Global Botanical Ingredients Market Overview
Botanical Ingredients Market Size was estimated at 20.74 (USD Billion) in 2022. The Botanical Ingredients Industry is expected to grow from 22.56(USD Billion) in 2023 to 47.923 (USD Billion) by 2032. The Botanical Ingredients Market CAGR (growth rate) is expected to be around 8.74% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Botanical Ingredients Market Trends Highlighted
There is a demand for natural and sustainable skincare as well as cosmetics products, which has been a significant driver of the botanical ingredients market. This is because customers are becoming increasingly conscious about harsh chemicals and synthetic substances hence resulting in an increase in the use of therapeutic botanicals that enhance skin health. On top of that, the recognition that food and beverage sectors particular functional ingredients need to adopt botanical ingredients due to their health benefits.
The botanic elements industry can exploit the growth of the customized personal skincare sector. In this regard, consumers would love to use items customized for their unique skin specifications and preferences, thereby enhancing room for innovation as well as the development of special botanical-dependent formulations. Further still, the spread out of e-commerce platforms has, over time, given new sales outlets for producers in which they can target a bigger pool of clients and, therefore, meet up with increasing demands from online buyers.
Some of the recent trends are the marriage of traditional herbalism and modern scientific research, which can be seen in the botanical ingredient market. Ancient wisdom is combined with evidence-based formulations to make consumers welcome products that exhibit this union. This necessitated the development of inventive plant-derived ingredients for both traditional and current health care as well as skin treatment.
Botanical Ingredients Market Drivers
Rising Demand for Natural and Organic Products
Consumers are increasingly seeking natural and organic products due to growing health consciousness and concerns about synthetic ingredients. Botanical ingredients are perceived as safe, gentle, and effective alternatives to synthetic ingredients, driving the growth of the Botanical Ingredients Market Industry. The demand for botanical ingredients is particularly high in the personal care and cosmetics industry, where consumers are seeking natural and organic products for skincare, haircare, and cosmetics.Additionally, the growing popularity of herbal supplements and traditional medicine is further boosting the demand for botanical ingredients.
Advancements in Extraction and Processing Technologies
Please wait while your document is being translated. Advancements in extraction and processing technologies that made it possible to extract and process botanical ingredients with higher efficiency and less cost triggered the emergence of new and innovative botanical ingredients of higher purity, potency, and bioavailability. The availability of high-quality botanical ingredients is an even more important driver of the growth observed in the given industry.
Growing Applications in the Food and Beverage Industry
Botanical ingredients are increasingly being used in the food and beverage industry as natural flavors, colors, and preservatives. The demand for botanical ingredients in the food and beverage industry is driven by the growing consumer preference for natural and healthy food and beverage products. Botanical ingredients are also being used to develop new and innovative food and beverage products, such as functional foods and beverages.
Botanical Ingredients Market Segment Insights
Botanical Ingredients Market Type Insights
Type. The following market is divided by the type of botanical ingredients Natural extracts (solvent extraction, supercritical fluid extraction, maceration), Essential oils, Plant-based oils, Herbal powders, and Plant resins. Natural Extracts The natural extracts are concentrated forms of different plant materials. Nowadays, they are widely used in the food and beverage industry. The demand is connected to such factors as the consumers’ intent to eat products without additives. The market is expected to reach USD 40,5 billion by 2024, with a CAGR of 7,2%.
Essential Oils Essential oils are "volatile, concentrated, liquids which are used for flavoring or for their fragrance”. The common extraction methods are distillation, cold pressing and others. The essential oils are highly concentrated and have strong aromatic properties. They are used in the cosmetic and personal care industry, aromatherapy and pharmaceutics. The market is expected to reach USD 11,6 billion by 2024, with a CAGR of 9,5%. Plant-Based Oils The plant-based oils may be obtained from seeds, nuts, kernels and other parts of the plant.
The nutrients are rich in fatty acids, vitamins, and antioxidants. They are mainly used in food and drinks and in the production of soaps, hair and skin care, and others. The market is expected to reach USD 22,3 billion by 2024, with a CAGR of 5,8%. Herbal Powders Herbal powders are fine powders made from dried herbs and plants. They are used in herbal medicine, dietary supplements, spices and others. The market is expected to reach USD 15,2 billion by 2024, with a CAGR of 7,9%. Plant Resins The plant resins are sticky semi-solid liquids that plants use as a part of their defense system.There are also industrial applications. The market is expected to reach USD 7.9 billion by 2024, with a CAGR of 6,3%. The drivers are the increasing demand for plant-based personal care products, foods, and drinks, the information about the health benefits of botanical ingredients, and the increased number of their applications.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Botanical Ingredients Market Application Insights
The application segment plays a crucial role in shaping the Botanical Ingredients Market's landscape. The market segmentation offers insights into various industries that utilize botanical ingredients. Food and Beverages This segment holds a significant share of the market, driven by the rising demand for natural and organic food products. Botanical ingredients enhance flavor, provide nutritional value, and extend shelf life, making them essential in food and beverage applications. Cosmetics and Personal Care Growing consumer awareness of the benefits of botanical ingredients has led to their widespread adoption in cosmetics and personal care products.These ingredients offer skin-soothing, anti-aging, and antimicrobial properties, making them valuable additions to skincare, haircare, and cosmetic formulations. Pharmaceuticals Botanical ingredients have a long history of use in traditional medicine and continue to play a role in modern pharmaceuticals. They are used as active ingredients in herbal remedies, dietary supplements, and even conventional drugs, providing therapeutic benefits for various health conditions.
