Botanical Extracts Market size is anticipated to exceed USD 11 billion by 2030, as per a new research report announced by Global Market Insights Inc.
Increasing integration of botanical extracts in cosmetics and personal care products to emerge as one of the leading factors strengthening the market outlook. On the back of the growing aspirations to look good and lead a healthy lifestyle, in consort with the improving family incomes of the middle class, the beauty, cosmetics, and personal care industry may experience unprecedented growth in the coming years.
According to the IBEF estimations, the cosmetics and grooming market in India is expected to be worth USD 20 billion by 2025, with the herbal cosmetics industry likely to register a growth of about 12% by 2025 since 2016. The emergence of several herbal beauty care and cosmetics brands may foster the demand for botanical extracts during the projection period.
Positive health outcomes to bolster the demand for flower-sourced botanical extracts
Based on the source, the flower segment accounted for more than 16% market share in 2021 and is projected to record a valuation worth USD 2 billion by 2030. It is being noticed that many flowers such as hibiscus, lavender, and dandelion are rich in antioxidants and anti-inflammatory compounds. They are known to provide a calming effect and help reduce cholesterol and blood pressure levels. The increasing utilization of flower-based botanical extracts in several applications across the pharmaceuticals and F&B industries may help the segment grow substantially throughout the forecast period.
Liquid botanical extracts to gain traction due to extended shelf life
Botanical extracts market from liquid segment was worth USD 2 billion in 2021 and is poised to register 7% CAGR through 2030. Liquid form of herbal extracts is far more concentrated than the original herb and allow optimal absorption. They have a longer shelf life and tend to bring quicker outcomes compared to other forms of plant extracts, fostering their adoption over the coming years. Besides, their ability to blend with different formulations without prior dissolution and their increasing usage in manufacturing several cosmetics and medicines may favor segment growth.
Browse key industry insights spread across 247 pages with 251 market data tables & 25 figures & charts from the report, “Botanical Extracts Market Size By Source (Flowers, Herbs, Fruits, Spices, Tea Leaves, Others), By Form (Powder, Liquid), By Application (Cosmetics & Skincare, Pharmaceutical, Food & Beverages, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2030” in detail along with the table of contents:
Exceptional medicinal benefits to foster product adoption across the pharmaceuticals industry
Botanical extracts market share from pharmaceutical applications is likely to exhibit above 7% CAGR over the forecast period and register a valuation worth USD 4 billion by 2030. Botanical extracts, derived from medicinal plants, are extensively used across the pharmaceutical industry to manufacture several medicines and nutraceutical products. The growing pervasiveness of several deficiency diseases and the surging focus on boosting immune response and adopting a healthy lifestyle may bolster the industry outlook over the assessment timeframe.
Rising health concerns to drive product demand across North America
North America botanical extracts market is touted to reach USD 4 billion by 2030, exhibiting over 7% CAGR between 2022-2030. The rapid expansion of the functional beverages industry, coupled with the changing lifestyles and increasing health consciousness of consumers may foster the usage of botanical extracts in the region. In addition, inflowing R&D investments and the development of innovative botanical extracts will further augment business growth in North America.
New product development to define the competitive landscape
Leading players in the botanical extracts market include Lipoid-Kosmetik, Nektium, Ambe NS Agro Products Pvt. Ltd., Berkem, Blue Sky Botanics Ltd., Synergy Flavors, Ransom Naturals Ltd., Kalsec Inc., Synthite Industries Ltd., Döhler GmbH, Nutra Green Biotechnology Co., Ltd., Kuber Impex Ltd., Mb-Holding GmbH & Co. Kg, Bell Flavors & Fragrances, Martin Bauer Group, International Flavors & Fragrances Inc., Botanica, and Native Extracts.