Analysis of the development dynamics of the plant extract industry: the scale of demand continues to expand and the concentration of the industry continues to rise

I. Development environment: favorable policies and economic growth, driving the rapid development of the industry


In recent years, the rapid development of China’s plant extract industry has played an important role in protecting people’s health and promoting economic development. In order to further promote the development of the plant extract industry and its related industries, China has released a number of policies one after another. With the continuous development of China’s economy, China’s per capita GDP has been rising in recent years, the per capita disposable income of residents has increased, and people’s consumption ability and living standard have been significantly improved. In the case of satisfying basic food, clothing, housing and transportation, people are paying more and more attention to health conditions. The trend of economic development in the future remains unchanged, which will continue to promote the upgrading of social consumption and boost the development of plant extract application fields such as medicine, health care products, cosmetics, food and beverage industries, thus injecting great momentum into the rapid development of China’s plant extract industry.


Second, the current situation of development: stable growth of domestic market scale, increasing demand in foreign markets


Due to the obvious improvement of people’s living standards, health consciousness and the rise of the trend of environmental protection back to nature, which has driven the growth of market demand for plant extract products, and benefited from the application of more advanced plant extraction technology to greatly improve production efficiency, China’s plant extraction industry has entered a golden period of rapid development. With the rapid growth of domestic and foreign demand for plant extracts, the market size of China’s plant extract industry has maintained a steady growth in recent years, and with the advantage of rich plant resources, more and more Chinese enterprises have started to export plant extracts to Europe and the U.S. From 2010 to 2021, the overall export value of China’s plant extract industry is growing.


Third, the market pattern: market concentration is scattered, and there are no leading enterprises yet


At present, China’s plant extract industry is still in a rapid development stage, and the overall market concentration is scattered, and no monopoly enterprise has emerged yet. From the industry market concentration situation, the top three companies in the national plant extraction industry market share in 2019 are Chenlight Bio, Rhine Bio, and Ocimum Pharma, with a combined market share of 6.58%. With the increase in national policy support, social investment, enterprise business scale expansion and R & D efforts, by 2020, the competitive advantage of the industry’s head enterprises increased, the top three enterprises Morning Glory Bio, Rhine Bio, Ou Kang Pharmaceuticals together accounted for 8.16% of the national plant extract industry market share, but the current key enterprises with advantages have not yet formed the industry leader.


Fourth, the development trend: the scale of demand continues to expand, industry concentration is rising


In the policy, economy, society and other forces to promote and the industry in the enterprise efforts in research and development, plant extract applications continue to deepen and the downstream industry thriving development will jointly pull China’s plant extract industry scale continues to expand. At the same time, with the downstream consumer field on the industry production process technology requirements continue to improve, domestic and foreign product standards of the industry continue to change, industry regulation more strict and sound, some of the tiny enterprises and new entrants will be eliminated from the game, while the comprehensive strength of the key enterprises continue to grow competitive advantage, solid and seize more market track, thus making the concentration of the plant extract industry continue to rise.

Post time: Jun-05-2023

Post time: 2023-09-13 10:57:09
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