Botanical Extracts Market is Projected to Grow with a CAGR of 9.50% During the Forecast Period 2023 to 2030

Global Botanical Extracts Market is predicted to reach USD 10.38 billion at a CAGR of 9.50% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Botanical Extracts Market” that contains information from 2023 to 2030. The Global Botanical Extracts Market is estimated to register a CAGR of 9.50% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Global Botanical Extracts Market— Ransom Naturals Limited, International Flavors and Fragrances Inc, Synthite Industries Limited, Martin Bauer Group, Prinova Group LLC, Synergy Flavors Inc, and Kalsec Inc.

Botanical Extracts Market Highlights

The Global Botanical Extracts Market is accounted to register a CAGR of 9.50% during the forecast period and is estimated to reach USD 10.38 Billion by 2030.

The Global Botanical Extracts Market refers to the worldwide industry centered around the production, processing, and distribution of natural plant-derived compounds obtained from various parts of plants, such as leaves, flowers, stems, roots, and fruits. These botanical extracts are utilized in a wide range of applications, including cosmetics, pharmaceuticals, food and beverages, dietary supplements, and more, due to their potential health and functional benefits.

The market for botanical extracts has experienced significant growth in recent years, driven by increasing consumer awareness of the potential benefits of natural and plant-based products. Factors such as the rising demand for herbal and natural remedies, the preference for clean-label products, and the trend towards organic and sustainable ingredients have contributed to the expansion of this market.

Segment Analysis

The Global Botanical Extracts Market has been segmented based on form, source and application.

On the basis of form, the market is segmented into Powder and Liquid. The powder segment held the majority share. This is due to its ease of handling and longer shelf life. They also have a longer shelf life, making them more cost-effective for manufacturers.

Based on source, the market has been segmented into Herbs & Spices and Fruits. The herbs & spices segment dominated the market. This is primarily due to the Herbs are the most common source of botanical extracts due to their versatile nature and wide range of therapeutic properties. 

Based on application, the market has been segmented into Food & Beverages, Personal Care and Pharmaceuticals & Nutraceuticals. The gluten-free segment dominated the market. This is primarily due to the increasing demand for natural and healthy ingredients driving the demand for botanical extracts.

Regional Analysis

The Global Botanical Extracts Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Botanical Extracts Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Botanical Extracts Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Botanical Extracts Market comprises of Middle East, Africa, and Latin America.

North America has a well-established market for botanical extracts due to the increasing consumer demand for natural and organic products. Increasing awareness of the health benefits of botanical extracts and a preference for clean-label products are key drivers.

Europe has a strong tradition of herbal medicine and botanical remedies, contributing to a significant market share for botanical extracts. Increasing interest in plant-based diets, organic products, and natural cosmetics drives the demand for botanical extracts in the region.

The Asia-Pacific region holds a rich diversity of plant species, contributing to a robust market for botanical extracts. Rising disposable income, urbanization, and increasing health consciousness are boosting the demand for natural and herbal products.

Furthermore, the rest of the world's Global Botanical Extracts Market is divided into the Middle East, Africa, and Latin America. Latin America is known for its vast biodiversity, leading to a range of unique botanical extracts. Growing interest in natural and organic products, coupled with a focus on sustainable sourcing, impacts the market positively.

Key Findings of the Study

• The Global Botanical Extracts Market is expected to reach USD 10.38 Billion by 2030, at a CAGR of 9.50% during the forecast period.


• North America has a well-established market for botanical extracts due to the increasing consumer demand for natural and organic products. Increasing awareness of the health benefits of botanical extracts and a preference for clean-label products are key drivers.


• Based on source, the market has been segmented into Herbs & Spices and Fruits holding the largest market in 2022.


• Ransom Naturals Limited, International Flavors and Fragrances Inc, Synthite Industries Limited, Martin Bauer Group, Prinova Group LLC, Synergy Flavors Inc, and Kalsec Inc.