Medicinal Plant Extracts Market Scenario, Growth Opportunities and Forecast 2024

Medicinal Plant Extracts Market is growing due to increasing demand for herbal medicines and ayurveda & homeopathic products because of changes in consumer behavior thus influencing the growth of this market. Increasing acceptance of medicinal plant extracts based products due to rising awareness as well as health concerns is Also one of the key factor driving the growth of the global medicinal plant extract market.Also, increasing demand for natural skincare products containing medicinal plant extracts is also a major factor in the growth of this market.Major market dispersion has led to the introduction of new products based out of the medicinal plant extracts and their retail across various regions.

The market players are responding to these new opportunities by expanding their service offerings / product lines, which has fuelled up the share of medicinal plant extracts in the global market.Add, the augmentation of the product development together with research advancements are other significant reasons for Therefore, along with changing consumer preferences, the growth of global plant extract market is significantly increasing during the forecast period of 2017-2023.

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Competitive Analysis

Some of the Key Players in the Global Medicinal Plant Extracts Market are

Phytovation (UK)

Sigma-Aldrich Co. LLC (US)

Plant Extracts International Inc. (US)

• Organic Herb Inc. (China)
• Arjuna Natural Extracts LTD (India)
• Indfrag (India)
• KANCOR (India)

The demand for Medicinal Plant Extracts has pushed manufacturers to innovate and develop new product lines, which provide better quality and offers various health benefits.

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Downstream Market Analysis

Changing consumer preferences is the key factor for the growth of this market. Furthermore, the admiration of medicinal plant extracts and its involvement in medicines and cosmetics is increasing the growth of this market. Rising awareness towards health and natural skincare products as well increasing demand for dietary supplements is expected to play a significant role in the growth of this market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the medicinal plant extracts market during the forecast period 2017-2023.

Regional Analysis

Global Medicinal Plant Extracts Market is regionally segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW) .Asia Pacific has developed as the dominant region followed by North America for the medicinal plant extracts market. Growing health benefits coupled with rise in demand for personal care products has strengthened the growth of global medicinal plant extract market and hence is expected to significantly expand the revenue contribution of the market during the forecast period.In Asia Pacific, owing to ancient history of herbal and natural remedies for diseases , will drive the growth of this market in this region.However, in the Asia Pacific region, significant growth is expected in China and India due to increasing health concerns as well as wide ranging medical uses, over the forecast period 2017-2023.

Smart Kitchen Appliances Market Scenario, Growth Opportunities and Forecast 2024

Smart kitchen appliances are regular kitchen appliances integrated with advanced technology. The appliances are capable of connecting to various available technologies such as wireless network, Wi-Fi system, Bluetooth, and others and run on the inbuilt intelligence system. With developing economic conditions, consumers are found to adapt to various unique technologies to make their cooking more convenient and time-saving. Manufacturers have developed various appliances including smart fridge, ovens, smart weighing scales, intelligent pans and others which have not only made the cooking experience better but have also resulted in power saving across the globe.

Market Forecast:

North America and Europe market for Smart Kitchen Appliances Market Demand have witnessed continued demand during the last few years and is projected to reach USD 5906.78 Million in North America and USD 5595.05 Million in Europe by 2023. Developing economy and consumers’ adoption of modern lifestyle and technology trends are likely to increase smart kitchen appliances’ market share in these two major regions. Increasing disposable income and consumers’ inclination to cope up with the social dynamics also have a positive impact on its market growth.

Based on the product-type, intelligent pans will witness the highest growth rate (~19.64%) in Europe and (~18.87%) in North America. By 2023, intelligent pans and instant pots will witness high growth rate among the various smart kitchen appliances type due to its diverse cooking based applications and the high demand for the household cooking purpose. Combination ovens will contribute to the largest market share in smart kitchen appliances. Instant pot will grow at a growth rate of 18.75% in North America and 19.30% in Europe and is anticipated to hold a significant share in the North America and Europe smart kitchen appliances market.

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By Downstream Analysis:

By 2023, smart combination ovens will reach a market value of more than USD 1,000 Million in both the regions. Dual application and convenience usage of combination ovens are having a positive impact on its market. Based on the application, the residential application is anticipated to hold the lion’s share of North America and Europe smart kitchen appliances market owing to the high demand for smart household appliances.

