PERILLA EXTRACT MARKET ANALYSIS

Global perilla extract market is projected to reach US$ 1.15 billion in 2023, and it is expected to reach US$ 1.84 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2023 to 2030.

The market growth is primarily driven by increasing demand for perilla extract from food and beverage, cosmetics, and pharmaceutical industries.

The market segmentation is based on type, application, distribution channel, and region. By type, global perilla extract market is categorized into powder, liquid, capsule, oil, and other forms. Powder Perilla Extract holds the largest market share as it is widely used. Liquid perilla extract is gaining popularity due to its convenient application. Other include encapsulated perilla extract and nano-perilla extract, which offer specialized benefits and applications.

Global Perilla Extract Market- Regional Insights

Asia Pacific (APAC): Asia Pacific is the dominant market for perilla extract, attributed to its deep-rooted cultural significance and traditional use of perilla extract in countries like China, Japan, and South Korea. The region is expected to maintain its market leadership. Furthermore, increasing awareness about health benefits of perilla extract in Western countries boosts its demand. In 2023, Asia Pacific is estimated to account for 65% of the global market share for perilla extract. The region's market growth is fueled by rising demand in the food and beverage, cosmetics, and pharmaceutical industries. China, Japan, and South Korea are major contributors to the perilla extract market in APAC.

North America: The demand for perilla extract is growing in North America due to  rising interest in natural and functional ingredients in the food and beverage, nutraceutical, and cosmetic industries. Various applications have witnessed increased adoption of perilla extract. In 2023, North America is estimated to account for 15% of the global market share for perilla extract. The U.S. serves as the primary market for perilla extract in the region.

Europe: Europe demonstrates significant potential in the perilla extract market. Market growth in the region is propelled by the increasing consumer preference for natural and plant-based ingredients, along with the expanding market for functional foods and beverages. The cosmetics and personal care sector also shows growing interest in perilla extract. In 2023, Europe is estimated to account for 10% of the global market share for perilla extract. Germany, France, and Italy are major markets for perilla extract within Europe.

Figure 1. Global Perilla Extract Share (%), By Region, 2023

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Global Perilla Extract Market- Drivers

• Increasing Consumer Awareness about Health Benefits: Growing consumer awareness about health benefits associated with perilla extract is a major driver of market growth. Perilla extract is rich in antioxidants, omega-3 fatty acids, and other bioactive compounds that have various health-promoting properties such as anti-inflammatory and antioxidant effects.
• Rising Demand for Natural and Plant-Based Ingredients: Increasing preference for natural and plant-based ingredients in food, beverages, and personal care products boosts demand for perilla extract. Consumers are seeking natural alternatives to synthetic ingredients, and perilla extract fits the growing trend of clean label and natural products.
• Growing Application in Food and Beverage Industry: Perilla extract is finding wider application in the food and beverage industry. It is used as a natural flavoring and coloring agent in various food products, including seasonings, sauces, beverages, and dairy products. The demand for natural and healthy ingredients in food and beverages is fueling the growth of perilla extract in this sector.
• Expanding Applications in Cosmetics and Personal Care: Perilla extract is gaining popularity in the cosmetics and personal care industry due to its potential skin benefits. It is used in skincare formulations for its anti-inflammatory, moisturizing, and anti-aging properties. Increasing demand for natural and organic personal care products is driving the utilization of perilla extract in personal care sector. 

Global Perilla Extract Market- Opportunities

• Increasing Demand for Functional Foods and Nutraceuticals: There is growing demand for functional foods and nutraceutical products that offer health benefits beyond basic nutrition. Perilla extract, with its rich content of antioxidants and bioactive compounds, presents an opportunity to cater to this demand. Developing innovative and value-added functional food and nutraceutical formulations using perilla extract can tap into this market opportunity.
• Expansion in Natural and Organic Personal Care: The rising consumer preference for natural and organic personal care products creates an opportunity for perilla extract. Its potential skin benefits, such as anti-inflammatory and moisturizing properties, make it an attractive ingredient for natural skincare and haircare products. Formulating personal care products with perilla extract can cater to growing demand for clean and green beauty products.
• Development of Novel Applications: Exploring new applications and product formulations can unlock untapped market opportunities for perilla extract. For example, perilla extract can be used in functional beverages, dietary supplements, pet food, and animal feed. Identifying and capitalizing on these novel applications can broaden the market scope and attract new consumer segments.
• Geographic Expansion: Expanding the geographical reach of perilla extract presents an opportunity for market growth. While perilla extract has a strong presence in Asia, there is potential to penetrate other regions where consumer interest in natural and functional ingredients is on the rise. Targeting markets in North America, Europe, and other regions with customized marketing and distribution strategies can open up new growth avenues.

