Botanicals Market by Source and Geography - Forecast and Analysis 2022-2026

The botanicals market share is expected to increase to USD 6.82 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 13.68%.

This botanicals market research report extensively covers botanicals market segmentation by source (herbs, spices, flowers, and others) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The botanicals market report also offers information on several market vendors, including AmbePhytoextracts Pvt. Ltd., Bell Flavors and Fragrances GmbH, Berje Inc., BI Nutraceuticals, Blue Sky Botanics Ltd., Dohler GmbH, Indesso, International Flavors and Fragrances Inc., Kalsec Inc., Kuber Impex Ltd., Lipoid Kosmetic AG, Nutra Green Biotechnology Co. Ltd., Prakruti Products Pvt. Ltd., Prinova Group LLC, Ransom Naturals Ltd., Rutland Biodynamics Ltd., Synergy Flavors, Synthite Industries Ltd., The Herbarie at Stoney Hill Farm Inc., and Umalaxmi Organics Pvt. Ltd. among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Botanicals Market Size be During the Forecast Period?

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Botanicals Market: Key Drivers, Trends, and Challenges

The growing demand for food and beverages with botanical ingredients is notably driving the botanicals market growth, although factors such as stringent quality standards and regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the botanicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Botanicals Market Driver

One of the key factors driving the global botanicals market growth is the growing demand for food and beverages with botanical ingredients owing to increase in consumer awareness about the adverse side effects of synthetic chemicals used in food and beverages. In addition, several regulations have been imposed by health organizations and food safety associations to prohibit the use of artificial flavorings and promote the use of naturally extracted counterparts such as botanical ingredients. For instance, in October 2018, the US Food and Drug Administration (FDA) banned seven synthetic flavorings used in food and beverages associated with cancer. In addition, in November 2021, Kerry Group plc launched its Botanicals Collection Zero 2.0, a range of clean-label, premium botanical extracts containing 0% ethanol, designed specifically for the low- and no-alcohol beverage markets. Such factors will boost the market growth during the forecast period.

Key Botanicals Market Trend

Growing demand for organic herbal cosmetics is one of the key botanicals market trends that is expected to impact the industry positively in the forecast years. For instance;

• In October 2020, Tata's Natural Alchemy, LLC, expanded its market by launching its products in the UAE. In addition, some leading personal care brands ensure that their product packaging is plant-based.
• In March 2021, Artistry brand, a skincare and cosmetics products brand owned by Amway Corp., launched Artistry Skin Nutrition Line, which is a clean, traceable, and vegan skincare line.

The Green People Company Ltd., a UK-based company that manufactures organic herbal cosmetic products, makes use of cardboard boxes for the packaging of its skincare products that are made with 25% grass pulp and are biodegradable. These trends will lead to the increased usage of botanicals and will drive the market's growth during the forecast period.

Key Botanicals Market Challenge

One of the key challenges to the global botanicals market growth is the stringent quality standards and regulations. The World Health Organization (WHO) has guidelines on GMPs for manufacturing medicines containing botanical ingredients. In 2009, in India, the National Medicinal Plants Board developed India-specific guidelines on good agriculture practices and good field collection practices in line with the GACPs developed by the World Health Organization. In addition, as per the EU Traditional Herbal Medicinal Product Directive (2004/24/EC), manufacturers are required to submit the quantitative and qualitative particulars of the constituents of the herbal medicinal product, a description of the manufacturing methods used, the therapeutic indications of the product, adverse reactions, and posology. Following these stringent regulations and guidelines provided by global food safety associations is a challenge for vendors in the global botanicals market, which may negatively impact the market growth during the forecast period.

This botanicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global botanicals market as a part of the global agricultural products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the botanicals market during the forecast period.

Who are the Major Botanicals Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AmbePhytoextracts Pvt. Ltd.
• Bell Flavors and Fragrances GmbH
• Berje Inc.
• BI Nutraceuticals
• Blue Sky Botanics Ltd.
• Dohler GmbH
• Indesso
• International Flavors and Fragrances Inc.
• Kalsec Inc.
• Kuber Impex Ltd.
• Lipoid Kosmetic AG
• Nutra Green Biotechnology Co. Ltd.
• Prakruti Products Pvt. Ltd.
• Prinova Group LLC
• Ransom Naturals Ltd.
• Rutland Biodynamics Ltd.
• Synergy Flavors
• Synthite Industries Ltd.
• The Herbarie at Stoney Hill Farm Inc.
• Umalaxmi Organics Pvt. Ltd.

 

This statistical study of the botanicals market encompasses successful business strategies deployed by the key vendors. The botanicals market is fragmented and the vendors are deploying growth strategies such as investment in R and D to compete in the market.

Product Insights and News

• BI Nutraceuticals - The company offers botanical powders, botanical extracts, botanical teas such as alfalfa herb and leaf, green tea leaf. 
• BI Nutraceuticals - Through the unified segment, the company offers a wide range of botanical extracts, botanical teas, and botanical extracts. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The botanicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Botanicals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the botanicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Source Segments in the Botanicals Market?

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The botanicals market share growth by the herbs segment will be significant during the forecast period. The significant increase in the demand for botanical herbs such as ashwagandha root extract, amla extract, black pepper extract, and fenugreek extracts owing to their multiple health benefits, will drive the market growth through this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the botanicals market size and actionable market insights on post COVID-19 impact on each segment.

Which are the Key Regions for Botanicals Market?

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33% of the market's growth will originate from Europe during the forecast period. The UK is the key market for botanicals in Europe. Market growth in this region will be faster than the growth of the market in North America and MEA.

The significant increase in the demand for functional food and beverages which contain botanical ingredients will facilitate the botanicals market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic had a negative impact on the regional botanicals market. However, in H2 2020, due to the availability of vaccines, there was a reduction in the COVID-19 cases in the region. Thus, the COVID-19 restrictions eased, which led to the reopening of factories and warehouses of vendors. Furthermore, with supermarkets, hypermarkets, and convenience stores reopening, the consumer demand for personal care products and dietary supplements using botanical ingredients rebounded. Thus, the rising consumption of products containing botanical ingredients will contribute to the growth of the regional botanicals market during the forecast period.

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Botanicals Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 13.68%
Market growth 2022-2026	$ 6.82 billion
Market structure	Fragmented
YoY growth (%)	12.19
Regional analysis	Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution	Europe at 33%
Key consumer countries	US, Canada, China, India, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AmbePhytoextracts Pvt. Ltd., Bell Flavors and Fragrances GmbH, Berje Inc., BI Nutraceuticals, Blue Sky Botanics Ltd., Dohler GmbH, Indesso, International Flavors and Fragrances Inc., Kalsec Inc., Kuber Impex Ltd., Lipoid Kosmetic AG, Nutra Green Biotechnology Co. Ltd., Prakruti Products Pvt. Ltd., Prinova Group LLC, Ransom Naturals Ltd., Rutland Biodynamics Ltd., Synergy Flavors, Synthite Industries Ltd., The Herbarie at Stoney Hill Farm Inc., and Umalaxmi Organics Pvt. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Botanicals Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive botanicals market growth during the next five years
• Precise estimation of the botanicals market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the botanicals industry across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of botanicals market vendors

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