Botanical extracts market size to grow by USD 2,755.43 million between 2022 and 2027; All Season Herbs Pvt. Ltd., Arjuna Natural Pvt Ltd., among others identified as key vendors - Technavio

NEW YORK, April 20, 2023 /PRNewswire/ -- The botanical extracts market size is set to grow by USD 2,755.43 million between 2022 and 2027 and register a CAGR of 8.78%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. All Season Herbs Pvt. Ltd., Arjuna Natural Pvt Ltd., Bell Flavors and Fragrances GmbH, BI Nutraceuticals, Bio Botanica Inc., Botanical Extracts EPZ Ltd., Carrubba Inc., Dohler GmbH, Grupo Natac S.L.U., Indesso, International Flavors and Fragrances Inc., Jairamdass Khushiram, Kalsec Inc., Kerry Group Plc, MB Holding GmbH and Co. KG, NEXIRA, Prinova Group LLC, Ransom Naturals Ltd., Synergy Flavors Inc., and Synthite Industries Ltd. are some of the major market participants.

The incidences of chronic diseases increase demand for non-traditional drug sources, growing awareness of benefits of natural cosmetics, and the increasing demand for clean-label products will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Botanical Extracts Market 2023-2027: Segmentation

• Application 
• F and B
• Nutraceuticals
• Cosmetics
• Type 
• Powder
• Liquid
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East and Africa

The market growth in the F and B segment will be significant over the forecast period. Botanical extracts are widely used in the food and beverage industry in various applications such as alcoholic and non-alcoholic beverages, dairy products, meat products, bakeries, and confectionery. The use of botanical extracts in the segment is increasing with rising consumer demand for clean-label, transparent, and premium products. In addition, botanical extracts offer various health benefits such as energizing and boosting the immune system, improving skin health, and inducing relaxation. All these factors drive the growth of the segment.

North America will account for 35% of the market growth during the forecast period. The growth of the regional market can be attributed to the rising focus on adopting healthy lifestyles, the presence of a well-established F&B industry, and the presence of key vendors. High urbanization rates and increased expenditure by consumers in luxury segments in personal care, aromatherapy, and F&B also contribute to the growth of the botanical extracts market in North America.

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Botanical Extracts Market 2023-2027: Vendor Analysis and Scope

The global botanical extracts market is fragmented with the presence of numerous global and regional vendors. Vendors opt for pricing and marketing strategies to retain their existing market shares and seize new market opportunities. Medium product differentiation further intensifies the competition in the market. The need for high initial investments and difficulty in adjusting to the regulatory scenario in the industry control the entry of new entrants in the market. Some vendors are more specialized in terms of a broad product portfolio, while others have substantial financial resources. All these factors are expected to intensify the competition in the global botanical extracts market during the forecast period. Some of the key vendors covered in the report include:

• Bell Flavors and Fragrances GmbH - The company offers botanical extracts from herbs and spices, fruits, citrus and berries, vanilla, cocoa, coffee, and tea.
• Bio Botanica Inc. - The company offers botanical extracts that are used as supplements in the food and beverage, cosmetic, and personal care industries.
• Dohler GmbH - The company offers botanical extracts that are extracted from African plants and fruits for food and beverages.
• Indesso - The company offers botanical extracts that include chlorella powder, cinnamon extract, and flaxseed oil powder.
• All Season Herbs Pvt. Ltd.
• BI Nutraceuticals
• Botanical Extracts EPZ Ltd.
• Carrubba Inc.
• Grupo Natac S.L.U.
• International Flavors and Fragrances Inc.
• Jairamdass Khushiram
• Kalsec Inc.
• Kerry Group Plc
• MB Holding GmbH and Co. KG
• NEXIRA

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The report also covers the following areas:

• Botanical Extracts Market size
• Botanical Extracts Market trends
• Botanical Extracts Market analysis

Botanical Extracts Market 2023-2027: Market Dynamics

• Driver – The market is driven by the incidences of chronic diseases and the increasing demand for non-traditional drug sources. The rise in pollution levels and the adoption of sedentary lifestyles have increased the prevalence of chronic diseases such as cancer, cardiovascular diseases (CVDs), diabetes, and autoimmune diseases. For instance, every year, approximately 1.5 million new cases of cancer are diagnosed annually in the US alone. Also, approximately 500,000 individuals die from the disease annually in the US. The growing incidence of such diseases has created a strong demand for novel therapeutics with improved efficacy. Pharmaceutical products made from botanical extracts cost less than synthetic drugs. They contain one or more herbal substances as active ingredients compared with synthetic drugs containing chemically-active substances. These drugs consist of a plethora of natural compounds that activate or modulate target systems in organisms. Such benefits are increasing the use of botanical extracts in drug development. Thus, the increasing prevalence of chronic diseases is expected to drive the growth of the market during the forecast period.
• Trend – The growing applications of botanical extracts in the beverage industry is identified as the key trend in the market. The use of botanical extracts in the food and beverage industry is increasing with growing consumer awareness regarding health and wellness and an inclination toward natural products. Food and beverage manufacturers are increasingly using botanical extracts in beverages such as beer and wine. The expansion of beer and wine manufacturing facilities, especially in China and India has increased the use of botanical extracts as functional beer additives. Botanical extracts and their derivatives are also used in green tea products as they contain a great source of antioxidants and other health benefits, from promoting heart, liver, and brain health to improving skin and even reducing risks of cancer. Such factors are increasing the use of botanical extracts in the F&B industry, which is fueling market growth.
• Challenge – The high price of products will challenge the growth of the market. The market has a significant number of players. However, only a few can afford to use technological leverage and sophistication to maintain quality. The vendors require significant R&D efforts and need to secure their discoveries by patenting their products. This makes botanical extracts expensive, which leads to increased costs of end-use products. It affects the consumption patterns in cost-sensitive developing economies with lower disposable incomes. Thus, many consumers in developing countries refrain from purchasing products made from botanical extracts. All these factors challenge the growth of the market.

