Growing Demand for Naturally Sourced Supplements to Drive Botanical Extracts Industry
The botanical extracts market is mainly driven by the growing demand for botanical extracts in pharmaceuticals, nutraceuticals, personal care products, and other applications in the healthcare and personal care industry. The latest research report from Market Research Future (MRFR) attempts to provide readers with a comprehensive outlook of the global botanical extracts market, including an analysis of the market’s leading drivers and restraints, the market’s major players, and the major economic and regulatory factors affecting the market’s growth trajectory. The competitive landscape of the global Botanical Extracts Industry is also studied in the report.
Botanical extracts contain a wide variety of natural chemicals and are extracted from sources, such as leaves, flowers, fruits, herbs, and others. While widely used in traditional medicine for millennia, the potential of botanical extracts in mainstream Western medicine are only now coming to the fore, following increasing research into organic chemistry and how natural substances can be assimilated into medical formulations designed to treat or prevent human conditions. Phenols, terpenoids, and resins are just some of the components obtained from botanical sources. These chemicals have excellent antioxidant properties, making them viable candidates for use in anti-blood pressure and anti-stress medication, among others. These substances may also have a positive impact on the immunity of the organism in question, boosting immunity by natural means and making the organism more resistant to diseases, thus reducing medical expenditure in the long run.
Competitive Analysis:
Leading players in the global botanical extracts market include BI Nutraceuticals Inc., Kalsec Inc., Synergy Flavors Inc., Prinova Group LLC, Frutarom Industries Ltd., Ransom Naturals Ltd., and Blue Sky Botanics Ltd.
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In October 2019, DolCas Biotech launched bergacyn, a blend of botanical extracts taken from the Italian Bergamot citrus and the wild-crafted Italian artichoke thistle leaf. The launch announcement was made following the acquisition of USDA and EU certifications.
Segmentation:
The global botanical extracts market is segmented on the basis of source, extract form, application, and region.
By source, the global botanical extracts market is segmented into herbs, fruits, flowers, leaves, spices, and others. The spices segment holds the largest share in the market, followed by leaves. Spices are dense in organic chemicals and provide many beneficial effects against cardiovascular and neurological conditions, making them widely popular in pharmaceuticals and dietary supplements.
By extract form, the global botanical extracts market is segmented into powder, liquid, and others. Powdered botanical extracts dominate the global botanical extracts market. Powdered botanical extracts have a longer shelf life than liquid botanical extracts, which is a key driver for the powdered botanical extracts segment.
By application, the global botanical extracts market is segmented into food, beverages, other FMCG products including personal care and cosmetic products, pharmaceuticals, nutraceuticals, animal feed, and others. Food and beverages are likely to be the dominant segments in the global botanical extracts market, accounting for the largest share in the revenue of the market.
Regional Analysis:
North America is the dominant regional market for botanical extracts, followed by Europe. Increasing awareness about the all-natural substances found in botanical extracts has led to a growing demand from the botanical extracts market in North America. Growing demand for organic, naturally produced pharmaceuticals and dietary supplements is also likely to be a key driver for the botanical extracts market in North America. Food and beverages in North America are widely enhanced and supplemented by the addition of a number of botanical extracts, leading to widespread demand from the botanical extracts market. Europe is also a major regional market for botanical extracts, due to the growing demand for organic and green label foods.
North America and Europe are also the hotbed of research and technological development in botanical extracts, leading to steady growth of the botanical extracts market in these two regions. Major players in the botanical extracts market are situated in these regions, leading to steady growth of the market in these regions.
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