Botanical Extracts Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Botanical Extracts Market grew at a CAGR of 6.7% between 2017-2021 and is estimated to be US$ 5,102.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.6% and is expected to reach a valuation of US$ 10,615.1 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow. There will likely be a rise in demand for plant extracts due to the rising prevalence of deficiency disorders, including anemia, scurvy, rickets, etc., and the resulting surge in need for nutritional supplements.
ChemView Consulting has analyzed that The growing use of natural and organic foods in both the food and non-food industries and the rise of plant-based alternatives for chemical-laden production has led to a growth in the demand for botanical extracts over the coming years. The increasing number of people transitioning toward skin-enhancing nutritional food products has encouraged enterprises to develop products based on natural ingredients that positively affect health.
These Liquid botanical extracts are infused with certain bioactive compounds such as antioxidants, offering skin-enhancing benefits, including sun protection and anti-aging properties, etc. Besides, the ease of use, cost-effectiveness, and enhanced aesthetics associated with liquid extracts may bolster this segment’s share over the coming years.
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Segments Covered in Report
By Source :
- Tea Leaves
By Form :
By Technology :
- CO2 Extraction
- Solvent Extraction
- Steam Distillation
- Cosmetics & Skincare
- Food & Beverage
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Botanical Extracts Market
- Based on the Technology, Carbon Dioxide extract is a novel and superior extraction technology. It utilizes plant components, including fruit, vegetables, herbs, and spices. This method results in greater extraction of herbal ingredients without burning the taste buds. The extract flavors soft drinks, confectionery, and dairy products.
- Based on the application, The food and beverage sector held the largest market share in 2021 and is expected to retain its dominance throughout the projected timeline. It is expected that food producers will continue to search for ways to preserve their product quality while extending the shelf life of their products, with botanical extracts holding much potential as an ingredient.
- Based on Region, the Europe market held a sizeable revenue share of 31.2%. The beverage industry is expanding because of the increasing trend for RTD beverages. Customers’ preferences change from carbonated drinks to ones containing healthy, organic components such as kombucha and matcha.
Key companies covered in the market study are Symrise, Kancor, Synthite Industries Ltd., Ransom Naturals Ltd., India Essential Oils, A.G. Industries, Flavex Naturextrakte GmbH, Arjuna Natural Pvt. Ltd., Firmenich SA, Robertet Group, Sami Spices, doTERRA.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
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- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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