Perilla extract is extracted from Perilla frutescens plant and is commonly used as a flavoring ingredient in East Asian cuisine. Perilla extract possesses anti-oxidant and anti-inflammatory properties and is used in pharmaceutical industries. It is also used in food processing industries as a natural food flavoring agent and color enhancer. The extract is gaining popularity in Western countries owing to its health benefits. 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 Global Perilla Extract Market Demand are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, Qualcomm.
The key opportunities in the market include expanding applications of perilla extract in nutraceutical and cosmeceutical industries. There is a rising demand for natural and herbal extracts in skin care and hair care products owing to increasing consumer preference for natural ingredients.
Technological advancements in extraction process are helping improve yields and concentrate bioactive compounds in perilla extract. Supercritical fluid extraction technology is being used to extract rosmarinic acid and other bioactive phytochemicals from perilla leaves. This technology enhances extraction efficiency and purity of extracts.
Market drivers
Growing health conscious consumer base is a key driver for perilla extract market. Consumers are increasingly preferring food and personal care products containing natural ingredients due to perceived health benefits. Perilla extract supplies antioxidants and has anti-inflammatory properties.
Expanding applications of perilla extract in pharmaceuticals is also fueling market growth. Clinical research demonstrates that perilla extract shows promise in managing conditions like asthma, diabetes, and neurodegenerative diseases due to presence of active compounds like rosmarinic acid.
Current challenges in Perilla Extract Market
The perilla extract market has been witnessing various challenges which can hamper the growth of the market during the forecast period. Major challenges include high cost of extraction process and supply demand gap. Perilla extract involves complex extraction process which involves use of organic solvents like ethanol, water etc. This makes the extraction process expensive. meeting the growing demand of perilla extract in food and pharmaceutical industry has been a challenge for market players. Regulatory norms regarding use of perilla extract in food products is another challenge.
SWOT Analysis
Strength: Higher antioxidant and anti-inflammatory properties of perilla extract make it suitable for various health applications. Growing awareness regarding health benefits is driving the demand.
Weakness: Expensive extraction process increases the cost of perilla extract. Supply demand gap can hamper market growth.
Opportunity: Untapped market in developing regions presents lucrative growth opportunity. Innovation in extraction technology can further reduce the cost.
Threats: Stringent regulations regarding use of solvents in extraction process can hamper market growth. Substitutes offering similar health benefits also threatens the market.
Geographical Regions
North America region currently holds leading share in perilla extract market in terms of value. Growing health consciousness and increasing use in dietary supplements drives the market in the region. Asia Pacific is the fastest growing region driven by increasing demand from food industry in countries like Japan, South Korea and China. These countries have been using perilla extract traditionally in cuisines. Europe is another major geographical region for perilla extract market supported by growing pharmaceutical industry.
Fastest growing region
Asia Pacific region is expected to be the fastest growing region for perilla extract market during the forecast period. Increasing demand from food industry especially in Japan, South Korea and China is driving the market in the region. These countries have been traditionally using perilla extract in various cuisines which is expected to support market growth. growing health consciousness and changing consumer preferences towards herbal extracts also contributes to the market growth in Asia Pacific region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
