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.
Market Overview:
Perilla extract is derived from the leaves of the Perilla plant, which is native to East Asia. It is widely used for its numerous health benefits and culinary uses. Perilla Extract Market is rich in antioxidants, vitamins, and minerals, making it highly desirable in the pharmaceutical, food and beverage, and cosmetic industries.
The increasing awareness among consumers regarding the importance of consuming natural and organic products is driving the demand for perilla extract. It is known for its anti-inflammatory, antimicrobial, and anti-allergic properties, which make it useful in treating various health conditions such as asthma, allergies, and cardiovascular diseases.
Market Key Trends:
One key trend in the perilla extract market is the growing popularity of natural and herbal remedies. Consumers are increasingly seeking natural alternatives to pharmaceutical drugs due to concerns about side effects and long-term usage. The demand for perilla extract as a natural remedy for various health issues is expected to drive market growth.
For example, perilla extract is known to contain rosmarinic acid, which has been shown to possess antiviral properties and may be effective against certain viruses such as influenza. This has led to an increased interest in perilla extract as a potential natural remedy for viral infections.
PEST Analysis:
Political: The perilla extract market is influenced by government regulations and policies related to the cultivation, production, and export of herbal products. These regulations can impact the availability and pricing of perilla extract.
Economic: The economic factors such as GDP growth, inflation rates, and disposable income of consumers can affect the affordability and demand for perilla extract.
Social: The increasing awareness among consumers regarding health and wellness is driving the demand for natural and organic products, including perilla extract. Moreover, the preference for traditional and herbal remedies is also fueling market growth.
Technological: Technological advancements in extraction techniques and processing methods are enhancing the quality and potency of perilla extract. This is enabling manufacturers to develop innovative products with improved efficacy.
Key Takeaways:
– The global perilla extract market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing demand for natural and organic products. Consumers are becoming more conscious of their health and are seeking natural remedies for various ailments.
– Asia Pacific is expected to be the fastest growing and dominating region in the perilla extract market. The region has a rich history of traditional herbal medicine and a large consumer base that prefers natural remedies.
– Key players operating in the global perilla extract market include 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 global perilla extract market is set to experience significant growth in the coming years. Factors such as the increasing demand for natural and organic products, the popularity of herbal remedies, and technological advancements in extraction techniques are driving market growth. The Asia Pacific region is expected to be a key market for perilla extract, and key players in the industry are focusing on innovation and product development to meet the growing consumer demand.
