Botanical Ingredients Market Expected to Generate US$ 221.5 Billion, Expanding at CAGR of 6.5% During 2023-2028
According to the latest report by IMARC Group, titled “Botanical Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global botanical ingredients market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global botanical ingredients market size reached US$ 153.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 221.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
Botanical ingredients are substances derived from plants used in various industries, including cosmetics, food, and medicine. These ingredients are typically extracted from different parts of the plant, like the leaves, stems, flowers, and roots, and are known for their therapeutic and cosmetic benefits. Some common botanical ingredients include aloe vera, chamomile, lavender, green tea, peppermint, rosehip, and jojoba.
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Botanical Ingredients Market Trends:
The global market is majorly driven by the growing consumer demand for natural and organic products. In line with this, the increasing awareness of the health benefits associated with plant-based ingredients is significantly contributing to the market growth. Furthermore, the rising use of botanicals in dietary supplements is positively influencing the market. Apart from this, the escalating popularity of herbal medicines and Ayurvedic practices has led to a surge in demand for botanical ingredients in the healthcare industry. Moreover, the increasing health consciousness among consumers is catalyzing product demand worldwide. Besides, key companies are investing in research and development activities to expand their product portfolios and meet the growing demand for botanical ingredients in various applications.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- Ambe Phytoextracts Pvt Ltd.
- Bell Flavors & Fragrances
- Berje Inc.
- International Flavors & Fragrances Inc.
- Lipoid Kosmetik AG
- New Directions Aromatics Inc.
- Prakruti Products Pvt. Ltd.
- Indesso Aroma
- Rutland Biodynamics Ltd.
- Saba Botanical of Usa Inc.
- The Green Labs LLC
- The Herbarie at Stoney Hill Farm Inc
Key Market Segmentation:
Breakup by Source:
- Herbs
- Leaves
- Spices
- Flowers
- Others
Breakup by Form:
- Powder
- Liquid
Breakup by Application:
- Food and Beverages
- Dietary Supplements
- Cosmetics and Personal Care
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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