The global botanical ingredient market is slated to progress at a CAGR of 7.3%. This will elevate the market size from US$ 185.91 billion to US$ 374.84 billion from 2024 to 2034. The growing healthcare, cosmetic, and food and beverage markets leverage the demand for botanical ingredients.

Consumer habits are evolving, which is driving the demand for environmentally friendly goods. Furthermore, the desire for healthy products from customers is fueling the creation of botanical ingredients. As a result, the demand for natural food ingredients grows. The market for botanical substances will rise as distribution networks become more robust and diverse. Customers may have more options, which will improve the natural food ingredient market’s growth prospects.

Leading producers of botanical ingredients are helped by expanding technological infrastructure to create novel and sustainable botanical substances. Customers will have more options as a result, propelling the demand for plant-based ingredients. Another significant mainstream driver for the market for botanical ingredients will be the increased concern for sustainability.

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Key Takeaways from the Market Study

  • From 2019 to 2023, the market for botanical ingredients advanced at a 6% CAGR.
  • The Indian botanical ingredient market growth will be the fastest, which projects the highest CAGR of 7.1%.
  • The United States of America is the largest market by size, estimating the advancement at a CAGR of 4.4%.
  • Liquid plant extract is the largest segment based on form, securing 26.5% of the market space.

“Synthetic products can be perfect substitutes for organic products, which can be a serious restraint for the botanical ingredient market,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Competitive Landscape of the Botanical Ingredient Market

Leading botanical ingredient manufacturers occupy a large market space, hindering new entrants’ entry path. However, new entrants might enhance their market presence through effective brand positioning.

Key marketers use product launches, partnerships, collaborations, acquisitions, and alliances to maintain their competitive advantage in the market. The following key developments have changed the competitive landscape:-

  • In August 2022, Archer Daniels Midland Company partnered with New Culture. The strategic move intended to uplift dairy production. Also, the organization focused on innovating products and commercializing them.
  • In May 2023, International Flavors & Fragrances Inc. initiated and completed a divestiture of its Savory Solutions business unit to PAI Partners. This helped the organization eliminate its liabilities and assets, leveraging free cash flow.

Key Companies Profiled

  • Archer Daniels Midland Company
  • International Flavors& Fragrances Inc.
  • Koninklijke DSM NV
  • Martin Bauer Group
  • Bell Flavors & Fragrances
  • Givaudan
  • Döhler GmbH
  • Koninklijke Euroma BV
  • Botanical Ingredients Ltd.
  • Nutrasorb LLC.

More Valuable Insights Available

Future Market Insights offers an unbiased global botanical ingredient market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

The market is segmented by Ingredient (Herbs & Spices, Vegetables & Fruits, Flowers, Leaves, Seeds & Nuts, Barks & berries, Bulbs & Roots, and Others), Form (Dried Plants, Liquid Plant Extract, Oleoresins, and Others), End User (Commercial Chains and Residential Uses), Application (Food & Beverages, Nutraceuticals & Dietary Supplements, Pet Care Industry, Pharmaceuticals, Cosmetics and Personal Care, Commercial Households, and Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

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Key Segments Profiled

By Ingredient:

  • Herbs & Spices
  • Vegetables & Fruits
  • Flowers
  • Leaves
  • Seeds & Nuts
  • Barks & berries
  • Bulbs & Roots
  • Others

By Form:

  • Dried Plants
  • Liquid Plant Extract
  • Oleoresins
  • Others

By End User:

  • Commercial Chains
  • Residential Uses

By Application:

  • Food & Beverages
  • Nutraceuticals & Dietary Supplements
  • Pet Care Industry
  • Pharmaceuticals
  • Cosmetics and Personal Care
  • Commercial Households
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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