Botanical Ingredients Market to be Worth US$ 331.9 Bn by 2032 - FMI

The global botanical ingredients market is set to witness growth at a CAGR of 7.3% and top a valuation of US$ 331.9 Bn by 2032.

The botanical ingredients manufacturers offer a plethora of opportunities for businesses. Due to the new clean label and sustainable product trends, it is an excellent position for both brands and formulators to advertise products based on botanical ingredients as a unique and innovative created item.

Demand for botanical extract is expected to grow significantly over the forecast period, owing to their numerous health benefits and potential to function as an alternative to contemporary medication.

Increased awareness of the advantages of herbal goods versus synthetic products, and rising demand from food and other uses, are all expected to improve botanical ingredients sales. Brands like Botanical Ingredients Ltd. are supplying products to the Australian food industry with 100% pure and organic botanical ingredients sourced from Australia and the EU.

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Botanical ingredients brands, such as Euroma, work on tasty concepts while manufacturing premium botanical ingredients using the best herbs and spices, from a complex seasoning to the most suitable pepper, or even a ready-to-use consumer product.

In the United States, a new generation of science-based and standardized functional botanical ingredients are developing from edible plants for use in cosmetics and dietary supplements.

Key Takeaways from Market Study

The botanical ingredients market sales are worth US$ 164.1 Bn in 2022.

The botanical ingredients market is expected to expand at a CAGR of 7.3% through 2032.

Global botanical ingredients demand is projected to grow year-on-year (Y-o-Y) growth of 7.0% in 2022.

The botanical ingredients market is growing, with a notable boost towards the production to reach USD 331.9 Bn by 2032.

Organic and natural raw materials, sustainable product sourcing, and improved cleaner label products are the influencing factors among consumers, which is driving sales of botanical ingredients across global markets.

Demand for botanical ingredients grew at 6.6% CAGR between 2017 and 2021.

Herbs & spices segment, liquid plant extract segment, and commercial chain segment of botanical ingredients are in heavy demand from the food and beverages industry, carrying a notable botanical ingredients market share.

"Botanical ingredients can be a benefit to any food, beverages, cosmetics, or pharmaceutical formulation depending on the product application, as manufacturers now have a huge opportunity to meet consumer demand, highlighting botanical ingredients and using plant-based options, while brands need to pair exotic botanical ingredients with familiar formulations to create reassuring yet unique products that consumers will surely want to try," says a Future Market Insights analyst.

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Competitive Landscape

Key Botanical Ingredients Brands are focusing on sustainable and organic product developments, while extending the product portfolio with extensive research procedures and several modifications to capture more botanical ingredients market share in the global arena and to further boost the industry growth.

Archer Daniels Midland Company, International Flavors & Fragrances, Inc, Koninklijke DSM NV, Martin Bauer Group, and Bell Flavors & Fragrances are expected to be the top players in the botanical ingredients market.

Kerry, an Ireland-based ingredients company, announced the debut of a new line of ingredients called Botanicals Collection ZERO,' which includes a broad selection of alcohol-free botanical extracts specifically intended for no- or low-alcohol beverages. There are 50 goods in total in the product portfolio, including origins such as rosebud, juniper, chocolate, elderflower, cinnamon, turmeric, and more.

Layn Natural Ingredients announced an increase in botanical extracts in August 2021, including citrus, apple, ginger, GallaChinensis, green coffee bean, magnolia bark, green tea, pu'erh tea, pomegranate, Sophora japonica, and rosemary, all of which are non-GMO project certified. The entire line is centered on polyphenol-rich botanical extracts that provide extraordinary functional benefits in sports nutrition, nutritional supplements, and the food and beverage industry.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global botanical ingredients market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Botanical Ingredients Market by Category

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
Europe
East Asia
South Asia
Oceania
Middle East & Africa

Key Questions Answered in the Report

How Much Worth is the Botanical Ingredients Market?
What is the CAGR of the Botanical Ingredients Market Through 2032?
What is the Historical Outlook of the Botanical Ingredients Market?
What Is The Projected Market For Botanical Ingredients Worth In 2032?
Who Are The Key Players Operating In The Market?
Which Are The Top Countries Driving The Botanical Ingredients Demand?
What Are The Key Factors Driving The Botanical Ingredients Market Growth?

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About Future Market Insights (FMI)
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.

This release was published on openPR.