Botanical Ingredients Market

Global Botanical Ingredients Market Size (2024 to 2029)

Botanical Ingredients Market was expected at USD 186.17 billion by 2024 to 262.34 by 2029  with a CAGR of 7.10% 

MARKET DRIVERS AND RESTRAINTS:

The growing trends for proprietary labels in the pharmaceutical and food and beverage industries, along with growing consumer awareness of health and safety, are expected to have a positive impact on the global Botanical Ingredients market.

Botanicals Consumers persist in pushing the boundaries of clean label products driven by the current health and wellness trend and in the fight for authenticity in food and beverage products. Authentic consumption has not only become a major trend in food and beverages but has also brought the buying behaviour of buyers to an advanced level. Consumers are looking for natural, non-artificial ingredients that constantly strengthen the clean label on the Botanical Ingredients market. Products like ginseng, echinacea, ginkgo biloba, and garlic are considered the best-selling botanicals in the US Ginkgo biloba have become popular in the US as a natural remedy for it. Ginseng, on the other hand, is used in the wide variety and is well known for its high content of phenolic compounds, ginsenosides, and saponins, such as carotenoids and carbohydrates. Therefore, with the immense medical benefits, the botanical ingredient market is expected to witness significant growth during the forecast period.

REPORT COVERAGE: 

SEGMENTAL ANALYSIS

Botanical ingredients are obtained through the solvent extraction process of these raw materials. These ingredients are fuelling a high demand for cosmetic production to improve their quality. Also, the elements are also gaining ground in the processed food and beverage production industry to increase their nutritional value. This is attributed to its intensive use in various applications, such as bakery and confectionery, sauces and dressings, meat, soy, dairy products, dietary supplements, and medications. There is a growing demand to improve different approaches to control plant diseases.

Botanical plants extracted in powder form were widely used by ancient civilizations to develop palatability for food and beverages, as well as for their conservation characteristics. Due to its high shelf life and convenience, the segment is likely to have a positive impact on the botanical ingredient market in primary personal care and skin care products. The agri-food applications segment had the highest market share of 34.7% in 2019. The segment is expected to experience substantial growth due to the sharp increase in demand for ready-to-eat food, leading to an increase in the manufacturing sector, particularly in emerging countries like India, China and Brazil. Botanical ingredients in functional foods used in various applications such as bakery and grains, soy products, dairy products, meat, fish and eggs, as well as fats and oils. Also, with further technological advancement, these products are expected to be used in many niche applications.

Global Botanical Ingredients Market Analysis By Source:

• Fruits
• Herbs
• Spices
• Flowers
• Others

Global Botanical Ingredients Market Analysis By Form:

• Powder
• Liquid
• Others

Global Botanical Ingredients Market Analysis By Application:

• Cosmetic
• Personal Care
• Dietary Supplements
• Food & Beverages

REGIONAL ANALYSIS

North America accounted for the largest share with 35.8% in 2019 in terms of revenue and is expected to experience increased demand during the outlook period due to the increasing use of low-quality products in calories and high nutritional content. Additionally, increasing awareness of the consumption of healthy food products in Mexico due to the launch of new products is expected to promote outreach during the forecast period. Increasing awareness of nutritional fortification among professionals working in the United States and Canada to maintain a balanced diet in the human body is expected to fuel consumption of dietary supplements in the next eight years. Additionally, high rates of herbal drug adoption among people located in the United States and Canada, due to growing concerns about the dangerous effects associated with conventional pharmaceutical drugs, are expected to increase the size of the market over the course of the year forecast period.

The Asia-Pacific is expected to grow with the fastest growth during the forecast period. Favorable government policies in agricultural trade to stimulate food and attract investment in the botanical ingredient market have created full potential for growth in the region. Countries such as China, India, South Korea, Japan and Taiwan depend to some extent on agriculture for economic growth, as the sector contributes significantly to its GDP. Europe has been a key pharmaceutical region worldwide due to the presence of pharmaceutical giants such as Bayer AG and Novartis. The research-based pharmaceutical industry in the region has led to new developments and product launches, which is considered the main driver of the pharmaceutical industry in the region.

KEY PLAYERS IN BOTANICAL INGREDIENTS MARKET:

Key Players In Botanical Ingredients Market are Saba Botanical, PT. INDESSO AROMA, BERJÉ INC, Ambe Phytoextracts Pvt Ltd, The Green Labs LLC, New Directions Aromatics Inc, Rutland Biodynamics.

RECENT HAPPENINGS IN THE MARKET:

• In January 2015, Frutarom Industries Ltd., one of the 10 largest global companies in the field of fine specialty flavors and ingredients, continues its drive for acquisitions and the implementation of its rapid and profitable growth strategy: the company announced the signing of an agreement to buy Vitiva shares from Slovenia for a cash payment of approximately US $ 10 million.
• Lubrizol Corporation which is based in Wickliffe has completed the purchase of Laboratoire Phenobio, a French provider of natural extracts and other active ingredients.
• Health Sciences Group, Inc., an integrated provider of innovative products and services to the nutraceutical, pharmaceutical, and cosmeceutical industries, announced that it has completed the acquisition of virtually all of the assets and businesses of Quality Botanical Ingredients, Inc.

DETAILED SEGMENTATION OF GLOBAL BOTANICAL INGREDIENTS MARKET INCLUDED IN THIS REPORT      

This research report on the Global Botanical Ingredients Market has been segmented and sub-segmented based on Source, Form, Application & region.        

By Source:

• Fruits
• Herbs
• Spices
• Flowers
• Others

By Form:

• Powder
• Liqui
• Others

By Application:

• Cosmetic
• Personal Care
• Dietary Supplements
• Food & Beverages

By Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa