Global Botanicals Market is valued at approximately USD 46.27 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.35% over the forecast period 2024-2032. Botanicals, derived from plants, encompass a variety of products rich in bioactive compounds such as phytochemicals, essential oils, antioxidants, vitamins, and minerals. These natural ingredients offer therapeutic benefits, making them popular in traditional medicine, dietary supplements, skincare products, aromatherapy, and culinary uses. The increasing health consciousness among consumers has spurred demand for natural therapeutic solutions derived from botanicals. The rising trend of herbal supplements and nutraceuticals further expands the market as individuals seek plant-based alternatives to support health and wellness. However, challenges such as product adulteration and mislabeling can hamper market growth. Despite these challenges, ongoing research and development efforts to broaden the applications of botanicals are expected to drive market expansion across various end-use sectors globally.
The market is segmented based on sources, including bark, flowers, leaves, roots, seeds, and twigs. Bark, rich in tannins and flavonoids, is in high demand for traditional medicine and supplements. Flowers, known for their aromatic and therapeutic properties, are widely used in cosmetics. Leaves, containing essential oils with potent biological activities, find applications in food & beverages, pharmaceuticals, and cosmetics. Roots, seeds, and twigs are also significant sources due to their diverse applications in herbal medicine and health supplements.
Botanicals are available in various forms, with liquid and powdered botanicals being the primary extracted forms. Liquid botanicals are highly concentrated plant extracts used in cosmetics, pharmaceuticals, and food & beverages due to their natural properties and health benefits. Powdered botanicals, created from dehydrated or freeze-dried plant materials, are extensively used in dietary supplements, personal care products, and pharmaceutical formulations.
The application of botanicals spans multiple industries. In aromatherapy, essential oils derived from botanicals are used for their therapeutic benefits. The cosmeceuticals sector incorporates bioactive botanical ingredients in skincare products. The flavorings and fragrances industry utilizes botanical extracts to enhance the taste and aroma of consumer goods. Functional foods and beverages, enriched with botanical ingredients, offer additional health benefits beyond basic nutrition. Nutraceuticals, comprising vitamins, minerals, and herbs, provide extra health benefits in pill or capsule form. The pharmaceutical industry leverages botanical extracts for their therapeutic properties in prescription drugs.
Distribution channels for botanicals include business-to-business (B2B) and business-to-consumer (B2C) segments. The B2B segment caters to manufacturers, suppliers, wholesalers, and retailers, ensuring product quality and consistent supply. The B2C segment addresses end consumers' needs through offline stores and online platforms, emphasizing convenience, accessibility, affordability, and reliable product information.
The botanicals market in the Americas has witnessed significant growth due to the increasing preference for plant-based ingredients and awareness of their health benefits. Strict regulatory policies against synthetic additives have driven food manufacturers to adopt natural alternatives like botanical extracts. In the Asia-Pacific region, the market is propelled by traditional medicine practices and government initiatives promoting sustainable cultivation and processing of herbs. The EMEA region also shows growth due to the diverse applications of botanicals in pharmaceuticals, nutraceuticals, cosmetics, and food & beverages, supported by ongoing investments in research and development.
Major market players included in this report are:
- 1. ABOCA S.p.A.
- 2. Amway Corporation
- 3. Archer-Daniels-Midland Company
- 4. Ayana Bio, LLC
- 5. Bell Flavors & Fragrances GmbH
- 6. Blue Sky Botanics Ltd.
- 7. Cargill, Incorporated
- 8. Dermapharm Holding SE
- 9. Erba Vita Group S.p.A.
- 10. GNC Holdings, LLC
- 11. Himalaya Global Holdings Ltd.
- 12. International Flavors & Fragrances, Inc.
- 13. Kalsec, Inc.
- 14. Kerry Group plc
- 15. NOW Health Group, Inc.
