According to a new market report published by Lucintel, future of the botanical extract market looks promising with opportunities in food, beverages, cosmetics, and pharmaceuticals. The global botanical extract market is expected to grow with a CAGR of 8%-9% from 2020 to 2025. The major drivers for this market are increasing consumer awareness on health and wellness products, rising demand of natural flavors in food applications, and preference for natural health products.
In this market, spices, herbs, flowers and tea leaves are the major sources of botanical extract. Lucintel forecasts that spices is anticipated to be the largest segment over the forecast period due to changing lifestyles and trend of exploring and experiencing new foods have led to the growth in the demand for spices. Based on form, the botanical extract market is segmented into powder and liquid
Within this market, food, beverages, cosmetics, and pharmaceuticals are the major applications of botanical extract. Food is expected to be the largest segment over the forecast period due to high demand for bakery and confectionery products, along with the increase in preferences for natural flavoring agents.
Asia Pacific will be the fastest growing region over the forecast period due to consumer preference towards natural products and increasing concerns about healthy lifestyles.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global botanical extract market by source, form, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Botanical Extract Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global botanical extract market by source, form, application, and region as follows:
By Source [Value ($ Million) shipment analysis for 2014 – 2025]:
Spices
Herbs
Flowers
Tea Leaves
By Form [Value ($ Million) shipment analysis for 2014 – 2025]:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food
Beverages
Cosmetics
Pharmaceuticals
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
German
France
Spain
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.