A Review of the Export Data of China’s Plant Extract Market in 2020 and Potential Varieties

In 2020, the outbreak of the pandemic stimulated consumer demand for naturally sourced plant extracts, however, China’s export value of plant extracts in the first half of 2020 reached USD1.265 billion, up only 1.08% year on year, due to export price dropping and export restrictions, while the export price dropped 6.93% year on year.

Overall export data of plant extracts in 2020

According to the data of the past decade, China’s plant extract export was in a period of high growth from 2010-2015 while it experienced a large decline in 2016-2017, and it regained growth until 2018 to achieve a record high. However, China’s export to the U.S. was temporarily impeded by the trade friction between China and the U.S. in 2019. In this year, China’s export value of plant extracts was USD2.372 billion, up 0.19% year on year; China’s export volume thereof was 86,900 tons, up 5.68% year on year; China’s export price thereof was USD27.3/kg, down 5.19% year on year. China’s export value of plant extracts was USD1.265 billion in the first half of 2020, up only 1.08% year on year, while China’s export price thereof dropped 6.93% year on year mainly due to the continued U.S. dollar devaluation, which in turn affected the total export.

In terms of export markets, the U.S., Japan, India, Spain, Mexico, Germany, South Korea, Malaysia, France and Indonesia were the top ten markets for China’s plant extract export. Among them, the U.S. was still the largest market for China’s plant extract export, with the export to the U.S. rebounding strongly in the first half of 2020 to reach USD304 million, up 27.97% year on year; the main export products included stevia extract, licorice extract, and ginkgo biloba extract. This reflects that the U.S. has large market demand for plant extracts and will continue to be the number one market for China’s plant extract export. If you are looking for plant extracts manufacturers and suppliers, then Pharmasources would be your best choice.

Furthermore, the market demand of Spain and Mexico grew fast, with a growth rate of separately 28.31% and 63.61%. The Chinese mainland’s export volume of plant extracts to the market of Hong Kong, S.A.R., China, China further declined in 2019 by 15.57%, with the export value declining by 19.92% to reach only USD132 million; this decline continued in the first half of 2020, with the export volume declining by 36.32% and the export value declining by 35.26%. The loss of the advantage of transit trade of Hong Kong, S.A.R., China, China is irreversible as more and more buyers tend to conduct direct procurement from producing areas.

Main export varieties of plant extracts

In terms of export varieties, the top ten hot varieties were stevia extract, eucalyptus oil, menthol, marigold extract, chili pepper extract, licorice extract, immature citrus reticulata extract, bilberry extract, rutin, and ginkgo biloba extract. China’s export value of these ten extracts in the first half of 2020 reached USD650 million, accounting for more than 50% of its total export value of extracts. Among them, the export value of stevia extract reached USD130 million. Seen from the top ten export varieties from 2014 to 2019, stevia extract had been ranking first, while eucalyptus oil, menthol, marigold extract, licorice extract, bilberry extract, and rutin had been among the top ten for six years, and ginkgo biloba extract and chili pepper extract had been among the top ten for five years; the market demand for these varieties had been stable.

Read More: Plant extract varieties with great market potential

The Article is Translated by PharmaSources.com based on the research of fta.21food.cn.