Botanicals Market by Source (Bark, Flowers, Leaves), Extracted Form (Liquid, Powder), Application, Distribution Channel - Global Forecast 2024-2030

Botanicals Market by Source (Bark, Flowers, Leaves), Extracted Form (Liquid, Powder), Application, Distribution Channel - Global Forecast 2024-2030

The Botanicals Market size was estimated at USD 46.27 billion in 2023 and expected to reach USD 49.40 billion in 2024, at a CAGR 7.35% to reach USD 76.05 billion by 2030.

A botanical is a plant or part of a plant that is used worldwide due to its therapeutic properties, flavor, and scent. Botanicals contain a wide range of bioactive compounds, including phytochemicals, essential oils, antioxidants, vitamins, and minerals. These compounds can contribute to therapeutic and health-promoting properties when consumed by individuals. Botanicals are commonly used in traditional medicine, dietary supplements, skincare and cosmetic products, aromatherapy, and culinary applications. Increasing health consciousness among people has boosted the demand for natural therapeutics derived from plants. The growing popularity of herbal supplements and nutraceuticals is expanding the use of botanicals to support specific health needs. However, product adulteration and mislabeling of products may adversely impact the adoption of botanicals. Additionally, ongoing research to expand the applications of botanicals is expected to encourage the use of botanicals across end-use sectors worldwide.

Regional Insights

The Americas region has experienced significant growth in the botanicals market owing to the increasing consumer preference for plant-based ingredients and growing awareness about the potential health benefits associated with botanicals. Stringent regulatory policies by the government related to synthetic additives in food products have prompted food manufacturers in the Americas to adopt natural alternatives such as botanical extracts. The botanicals market is highly developing in the Asia-Pacific region due to the emphasis on the production of traditional medicines and remedies and the increasing availability of various botanical sources in the region. The government in the APAC region has implemented various initiatives to promote sustainable cultivation and processing of herbs through Good Agricultural Practices (GAP) and Good Manufacturing Practices (GMP). The EMEA region represents a growing botanicals market due to the increasing applications of botanicals in pharmaceuticals, nutraceuticals, cosmetics, and food & beverages sectors. Additionally, the ongoing investments and funding to increase research and development of botanical products are expected to expand the applications of bottles across the end-use sectors across the globe.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Botanicals Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing adoption of botanicals as dietary and functional supplements
    • Rising inclination of consumers toward aromatherapy and use of essential oils
    • Increasing consumer awareness and adoption of botanical-derived personal care products
    • Market Restraints
      • High cost of extraction and development of botanicals
      • Market Opportunities
        • Emerging use of botanicals in animal nutrition products
        • Rise in the number of approvals for botanical products coupled with availability on the eCommerce platform
        • Market Challenges
          • Concerns associated with product adulteration and mislabeling in botanicals
          • Market Segmentation Analysis
            • Source: Increasing consumer consciousness about botanical sources
            • Extracted Form: Significance of forms of botanicals
            • Application: Diverse applications of botanicals across end-user industries
            • Distribution Channel: channels catering to different needs and preferences of customers,
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Botanicals Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Botanicals Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • ButACake and Azuca Join Forces to Launch Hibiscus Elixir in Delaware’s Medical Market
              
              Azuca, a provider of advanced formulations, has joined forces with ButACake to introduce a new infused product, the Hibiscus Elixir. This collaboration signifies a significant milestone for Azuca, as it represents the debut of their revolutionary RTD ACTiVATOR technology in a product. The Hibiscus Elixir, which contains top-notch cannabis sourced from Columbia Care, can be available in the Delaware medical market.
              
              Cannabis Firm Botanica Raises USD 9 million Series B Funding to Fuel Expansion of Leading Infused Edibles, Beverage Brands
              
              Botanica secured a strategic investment from a number of reputed institutional cannabis investors. The Series B funding round, totaling USD 9 million, was led by KEY Investment Partners and GreenAxs Capital, with participation from Entourage Effect Capital and AFI Capital Partners. This funding is aimed to expand their market share in existing states and accelerate their multistate expansion plans.
              
              Nektium Expands International Distribution Network for Botanical Extracts
              
              Nektium, a Spain-based company specializing in botanical extracts, formed three new global distribution partnerships. Deimos, a specialist in food ingredients and nutraceuticals, has been selected as the distributor for Nektium's portfolio in Italy and San Marino. These agreements are part of Nektium's long-term strategy to expand its sales worldwide, demonstrating its commitment to global growth.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Botanicals Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Botanicals Market, highlighting leading vendors and their innovative profiles. These include ABOCA S.p.A., Amanprana by Mannavita, Ambe Phytoextracts Pvt. Ltd., Amway Corporation, Archer-Daniels-Midland Company, Arla Foods Group, Ayana Bio, LLC, BASF SE, Beijing Gingko Group, Bell Flavors & Fragrances GmbH, Berje Inc., BIOFLORAL INC., Blue Sky Botanics Ltd., Botanic Healthcare Group, Cargill, Incorporated, Dermapharm Holding SE, Dohler GmbH, Erba Vita Group S.p.A., fytobell.be, GNC Holdings, LLC, GROUPE LÉA NATURE, Himalaya Global Holdings Ltd., International Flavors & Fragrances, Inc., Kalsec, Inc., Kerry Group plc, Koninklijke DSM N.V., Kuber Impex Ltd., L' Angelica Herbal Institute, L'Herbier du Diois, Ladrôme Laboratoire, LAPHT Phytofrance Laboratory, Leaven Essentials Pvt Ltd, Les Relais de Florame, Lipoid Kosmetik AG, MB-Holding GmbH & Co. KG, Natura Health Products, Naturex SA by Givaudan International SA, NOW Health Group, Inc., Nutra Green Biotechnology Co., Ltd., Ortis AG-SA-NV, P.T Indesso Aroma, Palais des Thés, Phytonorm, Pierre Fabre S.A., Prakruti Products Pvt. Ltd., Pranarôm International, Prinova Group LLC, PT. Haldin Pacific Semesta, Ransom Naturals Ltd., Rutland Biodynamics Ltd., Symrise AG, Synergy Flavors, Inc., Synthite Industries Ltd., Tate & Lyle PLC, The Herbarie at Stoney Hill Farm Inc., True Botanicals, Inc., Umalaxmi Organics Pvt. Ltd., and Volunteer Botanicals.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Botanicals Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Source
              • Bark
              • Flowers
              • Leaves
              • Roots
              • Seeds
              • Twigs
              • Extracted Form
                • Liquid
                • Powder
                • Application
                  • Aromatherapy & Essential Oils
                  • Cosmeceuticals & Personal Care
                  • Flavorings & Fragrances
                  • Functional Foods & Beverages
                    • Energy Drinks
                    • Functional Juices
                    • Sauce & Dressing
                    • Sports Drinks
                    • Homeopathic Remedies
                    • Nutraceuticals & Dietary Supplements
                    • Pharmaceuticals & Medicinal
                      • Cardiovascular Health
                      • Digestive Health
                      • Immune Support
                      • Stress Management and Relaxation
                      • Weight Management
                      • Distribution Channel
                        • Business-to-Business
                        • Business-to-Consumer
                          • Offline
                          • Online
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year