Plant extracts are widely used as raw materials in food, Traditional Chinese medicine, health food, daily chemical products, cosmetics, and aquaculture inputs. There are more than 300 varieties of plant extracts in China, and the export of plant extracts grew rapidly from only $50 million in 1997 to more than $2.7 billion in 2019, accounting for 20% of the global market from less than 3% in 1997. At present, there are more than 2000 enterprises engaged in the import and export of plant extracts in China, and more than 50 enterprises have exported more than 10 million DOLLARS.
In 2019, the global plant extracts market reached 23.7 billion yuan and is expected to reach 59.4 billion yuan in 2025, with a compound growth rate of 16.5% from 2019 to 2025. Over the past decade, the global development of plant extracts average growth rate of about 5%, as people concern about synthetic additive effects, plant drugs, and herbal extracts to enhance understanding of health benefits, and plant extracts research and development activities of growth and the popularity of convenience foods, food, and beverage industry is also growing demand for plant extracts. Therefore, the market for plant extracts will grow rapidly in the future.
The problem of sustainable utilization of Chinese medicine resources is becoming more and more serious as foreign enterprises compete to purchase Chinese medicine resources and extracts at low prices. In recent years, plant raw materials have become a new favorite in the world's API market, promoting the development of plant raw materials worldwide upsurge, some international pharmaceutical multinational companies have moved their eyes to resource countries. The export of the Chinese plant extract industry accounts for more than 80% of the total revenue of the industry, and export is the main way to drive the development of the plant extract industry. According to relevant data statistics, the market has a high preference for natural food ingredients and medicines, and the development prospect of Chinese plant extracts is good. With the continuous introduction of favorable industrial support policies, the industry will continue to maintain rapid development, and the industry scale is expected to reach 34.122 billion yuan by 2022.