Botanical extracts, renowned for their high content of antioxidants and flavonoids, have experienced a surge in demand within the food and beverage as well as cosmetic sectors. Their inherent natural composition and the potential health benefits they offer make them appealing for developing functional foods, beverages, skincare, and hair care products. This aligns perfectly with the preferences of health-conscious consumers who actively seek out natural and beneficial ingredients. The popularity of botanical extracts stems from their ability to cater to the growing market demand for products that promote overall wellness
According to Data Bridge Market Research, the Botanical Extracts Market was valued at USD 6.10 billion in 2021 and is expected to reach the value of USD 10.56 billion by 2029, at a CAGR of 7.10% during the forecast period of 2022-2029.
“Growing consumer demand for natural and organic products surge market demand"
The growing demand from consumers for natural and organic goods has driven the growth of the botanical extracts market. Consumers are seeking safer and healthier alternatives, leading to a preference for natural ingredients derived from plants. Botanical extracts are seen as a sustainable option, free from synthetic chemicals. This demand is observed across various sectors, including food, beverages, personal care, and healthcare, where botanical extracts are utilized for their perceived natural and organic qualities.
What restraints the growth of the botanical extracts market?
"Limited raw material availability can impede the market growth”
Limited raw material availability poses a significant restraint on the botanical extracts market. Some botanical sources used for extraction may be rare or specific to certain regions, making it challenging to meet the demand for certain extracts. This can lead to supply chain complexities, including sourcing difficulties, increased costs, and potential price fluctuations. Manufacturers must carefully manage their raw material sourcing strategies to ensure a stable and sustainable supply of botanical materials for extraction.
Segmentation: Global Botanical Extracts Market
The botanical extracts market is segmented on the basis of type, form, product type, and application.
- On the basis of type, the botanical extracts market is segmented into spice extracts, herb extracts, flower extracts, Botanical Extracts, fruit extracts, and marine plant extracts
- On the basis of form, the botanical extracts market is segmented into powder, liquid, and leaf extracts
- On the basis of product type, the botanical extracts market is segmented into organic and conventional
- On the basis of application, the botanical extracts market is segmented into food products, Sports Nutrition, beverages, pharmaceutical, nutraceutical, personal care and Cosmetics, Aromatherapy, Animal Feed, and others.
Regional Insights: North America is expected to dominate the Global Botanical Extracts Market
North America is expected to hold the largest share of the global botanical extracts market. The large share of this region is primarily attributed to rising consumer awareness of the benefits of consuming products containing natural plant-derived extracts, the abundance of aromatic medicinal plants, increasing competition for natural resources, which causes consumers to focus on healthier lifestyles, and government initiatives to promote technological advancements in this region.
Europe is anticipated to experience growth in the forecast period (2022-2029) due to the rising demand for ready-to-drink beverages. The convenience and portability of ready-to-drink beverages align with the busy lifestyles of European consumers. Moreover, the region's growing preference for healthy and functional beverages, including natural and organic options, further contributes to market growth. Manufacturers are likely to introduce innovative and diverse ready-to-drink beverage options to cater to the evolving consumer preferences in Europe.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-botanical-extracts-market
Recent Developments in Global Botanical Extracts Market
- In 2019, Doehler released natural blossom flavors and extracts of herbs and spices. This launch aimed to satisfy the food and beverage industries' rapidly rising demand for botanical flavors.
The Prominent Key Players Operating in the Global Botanical Extracts Market Include:
- Ransom Naturals Ltd. (U.K.)
- International Flavors & Fragrances Inc. (U.S.)
- Synthite Industries Ltd. (India)
- Martin Bauer Group (Germany)
- Kalsec, Inc. (U.S.)
- Synergy Flavors Inc. (U.S.)
- Prinova Group (U.S.)
- PT. Indesso Aroma (Indonesia)
- Döhler GmbH (Germany)
- Bell Flavors & Fragrances (U.S.)
- Nutra Green Biotechnology Co., Ltd. (China)
- Kuber Impex Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list of botanical extracts market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Botanical Extracts Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
