Global Botanical Extracts Market is expected to reach USD 5,833.4 million by 2022, supported by a CAGR of 8.8% during the forecast period of 2017 to 2022. The botanical extracts market is mainly driven by the growing awareness of health and wellness and trend towards the natural health products, strict regulations regarding inclusion of synthetic flavours, growing population in developing countries discovering the health benefits of botanicals, increase in demand for convenience food, and growing demand of botanical extracts in herbal medicinal products. Moreover, increasing investments in emerging economies, and the emergence of new application areas with changing consumption trends provides significant opportunities within the food and beverage markets. However, the availability of substitutes such as synthetic flavour is expected to hinder the growth of this market to some extent.
The global botanical extracts market is mainly segmented by source (spices, herbs, flowers, and tea leaves), by form (powder and liquid), and by the application (food, beverages, cosmetics, and pharmaceuticals). With their versatile functional properties, the application areas of botanical extracts have been increased significantly in cosmetics and personal care products.
Geographically, the global botanical extracts market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. North America accounted for the major share in the global botanical extracts market in 2016, followed by Europe, and Asia-Pacific. The major share of the North American region is mainly attributed to the increasing functional food consumption, growing health consciousness, and changing diseases pattern in the region. On the other hand, Asia-Pacific region is projected to grow at the fastest CAGR during the forecast period, mainly due to increasing disposable income, growing urbanization, increasing prevalence of various chronic diseases such as diabetes, and rising demand for healthy & natural products.
The key players in the global botanical extracts market are Frutarom Industries Ltd., Blue Sky Botanics Ltd., Ransom Naturals Ltd., Prinova Group LLC., Pt. Indesso Aroma, Synergy Flavors, Inc., Haldin Pacific Semesta, PT, Kalsec Inc., Synthite Industries Ltd., D?hler GmbH, BI Nutraceuticals, Nutra Green Biotechnology Co. Ltd., Kuber Impex Ltd., and Mb-Holding GmbH & Co. Kg.
Scope of the Report
Market by Source
- Tea Leaves
Market by Form
Market by Application
Market by Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Key questions answered in the report
- Which are the high growth market segments in terms of source, form, application, and regions/countries?
- What is the historical market for botanical extracts across the globe?
- What are the market forecasts and estimates from the period 2015-2022?
- What are the major drivers, challenges, opportunities, and challenges in the global botanical extracts market?
- Who are the major players in the global botanical extracts market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- What are the competitive landscapes and who are the market leaders by sub-region in the global botanical extracts market?
- What are the recent developments in the global botanical extracts market?
- What are the different strategies adopted by the major players in the global botanical extracts market?
- What are the geographical trends and high growth regions/ countries?
- Who are the local emerging players in the global botanical extracts market and how do they compete with the global players?