Botanical Ingredients Market accounted for US$ 4.3 billion in 2019 and is estimated to be US$ 10.1 billion by 2029 and is anticipated to register a CAGR of 8.9%.Botanical ingredients are also known as herbal dietary herbals or supplements. These are supplements obtained from plants, plant parts, and plant extracts. Botanical ingredients are in both complementary and traditional medicine and are obtained in various forms such as gel caps, capsules, tablets, liquids, powders, and soft-gels. Botanical ingredients act as a natural substitute for the treatment of hormone replacement therapy. These ingredients provide natural ways for the appropriate functioning of brain, heart, and helps in sustaining joint tissue health and connective tissue health

The report "Global Botanical Ingredients Market, By Source (Herbs, Leaves, Spices, Flowers, and Others), By Form (Powder and Liquid), By Application (Food & Beverages, Dietary Supplements, Cosmetic & Personal Care, Pharmaceuticals, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

• In February 2020, Swiss cosmetics manufacturer Lipoid Kosmetik has expanded its skincare portfolio with two new plant-based applications for the skincare category. The new PhytoCodine product is said to mimic the activity of matrikines, dermal messenger peptides, that naturally occur in the skin and instruct it to reorganise and build-up the extracellular mix, and support facial density and elasticity.

Analyst View:

Botanical ingredients are used as flavoring supplements in oils, fats, and food emulsions. They make a synergizing effect when added along with other natural food preservatives. The rising trend toward clean label products, which are gradually becoming compulsory across the world, is also boosting the market growth for botanical ingredients and in turn fascinating food manufacturers to develop new formulations and products to meet the growing consumer demand for healthier food products. Additionally, high disposable income, urbanization, and growing demand for healthy nutritional foods are key factors influencing the natural extracts market.

The presence of alternative products in the form of synthetic flavors is the main limit for the target market growth. This is mainly attributed due to the large advantages associated with synthetic flavors such as uniform & consistent quality, lower prices compared to spices & herbs, and comfort of use in contrast to natural products.

Key Market Insights from the report:

The global botanical ingredients market accounted for US$ 4.3 billion in 2019 and is estimated to be US$ 10.1 billion by 2029 and is anticipated to register a CAGR of 8.9%. The market report has been segmented on the basis of source, form, application, and region.

• By source, the spice segment estimated for the highest market share in 2019 and is projected to register significant gain during the forecast period on account of changing lifestyles along with an growth in the trend of witnessing novel foods that have led to the growth in the popularity of spices.

• By form, the powder form segment estimated for the highest market share in 2019 and is projected to register significant gain in the coming years. This is attributed to its extensive utilization in various applications such as sauces and dressing, bakery and confectionery, soy, meat, dairy, dietary supplements, and medicines

• By application, the food and beverage application segment accounted for the maximum market share in 2019, owing to surge in requirement of ready-to-eat food leading to a surge in the manufacturing sector, particularly in the developing countries such as India, China, and Brazil.

• By region, North America estimated for the highest market share in 2019 in terms of revenue and is projected to register increased demand during the forecast period due to growing use of products with lowered calorie level and high nutritional content. Additionally, rising awareness in the consumption of dietary products in Mexico on account of new product launches is anticipated to drive the application scope in the coming years.

Competitive Landscape:

The prominent player operating in the global botanical ingredients market includes PT. INDESSO AROMA, New Directions Aromatics Inc., Bell Flavors & Fragrances, Rutland Biodynamics Ltd., The Herbarie at Stoney Hill Farm, Inc., Lipoid Kosmetik AG, Frutarom Ltd., Ambe Phytoextracts Pvt Ltd., Prakruti Products Pvt. Ltd., and Umalaxmi Organics Pvt. Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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