The botanical extract market is expected to witness significant growth during the forecasted period of 2024-2029.
Botanical extracts are materials extracted from plants that contain concentrated therapeutic properties. Botanical extracts exist in a variety of products in various markets, which include skin, hair, and dental products. These extracts are created in concentrated forms that include several medicinal properties, which include anti-aging, antioxidant, anti-inflammatory, and antimicrobial effects. Many botanical extracts get their medicinal properties from high levels of a chemical compound known as phenols, which acts as antioxidants and helps in reducing radical and oxidative stress. Several types of botanical extracts are used for skin care, which include pine bark extract, eucalyptus extract, aloe vera extract, coffeeberry extract, and many others. With many applications available in the botanical extract market, the market growth is expected to show a significant increase during the forecasted period.
Introduction:
The factors that affect the botanical extract market growth are the increase in the aging population and the various applications of botanical extracts in medicinal products. The increase in the aged population can increase the demand for age-related products, which range from skincare to healthcare products.
Market Drivers:
- Increasing aging population: As people grow older, their immunity systems become weaker as well, which leads to diseases that are specifically targeted toward the old age group. Some of the age-related diseases can include a variety of chronic diseases and heart diseases such as coronary heart disease and many others. As per the World Health Organization, the number of people that are above the age of 60 years will double from 12% in 2015 to 22% in 2040, with a major factor being the rapid growth of the total population worldwide. As the number of old people increases, the need for botanical extract-related products is expected to increase as well. This is due to the health benefits several botanical extracts can provide to age-related health issues. Green Tea is one of the highest consumed botanical extract concoctions in the world. Green Tea (Camellia sinensis, Theaceace) has been studied and shows results in able to reduce the risk of age-related diseases. The consumption of green tea has proven to display preventive effects in many diseases such as obesity, hypertension, insulin resistance, atherosclerosis, Metabolic Syndrome (MetS), coronary heart disease, and type II diseases. It has been also found that the catechins in green tea are beneficial for reducing obesity that is induced by a high-fat diet. These effects are mainly due to the gallate esters of catechin known as (-)-epicatechin gallate (ECG) and (-)-epigallocatechin-3- gallate (EGCG). Several other botanical extracts can provide similar effects to that of green tea. Therefore, when the old age population increases, it will fuel the botanical extract market growth during the forecasted period of 2024-2029.
Key Players:
- Martin Bauer Group: A leading manufacturer and supplier of teas, extracts, and botanicals with a wide range of products, which include food, beverage, dietary supplements, and phytopharmaceutical applications. They offer several herbal extracts for the phytopharmaceuticals and nutritional supplements.
- Kuber Impex Ltd.: A leader in manufacturing, trading and supplying natural herbs, botanical extracts, essential oils, and many others with applications in several products in the food and beverage, health supplement, cosmetic, and personal care industries.
Regional Analysis:
The Asia Pacific region is expected to witness significant growth in the botanical extract market during the forecasted period of 2024-2029. The factors that affect the market growth in this region are the increasing aging population and the history of the use of natural/traditional medicine. India and China are expected to witness significant growth due to their traditional medicinal practices and increase in population. Botanical extracts are known to contain several health benefits, which include anti-inflammatory properties, and antiseptic properties. As the aging population increases, remedies for age-related problems also increase in demand. Remedies include several types of products that are used from botanical extracts. As per the Economic and Social Commission for Asia and the Pacific, the number of people who are aged 60 years and older accounted for 12.4% of the region in 2016 and will be expected to reach 1.3 billion by 2050. As the aged population increases, it will be expected to fuel the increase in demand for botanical extract-based products due to the several health benefits that they can provide, which include protective properties of cardio, gastro, hepatic, and neurological systems
Market Developments:
- July 2023: Mayaa Veda Herbal announced the launch of their personal care products that use 100% botanical extracts. Mayaa Veda Herbal is an essential skin and hair care brand that believes in bringing slow change in how people indulge in self-care to find peace in their disruptive work. This allowed them to enter the Direct-to-Consumer (D2C) market with the launch of seven hair and skin-care products in the first phase, which are made from ayurvedic ingredients and are free of parabens and sulfate. The products were made with the focus of simplifying and promoting self-care in the lives of individuals with a vogue and active lifestyle.
- October 2022: Layn Natural Ingredient has announced the launch of a new potent, polyphenol-rich botanical extract solution that is used as an animal feed additive to reduce the negative effects of mycotoxins in production animals, dubbed TruGro MYC. This product has shown effective results in reducing the effects of mycotoxins in production animals, namely broilers and swine. The product also helps in protecting from other mycotoxins, which include fumonisin b1 which have harmful effects on the liver and other organs of production animals, and has been shown to help support swine liver and kidney function.
Segmentation:
- By Source:
- By Form:
- By Application:
- Food & Beverages
- Pharmaceutical
- Cosmetic & Personal Care
- Others
- By Geography:
- North America
- United States
- Canada
- Mexico
- South America
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others