The global botanical ingredients market size is expected to be worth around US$ 280.9 billion by 2030, according to a new report by Vision Research Reports.
The global botanical ingredients market size was valued at US$ 146.38 billion in 2020 and is anticipated to grow at a CAGR of 7.9% during forecast period 2021 to 2030.
|Market Size||US$ 280.9 Bn by 2030|
|Growth Rate||CAGR of 7.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Source, form, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||International Flavors & Fragrance,7 Inc.; Indesso Aroma; Bell Flavors & Fragrances; Prakruti Products Pvt. Ltd.; Berje Inc.; Umalaxmi Organics Pvt. Ltd.; AmbePhytoextracts Pvt. Ltd.; Ribus Inc.; The Green Labs LLC; Rutland Biodynamics Ltd.; Lipoid Kosmetic AG; and The Herbarie at Stoney Hill Farm, Inc|
The market is witnessing growth primarily due to the rising health-conscious consumer base coupled with clean label trends in the pharmaceutical, food, and beverage industries. Consumers are increasingly shifting to healthier alternatives while adopting preventive care as a necessary tool to help them lead a better lifestyle. Thus, botanical ingredients are being increasingly utilized in the manufacturing of food & beverages as they are a rich source of bioactive compounds and render a diverse range of biological effects.
By Source Analysis
The spices segment led the market in 2020 accounting for a 28.3% share of the global revenue. The segment is expected to witness substantial gain over the forecast period due to changing lifestyles demanding healthy food that is convenient along with a popular trend of experiencing novel foods.
This can be attributed to changing lifestyles and inclination towards leading a luxurious and healthy lifestyle, which has contributed to the growth of horticulture along with the botanical flower industry.
The herbs segment is expected to witness a CAGR of 8.3% during the forecast period on account of their extensive utilization of traditional medicines. Herb-based medicinal products are gaining importance globally on account of their health benefits, such as improved metabolism &immune system, and stabilization of hormones.
By Form Analysis
The powder segment accounted for the largest market share of 61.0%, in terms of revenue, in 2020. Botanical ingredients, extracted in the form of powder, are widely utilized to enhance the palatability of food and beverages as well as preservatives.
The liquid form is more suitable for making Ready-to-Drink (RTD) beverages, cold beverages, and beverage mixes. The growing popularity of RTD beverages, owing to their ease of consumption, strong nutritional profile, and easy availability, is expected to drive the demand for liquid form in the market.
By Application Analysis
The food and beverage application segment dominated the market in 2020 with over 34% share of global revenue. Botanical ingredients are increasingly being incorporated into various food & beverage applications owing to their unique flavor and health benefits.
Beverages accounted for a significant share in the application segment in 2020 owing change in lifestyle of consumers, which have propelled the demand for RTD beverages. In addition, increasing efforts by the manufacturer to develop RTD beverages with different flavors and fortified botanical ingredients are benefitting the segment growth.
The use of botanical ingredients in pharmaceuticals is one of the upcoming trends in the current market scenario. Growing demand for plant-based medicines and rising awareness about the benefits of botanical ingredients are likely to be the major factors driving the market over the forecast period.
By Regional Analysis
North America dominated the market and accounted for more than 35% share of global revenue in 2020. The high prevalence of various lifestyle diseases in the U.S. and Mexico, due to the rising cases of obesity, is expected to support the growth of the regional market.
Asia Pacific is expected to witness the fastest CAGR during the forecast years. Factors, such as the penetration of organized and e-commerce retail, are driving the consumption of convenience food products incorporated with botanical ingredients.
Lipoid Kosmetic AG
The Herbarie at Stoney Hill Farm, Inc.
International Flavors& Fragrances, Inc.
Bell Flavors& Fragrances
Rutland Biodynamics Ltd.
Prakruti Products Pvt. Ltd.
The Green Labs LLC
Umalaxmi Organics Pvt. Ltd.
Food & Beverages
Bakery & Confectionery
Sauces & Dressings
Personal Care & Cosmetics
Central & South America
Middle East & Africa
The Botanical Ingredients market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Botanical Ingredients market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Botanical Ingredients market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Botanical Ingredients market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Botanical Ingredients market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Botanical Ingredients capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Botanical Ingredients by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Botanical Ingredients market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Botanical Ingredients market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Botanical Ingredients market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Botanical Ingredients industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Botanical Ingredients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Botanical Ingredients market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Botanical Ingredients market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Botanical Ingredients market. These factors have benefited the growth of the global market for Botanical Ingredients. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Botanical Ingredients. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Botanical Ingredients are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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