Key Takeaways
- The global botanical extracts market was valued at USD 4.68 billion in 2022 and is projected to reach USD 7.82 billion by 2030, growing at a CAGR of 6.7% from 2023 to 2030.
- In 2023, the North American botanical extracts market accounted for 32% of global revenue, driven by demand in nutraceuticals.
- The essential oils segment within botanical extracts is expected to grow at a CAGR of 8.2% from 2024 to 2029 due to aromatherapy trends.
- The global production of botanical extracts reached 1.2 million metric tons in 2022.
- India produced 450,000 tons of botanical extracts in 2023, primarily from turmeric and ginger.
- China accounts for 35% of global botanical extract production capacity, with 520,000 tons annually.
- 72% of consumers prefer botanical extracts in personal care products for natural skincare in 2023 survey.
- Demand for CBD botanical extracts surged 45% YoY in North America in 2023.
- 58% of millennials incorporate botanical extracts in daily supplements.
- 75% of EU botanical extracts comply with Novel Food Regulations as of 2023.
- 40% reduction in water usage achieved by sustainable botanical extraction farms in 2023.
- USDA Organic certification held by 28% of U.S. botanical extract producers in 2023.
- BASF holds 12% market share in botanical extracts for cosmetics in 2023.
- Naturex (Givaudan) launched 25 new botanical extracts in 2023 product line.
- Martin Bauer Group supplies 18% of European herbal botanical extracts.
The botanical extracts market is growing rapidly due to strong global demand.
Company and Product Insights
- BASF holds 12% market share in botanical extracts for cosmetics in 2023.
- Naturex (Givaudan) launched 25 new botanical extracts in 2023 product line.
- Martin Bauer Group supplies 18% of European herbal botanical extracts.
- Symrise AG's polyphenol botanical extracts portfolio grew 15% in sales 2023.
- Indena S.p.A. patented 8 new standardized botanical extracts in 2023.
- Kemin Industries expanded ashwagandha extract production by 20% capacity.
- Sabinsa Corporation's Curcumin C3 Complex sold 5,000 tons in 2023.
- Frutarom (IFF) leads with 22% share in flavor botanical extracts.
- Bioforce AG (Weleda) organic echinacea extract output up 10% YoY.
- Pharmachem Laboratories introduced 12 new nootropic botanical blends.
- Nexira's acacia fiber botanical extract used in 300+ products globally.
- Prinova Group distributes 15,000 tons of botanical extracts annually.
- Lipotec (Lubrizol) launched 5 anti-aging botanical peptide extracts.
- Himalaya Wellness exported 2 million units of botanical extract tablets.
- Arjuna Natural's turmeric extract exports reached USD 50 million in 2023.
- 5G mushroom extract blend by Real Mushrooms gained 40% market penetration.
- New botanical extract patents filed increased 25% to 450 in 2023.
- Top 10 companies control 55% of global botanical extracts supply.
Company and Product Insights Interpretation
Consumer Trends and Demand
- 72% of consumers prefer botanical extracts in personal care products for natural skincare in 2023 survey.
- Demand for CBD botanical extracts surged 45% YoY in North America in 2023.
- 58% of millennials incorporate botanical extracts in daily supplements.
- Functional beverages with botanical extracts saw 30% demand increase in 2023.
- 40% rise in online searches for 'botanical extracts for immunity' post-2022.
- Women aged 25-44 represent 55% of botanical extract cosmetic buyers in 2023.
- 67% of health-conscious consumers seek clean-label botanical extracts.
- Turmeric extract demand grew 25% in dietary supplements market in 2023.
- 52% of U.S. consumers willing to pay premium for organic botanical extracts.
- Aromatherapy botanical extracts sales up 18% in e-commerce in 2023.
- 61% preference for full-spectrum botanical extracts over isolates in wellness products.
- Elderberry extract demand spiked 35% during flu season 2023.
- 48% of Gen Z uses botanical extracts for mental health support.
- Sports nutrition segment demand for ashwagandha extracts up 28% in 2023.
- 70% of beauty influencers promote botanical extract serums in 2023.
- Echinacea extract purchases rose 22% among parents for child immunity in 2023.
- 55% growth in subscription boxes featuring botanical extracts in 2023.
Consumer Trends and Demand Interpretation
Market Size and Growth
- The global botanical extracts market was valued at USD 4.68 billion in 2022 and is projected to reach USD 7.82 billion by 2030, growing at a CAGR of 6.7% from 2023 to 2030.