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Botanical Extracts Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist botanical extracts market growth during the next five years
• Estimation of the botanical extracts market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the botanical extracts market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of botanical extracts market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global botanical extracts market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global botanical extracts market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 F and B - Market size and forecast 2022-2027 
• Exhibit 34: Chart on F and B - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on F and B - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on F and B - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on F and B - Year-over-year growth 2022-2027 (%)

• 6.4 Nutraceuticals - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Nutraceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Nutraceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Nutraceuticals - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Nutraceuticals - Year-over-year growth 2022-2027 (%)

• 6.5 Cosmetics - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Cosmetics - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Cosmetics - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)
• Exhibit 47: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Powder - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Powder - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Powder - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Powder - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Powder - Year-over-year growth 2022-2027 (%)

• 7.4 Liquid - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Liquid - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Liquid - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Liquid - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Liquid - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ million)
• Exhibit 61: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 France - Market size and forecast 2022-2027 
• Exhibit 91: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Arjuna Natural Pvt Ltd. 
• Exhibit 115: Arjuna Natural Pvt Ltd. - Overview
• Exhibit 116: Arjuna Natural Pvt Ltd. - Product / Service
• Exhibit 117: Arjuna Natural Pvt Ltd. - Key offerings

• 12.4 Bell Flavors and Fragrances GmbH 
• Exhibit 118: Bell Flavors and Fragrances GmbH - Overview
• Exhibit 119: Bell Flavors and Fragrances GmbH - Product / Service
• Exhibit 120: Bell Flavors and Fragrances GmbH - Key offerings

• 12.5 BI Nutraceuticals
• Exhibit 121: BI Nutraceuticals - Overview
• Exhibit 122: BI Nutraceuticals - Product / Service
• Exhibit 123: BI Nutraceuticals - Key offerings

• 12.6 Bio Botanica Inc.
• Exhibit 124: Bio Botanica Inc. - Overview
• Exhibit 125: Bio Botanica Inc. - Product / Service
• Exhibit 126: Bio Botanica Inc. - Key offerings

• 12.7 Dohler GmbH
• Exhibit 127: Dohler GmbH - Overview
• Exhibit 128: Dohler GmbH - Product / Service
• Exhibit 129: Dohler GmbH - Key offerings

• 12.8 Grupo Natac S.L.U.
• Exhibit 130: Grupo Natac S.L.U. - Overview
• Exhibit 131: Grupo Natac S.L.U. - Product / Service
• Exhibit 132: Grupo Natac S.L.U. - Key offerings

• 12.9 Indesso
• Exhibit 133: Indesso - Overview
• Exhibit 134: Indesso - Product / Service
• Exhibit 135: Indesso - Key offerings

• 12.10 International Flavors and Fragrances Inc. 
• Exhibit 136: International Flavors and Fragrances Inc. - Overview
• Exhibit 137: International Flavors and Fragrances Inc. - Business segments
• Exhibit 138: International Flavors and Fragrances Inc. - Key news
• Exhibit 139: International Flavors and Fragrances Inc. - Key offerings
• Exhibit 140: International Flavors and Fragrances Inc. - Segment focus

• 12.11 Kalsec Inc.
• Exhibit 141: Kalsec Inc. - Overview
• Exhibit 142: Kalsec Inc. - Product / Service
• Exhibit 143: Kalsec Inc. - Key offerings

• 12.12 Kerry Group Plc
• Exhibit 144: Kerry Group Plc - Overview
• Exhibit 145: Kerry Group Plc - Business segments
• Exhibit 146: Kerry Group Plc - Key offerings
• Exhibit 147: Kerry Group Plc - Segment focus

• 12.13 MB Holding GmbH and Co. KG 
• Exhibit 148: MB Holding GmbH and Co. KG - Overview
• Exhibit 149: MB Holding GmbH and Co. KG - Product / Service
• Exhibit 150: MB Holding GmbH and Co. KG - Key offerings

• 12.14 Prinova Group LLC
• Exhibit 151: Prinova Group LLC - Overview
• Exhibit 152: Prinova Group LLC - Product / Service
• Exhibit 153: Prinova Group LLC - Key offerings

• 12.15 Ransom Naturals Ltd.
• Exhibit 154: Ransom Naturals Ltd. - Overview
• Exhibit 155: Ransom Naturals Ltd. - Product / Service
• Exhibit 156: Ransom Naturals Ltd. - Key offerings

• 12.16 Synergy Flavors Inc.
• Exhibit 157: Synergy Flavors Inc. - Overview
• Exhibit 158: Synergy Flavors Inc. - Product / Service
• Exhibit 159: Synergy Flavors Inc. - Key offerings

• 12.17 Synthite Industries Ltd. 
• Exhibit 160: Synthite Industries Ltd. - Overview
• Exhibit 161: Synthite Industries Ltd. - Product / Service
• Exhibit 162: Synthite Industries Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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