Botanical Extracts Market, by Source (Spices, Herbs, Flowers, Tea Leaves), Form (Liquid, Powder), Application (Food, Beverages, Pharmaceutical, Cosmetic & Personal Care) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Any drug or pesticide that is made or extracted from parts of plants is referred to as botanical extracts. Demand for botanical extracts is registering steady growth, particularly in pharmaceutical and cosmetic sectors. Increasing awareness regarding the side effects of allopathic medicines together with the growing awareness about therapeutic effects and medicinal benefits of herbal products is driving the growth of global botanical extracts market. The long shelf life of botanical extracts along with its sudden reaction has led to an increase in demand for botanical extracts in the pharmaceutical industry. Functional food segment and self-medication are expected to drive the global botanical extracts market during the forecast period. Use of botanical extracts for weight management, anti-aging, joint & bone health, and digestion, among others, is identified to be a prominent trend in the global market.

Botanical Extracts Market Taxonomy

On the basis of source, the global market is classified into:

  • Spices
  • Herbs
  • Flowers
  • Tea Leaves

On the basis of form, the global market is classified into:

  • Liquid
  • Powder

On the basis of application, the global market is classified into:

  • 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 beverage industry. The powder segment is expected to account for a significant market share during the forecast period. Rising trend of exploring new cuisines and growing demand for healthy food will propel the demand for botanical extracts in the food industry.

Botanical Extracts Market Outlook

North America is expected to be the most lucrative market for botanical extracts followed by Europe. Many companies are inclining toward natural herb and botanical extracts products as they are witnessing high demand from every segment of food and beverage industry. According to 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 more botanical extracts in this sector. Substantial demand for organic and fair trade ingredients are bolstering the growth of global botanical extracts market. Also, high investments made in the food and beverage industry to develop new aromas and flavors using spice and plant extracts is expected to fuel the market growth. Botanical extracts market in Europe is driven by shifting consumer preference toward natural products and healthy lifestyle. In street and convenience foods, chilly and pepper are most commonly used, which boost the use of botanical extracts in the food industry.  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 botanical extracts manufacturers all over the world.

Manufacturers of botanical extracts are introducing technologies related to extraction methods to expand their portfolio. 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.

Some of the key players 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.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.