- In 2023, the North American botanical extracts market accounted for 32% of global revenue, driven by demand in nutraceuticals.
- The essential oils segment within botanical extracts is expected to grow at a CAGR of 8.2% from 2024 to 2029 due to aromatherapy trends.
- Asia-Pacific botanical extracts market is forecasted to register the highest CAGR of 7.9% during 2023-2028, led by herbal medicine demand in China and India.
- The global market for plant-based extracts in cosmetics reached USD 1.2 billion in 2022, with a projected CAGR of 5.8% to 2030.
- Botanical extracts for food and beverages segment held 45% market share in 2023 globally.
- Europe botanical extracts market size was USD 1.5 billion in 2022, expected to grow at 6.4% CAGR to 2030.
- The nutraceutical application segment dominated with 38% revenue share in botanical extracts market in 2023.
- Global botanical extracts market CAGR projected at 7.1% from 2023-2032, reaching USD 10.2 billion by 2032.
- Liquid form botanical extracts accounted for 55% of market volume in 2022.
- The global botanical extracts market grew by 5.8% YoY in 2023, reaching USD 5.1 billion.
- Herbal extracts sub-segment is expected to grow fastest at 7.5% CAGR through 2030.
- U.S. botanical extracts market valued at USD 1.4 billion in 2023, with 6.2% CAGR forecast.
- Powdered botanical extracts segment to witness 6.9% CAGR from 2024-2031.
- Latin America botanical extracts market projected to grow at 6.5% CAGR to USD 0.8 billion by 2030.
Market Size and Growth Interpretation
Production and Supply
- The global production of botanical extracts reached 1.2 million metric tons in 2022.
- India produced 450,000 tons of botanical extracts in 2023, primarily from turmeric and ginger.
- China accounts for 35% of global botanical extract production capacity, with 520,000 tons annually.
- Essential oil extraction from botanicals yielded 250,000 tons worldwide in 2023.
- Supercritical CO2 extraction method used for 28% of botanical extracts production in Europe in 2022.
- Brazil's botanical extracts output from Amazon plants reached 120,000 tons in 2023.
- Organic botanical extracts production grew to 180,000 tons globally in 2023, up 12% YoY.
- Solvent extraction dominates with 60% share in botanical extracts manufacturing processes.
- U.S. production of ginseng extracts totaled 15,000 tons in 2022.
- Steam distillation accounts for 42% of essential botanical extracts production volume.
- Global supply of green tea extracts reached 80,000 tons in 2023.
- France produced 25,000 tons of lavender extracts in 2023 harvest season.
- Ultrasonic extraction technology adopted in 15% of new botanical plants by 2023.
- Australia's eucalyptus extract production hit 18,000 tons in 2022.
- Microwave-assisted extraction used for 22% of polyphenol-rich botanical extracts in Asia.
- 65% of botanical extracts are derived from leaves, followed by roots at 20% in 2023 production.
Production and Supply Interpretation
Regulatory and Sustainability
- 75% of EU botanical extracts comply with Novel Food Regulations as of 2023.
- 40% reduction in water usage achieved by sustainable botanical extraction farms in 2023.
- USDA Organic certification held by 28% of U.S. botanical extract producers in 2023.
- EU REACH regulations impact 65% of imported botanical extracts supply chain.
- Fair Trade certified botanical extracts increased to 15% market share in 2023.
- 32% of global botanical farms adopted regenerative agriculture by 2023.
- FDA GRAS status granted to 120 new botanical extracts since 2020.
- Carbon footprint of botanical extracts production down 18% with green tech in 2023.
- 50% of Chinese botanical exports meet EU pesticide residue limits in 2023 audits.
- Rainforest Alliance certification covers 22% of tropical botanical extract sources.
- 27% increase in blockchain-tracked sustainable botanical supply chains in 2023.
- WHO guidelines followed by 80% of herbal botanical extract manufacturers globally.
- Zero-waste extraction processes implemented in 12% of EU facilities by 2023.
- 45% of botanical extracts tested positive for heavy metals below safe limits in 2023.
- Biodiversity impact assessments required for 35% of new botanical extract approvals.
- Non-GMO verified botanical extracts rose to 60% in North American market.
Regulatory and Sustainability Interpretation
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