June 21, 2024
Perilla Extract Market

Perilla Extract Market will Witness High Growth Owing to Rising Adoption in Food and Supplement Industries

Perilla extract is an oil extracted from the seeds of perilla plant. It is commonly used in food products and dietary supplements owing to the presence of monounsaturated fatty acid and polyphenol compounds that offer various health benefits. Perilla extract is used for flavoring and coloring food items such as poultry, meat, fish and food oils. It helps impart umami or savory flavors in dishes. Rising demand for natural ingredients and clean label products is driving the adoption of perilla extract in the food industry.

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 2031.

The key players operating in the Perilla Extract Market Growth include Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, Qualcomm. Key players such as Kagome and Amino Up are engaged in the production of perilla extract through advanced extraction methods to cater to the demand from food and nutraceutical sectors.

The perilla extract market is expected to witness lucrative growth opportunities in Asian countries owing to increasing consumption of seasonings and cooking oils containing perilla extracts. The market players are focusing on Asian markets like Japan, China and South Korea for developing innovative food applications of perilla extract.

The rising health-conscious population and growing demand for nutritional supplements have fuelled the adoption of perilla extract in dietary supplements. It helps address problems such as inflammation, oxidative stress and allergy symptoms due to the presence of rosmarinic acid and polyphenols. This is expected to be a major growth driver for perilla extract market over the forecast period.

Market Drivers

The high concentration of alpha-linolenic acid in perilla extract makes it beneficial for heart health. ALA is an omega-3 fatty acid known to reduce triglyceride levels and risk of coronary heart diseases. It also helps lower blood pressure and reduce inflammation. The various health benefits of perilla extract are driving its increased demand from pharmaceutical and nutraceutical industries.

PEST Analysis

Political: The rules and regulations imposed by governments in various countries on the use of herbal extracts can impact the perilla extract market. Some countries have strict guidelines while others have lenient regulations.

Economic: Factors such as disposable income levels, trade agreements between countries and economic growth rates influence the purchasing power of customers and demand for perilla extract in end use industries.

Social: Consumer preferences and focus on herbal ingredients drive the use of perilla extract in food and beverages, personal care products and supplements. Demand varies across regions based on social and cultural norms.

Technological: Advancements in extraction methods help manufacturers enhance yield and purity of perilla extract. New application areas are also emerging due to technological developments in related industries.

Geographical regions with high market concentration

The Asia Pacific region holds a significant share of the global perilla extract market value owing to factors such as widespread cultivation of perilla plants and significant consumption particularly in countries like Japan, China and South Korea. The extract finds extensive usage in cuisines and cosmetics in these countries. North America and Europe are other major geographical markets.

Fastest growing region

The market in Latin America is expected to witness the fastest growth over the forecast period. This can be attributed to rising health awareness, growing herbal product industry and increasing adoption of Asian food cultures. Countries like Brazil and Mexico are anticipated to drive higher demand for perilla extract from the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it