Global Botanical Extracts Market Set For 10.1% Growth, Reaching $10.48 Billion By 2028

The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!

LONDON, GREATER LONDON, UNITED KINGDOM, December 19, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!

The botanical extracts market has experienced robust growth in recent years, expanding from $6.51 billion in 2023 to an anticipated $7.13 billion in 2024, a compound annual growth rate CAGR of 9.5%. This escalation during the historical period is largely attributed to a blend of factors including traditional remedies, cultural and traditional use, exploration and trade routes, and favorable government regulations.

What Is the Anticipated Growth Rate and Market Size of the Global Botanical Extracts Market?

The botanical extracts market is projected to see rapid growth in the near future. There's an expected rise to $10.48 billion by 2028, boasting an impressive compound annual growth rate CAGR of 10.1%. This forecast is a result of multiple driving factors such as rising health awareness, growing demand for functional foods and beverages, the prevalence of plant-based products, the popularity of herbal supplements, and increased disposable income. Major trends driving the forecast period include research and development, innovative products, mergers and acquisitions, and government initiatives.

Discover detailed insights about the global botanical extracts market with a comprehensive sample report here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8744&type=smp

What Are the Primary Growth Drivers Of The Botanical Extracts Market?

A rising demand for convenience food products propels the botanical extracts market forward. Convenience food refers to tertiary processed food, which is ready-to-eat. These include plant extracts, utilized to enhance both the color and flavor of high-fat and ready-to-eat foods such as meat. Botanical extracts, concentrated sources of plant materials boasting medicinal characteristics, are employed in the food industry to deliver health benefits. Increased consumer spending on convenience food products is expected to contribute to the development of the botanical extracts market. For instance, in 2022, according to the Economic Research Service of U.S. Department Of Agriculture, US consumers spent an average of 11.3% of their total food expenditures on food away from home.

Learn more about the botanical extracts market with our full report here: https://www.thebusinessresearchcompany.com/report/botanical-extracts-global-market-report

Which Market Leaders are Driving the Botanical Extracts Market?

Major companies influencing the botanical extracts market include International Flavors & Fragrances Inc., Himalaya Herbal Healthcare, Blue Sky Botanics Ltd., Naturex, Synthite Industries Ltd., Nexira, Layn Natural Ingredients Corp., Indesso, Dohler GmbH, Hunan Nutramax Inc., and Haldin Natural. Other influential players include Nutra Green Biotechnology Co. Ltd., Kalsec Inc., Arjuna Natural Pvt. Ltd., Shaanxi Jiahe Phytochem Co. Ltd., Tianjin Jianfeng Natural Products Co. Ltd., Bio-Botanica Inc., Nature's Power Nutraceuticals Corp., Synergy Flavors, Martin Bauer Group, Lipoid-Kosmetik, Phytochem India, Plant Extracts International Inc., Kuber Impex Ltd., Ransom Naturals Ltd., MB-Holding GmbH & Co KG, Frutarom Industries Ltd., Biomax Life Sciences Ltd., Organic Herb Inc., and Xi'an Sgonek Biological Technology Co. Ltd.

Product Innovation: Next Big Thing in Botanical Extracts Market?

Product innovation is an emerging trend in the botanical extracts market. Industry leaders are focusing on the development of extracts with increased bioavailability. For example, Layn Natural Ingredients, a China-based manufacturer of innovative botanical extract ingredients, launched bio Quercitrin in September 2022, a highly bioavailable form of Quercetin intended for nutraceutical use.

How Is The Global Botanical Extracts Market Categorized?

The botanical extracts market is segmented in this particular manner:
1 By Technology: CO2 Extraction, Solvent Extraction, Steam Distillation, Enfleurage, Other Technologies
2 By Source: Spices, Herbs, Flowers, Leaves, Other Sources
3 By Form: Liquid, Powder, Semi-Solid
4 By Application: Food and Beverages, Pharmaceutical and Nutraceutical, Cosmetics

Regional Insights: North America Takes The Lead in the Botanical Extracts Market

In 2023, North America held the largest share in the botanical extracts market. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Browse more similar reports-
Functional Foods Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/functional-foods-global-market-report
Functional Food Ingredients Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/functional-food-ingredients-global-market-report
Food Antioxidants Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/food-antioxidants-global-market-report

To gain a better understanding of The Business Research Company, visit our website herehttps://www.thebusinessresearchcompany.com/). The Business Research Company has published over 15000+ reports across 27 industries, covering more than 60 geographies. Our reports incorporate 1,500,000 datasets, extensive secondary research, and first-hand insights from interviews with industry leaders.

For any queries, reach us at:
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Or, drop us an email at info@tbrc.info

Join our online community:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn