by The perilla extract is extracted from perilla frutescens plant which is rich in phytonutrients like alpha-linolenic acid, flavonoids, rosmarinic acid etc. The extract finds wide usage in various industries including pharmaceuticals, food and beverages and dietary supplements. It is increasingly used as an alternative to fish oil due to its rich omega-3 fatty acid content. In pharmaceuticals, it is used in supplements for depression, arthritis, respiratory conditions and other inflammatory diseases owing to its anti-oxidant and anti-inflammatory properties.
The global perilla extract market is estimated to be valued at US$ 1.33 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The perilla extract finds major demand from pharmaceutical manufacturers for producing supplements, capsules and tablets. Its anti-oxidant and anti-inflammatory properties help in treating various diseases like depression, arthritis and respiratory conditions. Further, with rising lifestyle diseases and growing health awareness, people are increasingly opting for herbal supplements over prescription medicines. This is expected to boost the demand for perilla extract from pharmaceutical manufacturers over the forecast period.
Owing to potential side-effects of chemical based drugs, consumers nowadays prefer herbal supplements over prescription medicines. The perilla extract is gaining popularity as a herbal medicine and supplement ingredient due to various health benefits. Also, it is a viable and sustainable alternative to fish oil supplements. Increasing consumer preference towards herbal and plant-based products is estimated to propel the market growth of perilla extract.
Segment Analysis
The global perilla extract market can be segmented based on product, application and region. Based on product, the market is dominated by perilla seed oil segment. Perilla seed oil is considered superior to other seed oils as it contains high levels of alpha-linolenic acid, an omega-3 fatty acid which helps in various health benefits like heart health, anti-inflammatory properties, improved brain health etc. This has increased its demand from the healthcare and pharmaceutical industries.
PEST Analysis
Political: Regulations around usage of essential oils in food products have been supportive for the growth of perilla extract market. Many governments encourage usage of herbal extracts over synthetic compounds.
Economic: Rising disposable incomes and growing health awareness have boosted perilla extract consumption globally. Its wide application scope across industries like food, personal care etc further aids the market expansion.
Social: Changing consumer preferences towards herbal and natural ingredients is a major factor. People prefer consuming food and personal care items containing plant-based additives for their perceived health benefits.
Technological: Advancements in extraction techniques have improved perilla extract yields. Also, innovations in product formulation help utilize perilla extracts across diverse applications.
Key Takeaways
The global Perilla Extract Market Growth is expected to witness high growth at a CAGR of around 15% during the forecast period of 2024 to 2031.
Regional analysis shows East Asia dominates currently due to rising demand from countries like China, Japan and South Korea. Key players operating in the perilla extract market are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, Qualcomm.
Key players operating in the perilla extract market are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, Qualcomm. These companies are focusing on new product development and portfolio expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
