Botanical Extracts Market Scope
Botanical extracts are concentrated plant materials providing therapeutic properties, which have been extracted through a variety of methods, including steam distillation, solvent extraction, CO2 extraction, cold pressing, oil infusion, alcohol infusion, and glycerol extracts. Botanical extracts are widely used in food, beverage, pharmaceutical, and cosmetic products. An increase in the demand for convenience food and a rise in awareness regarding the side-effects of synthetic flavors are some of the key drivers fuelling the growth of the market.
According to AMA, the Global Botanical Extracts market is expected to see growth rate of 9.51%
Research Analyst at AMA estimates that United States, Indonesia, and United Kingdom Players will contribute to the maximum growth of Global Botanical Extracts market throughout the predicted period.
Frutarom Industries Ltd. (Israel), Blue Sky Botanics Ltd (United Kingdom), Ransom Naturals Ltd (United Kingdom), Prinova Group LLC. (United States), Pt. Indesso Aroma (Indonesia), Synergy Flavors (United States), Haldin Natural (Indonesia), Kalsec Inc. (United States), Synthite Industries Ltd. (India) and Döhler GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are BI Nutraceuticals (United States), Nutra Green Biotechnology Co., Ltd (United States), Kuber Impex Ltd. (India), Mb-Holding GmbH & Co. Kg (Germany), Bell Flavors & Fragrances (United States) and Finlays (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Botanical Extracts market by Type (Hydrosols, Alcohol Tinctures, CO2 extracts, Glycerites, Powdered Extracts and Others), by Application (Food {Bakery & Confectionery, Sauces & Dressings}, Beverages {Alcoholic Beverages, Carbonated Soft Drinks, Ice Tea, Flavored Dairy Products}, Cosmetics & Personal Care {Skin Care, Hair Care, and Others}, Pharmaceuticals and Others) and Region with country level break-up.
On the basis of geography, the market of Botanical Extracts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 25 March 2019, BI Nutraceuticals, a global full service manufacturer and supplier of plant based ingredients in the United States, announced its acquisition by the Martin Bauer Group, a global botanical expert. Effective March 25, 2019, the partnership allows both organizations to broaden their portfolio of ingredients, while being supported by an expansive manufacturing platform.
On 15 June 2018, Synergy flavours, a leading botanical extract player as introduced a new range of natural, water-soluble botanical extracts for the European beverage, dairy and savoury markets. Catering for growing consumer demand for less sweet flavoured, natural, plant-based products, each extract in the new botanical range has been tailor-made to maximise the characteristic profiles. The new range consists of popular botanical flavours that pair well with sweeter fruit profiles and add a premium positioning to alcoholic and soft beverages. and On 26 July 2016, Dohler, the global producer, marketer and provider of technology-driven natural ingredients, ingredient systems and integrated solutions for the food and beverage industry has acquired Teawolf, a leading manufacturer of botanical extracts and natural ingredients in the USA. This acquisition strengthened the company’s botanical products offering as well as expanded business in the United States.
Market Trend
- Rising Demand for Botanical Extracts for the Skin Care
- Growing Popularity of Botanical Extracts Among the Bakery, Desserts and Yoghurts Products
Market Drivers
- Increase in the Demand for Convenience Food
- Rise in Awareness Regarding the Side-Effects of Synthetic Flavors
- Growth of the Clean Label Trend across Food & Beverage Markets
- Increase in Application of Botanical Extracts among the Cosmetics and Pharmaceutical Industries
Opportunities
- Identifying and Marketing New Spices and Herbs in Accordance With the Changing Consumption Trends
Restraints
- Availability of Substitutes Products May Hinder the Growth of the Market
Challenges
- Limited or Inadequate Supply and Varying Prices of Herbs & Spices
Key Target Audience
Botanical extract manufacturers, Botanical extract Traders/Distributors, Regulatory & Government bodies, Intermediary suppliers, Downstream Vendors, End-users and Others