Global Botanicals Market Size study, by Source, by Extracted Form, by Application, by Distribution Channel and Regional Forecasts 2022-2032

Global Botanicals Market is valued at approximately USD 46.27 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.35% over the forecast period 2024-2032. Botanicals, derived from plants, encompass a variety of products rich in bioactive compounds such as phytochemicals, essential oils, antioxidants, vitamins, and minerals. These natural ingredients offer therapeutic benefits, making them popular in traditional medicine, dietary supplements, skincare products, aromatherapy, and culinary uses. The increasing health consciousness among consumers has spurred demand for natural therapeutic solutions derived from botanicals. The rising trend of herbal supplements and nutraceuticals further expands the market as individuals seek plant-based alternatives to support health and wellness. However, challenges such as product adulteration and mislabeling can hamper market growth. Despite these challenges, ongoing research and development efforts to broaden the applications of botanicals are expected to drive market expansion across various end-use sectors globally.

The market is segmented based on sources, including bark, flowers, leaves, roots, seeds, and twigs. Bark, rich in tannins and flavonoids, is in high demand for traditional medicine and supplements. Flowers, known for their aromatic and therapeutic properties, are widely used in cosmetics. Leaves, containing essential oils with potent biological activities, find applications in food & beverages, pharmaceuticals, and cosmetics. Roots, seeds, and twigs are also significant sources due to their diverse applications in herbal medicine and health supplements.

Botanicals are available in various forms, with liquid and powdered botanicals being the primary extracted forms. Liquid botanicals are highly concentrated plant extracts used in cosmetics, pharmaceuticals, and food & beverages due to their natural properties and health benefits. Powdered botanicals, created from dehydrated or freeze-dried plant materials, are extensively used in dietary supplements, personal care products, and pharmaceutical formulations.

The application of botanicals spans multiple industries. In aromatherapy, essential oils derived from botanicals are used for their therapeutic benefits. The cosmeceuticals sector incorporates bioactive botanical ingredients in skincare products. The flavorings and fragrances industry utilizes botanical extracts to enhance the taste and aroma of consumer goods. Functional foods and beverages, enriched with botanical ingredients, offer additional health benefits beyond basic nutrition. Nutraceuticals, comprising vitamins, minerals, and herbs, provide extra health benefits in pill or capsule form. The pharmaceutical industry leverages botanical extracts for their therapeutic properties in prescription drugs.

Distribution channels for botanicals include business-to-business (B2B) and business-to-consumer (B2C) segments. The B2B segment caters to manufacturers, suppliers, wholesalers, and retailers, ensuring product quality and consistent supply. The B2C segment addresses end consumers' needs through offline stores and online platforms, emphasizing convenience, accessibility, affordability, and reliable product information.

The botanicals market in the Americas has witnessed significant growth due to the increasing preference for plant-based ingredients and awareness of their health benefits. Strict regulatory policies against synthetic additives have driven food manufacturers to adopt natural alternatives like botanical extracts. In the Asia-Pacific region, the market is propelled by traditional medicine practices and government initiatives promoting sustainable cultivation and processing of herbs. The EMEA region also shows growth due to the diverse applications of botanicals in pharmaceuticals, nutraceuticals, cosmetics, and food & beverages, supported by ongoing investments in research and development.

Major market players included in this report are:

• 1. ABOCA S.p.A.
• 2. Amway Corporation
• 3. Archer-Daniels-Midland Company
• 4. Ayana Bio, LLC
• 5. Bell Flavors & Fragrances GmbH
• 6. Blue Sky Botanics Ltd.
• 7. Cargill, Incorporated
• 8. Dermapharm Holding SE
• 9. Erba Vita Group S.p.A.
• 10. GNC Holdings, LLC
• 11. Himalaya Global Holdings Ltd.
• 12. International Flavors & Fragrances, Inc.
• 13. Kalsec, Inc.
• 14. Kerry Group plc
• 15. NOW Health Group, Inc.

The detailed segments and sub-segment of the market are explained below:

By Source

• Bark
• Flowers
• Leaves
• Roots
• Seeds
• Twigs

By Extracted Form

• Liquid
• Powder

By Application

• Aromatherapy & Essential Oils
• Cosmeceuticals & Personal Care
• Flavorings & Fragrances
• Functional Foods & Beverages
• Nutraceuticals & Dietary Supplements
• Pharmaceuticals & Medicinal

By Distribution Channel

• Business-to-Business
• Business-to-Consumer
  • Offline
  • Online

By Region: North America

• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA
• Years considered for the study are as follows: Historical year - 2022 Base year - 2023 Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.