In recent years, the Chinese plant extract industry has developed rapidly and the market size has been continuously expanding, attracting attention both domestically and internationally. According to the analysis of the 2023-2029 China Plant Extract Industry Market Special Survey and Development Strategy Research Report released on Market Research Online, the market size of China’s plant extract industry reached 8.904 billion yuan in 2018, a year-on-year increase of 14.3%.
The development of China’s plant extract industry has received strong support from the country. The ”Development Plan for the New Rural” Three Rural ”Industry” released by the Ministry of Agriculture and Rural Affairs proposes to accelerate the development of agricultural industrialization, promote sustainable development of agricultural ecological environment, increase the value of agricultural products, achieve technological equipment and transformation of ”Three Rural” technology, and promote the standardization and scientific and technological development of the agricultural industry by 2020. In addition, the Ministry of Finance of the People’s Republic of China has allocated a large amount of funds for research and development in the plant extract industry. The government strongly supports the development of the plant extract industry, providing a good policy environment for its development.
With the increasing support from the government for the plant extract industry, the market prospects for the plant extract industry are bright. Due to the continuous improvement of technological level in the plant extract industry, the application fields of plant extracts are also expanding. They can not only be used in industries such as food, health products, cosmetics, but also in industries such as pesticides, dyes, feed, beverages, etc., thus expanding the application fields of the plant extract industry. In addition, as the technological level of the plant extract industry continues to improve, production costs are also constantly decreasing, making the plant extract industry more competitive in terms of price.
Based on the above analysis, the future development trend of China’s plant extract industry is optimistic. It is estimated that by 2025, the market size of China’s plant extract industry will reach 15.77 billion yuan, with a Compound annual growth rate of about 11.2%. In the coming years, the plant extract industry will benefit from government policy support, and the technological level will continue to improve. The industry’s development prospects will be even more promising.
Post time: Jul-10-2023
Post time: 2023-09-13 10:57:00