In recent years, the popularity of natural ingredient-based cosmetics and personal care has increased among consumers across the globe. Thus, there is a rise in the need for botanical extracts-based cosmetics. Besides the natural essence, the botanical extracts have a particular functional property that enables the repair of skin damage.
Data Bridge Market Research analyses that the botanical extract market is expected to grow at a CAGR of 6.6% in the forecast period of 2021 to 2028 and is expected to reach USD 24,179.15 million by 2028. The increase in the health awareness among consumers is escalating the growth of botanical extract market.
The increase in demand for clean label products drives the market growth
Consumers' demand for cleans labels or natural products is on the rise. The rising customer awareness of naturally functional ingredients increases the market's need for clean label products. Moreover, the lifestyle of consumers across the globe is changing as they are becoming healthier and environmentally conscious, paving the way for the natural ingredients used in every product they use daily. Moreover, the botanical extracts are chemical residue-free, making them the prior choice for vegan consumers.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Spice Extracts, Herb Extracts, Flower Extracts, Tea 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)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E, Israel, Egypt, Rest of Middle East and Africa
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Market Players Covered
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Sensient Technologies Corporation (US), Givaudan (Switzerland), DSM (Netherlands), Döhler Group SE (Germany), Kerry Foods (Ireland), Sensient Technologies Corporation (US), Provital (Spain), Ingredion (US), Martin Bauer Group (Germany), Symrise (Germany), International Flavors & Fragrances Inc. (US), McCormick & Company, Inc. (US), Synthite Industries Ltd. (India), Bio-gen Extracts Private Limited (India), Plantnat (India), Native Extracts Pty Ltd (Australia), Kalsec Inc. (US), Carrubba INC (US), Organic Herb Inc (China), Bio Botanica, Inc. (US), and Blue Sky Botanics (UK), among other
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Data Points Covered in Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
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Segment Analysis:
Global botanical extracts market is segmented into four notable segments based on type, form, product type, and application.
Major Players
Data Bridge Market Research recognizes the following companies as the major botanical extracts market players in botanical extracts market Sensient Technologies Corporation (US), Givaudan (Switzerland), DSM (Netherlands), Döhler Group SE (Germany), Kerry Foods (Ireland), Sensient Technologies Corporation (US), Provital (Spain), Ingredion (US), Martin Bauer Group (Germany), Symrise (Germany), International Flavors & Fragrances Inc. (US), McCormick & Company, Inc. (US), Synthite Industries Ltd. (India), Bio-gen Extracts Private Limited (India), Plantnat (India), Native Extracts Pty Ltd (Australia), Kalsec Inc. (US), Carrubba INC (US), Organic Herb Inc (China), Bio Botanica, Inc. (US), and Blue Sky Botanics (UK), among other.
Market Developments
Regional Analysis
Geographically, the countries covered in the botanical extracts market report are U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, U.A.E, Israel, Egypt, Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in botanical extracts market during the forecast period
North America dominated the botanical extracts market due to consumers' growing awareness regarding fruits extracts. North America will continue to dominate the botanical extracts market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increase in the usage of fruit extract for cosmeceutical and nutraceutical purposes.
Asia-Pacific is estimated to be the fastest-growing region in botanical extracts market
Asia-Pacific is expected to grow during the forecast period of 2021 to 2028 due to the presence of highest number of botanical extract providers in Japan. In addition, increased demand for organic materials is expected to propel the market's growth rate in this region.
COVID-19 Impact Analysis
COVID-19 had a negative impact on various industries including botanical extracts market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The botanical extracts market adversely affected by due to the low availability of raw materials. The crisis caused disruption in the supply of raw materials that are utilized in the production botanical extracts in manufacturing companies.
On the brighter side, botanical extracts market is expected to witness growth in demand after the post-covid-19 situation owing to the ease on the restrictions and measures. The growing emphasis on use of botanical extracts due to the excessive spraying activity in several countries will assist the market in regaining its pace.
For more detailed information about the botanical extracts market report, click here – https://www.databridgemarketresearch.com/reports/global-botanical-extracts-market
Global Botanical Extracts Market – Industry Trends and Forecast to 2029
North America Botanical Extract Market - Industry Trends and Forecast to 2029
Europe Botanical Extract Market - Industry Trends and Forecast to 2029
Middle East and Africa Botanical Extract Market – Industry Trends and Forecast to 2028
Asia-Pacific Botanical Extract Market - Industry Trends and Forecast to 2029
Givaudan, International Flavors & Fragrances Inc., and Sensient Technologies Corporation dominated Asia-Pacific Botanical Extract Market in 2021
Sensient Technologies Corporation, Givaudan, and International Flavors & Fragrances Inc. dominated Europe Botanical Extract Market in 2021
Sensient Technologies Corporation, Givaudan, and Kerry Group plc dominated North America Botanical Extract Market in 2021