Nutraceuticals The nutraceuticals segment has witnessed substantial growth due to the increasing demand for natural health supplements.Botanical ingredients offer a wide range of health benefits, including antioxidant, anti-inflammatory, and immune-boosting properties, making them popular ingredients in nutraceutical products. Cleaning and Disinfecting Agents Botanical ingredients are gaining traction in the cleaning and disinfecting industry due to their eco-friendly and antimicrobial properties. They provide effective cleaning and disinfecting solutions while minimizing the use of harsh chemicals, making them attractive to consumers and businesses alike. The Botanical Ingredients Market's application segment is expected to continue its growth trajectory, driven by increasing consumer demand for natural, sustainable, and health-promoting products across various industries.
Botanical Ingredients Market Form Insights
The Botanical Ingredients Market is segmented into Liquid, Powder, Crystalline, Granular, and Paste forms. Among these, the Powder form segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the ease of handling, storage, and transportation of powdered botanical ingredients. Additionally, the high surface area of powdered ingredients enhances their bioavailability and efficacy. The Liquid form segment is expected to witness significant growth over the forecast period due to its ease of incorporation into various formulations and its ability to provide rapid absorption.
Botanical Ingredients Market Source Insights
The Botanical Ingredients Market is segmented by source into Fruits and Vegetables, Herbs and Spices, Roots and Tubers, Leaves and Flowers, and Bark and Seeds. Among these segments, Fruits and Vegetables are expected to account for the largest share of the market in 2023, at around 35%. This is due to the increasing demand for natural and organic ingredients in food and beverage products. Herbs and Spices is expected to be the second-largest segment, with a share of around 25%. Roots and Tubers, Leaves and Flowers, and Bark and Seeds are expected to account for the remaining share of the market.
Botanical Ingredients Market Extraction Method Insights
The extraction method segment plays a crucial role in determining the quality and efficiency of botanical ingredient production. Among the various extraction methods, hydrodistillation holds a significant market share due to its effectiveness in extracting volatile compounds from botanical materials. Cold pressing, on the other hand, is gaining popularity for its ability to preserve the delicate flavors and nutrients of botanicals. Maceration and percolation are traditional methods that involve soaking the botanical material in a solvent, while supercritical fluid extraction utilizes high pressure and temperature to extract specific compounds.The Botanical Ingredients Market revenue is expected to witness substantial growth in the coming years, driven by increasing demand for natural and sustainable ingredients in various industries. Understanding the market segmentation and insights into the extraction method segment will enable stakeholders to make informed decisions and capitalize on growth opportunities.
Botanical Ingredients Market Regional Insights
The Botanical Ingredients Market segmentation by region reveals a dynamic landscape with varying market dynamics and growth opportunities. North America holds a significant market share, driven by rising consumer awareness about health and wellness, increasing demand for natural and organic products, and the presence of well-established personal care and pharmaceutical industries. Europe follows closely, with a mature market characterized by stringent regulations and a high adoption rate of botanical ingredients in cosmetics, pharmaceuticals, and food and beverage products.APAC is emerging as a key growth region, fueled by rising disposable income, growing urbanization, and a burgeoning middle class seeking natural and healthy alternatives. South America and MEA also present promising growth prospects due to increasing healthcare expenditure, government initiatives promoting natural ingredients, and a growing demand for botanical extracts in traditional medicine and cosmetics.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Botanical Ingredients Market Key Players And Competitive Insights
Major players in the Botanical Ingredients Market industry are focusing on expanding their product offerings and entering into strategic collaborations to gain a competitive edge. Leading Botanical Ingredients Market players are investing in research and development to develop new and innovative products that cater to the evolving needs of consumers. The Botanical Ingredients Market development is being driven by the increasing demand for natural and organic products, as well as the growing awareness of the health benefits associated with botanical ingredients. The Botanical Ingredients Market Competitive Landscape is expected to remain highly competitive in the coming years, with key players vying for market share through product innovation, strategic partnerships, and aggressive marketing campaigns.A leading company in the Botanical Ingredients Market is Robertet Group.
