Botanicals Market by Source, Extracted Form, Application, Distribution Channel

List of Tables

[183 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 46.27 billion
Estimated Year [2024]	USD 49.40 billion
Forecast Year [2030]	USD 76.05 billion
CAGR (%)	7.35%

Source: Increasing consumer consciousness about botanical sources

Bark is a valuable source of tannins and flavonoids, harnessed in botanical remedies for their medicinal properties. The demand for bark-based botanicals has surged due to their use in traditional medicine and supplements. Flowers are known for their aromatic compounds and therapeutic benefits and are used in cosmetic products such as perfumes, soaps, and lotions. The utility of leaves extends across various industries such as food & beverages, pharmaceuticals, nutraceuticals, and cosmetics containing essential oils with potent biological activities such as antioxidant properties. Roots are a rich source of secondary metabolites, such as alkaloids and glycosides, which have diverse applications in herbal medicine. Seeds & twigs based botanicals offer many benefits for human health, owing to their rich nutrient content, including vitamins, minerals, and proteins.

Extracted Form: Significance of forms of botanicals

Liquid botanicals are concentrated plant extracts from herbs, fruits, flowers, and other plant materials. Liquid botanicals are highly demanded in industries such as cosmetics, pharmaceuticals, and food & beverages due to their natural properties and health benefits. Powdered botanicals comprise dehydrated or freeze-dried plant materials ground into fine powders and used across different sectors, such as dietary supplements, personal care products, and pharmaceutical formulations.

Application: Diverse applications of botanicals across end-user industries

Aromatherapy preferred therapeutic use of plant-derived essential oils that promote physical and psychological well-being. Consumers increasingly prefer natural remedies for stress relief and relaxation, boosting the demand for aromatherapy products. Cosmeceuticals are infused with bioactive ingredients that provide medicinal or therapeutic benefits to the skin. The flavorings and fragrances industry incorporates botanical extracts to enrich the taste or aroma of consumer goods, including food, beverages, cosmetics, and household products. Functional food and beverages contain nutritional ingredients that provide health benefits beyond essential nutrition. Additionally, nutraceuticals are derived from food sources with extra health benefits beyond nutritional value and comprise vitamins, minerals, herbs, or other botanicals in pill or capsule form. The pharmaceutical industry employs various botanical extracts as active ingredients in prescription drugs for their therapeutic properties.

Distribution Channel: channels catering to different needs and preferences of customers,

The B2B distribution channel primarily caters to manufacturers, suppliers, wholesalers, and retailers who collectively form the botanical supply chain, ensuring product quality and consistent supply while maintaining cost-efficiency. The B2C distribution channel directly addresses end consumers' needs by offering botanical products through offline stores or platforms such as e-commerce websites or mobile applications. Customer preferences in B2C distribution channels include convenience, accessibility, affordability, variety of choices, and reliable product usage and benefits information.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Botanicals Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Botanicals Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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 LEA 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, Ladrome 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 Thes, Phytonorm, Pierre Fabre S.A., Prakruti Products Pvt. Ltd., Pranarom 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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Botanicals Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Botanicals Market?

3. What are the technology trends and regulatory frameworks in the Botanicals Market?

4. What is the market share of the leading vendors in the Botanicals Market?

5. Which modes and strategic moves are suitable for entering the Botanicals Market?

Product Code: MRR-957C47F94A19

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing adoption of botanicals as dietary and functional supplements
  - 5.1.1.2. Rising inclination of consumers toward aromatherapy and use of essential oils
  - 5.1.1.3. Increasing consumer awareness and adoption of botanical-derived personal care products
- 5.1.2. Restraints
  - 5.1.2.1. High cost of extraction and development of botanicals
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging use of botanicals in animal nutrition products
  - 5.1.3.2. Rise in the number of approvals for botanical products coupled with availability on the eCommerce platform
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with product adulteration and mislabeling in botanicals
5.2. Market Segmentation Analysis
- 5.2.1. Source: Increasing consumer consciousness about botanical sources
- 5.2.2. Extracted Form: Significance of forms of botanicals
- 5.2.3. Application: Diverse applications of botanicals across end-user industries
- 5.2.4. Distribution Channel: channels catering to different needs and preferences of customers,
5.3. Market Trend Analysis
- 5.3.1. Supportive government standards and improvement in cultivation of native botanical species in the Americas
- 5.3.2. Expanding applications of botanicals in the pharmaceuticals and cosmetic sector in the APAC region
- 5.3.3. Ongoing research and emphasis on leveraging advanced botanical extraction technologies in the EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Botanicals Market, by Source

6.1. Introduction
6.2. Bark
6.3. Flowers
6.4. Leaves
6.5. Roots
6.6. Seeds
6.7. Twigs

7. Botanicals Market, by Extracted Form

7.1. Introduction
7.2. Liquid
7.3. Powder

8. Botanicals Market, by Application

8.1. Introduction
8.2. Aromatherapy & Essential Oils
8.3. Cosmeceuticals & Personal Care
8.4. Flavorings & Fragrances
8.5. Functional Foods & Beverages
8.6. Homeopathic Remedies
8.7. Nutraceuticals & Dietary Supplements
8.8. Pharmaceuticals & Medicinal

9. Botanicals Market, by Distribution Channel

9.1. Introduction
9.2. Business-to-Business
9.3. Business-to-Consumer

10. Americas Botanicals Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Botanicals Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Botanicals Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. ButACake and Azuca Join Forces to Launch Hibiscus Elixir in Delaware's Medical Market
- 13.3.2. Cannabis Firm Botanica Raises USD 9 million Series B Funding to Fuel Expansion of Leading Infused Edibles, Beverage Brands
- 13.3.3. Nektium Expands International Distribution Network for Botanical Extracts
- 13.3.4. Universal Corporation Announces Expansion at Shank's Extracts, LLC
- 13.3.5. Univar Solutions Expands Personal Care Products Portfolio in North America with Natural Botanical Extracts from ANGUS
- 13.3.6. Ayana Bio Launches First Cell-Derived Botanical Ingredients
- 13.3.7. Volunteer Botanicals Launches Line of Wellness Products Created with Plant-based Ingredients
- 13.3.8. Rishi Tea & Botanicals Forges Strategic Partnership With SBJ Capital to Accelerate Growth
- 13.3.9. Epic Gardening Acquires Botanical Interests to Grow Its Wholesale Offering Through Partnership with Independent Garden Centers
- 13.3.10. Real Brands Signs Definitive Agreement for the Acquisition of Boulder Botanical & Biosciences Laboratories Assets
- 13.3.11. Leaven Essential to Launch Branded Botanical Extracts to Global Markets

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio