According to the research report titled ‘Global Herbal Extracts Market Size study with COVID-19 Impact, by Type (Saw Palmetto Extract, Milk Thistle Extracts, Horse Chestnut Extracts, Pygeum Extracts and Others), by Application (Health Care Industry, Pharmaceutical Industry and Others) and Regional Forecasts 2020-2026’, available with Market Study Report, global herbal extracts market is expected to register substantial growth during 2020-2026.
 

For the record, herbal extracts are plant extracts rich in active components like flavonoids, glycosides, phenols, volatile oils, tannins, alkaloids, and steroids, while having several medicinal properties. These compounds are found in several parts of a plant and are obtained by using various solvents such as chemicals, alcohol, or water which are appropriate for extraction process.
 

Increased pervasiveness of inflammation and rashes owing to rising consumption of synthetic chemicals along with extensive adoption of herbal extracts for producing functional foods, beverages and medicines are driving the market growth. Increasing awareness pertaining to therapeutic properties of herbs is also aiding the market expansion.
 

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Development of innovative products and strategic collaborations among market majors are facilitating the business scenario. For instance, Martin Bauer GmbH & Co. KG acquired a manufacturer and distributor of plant-based ingredients BI Nutraceuticals in March 2019, with an aim to expand the former’s product portfolio of botanical ingredients in the United States.
 

The unexpected outbreak of COVID-19 has forced worldwide governments to impose strict lockdowns and promote self-isolation in order to curb the spread of the disease, which in turn has negatively impacted the growth of global herbal extracts market.
 

As per type, the market is segmented into pygeum extracts, horse chestnut extracts, milk thistle extracts, saw palmetto extracts, and others. Based on application spectrum, worldwide herbal extracts market is split into pharmaceutical industry, healthcare industry, and others.
 

Considering the geographical landscape, global herbal extracts market is fragmented into Europe, Latin America, North America, Asia-Pacific and rest of the world. According to the report, Asia-Pacific currently accounts for substantial market share and is anticipated to showcase continuous growth in the subsequent years. Increasing consumption of herbal beverages such as tea in households and rising production of herbs are swaying the business dynamics in Asia-Pacific.
 

Xi`an Shengtian Biological Engineering Co. Ltd., PharmChem (Avocal Inc.), Sabinsa Corporation, Maypro Industries, Bio-Botanica Inc., Naturex, Euromed S.A., Indena S.p.A., and Martin Bauer GmbH & Co. KG are the key companies that constitute the competitive terrain of global herbal extracts market.