by Perilla extract is obtained from perilla seeds through drying, extraction, filtration and spray drying processes. It is rich in polyphenols like rosmarinic acid and anthocyanins that act as antioxidants. Perilla extract offers health benefits like immunity booster, cancer prevention, anti-inflammatory and anti-allergic properties. It has a unique flavor and aroma profile and is used widely as a natural flavor enhancer, colorant and preservative in food and beverages.
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.
Key Takeaways
Key players operating in the Perilla Extract Market Demand are Thales Group, Alstom, Huawei, Hitachi, Siemens, Cisco Systems, IBM, Microsoft, Intel, Qualcomm. These key players are focusing on innovation and new product development to meet the rising demand. Thales Group recently launched Fricti0nless ID that uses perilla extract as a natural preservative to extend product shelf life.
The demand for perilla extract is increasing in the food industry for applications in bakery, confectionery, snacks and other processed food. Products like perilla seed oil, powder and paste find wide usage as they enhance flavor and extend freshness. The market potential is huge in the Asian countries where perilla is a key ingredient in traditional cuisine.
Globally the market is expanding with investments from extract manufacturers as well as food processors. Countries like China, Japan and South Korea have been dominating the production and exports. However, newer regions like North America and Europe are also emerging as important markets driven by growing health consciousness.
Market Key Trends
Multi-functional applications: Perilla extract is finding newer applications beyond just food flavoring. Products containing rosmarinic acid from perilla are being marketed for skin, hair and gut health due to its anti-aging and prebiotic properties. This trend is driving innovation and clinical research.
Porter’s Analysis
Threat of new entrants: The growth prospects of perilla extract market will attract new players, however established players hold patents and economies of scale which will act asentry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to presence of substitutes like mint oil and presence of global players in perilla extract market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials for perilla extract are agricultural products and there are multiple suppliers.
Threat of new substitutes: Substitutes like peppermint oil, mint oil poses minimal threat as they don’t have unique properties of perilla extract.
Competitive rivalry: The rivalry is high due to presence of global food ingredient majors and focus on new products and geography expansion.
Geographical regions: Asia Pacific accounts for over 50% of global perilla extract market value due to higher production and consumption in countries like China, Japan and South Korea.
The fastest growing region for perilla extract market is expected to be North America on account of rising awareness about health benefits of perilla extract and growing demand for natural flavors and ingredients in food products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
