The global flower extract market size was valued at US$ 2,646.7 Mn in 2021. It is likely to surpass a valuation of US$ 2,773.7 Mn in 2022. The overall demand for flower extract is poised to grow at 5.2% CAGR between 2022 and 2032, totalling around US$ 4,604.9 Mn in 2032.
As per FMI, demand for organic and natural ingredients in skin care and cosmetic products in the U.S is anticipated to drive the demand for flower extract during the forecast period. Natural and organic cosmetics are becoming increasingly popular as people are becoming more conscious of the harmful effect of synthetic chemicals on their skin. This will increase the demand for flower extract which are rich in antioxidants and offer a variety of skin benefits.
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Additionally, in cosmetic skincare formulations, floral extracts are often used as anti-inflammatory ingredients, such as the variety of flowers and plants that can be used in cosmetic skincare products. It includes calendula blossoms, hamamelis bark, marshmallow root, oat straw, yarrow, sage leaves, evening primrose oil, etc.
With brands like Bare Minerals, Dr. Bronner’s, and Trader Joe’s dominating the beauty market with clean product lines. This is likely to drive the demand for flower extract in U.S. Moreover, as people are becoming aware about the harmful side effects of artificial ingredients found in traditional products, shift to natural and organic cosmetic products from traditional one is surging.
Furthermore, with concerns over carcinogens and other toxins present in cosmetic products, eco-conscious shoppers have begun to rely on labels that indicate an absence of toxic substances such as parabens or phthalates. As personal safety becomes more important to buyers, cosmetic brands are increasingly catering to these needs by introducing new products that meet these stringent requirements.
For example, Estee Lauder recently introduced its Pure Color Bloom blush line with 100% natural colorants derived from berries and flowers. Cosmetic companies are now beginning to take responsibility for their environmental footprint as well.
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Key Takeaways from the Flower Extract Market
- The flower extract market in the U.S is expected to register a moderate CAGR during the forecast period.
- The U.S. is set to showcase rapid growth in the flower extract market by the end of 2022.
- The U.S flower extract market is estimated to reach a significant valuation in the next ten years.
- Increasing usage of natural and organic cosmetic products is likely to boost the demand for U.S flower extract market.
“Growing demand for natural and organic cosmetic products in U.S. is expected to drive the sales of flower extracts. Hence, key companies are set to offer customized cosmetics products according to skin types to gain competitive edge.”– Says an FMI Analyst.
Competition Landscape in the Flower Extract Market
Key players in the U.S. flower extract market are introducing unique blend of flavors with natural ingredients to expand their product portfolio. Numerous companies are striving to increase their profitability and remain competitive by delivering personalized skin cosmetic products according to the skin type of the customers.
Sensient technologies corporation, Synergy Flavors, Inc, and Procter & Gamble are the key players in the U. S flower extract market.
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- In November 2021, Sensient released boundless, a series of chili-based extracts, in its flavors & extracts business. Boundless provides a range of chili profiles, including ancho chili, chipotle chili, green jalapeno, habanero chili, and red jalapeño. This will enable the business to satisfy the increasing demand for new tastes.
- In September 2019, Synergy Flavors, Inc., a leading provider of flavors, extracts, and essences to the global food and beverage industry, has introduced Dairy by Nature, a new range of unique flavor solutions.
Flower Extract by Category
By Type, Flower Extract is segmented as:
By Application, Flower Extract is segmented as:
- Food & Beverage
By Form, Flower Extract is segmented as:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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