The global botanical ingredients market size is expected to be worth around US$ 280.9 billion by 2030, according to a new report by Vision Research Reports.
The global botanical ingredients market size was valued at US$ 146.38 billion in 2020 and is anticipated to grow at a CAGR of 7.9% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 280.9 Bn by 2030 |
| Growth Rate | CAGR of 7.9% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Source, form, application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | International Flavors & Fragrance,7 Inc.; Indesso Aroma; Bell Flavors & Fragrances; Prakruti Products Pvt. Ltd.; Berje Inc.; Umalaxmi Organics Pvt. Ltd.; AmbePhytoextracts Pvt. Ltd.; Ribus Inc.; The Green Labs LLC; Rutland Biodynamics Ltd.; Lipoid Kosmetic AG; and The Herbarie at Stoney Hill Farm, Inc |
Growth Factors
The market is witnessing growth primarily due to the rising health-conscious consumer base coupled with clean label trends in the pharmaceutical, food, and beverage industries. Consumers are increasingly shifting to healthier alternatives while adopting preventive care as a necessary tool to help them lead a better lifestyle. Thus, botanical ingredients are being increasingly utilized in the manufacturing of food & beverages as they are a rich source of bioactive compounds and render a diverse range of biological effects.
By Source Analysis
The spices segment led the market in 2020 accounting for a 28.3% share of the global revenue. The segment is expected to witness substantial gain over the forecast period due to changing lifestyles demanding healthy food that is convenient along with a popular trend of experiencing novel foods.
This can be attributed to changing lifestyles and inclination towards leading a luxurious and healthy lifestyle, which has contributed to the growth of horticulture along with the botanical flower industry.
The herbs segment is expected to witness a CAGR of 8.3% during the forecast period on account of their extensive utilization of traditional medicines. Herb-based medicinal products are gaining importance globally on account of their health benefits, such as improved metabolism &immune system, and stabilization of hormones.
By Form Analysis
The powder segment accounted for the largest market share of 61.0%, in terms of revenue, in 2020. Botanical ingredients, extracted in the form of powder, are widely utilized to enhance the palatability of food and beverages as well as preservatives.
The liquid form is more suitable for making Ready-to-Drink (RTD) beverages, cold beverages, and beverage mixes. The growing popularity of RTD beverages, owing to their ease of consumption, strong nutritional profile, and easy availability, is expected to drive the demand for liquid form in the market.
By Application Analysis
The food and beverage application segment dominated the market in 2020 with over 34% share of global revenue. Botanical ingredients are increasingly being incorporated into various food & beverage applications owing to their unique flavor and health benefits.
Beverages accounted for a significant share in the application segment in 2020 owing change in lifestyle of consumers, which have propelled the demand for RTD beverages. In addition, increasing efforts by the manufacturer to develop RTD beverages with different flavors and fortified botanical ingredients are benefitting the segment growth.
The use of botanical ingredients in pharmaceuticals is one of the upcoming trends in the current market scenario. Growing demand for plant-based medicines and rising awareness about the benefits of botanical ingredients are likely to be the major factors driving the market over the forecast period.
By Regional Analysis
North America dominated the market and accounted for more than 35% share of global revenue in 2020. The high prevalence of various lifestyle diseases in the U.S. and Mexico, due to the rising cases of obesity, is expected to support the growth of the regional market.
Asia Pacific is expected to witness the fastest CAGR during the forecast years. Factors, such as the penetration of organized and e-commerce retail, are driving the consumption of convenience food products incorporated with botanical ingredients.
Key Players
Market Segmentation
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Botanical Ingredients Market, By Form
7.1. Botanical Ingredients Market, by Form, 2021-2030
7.1.1. Powder
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Liquid
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Botanical Ingredients Market, By Source
8.1. Botanical Ingredients Market, by Source, 2021-2030
8.1.1. Herbs
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Leaves
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Spices
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Flowers
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Botanical Ingredients Market, By Application
9.1. Botanical Ingredients Market, by Application, 2021-2030
9.1.1. Food & Beverages
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Dietary Supplements
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Personal Care & Cosmetics
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Pharmaceuticals
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Botanical Ingredients Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Form (2017-2030)
10.1.2. Market Revenue and Forecast, by Source (2017-2030)
10.1.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Form (2017-2030)
10.2.2. Market Revenue and Forecast, by Source (2017-2030)
10.2.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Form (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Source (2017-2030)
10.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Form (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Source (2017-2030)
10.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Form (2017-2030)
10.3.2. Market Revenue and Forecast, by Source (2017-2030)
10.3.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Form (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Source (2017-2030)
10.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Form (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Source (2017-2030)
10.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Form (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Source (2017-2030)
10.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Form (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Source (2017-2030)
10.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Form (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Source (2017-2030)
10.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Form (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Source (2017-2030)
10.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Indesso
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Lipoid Kosmetic AG
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. The Herbarie at Stoney Hill Farm, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. International Flavors& Fragrances, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Bell Flavors& Fragrances
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Rutland Biodynamics Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Prakruti Products Pvt. Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. AmbePhytoextractsPvt. Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. The Green Labs LLC
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Berje, Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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