Press release
Botanicals Market to Reach USD 191.4 Billion by 2030
Botanicals
Botanicals include herbal extracts, plant-derived compounds, essential oils, dried herbs, phytochemicals, and natural bioactives-widely used across nutraceuticals, cosmetics, functional foods, pharmaceuticals, and wellness products.
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Key Takeaways
• Market Size 2023: USD 117.9 billion
• Market Size 2030: USD 191.4 billion
• CAGR (2024-2030): 7.1%
• Top Growth Driver: Rising demand for plant-based nutrition and immunity-boosting herbal supplements.
• Largest User Industry: Nutraceuticals.
Market Story
Botanicals are gaining mainstream adoption globally as consumers seek natural, chemical-free, and sustainable wellness solutions. Key trends reshaping the market include:
• Clean-label food and beverage formulations
• Growing preference for herbal immunity boosters
• Rise of Ayurvedic, Traditional Chinese Medicine (TCM), and functional plant extracts
• Plant-based pharmaceuticals & natural therapeutic compounds
• Herbal skincare & organic cosmetics
• Consumer focus on preventive health
Botanical ingredients are increasingly incorporated into:
• Nutritional supplements
• Herbal teas & beverages
• Functional foods
• Personal care products
• Natural medicines
• Aromatherapy & essential oils
• Sports nutrition
• Weight management formulas
The wellness economy's rapid growth-powered by fitness culture, healthy aging, and natural therapies-is boosting long-term demand.
Market Segments
By Source
• Herbs (Largest Segment)
• Spices
• Flowers
• Leaves & Stems
• Roots & Rhizomes
• Barks & Fruits
• Seeds
Herbal and spice-derived botanicals dominate due to wide applications in supplements and food products.
By Product Type
• Herbal Extracts
• Essential Oils
• Plant Phytochemicals
• Dried Herbs / Powdered Botanicals
• Plant-Based Bioactive Compounds
• Oleoresins & Tinctures
Herbal extracts and phytochemicals are leading segments used in nutraceutical and pharmaceutical formulations.
By Application
• Nutraceuticals
• Food & Beverages
• Cosmetics & Personal Care
• Pharmaceuticals
• Aromatherapy
• Functional Pet Nutrition
• Sports Nutrition
Cosmetics and skincare are emerging high-growth areas due to consumer demand for natural, anti-aging ingredients.
By Distribution Channel
• B2B (Bulk Ingredient Supply)
• B2C (Retail Supplements & Wellness Products)
• Online Retail / E-Commerce
• Specialty Wellness Stores
• Pharmacies & Health Stores
Online retail is the fastest-growing channel as consumers shift to digital wellness shopping.
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Recent Industry Developments
• 2024 - Givaudan expanded its portfolio of botanical actives for clean-beauty formulations.
• 2023 - Archer Daniels Midland (ADM) launched new plant-based extracts for functional beverages.
• 2023 - Kerry Group introduced botanical health ingredients targeting immunity and stress relief.
• 2023 - Sabinsa scaled production of standardized herbal extracts for nutraceuticals.
• 2023 - Naturex (Givaudan) enhanced supply chain transparency for sustainably sourced botanicals.
Expert Quote
"The botanicals market is thriving as consumers shift toward natural wellness and clean-label living. Herbal extracts and plant-based actives are becoming foundational ingredients across supplements, foods, cosmetics, and therapeutic formulations."
- Irfan Tamboli, Business Development Executive, Exactitude Consultancy
Key Market Drivers
1. Rising Demand for Natural Wellness Products
Consumers are choosing herbal supplements and therapeutic botanicals for immunity, stress management, and healthy aging.
2. Rapid Growth of Nutraceuticals
Botanicals are key ingredients in global formulations.
3. Clean-Label and Organic Consumer Trends
Food and beauty brands are replacing synthetic chemicals with plant-derived alternatives.
4. Increased Use of Herbal Ingredients in Skincare
Botanical actives such as aloe, turmeric, licorice, and green tea are widely used in natural cosmetics.
5. Growing Acceptance of Traditional Systems of Medicine
Ayurveda, TCM, and herbal therapies continue to gain global recognition.
Forecast Outlook (2024-2030)
Key trends shaping future growth include:
• Expansion of functional beverages with botanical infusions
• AI-driven discovery of plant bioactives
• Sustainability and traceability in botanical sourcing
• Growth of botanical-based pharmaceuticals
• Personalized herbal supplements
By 2030, botanicals will play a central role in the global natural wellness and functional nutrition industry.
Regional Insights
North America
Largest market driven by growing natural supplement consumption and clean-label cosmetics.
Europe
Strong demand for organic botanicals, plant-based medicinal extracts, and herbal wellness products.
Asia-Pacific (Fastest Growing Region)
High adoption due to Ayurveda, TCM, and herb-based formulations in India, China, Japan, and Southeast Asia.
Latin America & Middle East
Rising use of herbal teas, organic cosmetics, and botanical-infused beverages.
Conclusion
The Botanicals Market is set for strong and steady growth as plant-based, natural ingredients become central to global wellness, nutrition, and beauty industries. Rising consumer awareness, herbal medicine adoption, and clean-label trends will continue to boost demand through 2030.
This report is also available in the following languages : Japanese (ボタニカルズマーケット), Korean (식물성 시장), Chinese (植物市场), French (Marché des produits botaniques), German (Botanikmarkt), and Italian (Mercato dei prodotti botanici), etc.
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About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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https://exactitudeconsultancy.com/
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EMAIL ADDRESS: sales@exactitudeconsultancy.com
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