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How Will the Botanical Extracts Market Grow Over the Forecast Period Based on Its Expected CAGR?

The market for botanical extracts has seen robust growth in recent years. The market value is projected to rise from $7.07 billion in 2024 to $7.72 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.2%. Factors such as traditional medicinal practices, cultural usage, trade and exploration routes, along with supportive government policies have contributed to the growth observed in the historical period.

The market size for botanical extracts is anticipated to witness a swift expansion in the coming years. It is projected to rise to a value of $11.63 billion by 2029, with a compound annual growth rate (CAGR) of 10.8%. The surge during the forecast period can be credited to increased health consciousness, escalating demand for functional foods and drinks, the upswing in demand for plant-based items, the growing fame of herbal supplements, and an increase in disposable income. Significant trends for the forecast period encompass research and development activities, innovative products, mergers and acquisitions, as well as government policies.

What Industry-Specific Factors Are Fueling the Growth of the botanical extracts Market?

The botanical extracts market is likely to see an uptick due to the escalating demand for convenience food products. Tertiary processed food, otherwise known as ready-to-eat processed food, falls under the category of convenience food. These food items often employ plant extracts to augment their color and flavor, especially in the case of high-fat and ready-to-eat delicacies like meat. Botanical extracts, rich in medical properties, are employed in the food industry to bestow health benefits. Consequently, the burgeoning demand for convenience foods hints towards a growing trend for the botanical extracts market. For example, in 2022, the Economic Research Service of U.S. Department Of Agriculture, a government agency in the US, reported that U.S. consumers allocated an average of 11.3% of their total food expenditures towards food consumed outside their homes. Therefore, it’s evident that the rising demand for convenience food products fuels the expansion of the botanical extracts market.

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Who Are the Dominant Players Expanding Their Reach in the Botanical Extracts Market?

Major companies operating in the botanical extracts market include:

• International Flavors & Fragrances Inc._x000D_

• Himalaya Herbal Healthcare_x000D_

• Blue Sky Botanics Ltd._x000D_

• Naturex_x000D_

• Synthite Industries Ltd._x000D_

What Are the Top Trends Shaping the Evolution of the Botanical Extracts Market?

The botanical extracts market is increasingly witnessing product innovation as a trending aspect. Major industry players are focusing on creating extracts that offer enhanced bioavailability. A case in point is the China-based manufacturer, Layn Natural Ingredients, which in September 2022 introduced bio Quercitrin – a highly bioavailable version of Quercetin for nutraceutical applications. The key features distinguishing bio+Quercitrin include its potent antioxidant flavonoid properties, which help combat free radicals and mitigate oxidative stress. Attached to a ribose molecule, Layn’s bio Quercetin has proven to be six times more absorbable and permeable in the small intestine compared to its traditional counterpart. Layn bio+Quercetin, apart from being a substitute for ordinary Quercetin, provides a stable, soluble, and bioavailable version, making it an effective solution both as an individual supplement or as an active ingredient in human and pet health formulas.

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How Are the Key Segments of the Botanical Extracts Market Driving Opportunities and Innovations?

The botanical extracts market covered in this report is segmented –

1) By Technology: CO2 Extraction, Solvent Extraction, Steam Distillation, Enfleurage, Other Technologies

2) By Source: Spices, Herbs, Flowers, Leaves, Other Sources

3) By Form: Liquid, Powder, Semi-Solid

4) By Application: Food And Beverages, Pharmaceutical And Nutraceutical, Cosmetics

Subsegments:

1) By CO2 Extraction: Supercritical CO2 Extraction, Subcritical CO2 Extraction

2) By Solvent Extraction: Ethanol Extraction, Hexane Extraction, Other Solvent-Based Methods

3) By Steam Distillation: Traditional Steam Distillation, Water Distillation

4) By Enfleurage: Cold Enfleurage, Hot Enfleurage

5) By Other Technologies: Microwave-Assisted Extraction, Ultrasound-Assisted Extraction, Cold Press Extraction

Which Regions Are Setting the Pace for Botanical Extracts Market Growth?

North America was the largest region in the botanical extracts market share in 2024. The regions covered in the botanical extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Defines the Scope of the Botanical Extracts Market?

Botanical extracts refer to plant materials with concentrated therapeutic properties. They are obtained after extracting a botanical raw material consisting of one or more botanicals properties with a solvent. These are used as ingredients in dietary supplements.

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