NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
botanical extracts market size is estimated to grow by USD 3.2 billion from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
over 9.45% during the forecast period. Incidences of
chronic diseases increase demand for non-traditional drug
sources is driving market growth, with a trend
towards growing applications of botanical extracts in beverage
industry. However, high price of products poses a
challenge. Key market players include All Season Herbs Pvt. Ltd.,
Arjuna Natural Pvt. Ltd., Bell
Flavors and Fragrances GmbH, BI Nutraceuticals, Bio Botanica
Inc., Botanical Extracts EPZ Ltd., Carrubba Inc., Dohler GmbH,
Grupo Natac S.L.U., Indesso, International Flavors and Fragrances
Inc., Jairamdass Khushiram, Kalsec Inc., Kerry Group Plc, MB
Holding GmbH and Co. KG, NEXIRA, Prinova Group LLC, Ransom Naturals
Ltd., Synergy Flavors Inc., and Synthite Industries Pvt. Ltd..
![Technavio has announced its latest market research report titled Global botanical extracts market 2024-2028 Technavio has announced its latest market research report titled Global botanical extracts market 2024-2028](https://mma.prnewswire.com/media/2441529/IRTNTR70442_bw2.jpg)
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Botanical Extracts
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.45%
|
Market growth
2024-2028
|
USD 3241
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.42
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
34%
|
Key
countries
|
US, France, China,
Canada, and Germany
|
Key companies
profiled
|
All Season Herbs Pvt.
Ltd., Arjuna Natural Pvt. Ltd., Bell Flavors and Fragrances GmbH,
BI Nutraceuticals, Bio Botanica Inc., Botanical Extracts EPZ Ltd.,
Carrubba Inc., Dohler GmbH, Grupo Natac S.L.U., Indesso,
International Flavors and Fragrances Inc., Jairamdass Khushiram,
Kalsec Inc., Kerry Group Plc, MB Holding GmbH and Co. KG, NEXIRA,
Prinova Group LLC, Ransom Naturals Ltd., Synergy Flavors Inc., and
Synthite Industries Pvt. Ltd.
|
Market Driver
The botanical extracts market in the Food and Beverage industry
is growing due to consumer preference for health and natural
products, and increasing awareness in developing countries about
the benefits of botanicals as food ingredients. Botanical extracts
are used in brewing, soft drinks, and green tea, among others. The
global brewing enzymes market is expanding, particularly in
China and India. New beer flavors drive the use of
botanical extracts as functional additives. Botanical extracts are
also found in soft drinks, such as relaxation drinks, and beverages
like green tea and flavored water. These trends are expected to
continue driving the botanical extracts market.
The Botanical Extracts Market is experiencing significant growth
due to the increasing demand for natural ingredients in various
industries. Key botanical extracts in focus include those from
marketers, black seed, and chamomile. These extracts offer numerous
benefits such as antioxidant, anti-inflammatory, and antimicrobial
properties. Producers are investing in research and development to
improve extraction methods and expand their product offerings.
Additionally, the trend towards clean labeling and sustainable
sourcing is driving demand for botanical extracts. The market is
projected to continue growing, with key players focusing on
innovation and meeting the evolving needs of consumers.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The botanical extracts market is dominated by a few major
players, including BASF, Kerry, and DowDuPont. These companies
invest heavily in research and development, utilizing advanced
technology to ensure high-quality products. Their patenting of
discoveries increases costs for the food and beverage industry,
potentially impacting consumption in cost-sensitive developing
economies. Price fluctuations in herbs and spices may hinder market
growth in the forecast period.
- The Botanical Extracts Market faces several challenges in the
production and procurement process. These include the need for
sustainable sourcing of raw materials, regulatory compliance, and
ensuring consistency in product quality. The use of advanced
technologies like robotics and automation in extraction processes
can help increase efficiency and reduce costs. However, the high
cost of these technologies and the need for significant upfront
investment pose a challenge for smaller players in the market.
Additionally, the increasing demand for organic and natural
extracts requires suppliers to adhere to strict production
standards and certifications. Overall, navigating these challenges
requires a strong focus on innovation, sustainability, and
regulatory compliance.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This botanical extracts market report extensively covers market
segmentation by
- Application
- 1.1 F and B
- 1.2 Nutraceuticals
- 1.3 Cosmetics
- Type
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 F and B- Botanical extracts are essential
ingredients in the Food and Beverage industry, providing functional
benefits to various products. These extracts, including tea, herb,
and plant extracts, are in high demand due to the preference for
clean-label, transparent, and premium items. They offer health
advantages, such as anti-inflammatory, antioxidant, and
antibacterial properties. In meat products, extracts like rosemary
and berry are used for their antioxidant content and flavor
enhancement. Botanical extracts, such as coffee extract, are also
used as natural sweeteners, enhancing beverages' clean-label
claims. The market growth is driven by the increasing demand for
natural, healthy, and organic products.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Botanical Extracts Market encompasses the production and
distribution of natural compounds derived from plants. This sector
is witnessing significant growth due to the increasing demand for
novel extraction techniques in the production of dietary
supplements for deficiency diseases such as anemia, scurvy, and
rickets. Alternative medicine and convenience food are key
industries driving market expansion. The market is also influenced
by supply chain disruptions and raw material price fluctuations.
Cosmetic stores and functional food and beverage manufacturers are
significant consumers of botanical extracts, with applications
ranging from weight loss and blood sugar regulation to the
production of convenience food products like ready meals and
packaged snacks.
Market Research Overview
The Botanical Extracts Market encompasses the production and
supply of extracts derived from various plants and herbs. These
extracts are utilized in numerous industries, including food and
beverage, pharmaceuticals, cosmetics, and fragrances. The market is
driven by the growing demand for natural and organic products, as
well as the increasing awareness of the health benefits associated
with plant-based extracts. Key botanical extracts include turmeric,
ginger, ginseng, and echinacea, among others. The market is
expected to grow significantly in the coming years due to the
expanding applications of these extracts and the continuous
research and development in the field. The production process
involves the use of solvents such as water, ethanol, and CO2 to
extract the desired compounds from the plant material. The extracts
are then purified and concentrated to produce the final product.
The market is also influenced by various factors such as
regulations, pricing, and supply chain dynamics.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- F And B
- Nutraceuticals
- Cosmetics
- Type
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio