The scale of my country's plant extract industry continues to grow and develop

2024.12.18

Plant extracts mainly refer to substances extracted or processed from plants (all or part of plants) as raw materials using appropriate solvents or methods, which can be used in the pharmaceutical industry, food industry, daily chemical industry and other industries. There is a conceptual overlap between plant extracts and Chinese herbal medicine extracts. The raw materials of plant extracts in my country mainly come from Chinese herbal medicines, so domestic plant extracts can also be called Chinese medicine extracts to a certain extent, and are generally included in the category of Chinese medicine products in my country's export trade statistics.

Plant extracts can be divided into three categories according to the content of active ingredients: effective monomer extracts, standard extracts and ratio extracts; according to the ingredients, they can be divided into glycosides, acids, polyphenols, polysaccharides, terpenes, flavonoids, alkaloids, etc.; according to the product form, they can be divided into plant oils, extracts, powders, lenses, etc.; according to the use, they can be divided into natural pigment products, Chinese medicine extract products, extract products and concentrated products.

1. The scale of plant extracts in my country continues to grow and develop, and the market size is expected to exceed 60 billion yuan by 2025

The development of my country's plant extract industry started late, and it only began to develop in the 1970s, and in the early days it was only a link in drug production. It was not until the 1990s, with the rise of foreign trade, that my country really entered the starting stage of the plant extraction industry, and gradually began to use more efficient extraction methods such as enzymatic extraction, ultrasonic extraction, supercritical extraction, and membrane separation technology. Then in the 21st century, as plant extraction technology entered the mature stage of industrialization and was widely adopted by the market, my country's plant extract market entered a golden development period, and the scale continued to grow and develop. Data show that in 2023, the scale of my country's plant extract market reached nearly 45 billion yuan, and it is expected that by 2025, this market size will exceed 60 billion yuan.

2. The status of local enterprises in the international arena has become increasingly prominent, and foreign trade exports have maintained a relatively high growth rate for ten years

After years of development, my country's plant extract industry has continued to grow and develop. So far, the status and role of local enterprises in international trade and division of labor and cooperation have become increasingly prominent, and foreign trade exports have maintained a relatively high growth rate for ten years. Plant extracts, as the main raw material products in the import and export categories of Chinese medicine in my country, account for 50% of the foreign trade of Chinese medicine. From the perspective of exports alone, plant extracts account for 60%. In 2023, my country's export volume will be US$3.32 billion, a year-on-year decrease of 6%, and the global market share will exceed 20%, ranking first in the world. The import volume is only US$680 million, a year-on-year decrease of 12%. It can be seen that my country's plant extracts are currently mainly used for export, and the import and export market shows a trade surplus.

3. The product has a wide range of application areas and has broad development prospects in the future

According to the "Research on the Development Trend of China's Plant Extract Industry and Future Prospects Forecast Report (2024-2031)" released by Guanyan Report Network, the application areas of plant extracts cover medicine, health food, dietary supplements, cosmetics and other fields, with good application ductility and a large market space. Moreover, with the improvement of scientific and technological levels and the improvement of production processes, new varieties of extracts continue to emerge, and new application scenarios of known extracts are also continuously extended, and the market demand space for plant extracts will also expand accordingly. It can be seen that with the continuous expansion of the application areas of plant extracts, the continuous development of the downstream market will bring broad market demand.

At present, from the distribution pattern of downstream application fields of the plant extraction industry, according to relevant data, food and beverages (nutritional supplements/health products) account for the largest proportion in the application field of the plant extraction industry, accounting for as much as 45%. The second is herbal preparations and cosmetics, accounting for 26% and 12% of the application fields of the plant extraction industry respectively.

1. Health products

According to Article 3.1 of GB16740-97 "General Standard for Health (Functional) Foods", health food is defined as: "Health (functional) food is a type of food that has the common characteristics of general food, can regulate the functions of the human body, and is suitable for consumption by specific groups of people, but not for the purpose of treating diseases."

In recent years, with the improvement of people's living standards, the requirements for quality of life have become higher and higher, health awareness has increased, and people's demand for health products has gradually increased, making the market show a continuous growth trend. Data show that in 2022, the market size of my country's health products industry will reach 298.9 billion yuan, a year-on-year increase of 10.4%. By 2023, the market size of my country's health products will increase to 328.3 billion yuan.

2. Cosmetics

In recent years, thanks to the improvement of people's consumption level, the cosmetics track has been booming and developed rapidly. Although in 2020, with the arrival of the epidemic, all walks of life have been affected to a certain extent, and the market size of the cosmetics industry has fallen below 400 billion. However, as the epidemic was gradually brought under effective control, coupled with the rapid rise of e-commerce live broadcast platforms, the cosmetics industry market has gradually recovered. At the beginning of 2021, the State Food and Drug Administration officially announced that China has become the world's second largest cosmetics consumer market. According to data from the National Bureau of Statistics, my country's cosmetics retail sales will reach 414.2 billion yuan in 2023. The cosmetics industry is in a window period of rapid development and has become one of the "five major consumer hotspots".

3. Medicine

The pharmaceutical industry is an important part of my country's national economy and is a combination of traditional and modern industries. Since the "Twelfth Five-Year Plan", due to the continuous release of demand driven by economic development and medical system reform, my country's total output value of the pharmaceutical industry has maintained rapid growth, and China has become the world's largest emerging pharmaceutical market. According to data from the National Bureau of Statistics, in 2023, my country's pharmaceutical manufacturing enterprises above designated size will achieve operating income of 2520.57 billion yuan and total profits of 347.30 billion yuan.

To sum up, with the continuous development of downstream markets such as health products, medicines, and cosmetics, the market demand for my country's plant extract industry will also be driven to grow.

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