The latest market report published by Credence Research, Inc. “Global Plant-Based Bioactives Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global Plant-Based Bioactives Market generated revenue of around USD 13.3 billion in 2022 and is anticipated to grow a CAGR of over 11.1% during the forecast period from 2023 to 2030 to reach around USD 27.58 billion in 2030.
Increasing investments in R&D activities and growing demand for dietary & health supplements are among the major factors driving the market growth. Moreover, rising awareness regarding the diverse applications of bioactive ingredients and growing manufacturing new plant-based nutraceuticals are some factors boosting the plant-based bioactives market. Additionally, growing consumer preference for vegan cosmetics and rising consumer expenditure on cosmetics and personal care products have also rose the demand for plant-based bioactives. Furthermore, shifting their diet and increasing their consumption of plant-based dietary supplements is also propelling the market growth.
The global plant-based bioactives market is bifurcated into Source, Application, End-Use, and Geography. Based on source, the market is categorized into fruits & vegetables, plants, legumes, and others. On the basis of application, the global market is segmented into flavonoids, phenolic acids, alkaloids, saponins, polysaccharides, and others. Based on end-use, the market is categorized into functional foods & beverage, dietary supplements, animal nutrition, personal care, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global plant-based bioactives market and accounted for major market revenue. This is majorly due to the rising preference for dietary & health supplements, the rising elderly population, and the growing use of plant-based bioactive agents in nutraceuticals. Moreover, the growing demand for functional ingredients and beverages is also propelling market growth.
One of the most significant trends in the plant-based bioactives market is the move towards natural and organic products. Consumers are becoming increasingly interested in products that are free from synthetic ingredients and that have a minimal impact on the environment. This has created opportunities for manufacturers of natural and organic plant-based bioactive products.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global Plant-Based Bioactives market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2017-2021, base year- 2022, and forecast period 2023-2030.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global plant-based bioactives market segmentation based on source, application, and end-use.
· The global Plant-Based Bioactives market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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