(MENAFN- Research Cosmos) Botanical Extracts Market Size and Growth Rate:
Botanical Extracts Market was valued at USD xx million in 2017 and projected to reach USD 6.03 Billion by 2022 growing at a CAGR of 9.0% during the forecast period 2017 to 2022.
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Botanical Extracts Market Overview:
The botanical extracts are ingredients of products based on of plants and are present in dry, liquid or semi-solid form. Botanical extracts are used in widespread applications in the food and beverage industry and in the cosmetics industry.
Botanical Extracts Market Growth Drivers and Opportunities:
The growing demand for ready-to-serve food products, the shift to clean and environmentally friendly brands, and increased awareness of the side effects of synthetic products are expected to spur market growth for plant extracts during the period. More and more manufacturers in the food and cosmetics industry are replacing ingredients that consumers perceive as synthetic products. In addition, consumers are also changing their preferences for healthy natural ingredients that should support the botanical extract market during the forecast period. This is an important step towards finding the right balance of health and flavor. The growing acceptance of international cuisines is also one of the factors that led to the growing market of botanical extracts in terms of value.
Among the different types of products, natural vegetable oils have attracted the attention of cosmetic brands backed by a growing interest in aromatherapy, natural remedies and other properties such as relaxation or refreshment.
It is expected that increasing consumer awareness of the benefits of consuming products that include natural botanical extract without compromising taste will help increase the size of the botanical extracts market over the forecast period.
These plant extracts are available in the form of herbs, roots, flowers, fruits, leaves and seeds. Food and beverage and cosmetics sectors are two most prominent application areas of these extract compared to its others benefits.
Geographic Segmentation of Botanical Extracts Market:
Based on the region, the global market for botanical extract is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and the Middle East and Africa. North America and Western Europe are expected to account for a significant portion of world revenues over the forecast period, while Asia Pacific is expected to represent substantial growth.
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Key Market Players of Botanical Extracts Market:
Some of the main players that offer botanical extract include: Frutarom Ltd, Döhler GmbH, Bell Flavors and Fragrances, New Directions Aromatics Inc., PT. INDESSO AROMA, The Herbarie of Stoney Hill Farm, Inc., Lipoid Kosmetik AG, Kalsec Inc. and others.
Botanical Extracts Market Segmentation:
By Source:
• Spices
• Herbs
• Flowers
• Tea Leaves
By Form:
• Powder
• Liquid
By Application:
• Food
• Beverages
By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa
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