Botanical Extracts Market: Market outlook.
Botanical extracts are the natural products that are derived from leaves, roots, barks, berries, stems, and flowers of plants. They are packed in the essence of plants in a liquid state. Botanical extract is made by soaking the botanicals in a solvent that removes specific types of chemicals. The most commonly used solvents are ethanol, methanol, and acetone. Botanical extracts are high in vitamin A, vitamin K, vitamin C, magnesium, calcium, iron, and potassium content. The shelf life of botanical extracts is about 4 to 6 months.
Herbs and leaves are been used since ancient times for the production of herbal medicines. However, they are now gaining immense popularity due to the changing consumer trend of using natural products instead of synthetic products. This has led to the increased demand for botanical extracts in the cosmetics, personal care, and pharmaceuticals industry. However, stringent government norms in the usage of products containing botanical extracts can prove to be a restraining factor for the botanical extracts market.
Botanical Extracts Market: Market Dynamics
Increasing awareness regarding the benefits of herbal products over synthetic products driving the botanical extracts market.
There is an increase in awareness regarding the side effects caused due to the use of synthetic products among the customers. The polyester fiber used in synthetic products is a bad conductor of sweat and heat, it is responsible for the increased skin rashes, redness, and itching. The medical conditions need a more novel approach to heal the diseases and reduce the side effects caused by the medications. This has led to the increased demands for botanical extracts as a primary alternative for synthetic or allopathic medicines.
Large application segment driving the botanical extracts market.
The use of botanical extracts is not limited to the health-care sector. Botanical extracts are also an important component in the dietary supplements segment. There is an increase in demand for functional food and supplements due to the changing lifestyle. Botanical extracts are used in many cosmetic applications such as moisturizing, brightening and lightening, hair care, soothing and anti-inflammation, and many others.
Botanical Extracts Market: Market Segmentation.
On the basis of source, the botanical extracts market can be segmented as follows
On the basis of applications, the botanical extracts market can be segmented as follows,
On the basis of form, the botanical extracts market can be segmented as follows
On the basis of technology, the botanical extracts market can be segmented as follows
On the basis of region, the botanical extracts market can be segmented as follows
Botanical Extracts Market: Key Players
Some of the key players functioning in the botanical extracts market are, Plant Extracts International, Lehmann & Voss & Co, Alkaloids Corporation, Haldin, Nutra Green Biotechnology, Green Source Organics, Organic Herb, MB-Holding GmbH & Co, Fytosan, FutureCeuticals, Nexira, Blue Sky Botanics, Nantong Sihai Plant Extracts, and many more.
Botanical Extracts Market: Opportunities
The botanical extracts market is divided into the existence of a large number of manufacturers across different regions. These manufacturers are taking efforts to increase the demand for botanical extracts and to provide the customers with better quality and price. For this, they have adopted various marketing strategies. They are also making efforts to launch new products with developed quality. Some of them are adopting strategies such as joint ventures, partnerships, and expansions to be the best in the botanical extracts market. Manufacturers are continuously investing in the botanical extracts market and are emphasizing on innovation to expand their product range leading to increased opportunities.
Botanical Extracts Market: Regional Outlook.
The Asia Pacific holds the highest percentage of market share within the botanical extracts market. Countries such as India, China, and Indonesia have a substantial tropical area. These countries have diverse herbal and medicinal plants. This provides the manufacturers with an efficient supply of medicinal plants as they are aware of the benefits offered by the botanical extracts. This has led to the rise in the trade between Asia and other international manufacturers of botanical extract-based products.
Covid-19 Impact on Botanical Extracts Market.
The far-reaching effects of Covid-19 have acutely affected the global economy. Every industry is facing problems due to various reasons like disturbed supply chain, shortage of raw materials, decreased workforce, and reduced cash flow. This may affect the food and beverage industry as well. However, during this pandemic, there is an increased awareness regarding immunity-boosting food supplements. Botanical extracts being a major component for the plant-based immunity-boosting food supplements is expected to face moderate impact due to Covid-19.