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

List of Tables

The Botanicals Market was valued at USD 46.27 billion in 2023, expected to reach USD 49.40 billion in 2024, and is projected to grow at a CAGR of 7.35%, to USD 76.05 billion by 2030.

The botanicals market refers to the industry concerned with plants and plant-derived substances used primarily for medicinal, therapeutic, or cosmetic purposes. The scope encompasses various sectors, including dietary supplements, herbal medicine, cosmetics, and personal care, which harness the natural properties of botanicals. The necessity of botanicals has risen due to a growing consumer preference for natural over synthetic products, driven by increasing health consciousness and environmental awareness. Applications of botanicals include dietary supplements, skin care formulations, pharmaceuticals, and food and beverage enhancements to promote health and wellness. End-use scope spans industries like nutraceuticals, pharmaceuticals, and personal care, with an expanding footprint in the food and beverage industry. Market growth is propelled by factors such as an aging population, rising wellness trends, and innovations in extraction and formulation technologies. The ongoing shift towards preventive healthcare and increasing consumer knowledge regarding long-term health benefits also stimulate demand for botanicals. However, the market faces challenges such as regulatory scrutiny, quality control issues, and complexities in raw material sourcing-especially due to climatic impacts on plant cultivation. To harness potential opportunities, companies should focus on the development of novel products using advanced extraction techniques and sustainable sourcing practices. Furthermore, leveraging digital platforms for market outreach and consumer education can enhance brand loyalty and expand market reach. Innovations in personalized botanical solutions tailored to specific health and lifestyle needs offer significant growth prospects in such a diversified market. The botanical market, while lucrative, requires navigating regulatory landscapes and maintaining high standards of production and efficacy. Collaborative research to explore new botanicals and partnerships with agricultural firms can serve as pivotal innovation avenues. As the market is inherently dynamic, staying abreast of consumer trends and regulatory changes will be crucial for sustained business growth and maintaining a competitive edge.

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%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Botanicals Market

The Botanicals Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

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

Porter's Five Forces: A Strategic Tool for Navigating the Botanicals Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Botanicals Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Botanicals Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Botanicals Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Botanicals Market

A detailed market share analysis in the Botanicals Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Botanicals Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Botanicals Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Key Company Profiles

The report delves into recent significant developments in the Botanicals Market, highlighting leading vendors and their innovative profiles. These include Kerry Group plc, Leaven Essentials Pvt Ltd, Ladrome Laboratoire, fytobell.be, Volunteer Botanicals, MB-Holding GmbH & Co. KG, Beijing Gingko Group, Kuber Impex Ltd., Koninklijke DSM N.V., The Herbarie at Stoney Hill Farm Inc., Himalaya Global Holdings Ltd., ABOCA S.p.A., P.T Indesso Aroma, Palais des Thes, Synthite Industries Ltd., Berje Inc., Symrise AG, Synergy Flavors, Inc., Amway Corporation, Prinova Group LLC, Blue Sky Botanics Ltd., Phytonorm, International Flavors & Fragrances, Inc., Lipoid Kosmetik AG, Rutland Biodynamics Ltd., Naturex SA by Givaudan International SA, GROUPE LEA NATURE, Dermapharm Holding SE, Ransom Naturals Ltd., Prakruti Products Pvt. Ltd., Botanic Healthcare Group, Cargill, Incorporated, NOW Health Group, Inc., Erba Vita Group S.p.A., Umalaxmi Organics Pvt. Ltd., Dohler GmbH, Bell Flavors & Fragrances GmbH, Pranarom International, Pierre Fabre S.A., Amanprana by Mannavita, Ambe Phytoextracts Pvt. Ltd., Ortis AG-SA-NV, Arla Foods Group, L'Herbier du Diois, Archer-Daniels-Midland Company, Les Relais de Florame, BIOFLORAL INC., Ayana Bio, LLC, Natura Health Products, L' Angelica Herbal Institute, Nutra Green Biotechnology Co., Ltd., GNC Holdings, LLC, LAPHT Phytofrance Laboratory, PT. Haldin Pacific Semesta, True Botanicals, Inc., BASF SE, Tate & Lyle PLC, and Kalsec, Inc..

