Cosmetic botanical extracts are plant extracts used in cosmetic products like oils, creams, lotions, and serums. They are widely used in anti-aging creams for their antioxidant properties and ability to hydrate and nourish the skin. Common botanical extracts in cosmetics include aloe vera, chamomile, green tea, and grapeseed.

The global cosmetic botanical extracts market is estimated to be valued at US$ 2.72 Bn in 2024 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of the cosmetic botanical extracts market is the increasing demand for natural and organic skincare ingredients. Consumers are more aware now of the benefits of botanical extracts in skincare and their link to fewer side effects compared to synthetic ingredients. This is driving many cosmetic brands to incorporate more plant-based ingredients in their products. Chamomile and aloe vera extracts in particular are widely used in moisturizers and serums for their soothing and hydrating properties.

Additionally, green tea, grapeseed, and ginseng extracts are popular ingredients in anti-aging creams due to their high antioxidant content which protects skin from environmental damage. The growing aging population worldwide is another factor fueling the demand. Rising disposable incomes in developing regions like Asia Pacific are also supporting the uptake of premium natural skincare brands using cosmetic botanical extracts.

SWOT ANALYSIS

Strength: The cosmetic botanical extracts market is expected to grow at a CAGR of 9.4% from 2024-2031. Botanical extracts provide advantages like natural appeal, antioxidant properties, anti-aging benefits, and skin nourishment. Their use leads to development of effective and safe cosmetic products. They have vast applications in skincare, haircare, makeup, fragrances and other beauty products.

Weakness: Reliance on agricultural produce makes the supply chain vulnerable to climate changes and other uncertainties. Variations in quality and composition of extracts can occur depending on geographical conditions. Strict regulations and certification process increases complexity and costs for market players.

Opportunity: Growing preference of consumers towards natural and plant-based ingredients is driving demand. Wide scope of new product development exists with incorporation of novel botanical extracts. Emerging markets across Asia Pacific and Latin America are opening new avenues for sales. Innovation in delivery systems can improve efficacy and widen range of applications.

Threats: Availability of synthetic substitutes poses competition. Supply disruptions and trade barriers can impact raw material procurement. Changing consumer preferences and economic slowdowns can temporarily dampen demand. Stringent environmental and social compliance norms necessitate sustainable practices.

Key Takeaways

The global cosmetic botanical extracts market is expected to witness high growth at a CAGR of 9.4% between 2024-2031 driven by the growing demand for natural ingredients in cosmetics. The market size was valued at US$ 2.72 billion in 2024 and is projected to reach US$ 5.38 billion by 2031.

Regional analysis: North America dominates accounting for over 35% share of the global market supported by increasing expenditure on personal care. Asia Pacific is projected to be the fastest growing region expanding at a CAGR of 11% due to rising disposable incomes, growing middle class and their increasing preference for herbal cosmetics.

Key players: Key players operating in the cosmetic botanical extracts market are Sanofi SA, Pfizer Inc., Novavax Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline PLC, Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., AstraZeneca, and Takeda Pharmaceutical Company Limited, among others.

Get more insights on this topic: https://www.trendingwebwire.com/cosmetic-botanical-extracts-market-size-and-outlook/