Global Botanical Extracts Market is projected to be valued at USD 25,151.7 Million by 2025, expanding at a CAGR of 5.45% during the forecast period. Botanical extracts are available in powder and liquid form, and their use is increasing in food and beverage processing, especially functional beverages. The growth of the global botanical extracts market is driven by increasing use in personal care applications along with health benefits offered by botanical extracts. However, the limited availability of botanical extracts is hampering the growth of the market. The increasing demand for organic ingredients is expected to offer lucrative opportunities to market players in the coming years.
Botanical
Extracts market manufacturers
North America constituted a dominant share of the botanical
extracts market in 2018, owing to the increasing demand for dietary
supplements. The US, followed by Canada, are lucrative markets for
manufacturers in the region. The rising demand for herbal medicinal products
and supplements has further boosted the sales of botanical extracts in North
America. The market in Asia-Pacific is anticipated to exhibit the highest CAGR
during the review period. China is a major botanical extract market in the
region due to the increasing adoption of dietary supplements. Other factors,
such as increasing demand for natural food ingredients and additives among
consumers is expected to drive the growth of the botanical extracts market in
the region. The increasing awareness and availability of these supplements in
Asia-Pacific are expected to provide lucrative opportunities to botanical
extract manufacturers in the coming years.
Segmental Analysis
The Global Botanical Extracts Market has been segmented based
on Form, Source, Application, and Region.
By form, the global market has been divided into powder and
liquid. The powder segment accounted for the maximum market
share in 2018, whereas the same segment is expected to register the highest
CAGR of 5.57% during the forecast period. The herbs primarily used for
botanical extraction are turmeric, rosemary, mint, basil, chives, sage, bay
leaf, and thyme. The demand for such herbs is increasing at a high pace due to
its wider application in food and beverages and pharmaceutical products across
the globe.
Regional Analysis
Geographically, the Global Botanical Extracts Market
has been categorized into North America, Europe, Asia-Pacific, and the rest of
the world. As per MRFR analysis, North America dominated the market, accounting
for the largest share in 2018. Europe botanical extracts market accounted
for the second-largest market share in 2018. Asia-Pacific is projected to
register the highest CAGR of 5.73% during the forecast period.
Key Players
Market Research Future has identified Ransom Naturals
Ltd (UK), International Flavors & Fragrances Inc. (US), Synthite Industries
Limited (India), Martin Bauer Group (Germany), Prinova Group LLC (US), Synergy
Flavors Inc. (US), and Kalsec Inc. (US) as the Key Players in the
Global Botanical Extracts Market.
Complete Report Details @ https://www.marketresearchfuture.com/reports/botanical-extracts-market-4824
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