Covid-19 Impact on Botanical Ingredients Market Size to surge at 7.0% CAGR is expected to reach $225.2 Billion in 2027

Botanical Ingredients Market Growth & Trends

The global botanical ingredients market size is projected to reach USD 225.2 billion by 2027, expanding at a CAGR of 7.0%, according to a new report by Grand View Research, Inc. The growing demand for traditional medicines, functional-based foods and beverages, and premium ingredients expected to augment the market over the forecast period. Rising consumer demand for high-quality products with efficacy, proven safety, consistency, and purity has led manufacturing companies to look for recognized ingredients with clinically proven health benefits and better documentation.

Botanicals are fresh plants or plant parts that are combined or isolated with chemical components, extracted in ethanol, water, other oleoresins, organic solvents, essential oils, and other extracts to be used for flavoring, fragrance, medicines, and functional health benefits. It has been used over a while in a broad variety of ways, including ingredients in beverages such as energy drinks, fortified juices, and sports drinks.

The personal care and cosmetic application segment is expected to witness considerable growth on account of the growing popularity of the fair trade and organic certifications. Additionally, cosmetics producers are continuously looking for natural ingredients with functional properties, which further they can utilize in their formulations, such as plant-based extract.

The market is highly competitive in terms of increased interest in new ingredients and product innovation. There is a global trend towards the acquisition of small botanical companies by enormous personal care, pharmaceutical, food, and household product companies. Remaining small enterprises in the division tend to fill niches that might include fair trade and sustainable

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Botanical Ingredients Market Report

Botanical Ingredients Market Report Highlights

• In terms of revenue, the dietary supplements application segment is projected to ascend at a CAGR of 7.5% over the forecast period. This growth is attributed to rising prevalence of chronic diseases such as arthritis, cardiovascular problems, and diabetes and advantages associated with botanical drugs over synthetic drugs such as being safer and economic
• Increasing usage of plant derived products for healthy lifestyle and to reduce the risk of being ill is expected to promote the use of plant-based elements in dietary supplements production over the forecast period
• Growing consumption of plant-based elements mainly, herbs in pharmaceutical industry of U.S. with a CAGR of 5.8% on account of increasing awareness towards biologically derived elements. This, in turn, is expected to reduce the access of raw materials to dietary supplements manufacturers over the forecast period
• In June 2018, Synergy Flavors introduced a different variety of water-soluble, natural extracts for the dairy and beverage industry in Europe. The range contains popular plant-based flavors that pair well with sweeter fruit profiles and adding a positioning to soft and alcoholic beverages.