Middle East and Africa Botanical Extract Market, By 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), Country (South Africa, Saudi Arabia, UAE, Egypt, Israel, Kuwait and rest of Middle East and Africa) Industry Trends and Forecast To 2028.
Market Analysis and Insights : Middle East and Africa Botanical Extract Market
The Middle East and Africa botanical extract market is expected to gain significant growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.4% in the forecast period of 2021 to 2028 and is expected to reach USD 594.87 million by 2028. Increasing demand for Botanical extracts in food and beverage, pharmaceutical, and cosmetics & personal care industries continue to increase. Factors driving the growth of the botanical extracts market are growing usage of botanical extracts in food & beverages industries and rising usage of botanical extracts in pharmaceutical and personal care & cosmetics industries.
Increasing applications of various botanical extracts, such as spice & herb extracts in combination with other ingredients, in various food products to enhance the flavor are another factor expected to drive the Middle East and Africa botanical extracts market growth in the coming years. However, stringent government regulations on botanical extracts will restrict the market growth in the forecast period.
Several companies are making strategic decisions such as forming agreements with research facilities to launch new products to improve their market share. As a result, the botanical extracts market is growing at a rapid rate.
- In 2019, Febraury Doehler launched natural herb and spice extracts and natural blossom flavors. This launch was aimed at meeting the rapidly increasing demand for botanical flavors in the food and beverages industry.
- In 2015, Kalsec, Inc. introduced the extension of specialty pepper product line at IFT in Chicago. The new chili pepper varieties include cayenne, pasilla, and ghost pepper extract in response to consumer demand for more specialized extracts.
The Botanical Extract market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Botanical Extract market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Botanical Extract Market Scope and Market Size
Middle East and Africa botanical extracts market is segmented into four notable segments based on type, form, product type, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the Middle East and Africa botanical extracts market is segmented into spice extracts, herb extracts, flower extracts, tea extracts, fruit extracts, and marine plant extracts. In 2021, the herb extracts segment is expected to dominate the market due to increasing awareness about the nutritional benefits of herbal extracts.
- On the basis of form, the Middle East and Africa botanical extracts market is segmented into powder, liquid, and leaf extracts. In 2021, the powder segment is expected to dominate the market owing to wide application of powder extracts in various end user industries.
- On the basis of product type, the Middle East and Africa botanical extracts market is segmented into organic and conventional. In 2021, the conventional segment is expected to dominate the market owing to increased production of botanical extracts using chemical solvents.
- On the basis of application, the Middle East and Africa botanical extracts market is segmented into food products, sports nutrition, beverages, pharmaceutical, nutraceutical, personal care & cosmetics, aromatherapy, animal feed, and others. In 2021, the nutraceutical segment is expected to dominate the market due to the increasing health consciousness among consumers in the region.
Botanical Extract Market Country Level Analysis
The Middle East and Africa botanical extract market is analyzed and market size information is provided based on country, type, form, product type, and application as referenced above.
The countries covered in the Middle East and Africa botanical extract market report are South Africa, Saudi Arabia, UAE, Egypt, Israel, Kuwait, and Rest of Middle East and Africa.
Fruit extract segment in the Middle East & Africa region is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 because of increase in awareness regarding benefits of fruit extracts among consumers. The herb extract segment in South Africa is dominating the Middle East and Africa market owing to increasing usage of herb extract for cosmeceutical and nutraceutical purposes. UAEis leading in the botanical extract market of the Middle East and Africa due to presence of highest number of botanical extract providers in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Botanical Extract, is Boosting the Market Growth of Botanical Extract market.
The Middle East and Africa botanical extract market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Botanical Extract Market Share Analysis
Botanical Extract market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to botanical extract market.
Major companies operating in the Middle East and Africa botanical extract market are Sensient Technologies Corporation, Givaudan, DSM, Döhler Group SE, Kerry Foods, Sensient Technologies Corporation, Provital, Ingredion, Martin Bauer Group, Symrise, International Flavors & Fragrances Inc., McCormick & Company, Inc., Synthite Industries Ltd. , Bio-gen Extracts Private Limited, Plantnat, Native Extracts Pty Ltd, Kalsec Inc., Carrubba INC, Organic Herb Inc, Bio Botanica, Inc., and Blue Sky Botanics among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Several contracts and agreements are also initiated by the companies worldwide, which are also accelerating the Botanical Extract market.
- In September 2020, Martin Bauer group announced the acquisition of core botanica, which is a leading manufacturer of customized leaf products. This helped the company expand its product portfolio.
- In June2018, Organic Herb, Inc. exhibited its products at IFT exhibition held at Chicago. This helped the company attract consumers across the world, which helped increase the company’s sales and revenue.