Botanical Extracts Market Size, Scope Demand Opportunities 2022
The global botanical extracts market size was valued at USD x billion in 2021 and is poised to grow at a significant CAGR of 9.3% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Botanical Extracts Market: By Source (Herbs, Tea Leaves, Flowers and Spices), By Form (Liquid and Powder), By Application (Food, Sauces, Bakery & Confectionery, Beverages, Carbonated soft drinks, Alcoholic beverages, Flavored Dairy products, Pharmaceutical, Cosmetic & personal care and Others) and Geography (North America, Latin America, Europe, Middle East and Africa, Asia Pacific) -Global/Region/Country Forecast to 2028.
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Growing awareness and health related problems among customers boost the Botanical Extracts Market:
This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. Botanical extracts are used to manufacture beer and wine. Botanical extracts are comparatively becoming important flavor in the food industry because of their antimicrobial and antioxidant abilities which interpret the development of off-flavors and augment the color stability in ready-to-eat meat products. Huge demand for new beer flavors increased the need for botanical extracts as functional beer additives. It is also found its application in carbonated soft drinks, pharmaceutical, carbonated soft drinks, sauces, bakery & confectionery, cosmetic and personal care products. Moreover, increasing application of botanical extracts in the beverage industry is the major market trend. It offers a unique opportunity to offer emotive concepts and claims and really drive the value of cleaning formulations. A few of the major factors enhancing the growth of market are the growing demand for long shelf life of botanical extracts and convenience food, increase in the consciousness about the side-effects of synthetic flavors, growing consciousness and health related problems amid customers and increase in the application of botanical extracts. But, the availability of substitutes and varying costs of spices and herbs are the factors hinder the growth of market.
Asia Pacific accounted for major share in the Botanical Extracts Market:
This market report provides a complete outlook on botanical extracts around the globe with special focus on the major regions such as Europe, Asia Pacific, North America, Latin America, Middle East and Africa. Among these regions, Asia Pacific got larger revenue share in the market with significant CAGR rate. This region is witnessing the growth because of the shift in customer preference towards natural products, increase in the concerns regarding healthy lifestyles and growing demand for organic processed food and beverages. India and China are the major countries greatly contribute towards the market growth in this region due to the fast economic growth. North America witnessed considerable market share during the evaluation time span as several major players favor towards natural herb products.
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Competitive Analysis - Botanical Extracts Market
Key players operating in the botanical extracts market are Frutarom Industries Ltd., Blue Sky Botanics Ltd, Indesso Aroma, Synergy Flavors and Kalsec Inc. Key players in the market focus on adopting new strategies to enhance their product offering.
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