The Global Botanical Ingredients Market is projected to grow at a CAGR of 7.2% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the escalating trends of eating clean label products & sustainable ingredients to build a healthy lifestyle and balance the immune strength.
It, in turn, is augmenting the demand for botanical ingredients in various food & beverages and dietary supplements, among others. The same is also instigating several prominent players to increase their production & distribution capacities and cater to the rising requirements worldwide.
The utilization of these ingredients is seen expansively across the food & beverages industry owing to the versatility of these ingredients offering a refreshing & premium touch to the existing formulations & cuisines. Moreover, the pharmaceutical sector is emerging as another prominent sector propelling the demand for botanical ingredients owing to their medicinal properties. This elevation has hiked, especially after the advent of Covid-19, mounting health concerns.
In addition, numerous health associations, hospitals, and research centers are also recommending using botanical ingredients to develop novel therapeutics & medications. Such aspects are anticipated to boost the demand for botanical ingredients & contribute to the market expansion in the future, further states the research report, “Global Botanical Ingredients Market Analysis, 2022.”
Versatility of Botanical Ingredients Paving Ways for Wide Applications in Food & Beverages
Based on Application, Food & Beverage is anticipated to dominate the Global Botanical Ingredients Market with the largest share during the forecast period. This dominance attributes to the growing health consciousness among people and their preference for healthy eating. It, in turn, is demonstrating a wide utilization of botanical ingredients in bakeries, confectionery, sauces, sports drinks, seasonings, and confectionary, among others.
Such aspects are showcasing an upsurge in demand for these ingredients worldwide. Due to the wide versatility of these ingredients, food & beverage manufacturing companies are introducing an extensive range of refreshing & healthy products derived from such organic ingredients and backing the market growth.
Extensive Health Consciousness Among People in Asia-Pacific to Fuel the Market Growth
On the geographical front, Asia-Pacific is anticipated to exemplify significant growth in the Global Botanical Ingredients Market during the forecast period. It owes principally to the massive consumer base across the region for these ingredients due to the growing awareness about the perks of herbal products on health alongside improving purchasing power, propelling the demand for botanical ingredients.
Besides, greater emphasis on clean labeling and organic products are also generating growth opportunities for the leading players, especially across countries like China, India, and Indonesia, and contributing to the market expansion. The same aspect is triggering the players to increase their production & distribution capacities and scalability across locations, thereby positively influencing the market across Asia-Pacific.
The leading players in the Global Botanical Ingredients Market are, Archer Daniels Midland Company, AmbePhytoextractsPvt. Ltd., Bell Flavors & Fragrances, Botanical Ingredients Ltd., Blue Sky Botanics, Berje, Inc., Döhler Gmb, Fytosan (Die, France), Givaudan, Green Labs LLC, Haldin Natural, Indesso, International Flavors& Fragrances, Inc., Kalsec Inc., Koninklijke Euroma BV, Lipoid Kosmetic AG, Martin Bauer Group, Nexira, Nutrasorb, LLC, Prakruti Products Pvt. Ltd., Rutland Biodynamics Ltd., Synthite Industries, Synergy Flavors, The Herbarie at Stoney Hill Farm, Inc., Umalaxmi Organics Pvt. Ltd, Others
Key Questions Answered in the Research Report