US Botanical Extracts Market Research: Consumption Ratio and Growth Prospects to 2030

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Botanical Extracts Market Size Anticipated USD 10.38 billion by 2030 with CAGR of 9.50% by 2023 - 2030

Botanical Extracts Market Highlights

The Botanical Extracts Market 2023 across the review period till 2030. By 2030, the botanical extracts market can surge at 9.50% CAGR. On the conclusion of review period, the global botanical extracts market can value at USD 10.38 Bn. The increase in demand for dietary supplements and surge in rising popularity of botanical extracts as natural personal care products can promote expansion of the worldwide market.

The United States dominates the North America botanical extracts market, supported by the presence of key players and the growing trend of using natural and plant-based ingredients in products. Canada is also witnessing substantial growth, driven by the increasing adoption of botanical extracts in food supplements and herbal medicines.

COVID 19 analysis of the botanical extracts market

The botanical extracts market is studied for public health emergency and long-term effects of the pandemic on the industry growth in the review period. The easy availability of botanical extracts in powder and liquid form, and their increasing application in food and beverage processing can benefit the market. The rise of the botanical extracts market can be driven by rise in personal care applications and increase in awareness about other health benefits. On the other hand, the limited availability of different botanical extracts can hamper the market rise. However, the growing demand for organic ingredients can hold lucrative opportunities in the years to come.  

Key Players

Ransom Naturals Ltd (UK), Synthite Industries Limited (India), Prinova Group LLC (US), Martin Bauer Group (Germany), Synergy Flavors Inc. (US), Kalsec Inc. (US), and International Flavors & Fragrances Inc. (US) are some prominent names in the worldwide Global Botanical Extracts Market that are profiled by MRFR.  

Segmental Analysis

The segment study of the Global Botanical Extracts Market is based on Application, Form, and Source.

The form-based segments of the global botanical extracts market are liquid and powder. The powder segment can surge at 5.57% CAGR in the review period. The powder segment can retain its prominence by 2030. The liquid segment can rise at 5.12% CAGR through the analysis period. The increase in demand for herbs that are used for botanical extraction, such as; mint, turmeric, rosemary, basil, bay leaf, chives, sage, and thyme can support expansion of the market in the near future. The growing demand for these herbs across pharmaceutical and food and beverages sectors can support market rise in the review period.

The source-based segments of the market are fruits, and herbs & spices among others. The herbs and spices segment can secure the maximum market share by 2030. The fruits segment can surge at 6.44% CAGR across the review period. The herbs segment comprises mint, turmeric, rosemary, basil, bay leaf, chives, sage, and thyme. The spices segment comprises cumin, ginger, garlic, coriander, and cloves. The rise in demand for spices can cause the market to surge in the near future.

The application-based segments of the global botanical extracts market are pharmaceuticals & nutraceuticals, food, beverages, and personal care among others. The pharmaceuticals and nutraceuticals segment can rise at about 5.00% CAGR in the analysis period. The Pharmaceuticals & nutraceuticals segment can hold the largest market share in the years to come.

Related Reports

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Organic Spices and Herbs Market Research Report- Forecast to 2030

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