Reports and Data's analysis reveals that the Botanical extracts Market was valued at USD 26.32 billion in 2020 and is expected to grow to USD 82.25 billion by 2028, registering a CAGR of 17.4% from 2020 to 2028. The market growth is attributed to the rising demand for Botanical extracts in various end-use applications such as food & beverages, cosmetics, and pharmaceuticals. Botanical extracts are used to provide flavor, color, and food in these applications. Additionally, the increasing popularity of herbal medicines among consumers due to the side-effects of synthetically prepared drugs is fueling the market growth.

The rising awareness of the harmful effects of synthetic flavors is driving the Botanical extracts market growth. Moreover, the convenience offered by processed foods is contributing to the expansion of the market. The health benefits associated with phytomedicines and herbal extracts are also driving market growth. The easy applicability of Botanical extracts in cosmetics, research, and other industries due to their water solubility and prolonged shelf life is another factor driving market growth.

The acquisition of BI Nutraceuticals by Martin Bauer Group in 2020 has enabled the former to offer an extensive portfolio of botanical ingredients and a versatile manufacturing hub to the US Tea, Beverage, Food, and Dietary supplement industries. The acquisition has helped Martin Bauer Group to enhance its local capabilities in North America, including R&D, formulations, and production. The Martin Bauer Group is responsible for sourcing raw materials and ensuring quality measures are maintained throughout the acquisition and manufacturing processes.

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Major Companies:

Givaudan (Switzerland), Sensient Technologies (US), Symrise AG (Germany), Kangcare Bioindustry Co., Ltd. (China), PT. Indesso Aroma (Indonesia), PT. Haldin Pacific Semesta (Indonesia), Vidya Herbs Private Limited (India), Tokiwa Phytochemical Co., Ltd., Native Extracts Pty. Ltd. (Australia), Shaanxi Jiahe Phytochem Co., Ltd. (Jiaherb, Inc.) (China), Synthite Industries Private Ltd. (India), Döhler (Germany), International Flavors & Fragrances, Inc. (US), Martin Bauer GmbH & Co. KG (Germany), and Arjuna Natural Extracts Ltd. (India)

Driving Factors and Restrain of Botanical extracts Market:

Driving Factors:

  • Increasing demand for Botanical extracts from end-use applications such as food & beverages, cosmetics, and pharmaceuticals
  • Consumer preference towards the consumption of herbal medicines due to the side-effects of synthetically prepared drugs
  • Rising awareness of the harmful effects of synthetic flavors
  • Health benefits offered by phytomedicines and herbal extracts
  • Easy applicability of Botanical extracts in cosmetics, research, and other industries due to their water solubility and prolonged shelf life

Restraints:

  • High cost of Botanical extracts due to the complexity of their extraction process and the limited availability of plant species
  • Lack of standardization and regulation in the Botanical extracts industry leading to inconsistent product quality
  • Increasing availability of synthetic substitutes for Botanical extracts

Trends Of Botanical extracts Market In Points:

  • Increasing demand for organic and natural Botanical extracts
  • Growing popularity of plant-based proteins and their use in Botanical extracts
  • Rising demand for Botanical extracts in the beauty and personal care industry
  • Development of novel Botanical extracts with improved functionality and efficiency
  • Increasing use of Botanical extracts in functional food and dietary supplements
  • Growing preference for Botanical extracts with specific health benefits, such as anti-inflammatory or antioxidant properties
  • Growing use of Botanical extracts in the treatment of chronic diseases and conditions
  • Advancements in extraction techniques leading to higher yields and improved purity of Botanical extracts
  • Growing investment in research and development activities to develop new Botanical extracts for various applications.

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