Global Botanical Extracts Market to 2026 – by Application, Form, by Source, and Geography – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Botanical Extracts Market by Application, Form, by Source, and Geography – Global Forecast up to 2026” report has been added to ResearchAndMarkets.com’s offering.
The Botanical Extracts Market is expected to grow at the rate of 8.8% CAGR by 2026.
With the increasing demand from the pharmaceutical and cosmetic sectors, the botanical extracts market is gaining traction. The extracts taken from the plants are used in several cosmetic applications such as hair care, soothing & anti-inflammation, moisturizing, derma protection & regeneration, brightening & lightening, overall skincare, and many others. In various therapies to curing, treat, or prevent diseases in the pharmaceutical industry, botanical extracts are used.
Meanwhile, the inadequacy of raw materials and variations in prices impede the botanical extracts market’s growth. Botanical extracts are plant-based extracts extracted from plants used for medicinal or therapeutic properties, flavors, and fragrance. Botanical materials comprise whole plant or cut plants, parts of plants, plant extracts such as sap, algae, fungi, and lichens. All preparations are taken from plants by many procedures such as pressing, squeezing, concentration, extraction, fractionation, heating, drying, and fermentation.
Companies Mentioned
- Blue Sky Botanics Ltd
- Dohler
- Synthite Industries Private Ltd.
- Frutarom Industries Ltd.
- P.T. Haldin Pacific Semesta
- Kalsec Inc.
- Prinova Group LLC
- Ransom Naturals Ltd
- PT. INDESSO AROMA
- Synergy Flavors Inc.
Botanical Extracts Market based on Source
- Spices
- Herbs
- Flowers
- Tea leaves
Botanical Extracts Market on the basis of Form
- Powder
- Liquid
Botanical Extracts Market on the basis of Application
- Food
- Bakery & confectionery
- Sauces and dressings
- Beverages
- Alcoholic beverages
- Carbonated soft drinks
- Ice tea
- Flavored dairy products
Botanical Extracts Market on the basis of Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Source, the market is distributed into spices, herbs, flowers, and tea leaves. The spice segment is estimated to have the highest share in the market. This is due to a shift in lifestyles and increasing inclination towards knowing and experiencing various foods, resulting in the growth of spices’ demand. Emerging new and different flavors concerning the shifting consumer preferences are prominent for the spice extract producers. Herbs are primarily used extracts among the other sources of botanical extracts.
Based on Form, the Botanical Extracts Market has been bifurcated into powder and liquid. This Form of botanical extracts is mostly used in various applications, including meat, dairy, and bakery & confectionery, to make out the required aroma and taste and offer health benefits. These extracts are much stable over liquid Form and have more shelf life. Owing to this Form’s benefits, the powdered segment holds a significant share in the market and is anticipated to remain dominant in the forecasted years.
As per the Application, the botanical extracts are majorly applicable in food. Since the demand for bakery products has been rising with the increase in convenient food consumption. With the rise in the need for bakery and confectionery products, along with the rising preferences for organic flavoring agents, the market for botanical extracts in this sector is prominent. Since botanical extracts are organic, their “clean label” enables high preference by moderately inclined consumers towards natural products.
According to the geographical analysis, the North American region occupies the maximum botanical extracts market share, owing to the growing consumption of dietary supplements in this region. The surging costs of medical services have led to changes in consumers’ preferences, such as intake of healthy replacements in their daily routine and dietary supplements’ consumption.
Furthermore, the synthetics makeup consists of harmful preservatives and harsh chemicals which may cause adverse effects on the skin, including dark spots and skin allergies. This has resulted in high demand for organic beauty products worldwide, forcing global manufacturers to utilize botanical extracts from leaves, flowers, water, herbs, fruits, and minerals to manufacture organic cosmetics. The factor mentioned above is eventually resulting in the growth of the global market for botanical extracts.
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