Botanical Extracts Market Best Productivity Supply Chain Relationship, Development by 2026

Botanical Extracts Market

Any drug or pesticide that is made or extracted from specific parts of plants is referred to as a botanical extract. The demand for botanical extracts has been registering a steady growth rate across various industrial sectors, particularly the pharmaceuticals and cosmetics sectors. Growing awareness of the side effects of allopathic medicines, together with the rising knowledge about therapeutic effects and medicinal benefits of herbal products, is driving the growth of global botanical extracts market. Long shelf life of botanical extracts has led to an increase in their demand in the pharmaceuticals industry. The functional food and self-medication segments are expected to accelerate the global botanical extracts market expansion during the forecast period. Moreover, the use of botanical extracts for weight management, anti-ageing, joint & bone health, and digestion, and others, is identified to be a prominent trend in the global market.

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Global Botanical Extracts Market Taxonomy

On the basis of source:
• Spices
• Herbs
• Flowers
• Tea Leaves

On the basis of form:
• Liquid
• Powder

On the basis of application:
• Food
◦ Sauces
◦ Bakery & Confectionery
• Beverages
◦ Carbonated soft drinks
◦ Iced Teas
◦ Alcoholic beverages
• Flavored Dairy products
• Pharmaceutical
• Cosmetic & personal care
• Others

Spices are the largest source of botanical extracts and the segment accounts for the largest share in the global botanical extracts market. It finds significant application in the food and beverages industry. The powders segment is expected to hold a gigantic market share over the forecast period. The rising trend of exploring new cuisines and growing demand for healthy food are likely to propel the demand for botanical extracts in the food industry.

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Global Botanical Extracts Market – Regional Overview

North America, followed by Europe, is expected to be the most lucrative market for botanical extracts. Several leading companies are inclining towards developing products made from natural herbs and botanical extracts, as they are witnessing massive demand for these in the food and beverages industry. According to the Canadian Foods and Drugs Act, functional food products in North America are categorized under Generally Recognized as Safe (GRAS). Addition of natural, healthy, and aromatic ingredients to tea is a key trend in the market, which, in turn, demands a greater supply of botanical extracts to this sector. Substantial demand for organic and fair trade ingredients are bolstering the growth of global botanical extracts market. Moreover, high investments made in the food and beverages industry to develop new aromas and flavors using spice and plant extracts is expected to fuel market growth in the region. The botanical extracts market in Europe is driven by the shifting consumer preferences for natural products and a healthy lifestyle. Furthermore, Asia Pacific, being one of the major suppliers of botanical extracts, is an emerging market for the same. The raw materials for botanical extracts are obtained from both cultivated and wild harvested plants. This, in turn, has led to an increase in competition among the manufacturers of botanical extracts all over the world.

Global Botanical Extracts Market – Competitive Background

Manufacturers of botanical extracts are introducing novel technologies pertaining to extraction methods in order to expand their product portfolio. Some of the key players participating in the global botanical extracts market are Frutarom, Ransom Natural Ltd, PT. INDESSO AROMA, Blue Sky Botanics Ltd., Haldin, Dohler, Nutra Green Biotechnology Co. Ltd., Jairamdass Khushiram Impex Pvt. Ltd., Organic Herb Inc., Fytosan, FutureCeuticals, Nexira, Green Source Organics, Acumen Lifesciences, Arjuna Natural Extracts Ltd., Prinova Group LLC, Synergy Flavors, Kalsec Inc., and Synthite Industries Ltd.

Key Developments

In April 2017, BOTANIEX, one of the key companies in botanical extracts market introduced a patented cost-effective technology for extracting L-Theanine from green tea, which provides the beverage and supplement industry with an affordable natural ingredient. In Jan 2019, International Flavors & Fragrances Inc. announced that its Frutarom Division has completed the acquisition of 60% of the share capital of The Mighty co. Ltd. This was done in Thailand with the objective of continuing its growth strategy in Southeast Asia.

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In Nov 2018, FutureCeuticals, Inc. introduced S7, which was added to the sports nutrition line of the branded products. This product is a blend of seven plant based ingredients, which have the capability of boosting the nitric oxide levels within the human body by 230% over the baseline. Furthermore, in August 2016, Indesso Group made a strategic decision of expanding its extract production facility along with the initiation of the construction of an R&D center at the Cileungsi plant. At this new facility, the company has also added new machinery such as the Multi-stage spray dryer, which is capable of producing the products in granule form that dissolved easily in water.

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