Botanical Extracts Market by Competitor Analysis, Regional Portfolio, and Forecast 2030
Botanical
Extracts Market Highlights
The Botanical Extracts Market 2023
across the review period till 2030. By 2030, the botanical extracts market can
surge at 9.50% CAGR. On the conclusion of review period, the global botanical
extracts market can value at USD 10.38 Bn. The
increase in demand for dietary supplements and surge in rising popularity of
botanical extracts as natural personal care products can promote expansion of
the worldwide market.
COVID 19 analysis of the botanical
extracts market
The botanical
extracts market is studied for public health emergency and long-term
effects of the pandemic on the industry growth in the review period. The easy
availability of botanical extracts in powder and liquid form, and their
increasing application in food and beverage processing can benefit the market.
The rise of the botanical extracts market can be driven by rise in personal
care applications and increase in awareness about other health benefits. On the
other hand, the limited availability of different botanical extracts can hamper
the market rise. However, the growing demand for organic ingredients can hold
lucrative opportunities in the years to come.
Key Players
Ransom Naturals Ltd (UK), Synthite
Industries Limited (India), Prinova Group LLC (US), Martin Bauer Group (Germany),
Synergy Flavors Inc. (US), Kalsec Inc. (US), and International Flavors &
Fragrances Inc. (US) are some prominent names in the worldwide Global Botanical
Extracts Market that are profiled by MRFR.
Segmental Analysis
The segment study of the Global Botanical
Extracts Market is based on Application, Form, and Source.
The form-based segments of the global
botanical extracts market are liquid and powder. The powder segment can surge
at 5.57% CAGR in the review period. The powder segment can retain its prominence
by 2030. The liquid segment can rise at 5.12% CAGR through the analysis period.
The increase in demand for herbs that are used for botanical extraction, such
as; mint, turmeric, rosemary, basil, bay leaf, chives, sage, and thyme can
support expansion of the market in the near future. The growing demand for
these herbs across pharmaceutical and food and beverages sectors can support
market rise in the review period.
The source-based segments of the market are
fruits, and herbs & spices among others. The herbs and spices segment can
secure the maximum market share by 2030. The fruits segment can surge at 6.44%
CAGR across the review period. The herbs segment comprises mint, turmeric,
rosemary, basil, bay leaf, chives, sage, and thyme. The spices segment
comprises cumin, ginger, garlic, coriander, and cloves. The rise in demand for
spices can cause the market to surge in the near future.
The application-based segments of the
global botanical extracts market are pharmaceuticals & nutraceuticals,
food, beverages, and personal care among others. The pharmaceuticals and
nutraceuticals segment can rise at about 5.00% CAGR in the analysis period. The
Pharmaceuticals & nutraceuticals segment can hold the largest market share
in the years to come.
Regional Analysis
North
America, botanical extracts market can surge with decent pace through the
review period. Europe botanical extracts market can secure substantial share of
the overall market by 2030. Asia Pacific can rise at 5.73% CAGR during the
forecast period. North America can secure a dominant share of the worldwide
botanical extracts market due to rapid rise in their demand as dietary
supplements. The US is observed to hold lucrative share of the global markets
in the region. The increase in demand for herbal medicinal products can also
boost the botanical extracts sales count, thus can support the regional market
rise.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of
Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013, United States of America
Comments
Post a Comment