the growth of the industry in the coming years.
Plant Extraction Equipment Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Traditional Extraction, Ultrasonic Extraction, and Supercritical Extraction.
- By Application Analysis
Based on application, the market can be divided into Food and Beverage, Medicines and Health Products, Cosmetics, Feed and Feed Additives, and Others.
Driving Factors
"Rising Awareness of Therapeutic Properties of Plant Extracts Accelerate Market Growth "
The plant extraction equipment market is driven by key factors such as an increase in the number of health-conscious people, growing awareness of the therapeutic properties, and a rise in the vegan trend are the aspects of the market which are anticipated to grow the market in over the forecast period.
"Prohibition of Food and Drug Administration on Synthetic Products Fuel the Growth of the Market "
In addition, another driving factor of the market is the FDA's ban on synthetic colouring, and government investment in R&D efforts to raise consumer awareness of the benefits of natural ingredients and extracts are expected to impact the plant extract equipment market's growth remarkably.
Restraining Factors
"High Cost of Equipment and Requirement for Skilled Workers May Impede the Growth of the Market"
The high price of plant extraction equipment may not be affordable for small vendors. Along with this, skilled workers are required to operate these extractions equipment and the maintenance cost of this equipment is also high. Therefore, these factors can obstruct market growth.
Plant Extraction Equipment Market Regional Insights
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"North America Leads the Market Due to Rising Awareness of Health Consciousness among Consumers "
In terms of regional insights, the plant extraction equipment market is expected to be dominated by the North American region during the projection period. The increase in the number of health-conscious consumers is the key factor to drive the market in the region. U.S. and Canada are the leading countries in the continent due to advanced healthcare infrastructure, techniques, and awareness of the pros and cons of drugs among the general population.
Key Industry Players
"Key Players’ Collaboration with End Use Industry to Gain Highest Profit of the Market Competitive Strength"
The prominent players in the market are availing the opportunities based on the segmentations, and product specialization, such as food and beverage, medicines and health products, and cosmetics, which are the vast application segments that create an abundance of lucrative opportunities for the product suppliers in the end-use industry. Along with this, the major players collaborate with small and medium enterprisis, and partnership with existing players to expand market revenue. Acquisition, mergers, and capital investment in advanced technology to improve the quality and efficiency of the equipment are the tactics to gain the highest profit in the market that are used by the key players of the industry. Some of the top companies such as Nantong Huaan, Alfa Laval, Truking Technology, Eden Labs, Better-industry, Accudyne Systems, Tetra Pak, Sanyukiki, Cheersonic, Cedarstone Industry, GEA, and Amar Equipments, and others are the leading players of the market and influencing the growth of the market based on their highest market revenue. The plant extraction equipment market shares are largely held by these top companies in the market.
List of Market Players Profiled
- Nantong Huaan
- Alfa Laval
- Truking Technology
- Eden Labs
- Better-industry
- Accudyne Systems
- Tetra Pak
- Sanyukiki
- Cheersonic
- Cedarstone Industry
- GEA
- Amar Equipments
Report Coverage
This report concentrates on the plant extraction equipment market. It highlights the market value, expected CAGR, and USD value over the forecast period. The COVID-19 impact on the market at the beginning of the pandemic and the post-pandemic effects on international market restrictions and how the industry is going to turn the corner are also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future.
This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 2658 Million in 2021 |
Market Size Value By |
US$ 5 Million by 2031 |
Growth Rate |
CAGR of 7.28% from 2021 to 2031 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global plant extraction equipment market expected to touch by 2031?
The global plant extraction equipment market is expected to touch USD 5,383.72 million in 2031.
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What CAGR is the plant extraction equipment market expected to exhibit during 2021-2031?
The plant extraction equipment market is expected to exhibit a CAGR of 7.28% over 2021-2031.
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Which are the driving factors of the plant extraction equipment market?
The variety of applications in the end-use industry and growing awareness of health consciousness is the driving factors of the plant extracts equipment plant extraction equipment market.
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Which are the top companies operating in the plant extraction equipment market?
Nantong Huaan, Alfa Laval, Truking Technology, Eden Labs, Better-industry, Accudyne Systems, Tetra Pak, Sanyukiki, Cheersonic, Cedarstone Industry, GEA, and Amar Equipments are top companies operating in the plant extraction equipment market.
