Plant extract refers to the product formed by taking natural plants as raw materials, through the process of extraction and separation, directional acquisition and concentration of one or more active components in plants without changing the structure of the active components. Plant extract is an important natural product, and its application covers many fields such as medicine, health care product, food and beverage, condiment, dietary supplement, cosmetic and feed additive.
Market Scale
Chinese plant extract industry is influenced by traditional Chinese medicine culture and has unique development advantages. At the same time, with the rapid growth of global demand for plant extracts, the market size of Chinese plant extracts industry also presents a growing trend. According to the global market size of plant extracts in recent years and the proportion of Chinese market size, the market size of Plant extracts in China reached 34.2 billion yuan in 2019, and it is estimated that the market size of plant extracts in China will reach 44 billion yuan in 2022.
Import and Export Information
As a major exporter of plant extracts in the world, China's export of plant extracts has been on the rise in recent years, hitting a record high of 16.576 billion yuan in 2018, up 17.79 percent year-on-year, according to the China Chamber of Commerce for Pharmaceutical Products Importers and Exporters. In 2019, due to the impact of the Sino-US trade war, the annual export of plant extracts was 16.604 billion yuan, with a year-on-year growth of only 0.19%. In 2020, although affected by the epidemic, it also stimulated consumers' demand for plant extracts from natural sources. In 2020, China exported 96,000 tons of plant extracts, up 11.0% year on year, with a total export volume of 171.5 DOLLARS, up 3.6% year on year. From January to June 2021, China's total export volume of plant extracts was 12.46 billion yuan.
North America, Asia and Europe are the major consumer markets for plant extracts worldwide. According to the statistics of China Medical Insurance Association, the top 10 countries and regions of China's plant extract exports in 2020 were the United States, Japan, India, Spain, South Korea, Mexico, France, Germany, Hong Kong, Malaysia, among which the exports to the United States and Japan accounted for 25% and 9% respectively.
Future Development Prospect
1. Industry belongs to the field of policy support, which is in line with the direction of future industrial development
As after finishing, deep processing of natural plant products, plant extract can effectively improve the added value of the natural plant industry, its application field will help promote the raise of people's living standard and improve, therefore, it has received the support of national policy, for example, "the national medium and long-term science and technology development plan outline (2006-2020)" made clear that "Focus on research and development of major agricultural products and agricultural and forestry specialty resources deep and clean ecological processing technology". Benefiting from market demand and policy support, the plant extraction industry has a promising future.
2. The product is widely used and has a large market demand
The application of plant extracts covers many fields such as medicine, health food, dietary supplement, cosmetics and so on, which has good application and large market space. Moreover, with the improvement of scientific and technological level and production process, new extracts continue to emerge, and new application scenarios of known extracts continue to be extended, and the market demand for plant extracts will also expand. In addition, plant extracts have natural properties, which conform to the concept of returning to nature of consumers today. Pollution-free green products have huge development space and broad market prospects at home and abroad.
3. The market influence of leading enterprises will continue to expand with their competitive advantages
With the change of market competition, industry practitioners are faced with the development problem of ensuring product quality and stable supply, and maintaining and consolidating market position by means of technological research and development and capacity expansion. Therefore, the leading enterprises in the industry with its market, product, scale and cost advantages, is conducive to seize market opportunities, seize market share, so as to continue to expand market influence. In addition, since export plays an important role in China's plant extracts market, and it takes a certain period of time to be familiar with international trade rules and understand the characteristics of different regional markets, experienced practitioners who are already engaged in multi-country trade will benefit from the first-mover advantage.