The company is a leader in the production of natural ingredients for the fragrance and flavor industries. Robertet Group has a wide range of botanical ingredients, including essential oils, extracts, and oleoresins. The company's products are used in a variety of applications, including cosmetics, personal care products, food and beverages, and pharmaceuticals. Robertet Group has a strong presence, with operations in over 50 countries. The company is committed to sustainability and ethical sourcing, and it has a number of initiatives in place to reduce its environmental impact.A competitor company in the Botanical Ingredients Market is Active Botanicals.
The company is a leading supplier of botanical extracts and ingredients for the nutraceutical, cosmetic, and food and beverage industries. Active Botanicals has a wide range of botanical ingredients, including herbs, spices, and fruits. The company's products are standardized to ensure consistent quality and potency. Active Botanicals has a strong focus on research and development, and it has a number of patents for its proprietary extraction and processing technologies. The company has a presence, with operations in North America, Europe, and Asia. Active Botanicals is committed to sustainability and ethical sourcing, and it has a number of initiatives in place to reduce its environmental impact.
Key Companies in the Botanical Ingredients Market Include
- PLT Health Solutions
- Biolandes
- Naturex SA
- Sabinsa
- Vivify Specialty Ingredients
- Indena
- Koninklijke DSM N.V.
- Dohler
- Nexira
- Frutarom Industries Ltd.
- Prinova
- Givaudan
- ADM
- Martin Bauer Group
Botanical Ingredients Market Industry Developments
The botanical ingredients market is projected to grow from USD 22.56 billion in 2023 to USD 47.923 billion by 2032, at a CAGR of 8.74%. Rising demand for natural and organic personal care and cosmetic products, increasing use of botanical ingredients in the food and beverage industry, and growing awareness of the health benefits of botanicals are key factors driving the market growth.Recent news developments include the launch of new botanical ingredient-based products by major players such as L'Oréal and Unilever, and the acquisition of botanical ingredient suppliers by companies such as IFF and Symrise. These developments indicate the growing importance of botanical ingredients in the market.
Botanical Ingredients Market Segmentation Insights
-
Botanical Ingredients Market Type Outlook
- Natural Extracts
- Essential Oils
- Plant-Based Oils
- Herbal Powders
- Plant Resins
-
Botanical Ingredients Market Application Outlook
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceuticals
- Nutraceuticals
- Cleaning and Disinfecting Agents
-
Botanical Ingredients Market Form Outlook
- Liquid
- Powder
- Crystalline
- Granular
- Paste
-
Botanical Ingredients Market Source Outlook
- Fruits and Vegetables
- Herbs and Spices
- Roots and Tubers
- Leaves and Flowers
- Bark and Seeds
-
Botanical Ingredients Market Extraction Method Outlook
- Hydrodistillation
- Cold Pressing
- Maceration
- Percolation
- Supercritical Fluid Extraction
-
Botanical Ingredients Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia-Pacific
-
Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
20.74(USD Billion) |
| Market Size 2023 |
22.56(USD Billion) |
| Market Size 2032 |
47.923(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.74% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
PLT Health Solutions, Biolandes, Naturex SA, Sabinsa, Vivify Specialty Ingredients, Indena, Koninklijke DSM N.V., Dohler, Nexira, Frutarom Industries Ltd., Prinova, Givaudan, ADM, Martin Bauer Group |
| Segments Covered |
Type, Application, Form, Source, Extraction Method, Regional |
| Key Market Opportunities |
Rising demand for natural and organic products Growing consumer awareness of health and wellness Increasing disposable income in developing countries Development of new botanical ingredients and formulations Technological advancements in extraction and processing |
| Key Market Dynamics |
Consumer Preference for Natural Ingredients Growing Demand for Botanicals in Personal Care Surge in Herbal Supplementation Increasing Awareness of Botanical Health Benefits Government Support for PlantBased Research |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Botanical Ingredients Market is expected to reach a valuation of 22.56 billion USD in 2023.
The Botanical Ingredients Market is projected to register a CAGR of 8.74% from 2024 to 2032.
The Asia-Pacific region is expected to dominate the Botanical Ingredients Market in terms of revenue, owing to the increasing demand for natural and organic products in the region.
Botanical ingredients are widely used in various applications, including dietary supplements, food and beverages, personal care products, and pharmaceuticals.
Key competitors in the Botanical Ingredients Market include Givaudan, Robertet, Symrise, IFF, and Firmenich.
The growth of the Botanical Ingredients Market is driven by factors such as the increasing demand for natural and organic products, the rising awareness of the health benefits of botanical ingredients, and the growing popularity of herbal medicines.
The Botanical Ingredients Market faces challenges such as the lack of standardization, the high cost of production, and the stringent regulatory requirements.
Opportunities for growth in the Botanical Ingredients Market include the development of new products, the expansion into new markets, and the adoption of sustainable practices.
Key trends shaping the Botanical Ingredients Market include the increasing demand for plant-based ingredients, the growing popularity of personalized nutrition, and the adoption of advanced technologies in the extraction and processing of botanical ingredients.
The Botanical Ingredients Market is expected to reach a valuation of 47.923 billion USD in 2032.