Global Perilla Extract Market- Trends

• Growing Demand for Natural and Plant-Based Ingredients: There is an increasing consumer preference for natural and plant-based ingredients in food, beverages, and personal care products. Perilla extract, being derived from the perilla plant, aligns with this trend and is a natural and healthy ingredient.
• Rising Awareness of Health Benefits: Consumers are becoming more aware of the health benefits associated with perilla extract. It is recognized for its high content of antioxidants, omega-3 fatty acids, and other bioactive compounds that contribute to its potential anti-inflammatory, anti-allergic, and antioxidant properties.
• Expansion in Functional Foods and Nutraceuticals: The market for functional foods and nutraceuticals is growing, and is driven by the demand for products that offer additional health benefits beyond basic nutrition. Perilla extract, with its potential health-promoting properties, is increasingly incorporated into functional food and nutraceutical formulations.
• Increasing Application in Personal Care Products: Perilla extract is finding wider application in the cosmetics and personal care industry. It is used in skincare products for its potential anti-inflammatory and moisturizing properties. The trend towards natural and organic personal care products further drives the utilization of perilla extract in this sector.

Global Perilla Extract Market- Restraints

• Limited Awareness and Market Penetration: Despite the increasing awareness of perilla extract's health benefits, there may still be limited consumer awareness in certain regions. Lack of awareness can restrict market penetration and hinder the demand for perilla extract products.
• Seasonal Availability and Supply Chain Challenges: Perilla plants have specific growing seasons, and the availability of fresh perilla leaves for extraction can be limited. This seasonal nature of perilla cultivation can create supply chain challenges in ensuring a consistent and reliable source of perilla extract throughout the year.
• Price Volatility: The price of perilla extract can be influenced by various factors, including supply and demand dynamics, weather conditions affecting crop yield, and processing costs. Price volatility of perilla extract can impact its affordability and market competitiveness, particularly in price-sensitive markets.

Counterbalance: With the rise in health consciousness among consumers, the demand for natural and organic products is increasing. Perilla extract, being a rich source of omega-3 fatty acids and antioxidants, can cater to this demand.

Analyst views:

Global perilla extract market is expected to witness significant growth over the forecast period. Increasing demand for phytonutrients and awareness about health benefits of perilla extract is a major growth driver. Perilla extract possesses anti-oxidant and anti-inflammatory properties which aid in chronic disease management and boosting immunity. This has created substantial adoption in the food and dietary supplements segment. Asia Pacific dominates the market due to strong cultural presence of perilla leaves and seeds in cuisines of countries like China, Korea and Japan. However, fast adoption in North America and European countries is also augmenting the market expansion.

The major restraint could be availability issues of perilla crop in some regions caused by unpredictable weather patterns and small land sizes for cultivation. Volatile prices of raw material further restrain profit margins of perilla extract manufacturers. However, the market witness opportunities in new application exploration beyond edible uses.

Awareness about nutritional benefits and growing application scope can drive the global perilla extract market growth.

Figure 2. Global Perilla Extract Market Share (%), By Type, 2023

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Global Perilla Extract Market- Recent Developments

New Product Launches

• Amino Up is a chemical company launched a new perilla extract powder in 2020. The powder is made from high-quality perilla leaves, and is rich in antioxidants and other health-promoting compounds.
• Toyo Sugar Refining is a manufacture and sale of refined sugar, food and beverage materials and cosmetic materials launched a new perilla extract liquid in 2021. The liquid is made from a blend of perilla leaves and seeds, and is rich in omega-3 fatty acids.
• Chengdu Zhenplant Bio-tech is a drug research and development company launched a new perilla extract capsule in 2022. The capsules are made from a blend of perilla leaves and seeds, and are easy to swallow.

Acquisition and Partnerships

• Acquisition: In 2020, DSM, a global science-based company, acquired Glycom A/S, a leading supplier of human milk oligosaccharides (HMOs). While not specific to perilla extract, this acquisition highlights the interest of companies in expanding their portfolio of natural ingredients and specialty food ingredients.

Top companies in Global Perilla Extract Market

• Shaanxi Undersun Biomedtech Co., Ltd.
• Tocris Bioscience (Bio-Techne Corporation)
• BioOrigin
• Nature's Sunshine Products, Inc.
• Organic Herb Inc.
• Damin Foodstuff (Zhangzhou) Co., Ltd.
• Nutra Green Biotechnology Co., Ltd.
• Xian Yuensun Biological Technology Co., Ltd.
• Guangxi Yiyuan Biotechnology Co., Ltd.
• Changsha Heking Bio-Tech Co., Ltd.
• Hangzhou Botanical Technology Co., Ltd.
• Novoherb Technologies
• Jiangsu Changhai Food Additive Co., Ltd.
• Xian Sost Biological Science & Technology Co., Ltd.
• Xi'an Plant Bio-Engineering Co., Ltd.

Definition: Perilla extract refers to a concentrated form of the extract derived from the leaves, seeds, or other parts of the perilla plant (Perilla frutescens). It is commonly used in various industries, including food and beverages, nutraceuticals, cosmetics, and personal care, due to its potential health benefits and functional properties. Perilla extract is rich in antioxidants, omega-3 fatty acids, and other bioactive compounds that contribute to its anti-inflammatory, anti-allergic, and antioxidant effects. It is often utilized as a natural flavoring, coloring agent, or active ingredient in different products, offering potential health and wellness advantages.