Global Botanical Extracts Market Report Description
The report gives a comprehensive outlook on botanical extracts across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of source, form, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global botanical extracts market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global botanical extracts products.
Botanical Extracts Market Size
The global botanical extracts market estimated to be valued US$ 4.2 Bn in 2018 and poised to grow at significant CAGR of 9.3% over 2019-2025. Some of the key factors influencing the market growth include rise in awareness regarding the side-effects of synthetic flavors, increase in application of botanical extracts, growing awareness and health concerns among consumers, increase in the demand for convenience food, rise in the demand for convenience food and long shelf life of botanical extracts. However, availability of substitutes and varying prices of herbs & spices are hampering the market growth.
Increase in Application of Botanical Extracts are Fueling the Market Growth
Botanical extracts are progressively becoming significant flavor in food industry due to their antimicrobial and antioxidant abilities that interrupt the development of off-flavors and enhance the color stability in ready-to-eat meat products. It provides a unique opportunity to provide emotive concepts and claims and really boost the value of cleaning formulations. Also, there is a growing application of botanical extracts in the beverage industry is one of the key market trends. Botanical extracts are used in the manufacturing of wine and beer. The need for botanical extracts as functional beer additives is high due to the demand for new beer flavors. It is also found its application in sauces, bakery & confectionery, carbonated soft drinks, flavored dairy products, pharmaceutical, cosmetic & personal care and others.
Asia Pacific Accounts for Larger Market Revenue Share in Global Botanical Extracts Market
Asia Pacific accounted for larger revenue share in market with considerable CAGR. The growth in this region is due to increasing concerns about healthy lifestyles, growing demand for organic processed food & beverages and shifting consumer preference towards natural products. India and China are the major contributor for the growth of the market in the region owing to rapid economic growth. North America held significant market share during estimated period as numerous key players are favoring towards natural herb products.
- Tea Leaves
- Bakery & Confectionery
- Carbonated soft drinks
- Alcoholic beverages
- Flavored Dairy products
- Cosmetic & personal care
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
- Frutarom Industries Ltd.
- Blue Sky Botanics Ltd
- Indesso Aroma
- Synergy Flavors
- Kalsec Inc.
- Synthite Industries Ltd.
- Döhler GmbH
- BI Nutraceuticals
- Nutra Green Biotechnology Co., Ltd
- Mb-Holding GmbH & Co. Kg
The market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In Nov 2018, FutureCeuticals, Inc. introduced S7, which was added to the sports nutrition line of the branded products.
Key Findings of the Report:
- Global botanical extracts market expanding at significant CAGR over 2019 to 2025 due to rise in awareness regarding the side-effects of synthetic flavors
- Based on source, herbs segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global botanical extracts market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market