Global Botanical Extracts Market Segmentation, By Type (Spice Extracts, Herb Extracts, Flower Extracts, Botanical Extracts, Fruit Extracts, and Marine Plant Extracts), Form (Powder, Liquid, and Leaf Extracts), Product type (Organic and Conventional), Application (Food Products, Sports Nutrition, Beverages, Pharmaceutical, Nutraceutical, Personal Care & Cosmetics, Aromatherapy, Animal Feed, and Others) – Industry Trends and Forecast to 2031
Botanical Extracts Market Analysis
As a growing number of consumers seek safe and effective products, there has been a rapid shift from synthetic products to more natural and organic products in recent years. Botanical extracts contains a lot of antioxidants and flavonoids. They are widely used across the food and beverage and cosmetic industries.
Botanical Extracts Market Size
Global botanical extracts market size was valued at USD 7.00 billion in 2023 and is projected to reach USD 12.11 billion by 2031, with a CAGR of 7.10% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Botanical Extracts Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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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)
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Market Opportunities
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Botanical Extracts Market Definition
Botanical extracts are herbal-product of various types. Herbal extract is created when a solvent reacts with plant material, dissolving some of its components. Once separated from the insoluble plant materials, the remaining solution is the extract, which can be left in liquid form or removed to produce a solid extract.
Botanical Extracts Market Dynamics
Drivers:
- The increase application of botanical extracts in the dietary supplements industries
Botanical extract is widely used in the manufacture of dietary supplements. Botanical extracts and dietary supplements aid in blood sugar regulation, blood pressure regulation, weight management, disease prevention, and exercise recovery. It's available in capsules, liquids, and powdered form. Dietary supplement consumption has been increasing in recent years, and the market is expected to grow at an exponential rate in the near future. The global nutritional supplement market is expanding as a result of rising healthcare costs and a subsequent emphasis on preventive medicine. Consumers' health consciousness is growing around the world, which is impacting the sales of dietary supplements as healthy alternatives to conventional medication.
- Shift in the lifestyle as well as growing demand from the personal care industry
An increasing working population, rising demand for ready-to-use products, and expanding retail markets are some of the factors expected to drive global market growth during the forecast period. The growing use of botanicals as natural ingredients in the personal care industry is expected to drive growth in the global botanical capsule market. Additionally, rising disposable income levels, rising food and beverage expenditure, and rising consumer awareness of healthy lifestyles are expected to drive botanical extracts market growth.
Opportunity
The growing global demand for organic products is expected to provide market participants with a lucrative opportunity in the coming years. Due to the high demand for botanical's functional properties, manufacturers in the global botanical market constantly introduce new and innovative products. They are also introducing ready-to-consume variants in order to broaden their product portfolio and boost overall sales. Furthermore, they are investing in innovative marketing strategies and celebrity endorsements, which are expected to boost market growth in the coming years.
Restraints
One of the major constraints is the current shortage of raw materials required to manufacture products containing botanical extracts. Another significant constraint is that the prices of these raw materials can fluctuate dramatically over the course of a week or even on a single day. This unpredictability can make it difficult for food and beverage companies to plan overall production for a given period.
This botanical extracts market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the botanical extracts market contact Data Bridge Market Research for an Analyst Brief, our botanical will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Botanical Extracts Market
Demand for herbal products traditionally used for immune support increased in the first few months of 2020, particularly in markets where traditional medical protocols such as traditional Chinese medicine (TCM) and Ayurveda were prevalent in Thailand, India, and Tunisia. There have also been reports of panic purchases of herbal products in countries such as Sri Lanka. This increased demand for botanical extracts and may have long-term implications for how and where product manufacturers source botanical ingredients.
Botanical Extracts Market Scope
The botanical extracts market is segmented on the basis of type, form, product type, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Powder
- Liquid
- Leaf extracts
Type
- Spice Extracts
- Herb Extracts
- Flower Extracts
- Botanical Extracts
- Fruit Extracts
- Marine Plant Extracts
Product type
- Organic
- Conventional
Application
- Food & Beverages
- Pharmaceuticals
- Food Products
- Sports Nutrition
- Beverages
- Nutraceutical
- Personal Care & Cosmetics
- Aromatherapy
- Animal Feed
- Others
Botanical Extracts Market Regional Analysis
The botanical extracts market is analyzed and market size insights and trends are provided by country, type, form, product type, and application as referenced above.
The countries covered in the botanical extracts market report U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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 expected to grow during forecast period of 2024 to 2031 because of the increasing demand for ready-to-drink beverages in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Botanical Extracts Market Share
The botanical extracts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to botanical extracts market.
Botanical Extracts Market Leaders Operating in the Market Are:
- 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),
Latest Developments in Botanical Extracts Market
- In February 2019 Doehler introduced natural herb and spice extracts and natural blossom flavours. This launch aimed to meet the rapidly increasing demand for botanical flavours in the food and beverage industries
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