Market Segmentation & Coverage

This research report categorizes the Botanicals Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Source, market is studied across Bark, Flowers, Leaves, Roots, Seeds, and Twigs.
Based on Extracted Form, market is studied across Liquid and Powder.
Based on Application, market is studied across Aromatherapy & Essential Oils, Cosmeceuticals & Personal Care, Flavorings & Fragrances, Functional Foods & Beverages, Homeopathic Remedies, Nutraceuticals & Dietary Supplements, and Pharmaceuticals & Medicinal. The Functional Foods & Beverages is further studied across Energy Drinks, Functional Juices, Sauce & Dressing, and Sports Drinks. The Pharmaceuticals & Medicinal is further studied across Cardiovascular Health, Digestive Health, Immune Support, Stress Management and Relaxation, and Weight Management.
Based on Distribution Channel, market is studied across Business-to-Business and Business-to-Consumer. The Business-to-Consumer is further studied across Offline and Online.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

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. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

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
- 8.5.1. Energy Drinks
- 8.5.2. Functional Juices
- 8.5.3. Sauce & Dressing
- 8.5.4. Sports Drinks
8.6. Homeopathic Remedies
8.7. Nutraceuticals & Dietary Supplements
8.8. Pharmaceuticals & Medicinal
- 8.8.1. Cardiovascular Health
- 8.8.2. Digestive Health
- 8.8.3. Immune Support
- 8.8.4. Stress Management and Relaxation
- 8.8.5. Weight Management

9. Botanicals Market, by Distribution Channel

9.1. Introduction
9.2. Business-to-Business
9.3. Business-to-Consumer
- 9.3.1. Offline
- 9.3.2. Online

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

Companies Mentioned

1. Kerry Group plc
2. Leaven Essentials Pvt Ltd
3. Ladrome Laboratoire
4. fytobell.be
5. Volunteer Botanicals
6. MB-Holding GmbH & Co. KG
7. Beijing Gingko Group
8. Kuber Impex Ltd.
9. Koninklijke DSM N.V.
10. The Herbarie at Stoney Hill Farm Inc.
11. Himalaya Global Holdings Ltd.
12. ABOCA S.p.A.
13. P.T Indesso Aroma
14. Palais des Thes
15. Synthite Industries Ltd.
16. Berje Inc.
17. Symrise AG
18. Synergy Flavors, Inc.
19. Amway Corporation
20. Prinova Group LLC
21. Blue Sky Botanics Ltd.
22. Phytonorm
23. International Flavors & Fragrances, Inc.
24. Lipoid Kosmetik AG
25. Rutland Biodynamics Ltd.
26. Naturex SA by Givaudan International SA
27. GROUPE LEA NATURE
28. Dermapharm Holding SE
29. Ransom Naturals Ltd.
30. Prakruti Products Pvt. Ltd.
31. Botanic Healthcare Group
32. Cargill, Incorporated
33. NOW Health Group, Inc.
34. Erba Vita Group S.p.A.
35. Umalaxmi Organics Pvt. Ltd.
36. Dohler GmbH
37. Bell Flavors & Fragrances GmbH
38. Pranarom International
39. Pierre Fabre S.A.
40. Amanprana by Mannavita
41. Ambe Phytoextracts Pvt. Ltd.
42. Ortis AG-SA-NV
43. Arla Foods Group
44. L'Herbier du Diois
45. Archer-Daniels-Midland Company
46. Les Relais de Florame
47. BIOFLORAL INC.
48. Ayana Bio, LLC
49. Natura Health Products
50. L' Angelica Herbal Institute
51. Nutra Green Biotechnology Co., Ltd.
52. GNC Holdings, LLC
53. LAPHT Phytofrance Laboratory
54. PT. Haldin Pacific Semesta
55. True Botanicals, Inc.
56. BASF SE
57. Tate & Lyle PLC
58. Kalsec, Inc.