The North America Botanical Extract Market is said to grow with a CAGR of 5.7% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.
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The North America botanical extract market is a highly fragmented market, which includes a number of key players as well as local players. The market has witnessed increased strategic developments owing to a favorable market scenario.
The major players operating in the North America botanical extract market are exploring new collaborations and partnerships in the industry to enhance their product offerings. They are expanding their businesses into new regions through different retail channels.
For instance,
- In September 2022, Givaudan launched New Purple 2364, a vegan pigment for use in make-up formulations. It is made from the extraction by green fractionation from Raphanus Sativus L. This will help the company to increase its product portfolio.
- In March 2020, International Flavors & Fragrances Inc. had a new partnership with Evolva, a Swiss biotech company. This agreement will benefit the company to expand the commercialization of the International Flavors & Fragrances Inc. products and thereby increase sales and revenue.
Sensient Technologies Corporation is the dominating player in North America botanical extract market. Some of the other key players existing in the market include Givaudan, Kerry Group plc, DSM, Ingredion Incorporated, McCormick & Company, Inc., Provital, Martin Bauer Group, Kalsec Inc., Symrise, Synthite Industries Ltd., International Flavors & Fragrances Inc., Carrubba, Inc, Blue Sky Botanics, DÖHLER GmbH, Bio Botanica, Inc., Bio-gen Extracts Private Limited, Plantnat, and Native Extracts Pty Ltd among others.
Sensient Technologies Corporation
Sensient Technologies Corporation was founded in 1882 and is headquartered in Wisconsin, U.S. It has public ownership. The company focuses on providing customized food and beverage systems, pharmaceutical colors and coatings, and cosmetics & personal care formulations. The company has business segments such as flavors & extracts, colors, and Asia-Pacific out of which flavors & extracts is the market focused segment. The company offers a wide range of product categories such as taste modulation, plant-based solutions, sensory enhancers, flavors, flavor enhancers, clean label solutions, bio-nutrients, colors, vegan flavors, and essential oils out of which flavors is the market focused category. The company has a presence in Europe, Middle East and Africa, Asia-Pacific, and Americas.
For instance,
- In March 2016, Sensient Technologies Corporation expanded its technical development and application center for flavors, colors, and fragrances in Singapore. The new facility enabled the local Sensient units and customers to develop product solutions from locally developed initiatives based on Sensient’s global product portfolio.
Flavor Burst Inc. (U.S.), Sensient Colors SA (U.S.), Sensient Natural Extraction Inc. (U.S.), and Sensient Flavors Mexico, S.A. de C.V. (Mexico) among others are the subsidiaries of the company.
Givaudan
Givaudan is headquartered in Geneva, Switzerland. It has public ownership. The company is focused on manufacturing flavors, fragrances, and health & personal care products for customers. The company has business segments such as taste & wellbeing and fragrance & beauty out of which taste & wellbeing is the market focused segment. The company offers a wide range of product categories such as taste & wellbeing and fragrance & beauty out of which taste & wellbeing is the market-focused category. The company has a wide global presence across Europe, Middle East and Africa, Asia-Pacific, South America, and North America.
For instance,
- In February 2021, Givaudan introduced Nootropics, a collection of six natural and traceable extracts featuring guarana, ginger, green tea, gotu kola, ginkgo, and green coffee for food supplements and cosmetics. This development helped the company to increase its revenue.
Naturex (France), Soliance, SA (France), Givaudan (Thailand) Ltd. (Thailand), Givaudan UK Limited (UK), and Givaudan (India) Pvt. Ltd. (India) are the subsidiaries of the company.
Kerry Group plc
Kerry Group plc was founded in 1972 and is headquartered in Tralee, Ireland. It has public ownership. The company’s main focus is to be the world leader in taste and nutrition serving the food, beverage, and pharmaceutical industries, and a leader in its categories in the chilled cabinet primarily in the Irish and UK markets. The company has business segments such as taste & nutrition and consumer foods out of which taste & nutrition is the market focused segment. The company offers a wide range of product categories such as taste, nutrition, expertise, and products out of which taste is the market focused category. The company has a wide presence across Americas, Europe, Middle East and Africa, and Asia-Pacific.
For instance,
- In October 2020, Kerry introduced an organic range of flavorings and extracts under the brand name SimplyNature. In addition, the new portfolio of SimplyNature, including flavorings and extracts, would expand and meet the customers' demand.
Kerry Ingredients (S) PTE Limited (Singapore), Kerry Japan Kabushiki Kaisha (Japan), Kerry Egypt LLC (Egypt), PT Kerry Ingredients Indonesia (Indonesia), and Kerry Ingredients India Private Limited (India) among others are the subsidiaries of the company.
