The perilla extract market has gained extensive traction due high demands from health-conscious consumers for natural remedies. Perilla extract oil is derived from perilla seeds contains high amount of alpha-linolenic acid (ALA), which is an omega-3 fatty acid. It provides various health benefits such as reducing inflammation, improving brain and heart functions. The oil also possess disease preventing properties against diabetes, asthma, and cancer. Due to expanding applications in healthcare, pharmaceutical, and food and beverage industries, the global perilla extract market is estimated to be valued at US$ 1.33 Bn in 2024 and is expected to exhibit a CAGR of 15.% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the perilla extract market are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, and Intel. These manufacturers are focusing on adopting innovative extraction techniques like supercritical fluid extraction to obtain high-quality perilla extracts.
The demand for perilla extract is growing rapidly from the pharmaceutical sector owing to numerous medicinal uses. The extract has shown effective results in preventing multiple health conditions like asthma, diabetes, and cancer. It is also known for relieving anxiety and improving cognition.
Technological advancements like development of advanced extraction methods using supercritical CO2 are helping manufacturers to obtain standardized, pure perilla extract oils with high omega-3 content. Supercritical fluid extraction is a green technology that allows for selective separation of compounds from perilla seeds.
Market Trends
Increased focus on R&D of perilla extract products - Manufacturers are investing extensively in development of standardized perilla extract ingredients and products with customized formulations for various application industries. Novel delivery formats like perilla infused beverages and dietary supplements are gaining popularity.
Growing demand for clean label and natural ingredients - With rising health awareness, consumers prefer food and beverages with simple and recognizable ingredients sourced from natural plants. Global Perilla Extract Market Demand meets these clean label demands owing to its natural source.
Market Opportunities
Utilization in cosmeceuticals - Perilla extract possesses high antioxidant and anti-inflammatory compounds that can be leveraged for developing natural skin care products. Its potential in anti-aging creams and serums remains untapped.
Formulating functional foods - Perilla extract can be incorporated in developing foods for specific health benefits like omega-3 enrichment. Products like perilla infused snacks, dairy and beverages present lucrative opportunities.
Impact of Covid-19 on Perilla Extract Market Growth
The COVID-19 pandemic has significantly impacted the growth of the perilla extract market globally. During the initial phase of the pandemic, lockdowns imposed worldwide halted production and supply chain activities. This led to disruptions in the availability of perilla extract. With people confined indoors, the demand for health and wellness products also took a hit initially. However, as the pandemic prolonged, awareness regarding health and immunity boosting grew exponentially. This increased the consumption of perilla extract globally as it is known to have antioxidant and anti-inflammatory properties that boost the immune system. As restrictions eased in 2021, manufacturers resumed operations with requisite safety measures and protocols in place. This helped stabilize the supply situation. The market is expected to witness steady growth post-pandemic as consumers have now realized the importance of bolstering health to mitigate viral attacks. Also, ongoing research for potential benefits of perilla extract in fighting viral infections is anticipated to further boost demand. Companies are focusing on expanding production capacities and enhancing distribution networks to cater to rising requirements in the coming years.
Geographical Regions With Highest Perilla Extract Market Value
Currently, the Asia Pacific region accounts for the largest share of the global perilla extract market in terms of value. This is majorly attributed to high consumption of perilla extract products in countries such as Japan, China and South Korea where it is a popular culinary and medicinal herb. Easy availability along with lengthy usage of perilla in traditional medicines and cuisine has made APAC the dominant market. North America follows APAC in market size due to increasing popularity of perilla extract among health-conscious consumers and its usage in supplements, beverages and packaged food products. Availability of import substitutes and indigenous production is driving the market growth in countries like the US and Canada. Progressive lifestyles and growing awareness about nutritional benefits are prompting consumers in Europe to include perilla extract in their diets as well, making European market an important region.
Fastest Growing Regional Market for Perilla Extract
The Middle East and Africa region is expected to witness the fastest market growth for perilla extract during the forecast period. This growth can be primarily attributed to rising health consciousness among consumers regarding immunity boosting supplements and herbs. Emerging economies across Africa are showing high potential backed by growing disposable incomes, urbanization and changing food habits. Market players are investing in establishing production facilities and promoting various applications of perilla extract including its anti-inflammatory properties that help arthritis patients and skin benefits. Favorable climatic conditions allow for cultivation of perilla in many African countries as well which can augment regional supply. As awareness rises, the MEA region is poised to emerge as a key market for perilla extract globally over the next years.
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