The Asia-Pacific botanical extract market is witnessing substantial growth due to increasing consumer awareness of the health benefits of botanical extracts. These extracts are derived from various plants and herbs and are used in a wide range of applications, including food and beverages, pharmaceuticals, cosmetics, and more. The market's expansion is fueled by the region's rich biodiversity and the growing preference for natural and plant-based products. Additionally, research and development efforts to discover new botanical sources and extraction techniques are driving innovation in the industry. As consumers seek natural and sustainable options, the Asia-Pacific botanical extract market is poised for continued expansion.
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Data Bridge Market Research analyzes that the Asia-Pacific Botanical Extract Market was valued at USD 4,972.41 million in the year 2021 and is expected to reach a value of USD 8,868.20 million by the year 2029, at a CAGR of 7.5% during the forecast period of 2022-2029. The increasing disposable income in emerging economies is a significant driver for the Asia-Pacific botanical extract market. As people in countries across the Asia-Pacific region experience rising income levels, they have more purchasing power and an inclination toward healthier and premium products. This trend has led to a surge in the demand for botanical extracts, which are often associated with various health benefits.
Key Findings of the Study
Increasing demand for clean-label products is expected to drive the market's growth rate
The Asia-Pacific botanical extract market is experiencing a surge in demand for clean-label products. Consumers increasingly seek naturally derived, functional ingredients, driving the need for clean-label offerings. This shift is intertwined with evolving consumer lifestyles, characterized by a focus on health and environmental consciousness. As people worldwide prioritize well-being and sustainability, natural ingredients have become a staple in their daily choices. Furthermore, botanical extracts stand out as a preferred option, given their chemical residue-free nature, aligning perfectly with the preferences of vegan consumers in the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Spice Extracts, Herb Extracts, Flower Extracts, Tea Extracts, Fruit Extracts, and Marine Plant Extracts), Form (Liquid, Powder, and Leaf Extract), Product Type (Organic and Conventional), Application (Nutraceutical, Food Products, Pharmaceutical, Personal Care and Cosmetics, Beverages, Aromatherapy, Sport Nutrition, Animal Feed, and Other).
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Countries Covered
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Japan, China, South Korea, India, Thailand, Singapore, Indonesia, Malaysia, Philippines, Australia, New Zealand, Vietnam, and rest of Asia-Pacific.
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Market Players Covered
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Givaudan (Switzerland), Kerry Group plc (Ireland), DSM (Netherlands), Sensient Technologies Corporation (U.S.), Ingredion Incorporated (U.S.), McCormick & Company, Inc. (U.S.), Provital (Spain), Martin Bauer Group (Germany), Organic Herb Inc (China), Kalsec Inc. (U.S.), Symrise (Germany), Synthite Industries Ltd. (India), International Flavors & Fragrances Inc. (U.S.), Carrubba, Inc. (U.S.), Blue Sky Botanics (U.K.), DÖHLER GmbH (Germany), Bio Botanica, Inc. (U.S.), Bio-gen Extracts Private Limited (India), Plantnat (China), Native Extracts Pty Ltd. (Australia).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Asia-Pacific botanical extract market is segmented into four notable segments based on type, form, product type, and application.
- On the basis of type the Asia-Pacific botanical extract market is segmented into spice extracts, herb extracts, flower extracts, tea extracts, fruit extracts, and marine plant extracts.
- On the basis of form the Asia-Pacific botanical extract market is segmented into powder, liquid, and leaf extracts.
- On the basis of product type the Asia-Pacific botanical extract market is segmented into organic and conventional.
- On the basis of application the Asia-Pacific botanical extract market is segmented into food products, sport nutrition, beverages, pharmaceutical, nutraceutical, personal care and cosmetics, aromatherapy, animal feed, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Asia-Pacific botanical extract market players in Asia-Pacific botanical extract market are Kerry Group plc (Ireland), DSM (Netherlands), Sensient Technologies Corporation (U.S.), Ingredion Incorporated (U.S.), McCormick & Company, Inc. (U.S.), Provital (Spain), Martin Bauer Group (Germany), Organic Herb Inc (China), Kalsec Inc. (U.S.), Symrise (Germany).
Market Developments
- In July 2021, Japanese pharmaceutical company Takeda announced a collaboration with Singapore-based BioNTech SE. This partnership aims to co-develop and distribute BioNTech's mRNA-based COVID-19 vaccine in Asia-Pacific. By leveraging Takeda's local expertise and network, this alliance seeks to accelerate vaccine distribution, enhancing access to critical immunization efforts and contributing to public health in the region.
- In July 2021, Singapore-based Wilmar International Limited forged a strategic collaboration with Thailand's Charoen Pokphand Foods (CPF). This partnership aims to enhance the Asia-Pacific Botanical Extract Market by leveraging Wilmar's extensive expertise in agricultural processing and CPF's strengths in animal feed and food production. The synergy is anticipated to result in a more integrated and sustainable supply chain, ultimately bolstering market growth and efficiency.
- In June 2021, Japanese firm Kao Corporation initiated a strategic collaboration with Australia's SynBio, focusing on sustainable botanical extract sourcing. This partnership aims to enhance Kao Corporation's sustainability efforts and bolster its product portfolio, positioning it to meet growing consumer demand for eco-friendly solutions in the Asia-Pacific Botanical Extract Market.
- In March 2020, International Flavors & Fragrances Inc. (IFF) entered into a strategic partnership with Swiss biotech company Evolva. This collaboration aimed to boost IFF's product commercialization efforts to drive increased sales and revenue. Through this agreement, IFF sought to leverage Evolva's expertise to enhance its market presence and capitalize on new opportunities in the industry.
- In September 2022, Givaudan unveiled New Purple 2364, a vegan pigment explicitly designed for makeup formulations. This innovative product is derived through green fractionation from Raphanus Sativus L. and aligns with the company's commitment to sustainability and plant-based solutions. Its introduction enriches Givaudan's product lineup, catering to the growing demand for vegan and eco-friendly cosmetic ingredients, enhancing the company's market presence, and meeting the evolving preferences of environmentally conscious consumers.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific botanical extract market report are Japan, China, South Korea, India, Thailand, Singapore, Indonesia, Malaysia, Philippines, Australia, New Zealand, Vietnam, and rest of Asia-Pacific.
As per Data Bridge Market Research analysis:
Japan is dominating the market in Asia-Pacific botanical extract market during the forecast period 2022-2029
Japan's dominance in the botanical extract market is attributed to robust demand across diverse industries. The country's high demand for these extracts reflects their integral role in numerous sectors, including food, cosmetics, pharmaceuticals, and more. Japanese consumers' preference for natural and wellness-focused products has amplified this demand. The nation's stringent quality standards and reputation for innovation also bolster its leading position, making it a pivotal player in the Asia-Pacific botanical extract market.
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