인도의 추출물 시장 규모는 2024년에 67억 2,000만 달러로 평가되었고, 2024년부터 2032년에 걸쳐 13.38%의 연평균 복합 성장률(CAGR)로 성장하여 2032년에는 183억 6,000만 달러에 달할 것으로 예측되고 있습니다. 시장을 견인하고 있는 것은 소비자의 의식의 증가, 라이프 스타일의 변화, 천연 성분을 사용한 제품의 소비 확대, 바이오 테크놀로지 분야의 개발이라고 하는 요인입니다.
또한 소비자의 소득 증가, 연구개발, 수출입, 농업 부문 확대, 노인 소비자 증가, 인구 증가 등 거시경제 변수의 결과로 천연추출물 수요는 지난 수년간 증가하고 있습니다. 천연 추출물은 음식, 화장품, 향수, 의약품, 영양 보조 식품 등 다양한 산업에서 인기를 끌고 있습니다.
추출물이 전면에 나오기 때문에 가공 식품 제조 업체는 지속적으로 신제품을 출시하고 새로운 지역에 진출하고 있습니다. 2022년 12월, 인도 웨스트 벵골의 칵테일 믹서 제조업체인 Sober and Co사가 벵골 규칙으로 제품을 출시했습니다. 또한 캐나다에 본사를 둔 미용·화장품 회사 The Ordinary는 2022년 6월 인도로 진출하여 스킨케어 치료제품 및 미용액 제공을 시작했습니다. 이 사업 확대는 다양한 지역에서의 사업 확대라는 회사의 장기 전략 계획을 기반으로 합니다.
위에 언급된 회사는 시장 점유율에 따른 순위를 보유하지 않으며 조사 작업 중 이용 가능한 정보에 따라 변경될 수 있습니다.
The India Extract market size was estimated at USD 6.72 billion in FY2024 and is projected to reach USD 18.36 billion in FY2032, growing at a CAGR of 13.38% from 2024 to 2032. The market is being driven by factors such as increasing consumer awareness, changing lifestyle, increasing consumption of products made from natural ingredients, and developments taking place in biotechnology sector.
The demand for natural extracts has also increased over the past few years as a result of macroeconomic variables such as increasing income of consumers, R&D, imports & exports, expansion of the agriculture sector, increasing number of geriatric consumers, and population growth. Natural extracts are becoming popular across different industries such as F&B, cosmetics, perfumes, medicines, and nutraceuticals.
With extracts being on a front seat, processed food manufacturers are continuously launching new products and expanding to new geographies. In December 2022, Sober and Co, an India based cocktail mixer manufacturer from West Bengal launches their products in Bengaluru. Also, The Ordinary, a Canada based beauty and cosmetics company entered India in June 2022, and started providing skincare treatment products and serum. The expansion is based on the company long-term strategic plan of expansion in various geographies.
Increasing Demand for Herbal Extracts-Based Healthcare Products
Numerous health disorders and medical conditions are now more common than ever before due to increasing geriatric population and widespread pollution. Due to the growing number of ailments such as cancer, digestive disorders, obesity, diabetes, premature hair ageing, hair loss, and skin issues, there is a greater demand for effective and safe therapy. Herbal extracts are rich in carotenoids and polyphenols; hence they are effective in treating aforementioned conditions.
Indian companies are trying to utilize India's rich traditional herbal extracts knowledge to create & launch new products in the country. In September 2022, Diabliss Consumer Products Pvt Ltd, an India based food and herbal water supplements provider, announced 10 new herbal water products to be launched by December 2023 in the country; all the 10 products are getting designed to combat cholesterol, diabetes and other health related issues.
Herbal Beverages: A Growing Trend in India's Extracts Market
One of the significant trends in the Indian extracts market is the increasing use of herbal ingredients in functional beverages. Rising awareness about the health risks associated with synthetic additives and artificial sweeteners has shifted consumer preferences towards natural and healthy alternatives. Leading the way is the CSIR-National Botanical Research Institute (NBRI) with its launch of Pio in July 2024, a 100% plant-based herbal soft drink. Pio is a blend of traditional herbs like mulethi, giloy, ashwagandha, and punarnava, fortified with health-promoting attributes such as hepatoprotective and antioxidant properties. By using extracts derived from these herbs, NBRI has created a beverage that not only matches the taste of synthetic soft drinks but also offers health benefits. The product, which contains no artificial sweeteners, caffeine, or preservatives, is a patented innovation and represents a modern nutraceutical approach rooted in traditional knowledge. This initiative has set a benchmark in the industry, showcasing the potential of plant-based extracts in creating healthy beverage alternatives.
Increasing Demand for Neem Based Extract for Bio-Based Pesticides and Fertilizers
The market for organic pesticides and fertilizers has significantly grown as a result of growing public awareness pertaining to usage of neem extracts in pesticides and fertilizers. Neem is a key component in majority of bio-based goods; hence the demand for neem extract is also increasing. Neem extract is also used in plant-based foods for animals.
Government Scheme
Consumers are becoming more aware about the benefits of natural components and extracts. Governments and many organizations around the globe have started prioritizing R&D in this segment. India has a natural abundance of therapeutic and medicinal plants and is actively encouraging production of herbal-based products. Government of India initiated Ministry of AYUSH in 2014, to assist market-driven production of selective medicinal plants in specified clusters/zones.
Impact of COVID-19 on India Extracts Market
India is a major producer and exporter of extracts, including spices, herbs, and essential oils, but the pandemic has disrupted supply chains and led to a decline in demand from both domestic and international markets. The nationwide lockdowns and restrictions on travel and trade have led to logistical challenges and supply chain disruptions, affecting the sourcing and distribution of raw materials and finished products. The closure of hotels, restaurants, and food service industries has also significantly impacted demand for extracts, particularly in the hospitality sector. Moreover, the shift towards online shopping and e-commerce platforms has been a boon for some players in the extracts market, allowing them to reach consumers directly and bypass traditional distribution channels.
Key Player Landscape and Outlook
The market will witness growth in the near future as major market participants spend a significant amount of money on R&D to diversify their product lines. Market participants are engaging in a variety of strategic initiatives to strengthen their product portfolio. In March 2023, Nutricircle Limited launched a new plant protein isolate range including rajma, moong, jowar, quinoa, bajra, amaranth, etc. The company had spent thousands of dollars in R&D to establish these products and showcased/launched them at AAHAR 2023 event held in New Delhi, India.
Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work