The detailed segments and sub-segment of the market are explained below:
By Source
- Bark
- Flowers
- Leaves
- Roots
- Seeds
- Twigs
By Extracted Form
By Application
- Aromatherapy & Essential Oils
- Cosmeceuticals & Personal Care
- Flavorings & Fragrances
- Functional Foods & Beverages
- Nutraceuticals & Dietary Supplements
- Pharmaceuticals & Medicinal
By Distribution Channel
- Business-to-Business
- Business-to-Consumer
By Region: North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
- Years considered for the study are as follows: Historical year - 2022 Base year - 2023 Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Botanicals Market Executive Summary
- 1.1. Global Botanicals Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Source
- 1.3.2. By Extracted Form
- 1.3.3. By Application
- 1.3.4. By Distribution Channel
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Botanicals Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Botanicals Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing Health Consciousness Among Consumers
- 3.1.2. Rise in Demand for Natural Therapeutics
- 3.1.3. Expansion of Horticulture and Agriculture Sectors
- 3.2. Market Challenges
- 3.2.1. Product Adulteration and Mislabeling
- 3.2.2. Fluctuations in Raw Material Supply
- 3.3. Market Opportunities
- 3.3.1. Technological Advancements in Botanical Processing
- 3.3.2. Ongoing Research for Expanded Applications
Chapter 4. Global Botanicals Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Botanicals Market Size & Forecasts by Source 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Botanicals Market: Source Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Bark
- 5.2.2. Flowers
- 5.2.3. Leaves
- 5.2.4. Roots
- 5.2.5. Seeds
- 5.2.6. Twigs
Chapter 6. Global Botanicals Market Size & Forecasts by Extracted Form 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Botanicals Market: Extracted Form Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Liquid
- 6.2.2. Powder
Chapter 7. Global Botanicals Market Size & Forecasts by Application 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Botanicals Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Aromatherapy & Essential Oils
- 7.2.2. Cosmeceuticals & Personal Care
- 7.2.3. Flavorings & Fragrances
- 7.2.4. Functional Foods & Beverages
- 7.2.5. Nutraceuticals & Dietary Supplements
- 7.2.6. Pharmaceuticals & Medicinal
Chapter 8. Global Botanicals Market Size & Forecasts by Distribution Channel 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Botanicals Market: Distribution Channel Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Business-to-Business
- 8.2.2. Business-to-Consumer
- 8.2.2.1. Offline
- 8.2.2.2. Online
Chapter 9. Global Botanicals Market Size & Forecasts by Region 2022-2032
- 9.1. North America Botanicals Market
- 9.1.1. U.S. Botanicals Market
- 9.1.1.1. Source breakdown size & forecasts, 2022-2032
- 9.1.1.2. Extracted Form breakdown size & forecasts, 2022-2032
- 9.1.1.3. Application breakdown size & forecasts, 2022-2032
- 9.1.1.4. Distribution Channel breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Botanicals Market
- 9.2. Europe Botanicals Market
- 9.2.1. U.K. Botanicals Market
- 9.2.2. Germany Botanicals Market
- 9.2.3. France Botanicals Market
- 9.2.4. Spain Botanicals Market
- 9.2.5. Italy Botanicals Market
- 9.2.6. Rest of Europe Botanicals Market
- 9.3. Asia-Pacific Botanicals Market
- 9.3.1. China Botanicals Market
- 9.3.2. India Botanicals Market
- 9.3.3. Japan Botanicals Market
- 9.3.4. Australia Botanicals Market
- 9.3.5. South Korea Botanicals Market
- 9.3.6. Rest of Asia Pacific Botanicals Market
- 9.4. Latin America Botanicals Market
- 9.4.1. Brazil Botanicals Market
- 9.4.2. Mexico Botanicals Market
- 9.4.3. Rest of Latin America Botanicals Market
- 9.5. Middle East & Africa Botanicals Market
- 9.5.1. Saudi Arabia Botanicals Market
- 9.5.2. South Africa Botanicals Market
- 9.5.3. Rest of Middle East & Africa Botanicals Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. ABOCA S.p.A.
- 10.1.2. Amway Corporation
- 10.1.3. Cargill, Incorporated
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Ayana Bio, LLC
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Market Strategies
- 10.3.2. Bell Flavors & Fragrances GmbH
- 10.3.3. Blue Sky Botanics Ltd.
- 10.3.4. Dermapharm Holding SE
- 10.3.5. Erba Vita Group S.p.A.
- 10.3.6. GNC Holdings, LLC
- 10.3.7. Himalaya Global Holdings Ltd.
- 10.3.8. International Flavors & Fragrances, Inc.
- 10.3.9. Kalsec, Inc.
- 10.3.10. Kerry Group plc
- 10.3.11. NOW Health Group, Inc.
- 10.3.12. Archer-Daniels-Midland Company
- 10.3.13. Nutra Green Biotechnology Co., Ltd.
- 10.3.14. Symrise AG
- 10.3.15. Synthite Industries Ltd.
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes