According to a new report published by UnivDatos Markets Insights, the botanical ingredients market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Source (herbs, leaves, spices, flowers and others); Form (powder and liquid); Application (food and beverages, dietary supplements, cosmetics and personal care, pharmaceuticals and others); Region/Country.
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The botanical ingredients market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the botanical ingredients market. The botanical ingredients market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the botanical ingredients market at the global and regional levels.
Market Overview
Botanical ingredients are also known as herbal dietary herbals or supplements. They are obtained from plants, plant parts, and plant extracts. Botanical ingredients act as a natural substitute for the treatment of hormone replacement therapy. They are mined from various approaches such as solvent extraction, cold pressing, steam distillation, and oil infusion. These ingredients provide natural ways for the appropriate functioning of brain, heart, and helps in sustaining joint tissue health and connective tissue health.
The botanical ingredients market is expected to grow at a steady rate of around 7%. Shifting consumer preferences towards safe, advanced, and potent cosmetic solutions to produce new cosmetic formulas ranging from collagen to hyaluronic acid are primarily driving the demand for botanical ingredients. The respective market is gaining popularity due to the natural flavors, sustainable credentials, and health benefits. Moreover, as demand for various dietary supplements including vitamins, minerals, multi-vitamins, proteins & amino acid, fibers & specialty carbohydrates is increasing by leaps and bounds, the market is expected to grow exponentially. Some of the major players operating in the market include GrainCorp, Malteurop, Rahr Corporation, Boortmalt, Lipoid-Kosmetik, The Herbarie at Stoney Hill Farm, Inc., International Flavors& Fragrances, Inc., Bell Flavors& Fragrances, Rutland Biodynamics Ltd., Prakruti Products Pvt. Ltd.
COVID-19 Impact
Covid-19 outbreak saw a surge in demand for the botanical ingredients during the pandemic due to increased consumer preference for health and wellness products, which promotes overall well-being. Now consumers have become aware of the utilization of synthetic chemical-based food and skincare products and are moving toward natural colorant-based plant juice products. Conversely, it has relentlessly hit the production business and global trade. This heavy fall in trade has created a difficulty for producers to sell their products in distinguished countries such as U.S., Canada, Germany, and India.
· Based on application, the botanical ingredients is categorized into food and beverages, dietary supplements, cosmetics and personal care, pharmaceuticals and others. The food and beverage application segment dominates the market share as botanical ingredients are increasingly being incorporated into various food & beverage applications owing to their unique flavor and health benefits. The food & beverage manufacturers are focusing on fortifying food products with flavorful and nutritive plant-based ingredients, such as tea extracts which further helps in driving the market.
· On the basis of source, the market is segmented into herbs, leaves, spices, flowers and others. Spices category held the largest market. Rising clean label drifts in the food and beverage coupled with increasing consumer awareness of health and wellness helps in bolstering the demand for the respective category. They are gaining importance globally on account of their health benefits, such as improved metabolism & immune system, and stabilization of hormones.
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Botanical Ingredients Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, France, Italy, Spain and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is expected to hold a significant share for the market. Surge in consumption of convenient food items, such as prepared foods, RTD drinks, packed snacks, and other goods using botanical components are amongst the major factors which is highly influencing the market in the region. As growth for healthy drinks in the region surges, the North America is anticipated to hold the largest share for the forecasted period.
The major players targeting the market include
· GrainCorp
· Malteurop
· Rahr Corporation
· Boortmalt
· Lipoid-Kosmetik
· The Herbarie at Stoney Hill Farm, Inc.
· International Flavors & Fragrances, Inc.
· Bell Flavors& Fragrances
· Rutland Biodynamics Ltd.
· Prakruti Products Pvt. Ltd
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the botanical ingredients market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the botanical ingredients market?
• Which factors are influencing the botanical ingredients market over the forecast period?
• What are the global challenges, threats, and risks in the botanical ingredients market?
• Which factors are propelling and restraining the botanical ingredients market?
• What are the demanding global regions of the botanical ingredients market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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