The Botanicals Market Driven By Rising Health And Wellness Trends

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The Botanicals Market comprises an extensive range of botanical ingredients derived from plants or herbs that are used in food and beverages, personal care, dietary supplements, and cosmetic products. Botanical extracts offer multiple health benefits and help provide nutrients, antioxidants, anti-inflammatory properties, and other therapeutic qualities. They are extensively used in end-use industries to impart color, flavor, texture, and preservation properties. Botanical extracts derived from green tea, coconut oil, aloe vera, turmeric, chamomile, and echinacea are widely utilized due to their anti-aging, anti-inflammatory, antioxidant and rejuvenating properties.

The Botanicals Market is estimated to be valued at US$ 112.31 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Botanicals Market includes DSM, AmbePhytoextracts, Berje, Indesso, and Lipoid Kosmetic. DSM and AmbePhytoextracts occupy a significant market share owing to their diverse product portfolio and widespread global distribution network.

The growing health ...
... and wellness trend among consumers has significantly driven the demand for botanical-based food and personal care products. The multifunctional benefits of botanicals extract are encouraging food manufacturers to introduce more botanicals-based fortified foods in the market.

Major players are focusing on geographic expansion strategies and establishing manufacturing facilities across Asia Pacific, North America, and Europe to cater to the growing demand from local industries. Countries like China, India, Brazil, and South Africa offer lucrative opportunities for global players given the increasing disposable incomes.

Market Drivers

The rising health and wellness trend among the worldwide population has significantly boosted the Botanicals Market. Consumers are increasingly opting for natural and organic personal care and food products due to growing awareness about the side effects of synthetic ingredients. This is providing a strong impetus to the use of botanical extracts in various end-use industries. Moreover, the COVID-19 pandemic has further augmented the demand for immunity-boosting botanical products like aloe vera and turmeric extracts. The multifunctional benefits and therapeutic properties of botanical extracts continue to aid the growth of this market.

The current geopolitical situation is impacting the growth of the Botanicals Market in several ways. Due to the rising geopolitical tensions and uncertainty, obtaining raw materials from key supplying regions like Asia and Africa has become challenging. Many countries have imposed restrictions on export of raw materials or increased tariffs to gain leverage in negotiations. This is hampering the steady supply chain of the Botanicals Market.

The market is also witnessing shortage of workforce and rise in labor costs in major cultivating and processing countries. Geopolitical conflicts are forcing people to migrate from rural and agriculturally important regions. This labor issues pose a threat to the cultivation and production scales needed to cater rising global demand for botanicals.

With changing political dynamics, compliance with varied import-export regulations across countries has become complex for botanicals companies. Maintaining geopolitical neutrality while operating globally is testing businesses. They need to focus on diversifying sourcing locations and building versatile supply networks that can flex as per evolving political scenarios. Opting for localized or regional business models would help mitigate political risks to an extent.

In terms of value, the Europe region currently holds the largest share in the Botanicals Market. Countries like Germany, France, Italy have strong domestic demand driven by large personal care, food & beverages industries that are major end-users of botanicals. Whereas, the Asia Pacific region has shown highest growth in recent years and is expected to retain its position as the fastest growing market during the forecast period as well. Emerging economies like India, China, Indonesia offer immense untapped market opportunities owing to their vast population base looking for botanical enriched personal and healthcare products.

The North America region is also a prominent revenue generator for Botanicals Market players. However, companies need to closely study the changing political scenario in the region and take informed decisions. While the United States dominates as the key individual country market, focus on Canada and Mexico would help strengthen market position in the entire North American zone.

Get more insights on this topic: https://fortunetelleroracle.com/news/botanicals-market-to-grow-at-strong-pace-driven-by-rising-demand-for-natural-ingredients-922253

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

What Are The Key Data Covered In This Botanicals Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Botanicals Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the Botanicals Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Botanicals Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Botanicals Market vendors

FAQ’s

Q.1 What are the main factors influencing the Botanicals Market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Botanicals Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Botanicals Market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it