Rockville , Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global botanical extract market is projected to be valued at US$ 13.5 billion by the end of 2033, expanding at 8% CAGR between 2023 and 2033, as per a new study conducted by Fact.MR, a market research and competitive intelligence provider.
Botanical extracts have gained immense popularity due to their health benefits and diverse applications across industries, driving market growth. As consumer preferences evolve, the botanical extract market is expected to continue expanding, presenting opportunities for manufacturers, suppliers, and retailers to cater to the demand for natural and sustainable products. Asia Pacific and Europe are set to be key regional markets in this business.
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Product launches have increased in the market with several companies jostling for a higher market share.
- L'Oréal launched Botanicals, a new line of hair care products containing botanical extracts such as rose, lotus, and chamomile.
| Report Attribute | Details |
| Value Projection (2033) | US$ 13.5 Billion |
| Growth Rate (2023-2033) | 8 % CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 30 Tables |
| No. of Figures | 127 Figures |
Key Takeaways from Market Study
- The global botanical extract market was valued at US$ 5.7 billion in 2022.
- Worldwide demand for botanical extracts is valued at US$ 6.16 billion in 2023.
- The global market is projected to reach US$ 13.5 billion by the end of 2033.
- Sales of botanical extracts are predicted to rise at a CAGR of 8% from 2023 to 2033.
- The powder segment is predicted to advance at 7.5% CAGR and reach a market size of US$ 7.8 billion by 2033-end.
- The market in Asia Pacific is forecasted to account for a share of 39% in 2033.
- The food and beverages segment accounted for 49% share of the market in 2022.
- Europe held 44% share of the global market in 2022.
"The botanical extract market is poised for substantial growth, driven by the convergence of health-conscious consumers, expanding applications, and a shift towards natural ingredients in various industries. Botanical extracts, with their rich blend of bioactive compounds, provide many health benefits and are at the forefront of the global shift towards cleaner labels and eco-friendly alternatives," says a Fact.MR analyst.
Key Companies Profiled In this Report
- Ransom Naturals Limited
- International Flavors and Fragrances Inc.
- Synthite Industries Limited
- Martin Bauer Group
- Kalsec Inc
- Blue Sky Botanics Ltd.
- Dohler GmbH
- Frutarom Industries Ltd.
- P.T. Haldin Pacific Semesta
- Prinova Group LLC
- PT Indesso Aroma
- Synergy Flavors
- Bell Flavors & Fragrances
- Nutra Green Biotechnology Co. Ltd.
- Kuber Impex Ltd.
- Nexira
- Haldin Natural
- MB-Holding GmbH & Co. KG
- Fytosan
- BI Nutraceuticals
Demand for Natural and Sustainable Beauty Products Growing
The cosmetics and skincare industry is undergoing significant transformation as consumer preferences shift towards natural and sustainable beauty solutions. Instead of focusing solely on appearance, the industry is now emphasizing skin health and overall well-being. Ingredients with calming and antioxidant properties, such as aloe vera, chamomile, and green tea, are popular creams and serums.
Consumers are increasingly seeking cruelty-free, vegan, and environmentally friendly options, prompting businesses to adopt environmentally friendly packaging and sustainable components. The clean-beauty movement also pushes manufacturers to prioritize skin safety by requiring products to be free of harmful chemicals, parabens, and synthetic fragrances.
AI-powered skin analysis technologies provide customized recommendations. Natural, eco-conscious, and personalized beauty solutions are reshaping the industry, and botanical extracts are a key component. In this changing landscape, brands that embrace these trends and align with consumer values are likely to thrive.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the botanical extract market for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on source (flowers, herbs, fruits, spices, tea leaves, others), form (powder, liquid, leaf extracts), application (cosmetics & skincare, pharmaceuticals, food & beverages, others), type (organic, conventional), and technology (CO2 extraction, solvent extraction, steam distillation, enfleurage, others), across major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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