Global Botanical Extracts Market is segmented into, By Source (Spices, Herbs, Tea leaves, Flowers), By Application (Functional Food & Supplements, Food Supplements, Pharmaceutical, Cosmetic & Personal Care, Others), By Technology (Water Extraction, Drying, Cold Pressing, Steam Distillation, Enfleurage, Supercritical CO2 Extraction, Low-boiling solvent extraction), By Form (Liquid, Powder)
Market Analysis: Global Botanical Extracts Market
The Global Botanical Extracts Market accounted for USD 3.92 Billion in 2017 and is projected to grow at a CAGR of 9.1% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015, 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Market Definition: Global Botanical Extracts Market
Any drug or pesticide that is made or extracted from parts of plants is referred to as botanical extracts there is a growing demand for global botanical in pharmaceutical and cosmetic sectors, which is expected to be one of the major drivers of the market over the next coming years. According to a journal published by European Society of Biochemical Engineering Services, the global market for botanicals market registered a value of USD 108.0 billion in 2015. The functional food & supplements segment is expected to register a market share of 35.0% and cosmetics segment is registering market share of 17.0%. The use of botanical extracts is increasing in cosmetic application and is mainly referred as “active” extracts. Germany, France and Italy are the major countries in European botanical extract market. According to COMTRADE database, France imported approximately 8,000 tons of extracts in 2014. The regulations in the supplement market such as Health Claim Regulation by EFSA has resulted in reduced innovations in the botanical extract products in European region.
Major Market Drivers:
- Increasing awareness regarding the side effects of allopathic medicines has caused awareness about therapeutic effects and medicinal benefits of herbal products.
- They have a long shell life.
- Rising awareness and health concerns among consumers.
- Availability of various substitutes in the market
- Stringent regulations
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Market Segmentation: Global Botanical Extracts Market
- On the basis of source, the market is segmented into spices, herbs, tea leaves, flowers.
- On the basis of application, the market is segmented into functional food & supplements, food supplements, pharmaceutical, cosmetic & personal care, beverages and others.
- On the basis of form, the market is segmented into liquid and powder.
- On the basis of technology, the global botanical extracts market is segmented into water extraction, drying, cold pressing, steam distillation, enfleurage, supercritical co2 extraction, low-boiling solvent extraction.
- On the basis of geography, the Global Botanical Extracts Market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Botanical Extracts Market
The Global Botanical Extracts Market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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