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Redding, California - December 1, 2021

Botanical Extracts Market Worth $10.1 Billion by 2028

Botanical Extracts Market by Source (Spices, Fruits, Herbs, Flowers, Roots, Tea Leaves), Form (Powder, Semi-Solid), Application (Food {Bakery and Confectionery}, Beverages {Alcoholic Beverages}, Pharmaceutical), and Geography – Global Forecast to 2028


Meticulous Research® – a leading global market research company published a research report titled “Botanical Extracts Market by Source (Spices, Fruits, Herbs, Flowers, Roots, Tea Leaves), Form (Powder, Semi-Solid), Application (Food {Bakery and Confectionery}, Beverages {Alcoholic Beverages}, Pharmaceutical), and Geography– Global Forecast to 2028”.

According to this latest publication from Meticulous Research®, the global botanical extracts market is expected to grow 9.2% CAGR from 2021 to reach $10.1 billion by 2028. The growth of the botanical extracts market is mainly attributed to the increasing health and wellness trend with consumption of natural health products, growing demand for convenience food, increasing awareness regarding the benefits of herbal products over synthetic products, and rising demand for botanical extracts in the food and other application. Further, the emergence of new application areas in accordance with changing consumer trends and increasing investment in emerging economies is expected to offer lucrative opportunities in the forecasted period. However, the availability of substitute products is expected to hinder the growth of this market to some extent.

The botanical extracts market is mainly segmented based on source, form, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on source, the global botanical extracts market is segmented into spices, fruits, herbs, flowers, roots, tea leaves, and others. The spices segment is expected to account for the largest share of the global botanical extracts market in 2021. The large share of this market is mainly attributed to the increasing acceptance of ethnic cuisines and healthy foods in various countries, growing consumption of convenience, processed, and ready-to-eat dishes, rising awareness of the medicinal properties of spice extracts coupled with their use in novel food recipes, and potential growth for ginger, dried capsicum/pimenta, pepper, Curcuma, cinnamon, and cloves extract in the European market.

Based on form, the global botanical extracts market is segmented into liquid, powder, and semi-solid. The powder segment is estimated to witness rapid growth during the forecast period. The growth of this market is mainly attributed to the growing use of powder in various applications, including sports drinks, meat, dairy, bakery & confectionery, and high health benefits over the other forms. In addition, these extracts are much stable over liquid form and have an extra shelf life.

Based on application, the global botanical extracts market is segmented into food, beverages, cosmetics and personal care, pharmaceutical, and others. The food segment is expected to account for the largest share of the global botanical extracts market in 2021. The large share of this market is mainly attributed to the rise in the need for bakery and confectionery products, along with the rising preferences for organic flavoring agents, rising consumer demands for natural food ingredients, increasing demand for convenience food, and growing popularity of international cuisine in various countries.

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Geographic Review

Geographically, Asia-Pacific is estimated to witness rapid growth during the forecast period of 2021—2028. The fast growth of this market is mainly attributed to the growing consumer awareness inline the advantages of intake of products that involve natural plant-derived extracts, rapid economic growth in the country, especially in China, India, and Southeast Asia is expected to push high demand for natural ingredients, and increasing concerns about healthy lifestyles. In addition, the growing demand for organic processed food & beverages is expected to drive the demand for botanical extract in the Asia-Pacific.

Key Players

The key players operating in the global botanical extracts market are Ransom Naturals Ltd. (U.K.), International Flavors & Fragrances Inc. (U.S.), Synthite Industries Ltd. (India), Martin Bauer Group (Germany), Kalsec, Inc. (U.S.), Synergy Flavors Inc. (U.S.), Prinova Group (U.S.), PT. Indesso Aroma (Indonesia), Döhler GmbH (Germany), Bell Flavors & Fragrances (U.S.), Nutra Green Biotechnology Co., Ltd. (China), Kuber Impex Ltd. (India), among others.

Key questions answered in the report-

  • Which are the high-growth market segments in terms of the source, form, application, and countries/regions?
  • What is the historical market for botanical extract across the globe?
  • What are the market forecasts and estimates for the period 2021–2028?
  • What are the major drivers, restraints, and opportunities in the global botanical extracts market?
  • Who are the major players in the global market, and what market share do they hold?
  • Who are the major players in various countries, and what share of the market do they hold?
  • How is the competitive landscape?
  • What recent developments have taken place in the global botanical extracts market?
  • What are the different strategies adopted by the major players in this market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the global botanical extracts market, and how do they compete with the other market players?

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Botanical Extracts Market - Global Opportunity Analysis And Industry Forecast (2021-2028)
Report ID: MRFB - 104498 Pages: 318 Formats*:PDF Category: Food and Beverages
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