The perilla extract market has gained huge traction in the recent years owing to its various health benefits. Perilla extract is extracted from perilla frutescens plant and contains active ingredients such as rosmarinic acid, perillaldehyde, and beta-carotene. It helps relieve nasal inflammation, improve brain functions, reduce obesity and manage diabetes. In addition, it has a pleasant flavor which makes it a suitable ingredient for various dishes and cuisines. The growing focus on health foods and dietary supplements has propelled the demand for perilla extract.
The Global Perilla Extract Market Demand 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 of 2024 to 2030.
Key Takeaways
Key players operating in the perilla extract market are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, and Qualcomm. These players are focusing on new product launches, expansions, collaborations and partnerships to gain a competitive advantage in the market.
In terms of opportunities, the market is witnessing increased usage of perilla extract in functional foods, beverages, dietary supplements and personal care products due to rising health awareness. It is also finding wider applications in natural food colorants.
Globally, North America and Europe account for the largest and fastest growing markets for perilla extract respectively due to growing elderly population and rising healthcare expenditure. Moreover, increasing penetration of health supplements in Asia Pacific and Latin America is driving the market growth.
Market drivers and restrain:
The key drivers include growing demand for natural ingredients in food and beverages and increasing usage in pharmaceutical industry owing to anti-inflammatory and cognitive enhancing properties. The key restrain is high production cost of perilla extract due to complex extraction process.
Market drivers and restrain:
The key driver for perilla extract market is growing demand for natural ingredients in food and beverages industry. Consumers are increasingly preferring food products containing natural ingredients over synthetic or artificial ones due to rising health consciousness. This is prompting food manufacturers to use perilla extract in various dishes, cuisines and beverages.
The key restraint for perilla extract market is high production cost. Perilla extract is obtained through a complex extraction process involving solvent extraction and purification. This makes the production of perilla extract an expensive affair. Moreover, the shortage of raw perilla plant further inflates its prices. High prices of perilla extract restrict its mass consumption and large scale applications, thus hindering the market growth.
Segment Analysis
The perilla extract market is segmented based on type, application, and region. By type, the shiso extract segment currently dominates the market. Shiso extract is commonly used for food coloring and flavoring in Japan, China, and Korea. It gives a distinctive minty and licorice-like taste to foods. Therefore, it is highly favored for making red and green perilla seed oils, perilla leaves for kimchi, and shiso plants. By application, the food and beverage segment holds the largest share. Perilla extracts find extensive applications for flavoring and coloring various food products such as noodles, fish cakes, rice crackers, confectionery items, and others. They impart an aromatic herbal and slightly nutty taste to foods.
Global Analysis
Regionally, Asia Pacific dominates the perilla extract market and is expected to continue its dominance over the forecast period. This is attributed to the high consumption of perilla leaves and seeds as a flavoring agent in the cuisines of Japan, China, and Korea. The food manufacturers in these countries extensively use perilla extracts to impart traditional East Asian flavors and hues to various foods. North America is projected to witness the fastest growth owing to rising awareness about the medicinal properties of perilla among consumers. Key players are focusing on Asia Pacific and North America to leverage the high market potential.
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