Latest News- Botanicals Market: Herbs is expected to lead the Source segment during 2024-2028

The Botanicals Market is being driven by Growing demand for food and beverages with botanical ingredients

The Botanicals Market is expected to grow at a CAGR of 15.22% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 7852.7 million. The botanicals market is witnessing a significant shift towards herbal cosmetics formulated with organic botanical extracts. These extracts are sourced from herbs grown without the use of synthetic pesticides, herbicides, or fertilizers, ensuring their purity and naturalness. Manufacturers of organic herbal cosmetics meticulously label their products to highlight the high percentage of organic farming-derived ingredients. Conversely, some cosmetic products, such as lipsticks and soaps, have historically relied on animal content, including tallow and cochineal beetles, for their production. However, the increasing consumer preference for cruelty-free and natural alternatives is driving innovation in the botanicals market, with a growing number of companies focusing on plant-based ingredients for their cosmetic offerings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Source
  • Herbs
  • Spices
  • Flowers
  • Others
• Application
  • Food and Beverage
  • Nutraceuticals
  • Cosmetics
  • Pharmaceuticals
• Form
  • Powder
  • Liquid
  • Capsules
• Distribution Channel
  • B2B
  • Online Retail
  • Health Food Stores
  • Pharmacies
• Geography
  • Europe
    • UK
  • North America
    • Canada
    • US
  • Asia
    • China
    • India
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for food and beverages with botanical ingredients
• Consumer awareness about side effects of synthetic ingredients
• Immunity boosting properties of herbal medicines

However, the market also witnesses some limitations, which are as follows:

• Stringent quality standards and regulations
• Availability of substitutes
• Shortage of raw materials

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Market Scope in Botanicals Market Research Report

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Research Analysis Overview

The Botanicals Market encompasses various aspects of plant science, including phytochemical analysis to identify bioactive compounds, plant-microbe interaction for growth promotion and stress tolerance, pest resistance management through disease suppression methods and weed control, and natural product chemistry for herbal pesticide residue and bio-pesticide registration. Organic farming practices employ plant-derived compounds for sustainable crop production, enhancing nutrient uptake efficiency, water use efficiency, and yield stability. Environmental impact assessments consider the bioactive compound profile, plant defense response, microbial community analysis, soil enzyme activity, root growth stimulation, and fruit/vegetable quality improvement. Crop protection technology utilizes eco-friendly pest control methods, such as novel botanical compounds, to ensure plant health and improve overall productivity.

Market Research Overview

In the realm of agrobusiness, the botanicals market encompasses entities engaged in the production and processing of plant extracts for various applications, including herbal pesticides and natural fungicides. The market's size is determined by the consolidated revenue of these entities, as calculated by Technavio. Excluded from this market are manufacturers of food processing equipment and producers of packaged alcoholic and non-alcoholic beverages, apart from mineral waters. The growth of the botanicals market is influenced by several factors, including the increasing efficacy of botanical insecticides and the potency of plant extracts as natural fungicides. Additionally, the rising demand for phytochemical extraction methods to enhance the potency and efficacy of these natural compounds further propels market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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