Botanical Extract Market Drivers and Trends
Growing demand for convenience food products, shift towards organic and clean label products and increasing awareness with respect to side effects of synthetic products is expected to fuel the growth of botanical extract market over the forecast period. Increasing number of manufacturers across the food and cosmetic industry are replacing the ingredients that consumers perceive to be synthetic. In addition consumers are also shifting their preferences for healthy and natural ingredients which is further expected to support the botanical extract market during the forecast period. This is an important step towards focusing on right balance between health and taste. Increasing acceptance of international cuisines is also one of the factors leading to growing market of botanical extracts in terms of value.
In the recent past years there has been a rapid shift from synthetic products towards more natural and organic products as growing number of consumers seek products that are safe and effective. Botanical extract can be derived from a number of plants or botanical source and is defined as a complex, multi component mixture consisting of a bioactive compound obtained by solvent extraction technique. In other words, botanical extracts are herbal products ingredient and are present in dry, liquid or semi-solid form. Botanical extracts are used in widespread applications across food and beverages industry and cosmetic industry.
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Botanical Extract Market Segmentation:
The botanical extract market is segmented into, source, area of application and form. By source, the global botanical extract market is segmented into, herbs, roots, flowers, fruits, leaves and seeds. By area of application the global botanical extract market is segmented into, food and beverages industry, and cosmetic industry. The food and beverages application segment is further sub segmented in to, bakery and confectionary, sauces and condiments, dairy products, snacks, alcoholic beverages, nonalcoholic beverages and others. The beverages segment is expected to depict maximum growth rate among other segment over the forecast periods. In cosmetic industry the botanical extracts are used in skin rejuvenation and regeneration products, age defying products and others. Increasing consumer concern towards the usage of cosmetics products containing natural and botanical ingredient is expected to support cosmetics segment growth in botanical extract market during the forecast period. By form the botanical extract market is segmented into, liquid, powder, semi-solid. Liquid botanical extracts are expected to account for significant revenues in the global botanical extract market.
Botanical Extract Market Regional Outlook:
On the basis of region the global botanical extract market is segmented into, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. North America and Western Europe are expected to account for significant revenue shares in the global botanical extract market over the forecast period. While Asia Pacific is expected to represent substantial growth for botanical extract market during the forecast period. Increasing consumer awareness regarding the benefits of consumption of products that includes naturel plant derived extracts, without compromising on the flavor and taste is expected to help expand the market size of botanical extracts market over the forecast period.
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Some of the key players offering botanical extract include; Frutarom Ltd, Döhler GmbH, Bell Flavors & Fragrances, New Directions Aromatics Inc., PT. INDESSO AROMA, The Herbarie at Stoney Hill Farm, Inc., Lipoid Kosmetik AG, Kalsec Inc. and others.