Global $5.8 Billion Botanical Extracts Market 2017-2022 - Emergence of New Application Areas Accordance With Changing Consumption Trends
DUBLIN, November 17, 2017 /PRNewswire/ --
The "Botanical Extracts Market - Global Opportunity Analysis and Industry Forecast (2017-2022)" report has been added to Research and Markets' offering.
Global Botanical Extracts Market is expected to reach USD 5,833.4 million by 2022, supported by a CAGR of 8.8% during the forecast period of 2017 to 2022.
The botanical extracts market is mainly driven by the growing awareness of health and wellness and trend towards the natural health products, strict regulations regarding inclusion of synthetic flavours, growing population in developing countries discovering the health benefits of botanicals, increase in demand for convenience food, and growing demand of botanical extracts in herbal medicinal products.
Moreover, increasing investments in emerging economies, and the emergence of new application areas with changing consumption trends provides significant opportunities within the food and beverage markets. However, the availability of substitutes such as synthetic flavour is expected to hinder the growth of this market to some extent.
The global botanical extracts market is mainly segmented by source (spices, herbs, flowers, and tea leaves), by form (powder and liquid), and by the application (food, beverages, cosmetics, and pharmaceuticals). With their versatile functional properties, the application areas of botanical extracts have been increased significantly in cosmetics and personal care products.
North America accounted for the major share in the global botanical extracts market in 2016, followed by Europe, and Asia-Pacific. The major share of the North American region is mainly attributed to the increasing functional food consumption, growing health consciousness, and changing diseases pattern in the region.
On the other hand, Asia-Pacific region is projected to grow at the fastest CAGR during the forecast period, mainly due to increasing disposable income, growing urbanization, increasing prevalence of various chronic diseases such as diabetes, and rising demand for healthy & natural products.
Market Dynamics
Drivers
- Growing Awareness of Health and Wellness and Trend Towards The Natural Health Products
- Strict Regulations Regarding Inclusion of Synthetic Flavours
- Growing Population in Developing Countries Discovering the Health Benefits of Botanicals
- Increase in Demand For Convenience Food
- Increase in Demand of Botanical Extracts In Herbal Medicinal and Cosmetics Products
Restraints
- Availability of Substitutes
Opportunities
- Emergence of New Application Areas Accordance With Changing Consumption Trends
- Increase in Investments in the Emerging Economies
Challenges
- Limited Supply of Raw Material
- Frequently Varying Prices of Extract Sources
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Insights
5 Botanical Extracts Market, By Source
6 Botanical Extracts Market, By Form
7 Botanical Extracts Market, By Application
8 Botanical Extracts Market, By Geography
9 Competitive Landscape
10 Company Profiles
- Blue Sky Botanics Ltd.
- BI Nutraceuticals
- Dhler GmbH
- Frutarom Industries Ltd.
- Haldin Pacific Semesta PT
- Kalsec, Inc.
- Kuber Impex Ltd.
- Mb-Holding Gmbh & Co. Kg
- Nutra Green Biotechnology Co. Ltd.
- Prinova Group Llc.
- Pt. Indesso Aroma
- Ransom Naturals Ltd.
- Synergy Flavors, Inc.
- Synthite Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/f433xx/botanical
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