Botanical Extracts Market By Source, By Form, By Application, By Geographic Scope
Botanical Extracts Market was valued at USD 6.75 Billion in 2018 and is projected to reach USD 18.06 Billion by 2026, growing at a CAGR of 13.40% from 2019 to 2026.
According to Verified Market Research, the Global Botanical Extracts Market was valued at USD 6.75 Billion in 2018 and is projected to reach USD 18.06 Billion by 2026, growing at a CAGR of 13.40% from 2019 to 2026.
The latest survey on Global Botanical Extracts Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in the Botanical Extracts Market. The report aims to present the analysis of Global Botanical Extracts Market By Circulating BioMarker, By Application, By End User, By Product & Services, By Clinical Application, By Competitive Landscape, By Region – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.What is Botanical Extracts?
Botanical extracts are defined as the plant-based products that are used for its medicinal or therapeutic properties, flavor, and/or scent. Botanical materials used include whole, fragmented or cut plants, plant parts, plant products (such as exudates) algae, fungi, and lichens. All preparations obtained from botanicals by various processes such as pressing, squeezing, extraction, fractionation, distillation, concentration, drying up and fermentation.
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These products are also known with a few other names that include herbal medicines, dietary herbal supplements, phytomedicines, and phyotherapeutic agents. In contrast to pharmaceuticals, botanicals are not highly purified or chemically modified medicines and also, they do not involve the identification of active constituents and biological activity characterization.Global Botanical Extracts Market Overview
Rising demand for botanical extracts in the pharmaceutical and cosmetic sectors is one of the major factors contributing to the growth of the market. These extracts isolated from plants are used for many cosmetic applications such as derma protection & regeneration, soothing & anti-inflammation, moisturizing, brightening & lightening, hair care, aging, and many others. In the pharmaceutical industry, these extracts are used in different therapies for the purpose of cure, treatment or prevention of diseases.
With the prevalence of chronic and lifestyle diseases, emerging medical conditions require a more novel approach that cures the disease and reduces the occurrence of side effects. Botanical drugs can be used as an alternative to allopathic medicines. These drugs are composed of natural substances that have constituents with health-enhancing or medicinal activities. Therefore, the rising awareness regarding the side effects of allopathy medicines is another driving factor for the market. However, the availability of artificial flavors as a substitute in the market might hinder the overall growth.Botanical Extracts Market: Segmentation
The Botanical Extracts market is segmented on the basis of form, application, and geography.
On the basis of industry, the market is bifurcated into Food, Beverages, Pharmaceutical, Cosmetic & Personal Care and Others.
On the basis of application, the market for pharmaceuticals accounted for the largest market share and is expected to grow at the highest CAGR followed by cosmetics over the forecast period. In the pharmaceutical sector, botanical drugs composed of natural substances having constituents with health enhancing or medicinal activities are used. These extracts are used in different therapies for the purpose of cure, treatment or prevention of diseases. Botanical therapeutics are available in the form of dietary supplements, drugs, or botanical drugs and can eventually hold the status of currently registered pharmaceuticals through regulatory offices such as the FDA if they surpass clinical trials and demonstrate efficacy and safety.
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On the basis of regional analysis, the global Botanical Extracts market is classified into North America, Europe, Asia Pacific and Rest of the world. Asia-Pacific accounted for the largest market share in 2018 and is projected to grow at the highest CAGR during the forecast period. Growing demands from emerging markets are one of the major factors boosting the growth in this region.
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