Botanical Ingredients - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Botanical Ingredients Market is accounted for $4.42 billion in 2018 and is expected to reach $11.12 billion by 2027 growing at a CAGR of 10.8% during the forecast period. Some of the key factors propelling the market growth include rapid increase in demand for organic food and personal care products, rising consumer acceptance of bio-based products, rising consumer awareness towards health and safety. However, availability of substitutes is restricting the market growth.
Botanical ingredients are derived from sources, such as flowers, roots, and leaves of various plants containing bioactive compounds. These products are obtained by the process of solvent extraction of these raw materials. They are herbal in nature and can exist in semi-solid, solid, and liquid state. These ingredients are witnessing high demand for the manufacturing of cosmetics to improve their quality.
By primary ingredient, fruits & vegetables extracts segment is expected to grow at the significant rate during the forecast period, owing to their widespread usage in the food and beverage and personal care product manufacturing industry. These extracts are used to give a natural quality to the end products, which increases their nutritional value, consumer safety & satisfaction.
On the basis of geography, Asia Pacific is projected to be the signficant-growing market for botanical ingredients during the forecast period, due to shifting consumer preference toward natural products and increasing concerns about healthy lifestyles. Moreover, the rapid economic growth in the region is expected to propel high demand for such ingredients, especially in China, India, and the Southeast Asian countries. India was the largest revenue contributor to the Asia-Pacific market.
Some of the key players in botanical ingredients market include Rutland Biodynamics Ltd, PT. INDESSO AROMA, The Herbarie at Stoney Hill Farm, Inc., Bell Flavors & Fragrances, New Directions Aromatics Inc., Ambe Phytoextracts Pvt Ltd, Frutarom Ltd, Lipoid Kosmetik AG, BERJÉ INC, Prakruti Products Pvt. Ltd., Saba Botanical, The Green Labs LLC, and Umalaxmi Organics Pvt. Ltd.
Product Types Covered:
• Plant Oils
• Plant Colorants
• Resin Extracts
• Plant Extracts
Primary Ingredients Covered:
• Fruits & Vegetable Extracts
• Grain Extracts
• Herbal Extracts
• Tea Extracts
• Floral Extracts
• Pharmaceutical Industries
• Food and Beverage
• Personal Care
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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