Botanical Ingredients Market is estimated to be US$ 10.1 billion by 2029 and is anticipated to register a CAGR of 8.9%
Botanical Ingredients Market accounted for US$ 4.3 billion in 2019 and is estimated to be US$
10.1 billion by 2029 and is anticipated to register a CAGR of 8.9%.Botanical
ingredients are also known as herbal dietary herbals or supplements. These are
supplements obtained from plants, plant parts, and plant extracts. Botanical
ingredients are in both complementary and traditional medicine and are obtained
in various forms such as gel caps, capsules, tablets, liquids, powders, and
soft-gels. Botanical ingredients act as a natural substitute for the treatment
of hormone replacement therapy. These ingredients provide natural ways for the
appropriate functioning of brain, heart, and helps in sustaining joint tissue
health and connective tissue health
The report "Global Botanical Ingredients Market, By Source (Herbs, Leaves,
Spices, Flowers, and Others), By Form (Powder and Liquid), By Application (Food
& Beverages, Dietary Supplements, Cosmetic & Personal Care,
Pharmaceuticals, and Others), and By Region (North America, Europe, Asia
Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis
and Forecast till 2029”.
Key Highlights:
·In February
2020, Swiss cosmetics manufacturer Lipoid Kosmetik has expanded its skincare
portfolio with two new plant-based applications for the skincare category. The
new PhytoCodine product is said to mimic the activity of matrikines, dermal
messenger peptides, that naturally occur in the skin and instruct it to
reorganise and build-up the extracellular mix, and support facial density and
elasticity.
Analyst View:
Botanical ingredients are used as flavoring
supplements in oils, fats, and food emulsions. They make a synergizing effect
when added along with other natural food preservatives. The rising trend toward
clean label products, which are gradually becoming compulsory across the world,
is also boosting the market growth for botanical ingredients and in turn
fascinating food manufacturers to develop new formulations and products to meet
the growing consumer demand for healthier food products. Additionally, high
disposable income, urbanization, and growing demand for healthy nutritional
foods are key factors influencing the natural extracts market.
The presence of alternative products in the form
of synthetic flavors is the main limit for the target market growth. This is
mainly attributed due to the large advantages associated with synthetic flavors
such as uniform & consistent quality, lower prices compared to spices &
herbs, and comfort of use in contrast to natural products.
Key Market Insights from the
report:
The global botanical ingredients market
accounted for US$ 4.3 billion in 2019 and is estimated to be US$ 10.1 billion
by 2029 and is anticipated to register a CAGR of 8.9%. The market report has
been segmented on the basis of source, form, application, and region.
· By source, the spice
segment estimated for the highest market share in 2019 and is projected to
register significant gain during the forecast period on account of changing
lifestyles along with an growth in the trend of witnessing novel foods that
have led to the growth in the popularity of spices.
· By form, the powder
form segment estimated for the highest market share in 2019 and is projected to
register significant gain in the coming years. This is attributed to its
extensive utilization in various applications such as sauces and dressing,
bakery and confectionery, soy, meat, dairy, dietary supplements, and
medicines
·By application, the
food and beverage application segment accounted for the maximum market share in
2019, owing to surge in requirement of ready-to-eat food leading to a surge in
the manufacturing sector, particularly in the developing countries such as
India, China, and Brazil.
· By
region, North America estimated for the
highest market share in 2019 in terms of revenue and is projected to register
increased demand during the forecast period due to growing use of products with
lowered calorie level and high nutritional content. Additionally, rising
awareness in the consumption of dietary products in Mexico on account of new
product launches is anticipated to drive the application scope in the coming
years.
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Competitive Landscape:
The prominent player operating in the global
botanical ingredients market includes PT. INDESSO AROMA, New Directions Aromatics Inc., Bell Flavors
& Fragrances, Rutland Biodynamics Ltd., The Herbarie at Stoney Hill Farm,
Inc., Lipoid Kosmetik AG, Frutarom Ltd., Ambe Phytoextracts Pvt Ltd., Prakruti
Products Pvt. Ltd., and Umalaxmi Organics Pvt. Ltd.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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