Botanical Extracts Market: Current Analysis and Forecast (2021-2027)
Emphasis on Source (Spices, Herbs, Flowers, Others)); Application (Food & Beverage, Pharmaceutical, Cosmetic & Personal Care, Others); Form (Powder, Liquid); Region/Country
RD_Botanical Extracts- Current Scenario and Forecast (2021-2027)
The Global Botanical Extracts is Expected to Display an Elevated CAGR of ~9% Over the Forecast Period (2021-2027)
A surge in the end user’s disposable income is one of the leading factors that is contributing to the growing market of Botanical Extracts globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China are projected to allow consumers to spend more on healthy food options, which is also acting as a growth catalyst to the industry.
As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively. Also, the rising purchasing power is leading to the growing investment in fashionable apparel including sleepwear, etc., which is contributing to the growing market for Botanical Extracts.
Also, The growing geriatric population base with a higher predisposition to various age-related diseases such as digestive problems, etc. is a leading cause that is adding pace to the growth in the demand for Botanical Extracts for healthy diets and proper nutrition. According to the United Nations, the global population aged 60 years or over was numbered at 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050
Household disposable income Net, Annual growth rate (%), By Selected Countries, 2017 –19
Mb-Holding GmbH & Co. Kg., Dohler GmbH., Blue Sky Botanics Ltd, Kuber Impex Ltd., Synthite Industries Ltd., Kalsec Inc., Synergy Flavors, Nutra Green Biotechnology Co., Ltd, etc. are some of the prominent players operating in the Botanical Extracts market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Source, Flower segment holds the major share”
Based on the Source, the market is fragmented into spices, herbs, flowers, and others. The herbs segment grabbed the major market share and dominated the market. However, the flower segment is expected to have the highest CAGR during the forthcoming years owing to the surging demand from consumers for various flower aromatic products
“Amongst Application, Food and Beverage segment holds the major share”
Based on the application, the market is fragmented into food & beverage, pharmaceutical, cosmetic & personal care, and others. The food and beverage segment grabbed the major market share and dominated the market. Moreover, the market of this segment would witness the highest CAGR during the forthcoming years owing to the growing demand for natural and organic products. However, the cosmetic & personal care segment would grab a considerable CAGR during the forthcoming years as well.
“Amongst Form, Powder segment holds the major share”
Based on the form, the market is fragmented into powder and liquid. The powder segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. The segment is witnessing an uptick owing to the benefits such as being easy to consume. H0owvwe, the segment would proliferate in the forthcoming years. Liquid Extracts are added to original formulations or incorporated into various cosmetic bases.
“North America represents one of the largest markets of Botanical Extracts market”
For a better understanding of the market dynamics of the Botanical Extracts market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Botanical Extracts in abundance and new launches are some of the factors that are contributing to the growth of the market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Botanical Extracts Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Botanical Extracts Market were the three major steps undertaken to create and analyze the demand for Botanical Extracts across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Botanical Extracts market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Botanical Extracts through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Botanical Extracts market, we conducted a detailed secondary analysis to gather historical market insights and share for source, application, and form for major regions. Major segments included in the report are form ad applications. Further region and country-level analyses were conducted to evaluate the overall adoption of Botanical Extracts across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Botanical Extracts. Further, we conducted factor analysis using dependent and independent variables such as growth in disposable income, surging e-commerce sectors, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Botanical Extracts industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Botanical Extracts market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Botanical Extracts across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Botanical Extracts market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Botanical Extracts market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of source, form, and application of the Botanical Extracts market.
Main Objective of the Botanical Extracts Market Study
The current & future market trends of Botanical Extracts were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Botanical Extracts in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of source, form, and application
- Define and analysis of the regulatory framework for the Botanical Extracts industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Botanical Extracts market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
- Company profiles of the Botanical Extracts market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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