Botanical Extracts Market

In 2021, the U.S. botanical extracts market was valued at US$ 1,288.7 Mn and is estimated to reach at a value of US$ 1,470.5 Mn by the end of 2022, with a growth rate of 6.6%

 

Reports and Insights (R&I) has published a new report titled, Botanical Extracts Market: Opportunity Analysis and Future Assessment 2020-2028

Global Botanical Extracts Market, By Source (spices, herbs, flowers, roots, fruits, leaves and seeds), By Application (Food & Beverages Industry (bakery & confectionery and sauces & dressings, alcoholic beverages, carbonated soft drinks, ice tea, and flavored dairy products), Cosmetics Industry (skin rejuvenation and regeneration products, age defying products and others)), By Form (Liquid, powder, and semi-solid), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.

In 2021, the U.S. botanical extracts market was valued at US$ 1,288.7 Mn and is estimated to reach at a value of US$ 1,470.5 Mn by the end of 2022, with a growth rate of 6.6%.

In the past few years there has been a swift transition from synthetic or artificial products towards more organic and natural products among the population as an increasing bunch of consumers look for products that are effective as well as safe for their well-being. This is possibly one of the major factors that is projected to give a massive breakthrough to the growth of the global botanical extracts market over the forecast period.

Primarily, Botany refers to the domain of study comprising anatomy, composition, genetic science, dissemination, and economic significance of plants. In the same manner, botanical extracts can be perceived as the natural products procured from the plants, specifically from its barks, roots, leaves, stems, flowers and fruits. To put it in simple words, botanical extracts are organic products and serve their utility in liquid, dry, or semi-solid form.

Botanical extracts are plant-based products and thus, comprises medicinal and therapeutic properties, owing to which these are employed in comprehensive applications across the pharmaceutical industry, food and beverages industry, as well as cosmetic industry. Such factors play a major role in boosting the demand of botanical extracts across the global markets, thereby the global botanical extracts market is expected to grow significantly in the forthcoming years. On top of that, along with the rising prevalence of lifestyle and chronic illnesses and emerging serious medical conditions among the masses necessitates an additional novel approach that can cure and heal the illness and further, decreases the development of side effects. As of this, botanical extracts are considered as an effective substitute to allopathic medicines as the botanical extracts are constituted of natural materials that have constituents with medicinal and health-improvement activities. Attributing to which, the global botanical extracts market is estimated to observe significant growth in the coming years.

Botanical extracts are used as ingredients in the food & beverage industry and are rich in antioxidants, vitamins, and minerals. These extracts help in offering food and beverage products in order to modify or change flavor, aroma, or add nutritive quality. Moreover, these products impart properties such as enhanced flavor, reduce microbial spoilage and extend shelf life. For example some products in the market containing green tea extracts offer minimum 40% catechins. Catechins are natural antioxidants that help prevent cell damage and provide other benefits. These factors are expected to drive growth of the US botanical extracts market.

Over the years demand for botanical extracts in the cosmetic sector has increased. Main properties of plant extracts, used in skin care, include antioxidant and antimicrobial activities and tyrosinase inhibition effect. Botanical extracts that support the health, texture, and integrity of the skin, hair, and nails are widely used in cosmetic formulations. Various companies are focusing on using different properties of botanical extracts to develop new products. This is expected to increase demand for botanical extracts market.

Furthermore, the increasing awareness among the population with regard to the adverse effects of synthetic products all across the world is further escalating the growth in demand of botanical extracts globally. Therefore, the global botanical extracts market is estimated to expand rapidly over the forecast period. 

R&I Study identifies some of the key participating players in the botanical extracts market globally are Frutarom Ltd., Kalsec Inc, and Döhler GmbH, Nexira, Haldin Natural, Synthite Industries, MB-Holding GmbH & Co. KG, Synergy Flavors, and Blue Sky Botanics, Fytosan, BI Nutraceuticals., among others.

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