Botanical Extracts Market Size By Source (Flowers, Herbs, Fruits, Spices, Tea Leaves, Others), By Form (Powder, Liquid), By Application (Cosmetics & Skincare, Pharmaceutical, Food & Beverages, Others), Industry Analysis Report, Regional Outlook, Growth Po

Botanical Extracts Market Size By Source (Flowers, Herbs, Fruits, Spices, Tea Leaves, Others), By Form (Powder, Liquid), By Application (Cosmetics & Skincare, Pharmaceutical, Food & Beverages, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2030

The global botanical extracts market is likely to exhibit significant growth trends and account for a sizeable valuation by 2030, driven by the integration of new extraction techniques to deliver products in highly concentrated and natural forms.

The players in the market have been emphasizing on employing extraction methods that, while ensuring significant commercial growth, support environmental sustainability. For instance, in September 2022, PLT innovation partner Nektium Pharma rolled out a cultivation program and announced that it would start offering its Rhodiolife Rhodiola rosea ingredient derived from a cultivated source of root materials.

The program aims to achieve a phytochemical and physical profile comparable to formerly supplied wildcrafted material. It will also address issues that turn up with all wildcrafted botanicals periodically, including the security of supply, harvest size, sustainability, and the phytochemical composition of wild-harvested materials.

The botanical extracts market is categorized on the basis of source, form, application, and region.

In terms of source, the tea leaves segment is projected to surpass USD 2 billion by 2030. Tea leaf botanical extracts offer a spectrum of benefits ranging from regulating blood pressure, supporting digestive health, and improving metabolic functions to soothing inflammation, and protecting the skin from sun exposure. The proven benefits of botanical extracts sourced from tea leaves in promoting weight loss and enhancing mental alertness may open new growth avenues for the industry.

With respect to form, the liquid botanical extracts market segment is likely to depict a strong CAGR throughout the forecast period and record a sizeable valuation by 2030. Liquid herbal extracts are versatile, simple to make, easy to consume, and have greater potency than the other forms. They are easily and rapidly absorbed, utilized, and digested by the body, thus ensuring immediate benefits post-consumption. Besides, the higher concentration of antioxidants and other potential ingredients compared to original herbs and other forms of extracts may propel liquid botanical extracts sales over the coming years.

Regarding applications, the others segment is expected to exhibit over 5.5% CAGR during the forecast period and record a valuation worth USD 500 million by 2030. The increasing utilization of botanical extracts in manufacturing several products, including fabric detergents, dishwashers, fabric conditioners, tissues, and air care products, will drive the segment expansion in the foreseeable future. These extracts offer emotive notes to different cleaning formulations and improve their performance.

Regionally, the Middle East & Africa botanical extracts industry was worth USD 100 million in 2021 and is projected to cross USD 200 million by 2030. The escalating R&D efforts by regional pharmaceutical companies to study problems related to modern medicine such as antimicrobial resistance and find an effective cure for diseases such as cancer will fuel the regional industry. In addition, the proliferating F&B sector and growing health awareness will drive product demand across the MEA region.