by Market Overview:
The global Perilla Extract Market is estimated to be valued at US$ 1.15 billion in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Perilla extract is gaining popularity due to its numerous health benefits, including anti-inflammatory and antioxidant properties. It is widely used in food and beverage, pharmaceuticals, and skincare industries. The extract is known for its rich source of omega-3 fatty acids and essential nutrients.
Market Dynamics:
The Perilla Extract Market is driven by several factors. Firstly, the increasing consumer preference for natural products and growing awareness about the associated health benefits are propelling market growth. Consumers are seeking healthier alternatives to synthetic ingredients, leading to a rise in demand for natural extracts like perilla.
Additionally, the growing prevalence of chronic diseases such as cardiovascular disorders and cancer is driving the demand for functional foods and supplements containing perilla extract. The extract’s anti-inflammatory properties help reduce inflammation and improve overall health.
Moreover, the rising trend of clean label products and the demand for plant-based ingredients in the food and beverage industry are further propelling market growth. Perilla extract offers natural color and flavor to products without the need for artificial additives or preservatives.
Market Key Trends:
One key trend observed in the Perilla Extract Market is the increasing use of perilla extract in skincare products. The extract exhibits excellent moisturizing and anti-aging properties, making it a popular ingredient in beauty and personal care products. For instance, perilla extract is utilized in creams, serums, and masks to promote skin elasticity, reduce signs of aging, and nourish the skin.
SWOT Analysis:
– Strength: Perilla extract is a rich source of omega-3 fatty acids, essential nutrients, and antioxidants, making it highly beneficial for overall health.
– Weakness: Limited awareness about perilla extract and its benefits may hinder market growth, especially in emerging economies.
– Opportunity: Increasing consumer inclination towards clean label and natural products presents a significant growth opportunity for the Perilla Extract Market.
– Threats: Stringent regulations related to the extraction and processing of perilla extract may pose a challenge for market players.
Key Takeaways:
Market size related content:
The global Perilla Extract Market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period. The increasing demand for natural ingredients in various industries, such as food and beverage, pharmaceuticals, and skincare, is driving market growth.
Regional analysis:
North America is expected to be the fastest-growing and dominating region in the Perilla Extract Market. The region’s well-established food and beverage industry, along with the rising demand for functional foods, is contributing to market growth.
Key players:
Key players operating in the global Perilla Extract Market are Shaanxi Undersun Biomedtech Co., Ltd., Tocris Bioscience (Bio-Techne Corporation), BioOrigin, Nature’s Sunshine Products, Inc., Organic Herb Inc., Damin Foodstuff (Zhangzhou) Co., Ltd., Nutra Green Biotechnology Co., Ltd., Xian Yuensun Biological Technology Co., Ltd., Guangxi Yiyuan Biotechnology Co., Ltd., Changsha Heking Bio-Tech Co., Ltd., Hangzhou Botanical Technology Co., Ltd., Novoherb Technologies, Jiangsu Changhai Food Additive Co., Ltd., Xian Sost Biological Science & Technology Co., Ltd., and Xi’an Plant Bio-Engineering Co., Ltd.
In conclusion, the Perilla Extract Market is anticipated to experience significant growth due to the increasing demand for natural ingredients, the rise in chronic diseases, and the trend of clean label products. The use of perilla extract in skincare products is also contributing to market growth. North America is expected to dominate the market, and key players mentioned above play a crucial role in driving innovation and meeting consumer demand.
