by The perilla extract market is estimated to be valued at US$ 1.15 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Perilla extract is derived from perilla frutescens and widely used in food and pharmaceutical products for its various health benefits. Perilla extract is commonly used as food additive, flavoring, and fragrance agent in products such as cookies, candies, and healthcare supplements. It contains various bioactive compounds such as rosmarinic acid, luteolin, and perilla aldehyde that exhibits antioxidant, anti-inflammatory and antibacterial properties.
Market Dynamics:
The growth of perilla extract market is majorly driven by its wide range of health benefits and growing demand from food & beverage industry. Perilla extract helps in managing various chronic diseases such as diabetes, cancer, cardiovascular diseases due to presence of antioxidants. It also aids in reducing symptoms of allergies, asthma, bronchitis and eczema due to anti-inflammatory properties. Furthermore, rosmarinic acid present in perilla extract helps lowering the risk of neurodegenerative diseases.
The increasing demand for phytochemical enriched products from health conscious consumers is expected to boost the adoption of perilla extract in functional foods and dietary supplements. Innovation in product offerings pertaining to flavors and fragrances using perilla extract will further support the market growth over the forecast period. However, availability of substitutes and regulations on content of bioactive compounds used in foods and supplements may hinder the market growth.
SWOT Analysis:
- Strength: Perilla extract has various health benefits such as antioxidant properties, anti-inflammatory properties and neuroprotective properties. It helps in managing diabetes, improving mood and reduces risk of cancer due to presence of various phenolic compounds. The market has witnessed increased application of perilla extract in food and beverages industry due to rising health consciousness.
- Weakness: Perilla extract has limited applications currently mainly used as food flavoring agent and dietary supplement. It is a niche product with limited consumer awareness about health benefits. Extraction process of active compounds from perilla leaves is complex and costly.
- Opportunity: Increasing consumer preference for herbal medicinal products and natural ingredients presents an opportunity for perilla extract market. Growing use of perilla extract in functional foods and beverages provides growth prospects. Rising incidences of chronic diseases will drive its demand for management of health conditions.
- Threats: Stringent regulatory guidelines for herbal extracts and supplements limit scope of product development. Market faces competition from other medicinal herb extracts and synthetic pharmaceutical drugs. Adverse weather conditions and climate change pose threats to perilla cultivation.
Key Takeaways:
The Global Perilla Extract Market Demand is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing health consciousness among consumers. The market size for 2023 is US$ 1.15 Bn.
Regional analysis: Asia Pacific dominate the global perilla extract market with over 40% share and will witness fastest growth during the forecast period due to rising perilla cultivation and processing in China, Japan and South Korea being the major producers. The region has established manufacturing facilities to cater to growing demand from food and nutraceutical industries.
Key players: Key players operating in the perilla extract market are 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., Xi’an Plant Bio-Engineering Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
