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Botanical Extracts Market Size
- Report ID: GMI5362
- Published Date: Sep 2022
- Report Format: PDF
Botanical Extracts Market Size
Botanical Extracts Market size surpassed USD 6 billion in 2021 and is anticipated to witness over 7% CAGR from 2022 to 2030. Usage of novel extraction techniques to create new growth prospects throughout the forecast period.
The surging demand for dietary supplements driven by the growing prevalence of deficiency diseases such as anaemia, scurvy, rickets, etc., is likely to bolster the demand for botanical extracts in the forthcoming years. According to the World Health Organization (WHO), Anaemia, a severe global public health issue caused by the deficiency of Vitamin B12 & A and folate, affects almost 42% children below the age of 5 years and about 40% of pregnant women globally.
A significant shift in dietary habits and the increased consumption of processed food have resulted in improper nutrition among children and adults. In order to compensate for the improper diet, there is surge in dietary supplements which is fostering product adoption. However, fluctuations in raw material prices due to variable demand and supply may act as a growth barrier. The integration of advanced extraction methods may fuel the botanical extracts industry's expansion throughout the projection period.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Botanical Extracts Market Size in 2021: | 6 Billion (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 7% |
| 2030 Value Projection: | 11 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 247 |
| Tables, Charts & Figures: | 276 |
| Segments covered: | Source, Form, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Botanical Extracts Market Scope