Wireless sensor networks will carry the major share of technology-type in smart kitchen appliances owning to technology developments. Bluetooth will secure the second position concerning market share based on technology type. Bluetooth technology is expected to grow at a CAGR of 18.91% in Europe and 18.23% in North America. Among the store-based distribution channel, specialty retailers will hold the highest market share of more than 25% in both the regions.

Competitive Analysis:

The major key players in smart kitchen appliances market are

• Breville Group Ltd.
• AB Electrolux
• Hamilton Beach Brands, Inc.
• Robert Bosch GmbH
• Whirlpool Corp.
• Samsung Electronics Co., Ltd.
• Tovala
• Vorwerk Elektrowerke GmbH & Co. KG
• Hestan Cue, Inc.
• Lakeland Limited
• Etekcity Corporation

Key players are focused majorly on new product launch to expand their business of smart kitchen appliances products and it accounts for more than 34% of the overall strategy share by key players from last few years. Acquisition and partnerships are the main factors, which are contributing more than 51% of strategy share and is facilitating the companies to penetrate the potential market across globe.

Regional Analysis:

Among the regions, North America will continue to dominate the smart kitchen appliances market with more than 50% market share and it is projected to reach more than USD 5,906 Million with CAGR of 18.08% by 2023. Europe will witness the highest growth rate (~18.82%) during the forecast period 2017-2023. Growing popularity of smart kitchen appliances owing to their power saving capacity and eco-friendly technology is supporting their market growth in North America and Europe. Developing economy and increasing disposable income are playing a key role in the smart kitchen appliances market growth from the last few years.

Organic Tissue Paper Market Scenario, Growth Opportunities and Forecast 2024

Organic tissue paper are majorly used for facial application by skin sensitive consumers. Globally, organic tissue paper made with recycled pulp and bamboo pulp are in huge demand which is driving the introduction of new products under this category. Majority of organic tissue paper are sold one or two layered. Changing lifestyle and increasing awareness among consumer about use of products which are naturally biodegradable is boosting the sales of organic tissue paper since last few years.

Market Forecast:

Globally the Organic Tissue Paper Market Size is estimated to escalate at a higher growth rate which is supported by increasing demand of naturally biodegradable personal care products. Rising application of organic tissue paper for facial application is supporting the market growth. Availability of different product type and improved distribution channel is playing the key role for organic tissue paper market growth.

All these factors contribute to the calculated CAGR of 4.2% of organic tissue paper market during 2017-2023.

Downstream Analysis:

Organic tissue paper is popular among skin sensitive consumer and majorly used as disposable paper that are suitable for facial application. The use of organic tissue paper for treatment of minor wounds, cleaning hands and cleaning spectacles is influencing the sales of organic tissue paper since last few years. Key players are introducing the organic table napkins and wrapping tissues to expand their product portfolio. Increasing awareness among consumers about organic and biodegradable products is encouraging the manufacturers to invest more in organic tissue paper.

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Competitive Analysis:

The major key players in Organic Tissue Paper market are:

• Greenline Paper Company (U.S.)
• Regent Kimya (Turkey)
• Tropicana Food and Beverages Gmbh (Germany)
• BHK Krakow (Poland)
• Shanghai Xuanjie Trade Co., Ltd (China )
• Zhangzhou Lianan Paper Co., Ltd. (China)
• Weroca Kartonagen Gmbh (Germany)

Regional Analysis:

The Global Organic Tissue Paper market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). North America region is estimated to dominate the market followed by Asia Pacific region. U.S. and Canada are major organic tissue paper producers in the North American region. U.S. dominates the market in this region due to increasing demand of organic personal care products. Availability of raw material and huge consumer base is driving the organic tissue paper market in the Asia Pacific region especially in developing countries like China and India. Improvement in production technology and growing organic products trend in the Europe region is playing key role to boost the market growth.

Organic Saffron Market Scenario, Growth Opportunities and Forecast 2024

Organic saffron is produced by applying organic farming methods that do not use harmful fertilizers and chemicals during agriculture. The growing acceptance of a healthy lifestyle by consumers encourages farmers to adopt organic farming.

The Organic Saffron Market Demand is expected to reach $ 395.15 million by 2024, with a compound annual growth rate of 6.10% for the 2019-2024 forecast period, according to the Market Research Future. The global organic saffron market has grown considerably in product launches. Major manufacturers are introducing new products in different countries to accept organic saffron. However, the higher price of organic saffron compared to conventional saffron should limit the growth of the global organic saffron market during the forecast period.

