Botanical Extracts Market is Anticipated to Undergo a Significant Growth Through 2025
Increasing demand of
botanical extracts from various end use industries including food &
beverage sector is acting as key growth factor for global botanical extracts market.
According
to TechSci Research report, “Global Botanical
Extracts Market By Application (Bakery & Confectionery, Sauces and
Dressings, Alcoholic Beverages, Carbonated Soft Drinks, Iced Teas, Flavored
Dairy Products and Others), By Form (Powder and Liquid), By Source (Spices,
Herbs, Tea leaves and Flowers), By Region, Forecast & Opportunities, 2025”, the market
is expected to undergo a rapid growth during the forecast period on account of
growing consumer awareness towards health and wellness products and increasing
demand for botanical extracts by various end users such as food & beverage
and beauty industry. Moreover, the growing preference of consumers for products
containing natural formulations is also acting as a major growth driver for
global botanical extracts market. The hazardous health effects of artificial
flavors, scents and colors in food products is another factor which is pushing
consumers to switch to botanical extract containing food & beverages. Also,
entry of new market players and growing penetration of innovative and different
variety of products is anticipated to foster the growth of global botanical
extracts market through 2025.
Additionally, rising health conscious population and
increasing emphasis on fitness is creating increasing demand for botanical
extracts. The strict regulations regarding inclusion of synthetic flavors are
also fueling the growth of global botanical extract market. Apart from that,
botanical extracts are finding wide application in herbal medicines and convenience
food. This is likely to further propel the market growth in coming years.
However, availability of substitute of botanical extracts are posing as major
challenge before manufacturers. Moreover, stringent regulations in various
economies are likely to hamper the growth of global botanical extract market.
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Global
botanical extracts market is segmented based on application, by form, by source
and region. Based on application, the market can be categorized into bakery
& confectionery, sauces and dressings, alcoholic beverages, carbonated soft
drinks, iced teas, flavored dairy products and others. Among them, the iced
teas segment is likely to undergo high growth during the forecast period owing
to growing intake of tea among global consumers. The increasing preference for
herb based tea is also making the segment a leading one among the other
applications.
Based
on source, global botanical extracts market can be segmented into spices,
herbs, tea leaves and flowers. Among them, the herb segment is anticipated to
witness significant CAGR during the forecast period on account of increasing
application in food & beverage industry. Furthermore, herbal botanical
extracts are also gaining high traction from beauty and healthcare industry.
Major players operating in the global botanical
extracts market are Frutarom Industries Ltd., Kalsec
Inc., BASF SE, Döhler GmbH, Synergy Flavors, Blue Sky Botanics Ltd., MB-Holding
GmbH & Co. KG, Nexira SAS, Haldin Pacific Semesta and Synthite Industries
Private Ltd. Leading companies are involved in increasing their product
portfolio in order to increase their market reach. Some of them are also undergoing
mergers & acquisitions and partnerships to strengthen their position in
global botanical extracts market.
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“The growing popularity of organic food products is providing
lucrative growth opportunities for botanical extract manufactures. Among the
five regions, North America is likely to appear as the biggest market for
botanical extracts as the region is witnessing rising population of fitness
enthusiast consumers. The high per capita disposable income and high standard
of living enables consumers to opt for high end botanical extract containing
food & beverages. Also, the increasing consumption of dietary supplements
in countries like United States and Cananda is another factor augmenting the
growth of global botanical extracts market,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Botanical Extracts Market By Application (Bakery & Confectionery, Sauces
and Dressings, Alcoholic Beverages, Carbonated Soft Drinks, Iced Teas, Flavored
Dairy Products and Others), By Form (Powder and Liquid), By Source (Spices,
Herbs, Tea leaves and Flowers), By Region, Forecast & Opportunities, 2025” has
evaluated the future growth potential of botanical extracts market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global botanical extracts market.
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