The saffron market is expected to experience strong growth, driven by growing demand from the food and beverage industry. Growing demand for saffron in the foods of various cuisines around the globe as an essential ingredient in culinary dishes is the driving force of the market. In addition, the growth of the global restaurant sector is likely to boost the size of the saffron market. Moreover, growing awareness about the adulteration in spices and other food products is estimated to uplift the demand rate of the organic saffron.

Industry Updates

Organic Agro Exports from Iran bagged $43 million in the previous year. According to Reza Nourani, chief of Iran Organic Association large number of organic products was exported in the previous year from Iran comprised saffron, pistachios, figs, dates, and medicinal plants.

Industry Segmentation

The global organic saffron market is segmented by shape and distribution channels.

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Regional Outlook

The Asia Pacific region is projected to sustain its dominant position during the forecast period 2019-2024, both in value and volume. The growth of the organic saffron market in the region must be driven by several factors. Increased consumer awareness of health problems in the Asia Pacific region is expected to bolster the growth of the organic saffron market over the forecast period. Demand for organic saffron is increasing among consumers due to its use in different desserts in different countries. Organic saffron consumption is high in China, India, and Indonesia. Moreover, owing to suitable farming conditions in Middle East, particularly in the GCC countries and Iran the export volume of organic saffron has drastically increased.

Key Players

Some of the leading players operating in the global organic saffron market include Tatva Health & Wellness Private Limited, Rowhani Saffron Co., Mehr Saffron, Organic India, Inc., Frontier Natural Products Co-op., Spicely Organics, Alpen Food Group, Epicure Garden, Noor Brand Saffron, and Valgosa S.L. Manufacturers are majorly adopting various other strategies in terms of agricultural innovations, manufacturing process enhancements, and regional expansions at favorable trade conditions. This trend has uplifted the growth of the global saffron market.

Edible Oils and Fats Market Scenario, Growth Opportunities and Forecast 2024

Edible Oils and Fats market is projected to grow at 4.56% during the forecasted period 2017 to 2023. APAC region is estimated to dominate the market with more than 50% of market share in the year 2017 followed by Europe. Europe will witness higher growth rate in savory snacks application of oils and fats during the forecast period due to increasing consumption of meat and other snacks products. APAC holds major market share in bio-diesel application and it projected to reach 26,649 kilo tons with CAGR of 5.49%. Europe will witness higher growth rate in bio-diesel application of oils and fats during the forecast period.

Market Forecast

Global Edible Oils Market is projected to reach 298,522 kilo tons by 2023 with CAGR of 4.56% in terms of volume. Palm oil and soybean oil together holds more than 45% of market share in the year 2017. Corn oil will witness higher growth rate during the forecast period due to increasing demand of corn oil from industrial application. The plant source edible oil and fats holds more than 80% of market share in 2017 as majority of edible oils and fats are made from plant source across world. Animal source fats will witness steady growth rate during the forecast period. There are many types of oils and fat available in market as each one has its unique characteristics which attracting number of consumers across the globe. Industrial uses of edible oil and fats such as Bio-fuel has boosted the market and will continue to contribute in market growth during forecast period.

By Application Analysis-

Globally, table consumption application of edible oil and fats holds major market share in 2017. APAC holds major market share in table consumption application due to presence of large population in Asian Countries especially in China and India. Europe will witness higher growth rate in table consumption application of oils and fats during the forecast period. APAC holds major market share major market share in bakery and confectionery application and it is projected to grow with CAGR of 4.81%. Europe will witness higher growth rate in bakery and confectionery application of oils and fats during the forecast period.

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Competitive Analysis-

The major key players in Global Edible Oils and Fats Market are

• Archer-Daniels-Midland Co. (U.S.)
• Associated British Foods Plc. (U.K.)
• Wilmar International Ltd (Singapore)
• Bunge limited (U.S.)
• Adani Wilmar Ltd (India)
• Cargill, Inc.(U.S.)
• Ajinomoto Co., Inc. (Japan)

Regional Analysis

The Global Edible Oils and Fats market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Among this Asia Pacific has the major market share followed by Europe. Asia Pacific region is expected to maintain its dominant position in upcoming years due to the growing demand, rising awareness and increasing adoption of innovative edible oils and fats in varied application sectors. Indonesia will witness higher growth in edible oils and fats market during the forecast period (2017 to 2023) due to increasing production of palm oil and its huge demand across the globe. Mexico and Germany are one of the fastest growing countries in edible oils and fats market in the world as increasing demand for high quality edible oils playing the key role