Report Overview:
The global botanicals market was valued at approximately USD 161.9 billion in 2023 and is projected to grow at a CAGR of 6.8%, reaching USD 312.6 billion by 2033.Fresh botanicals currently dominate the market, accounting for nearly 74% of the share, driven by consumers’ preference for less processed, more “natural” ingredients.
Key Takeaways:
The global botanicals market will be valued at US$ 161.9 Billion in 2023.
The global botanicals market is projected to reach US$ 312.6 Billion by 2033.
Among forms, fresh botanicals accounted for the largest market share of 74.0%.
Among sources, root botanicals accounted for the majority of the market share with 27.4%.
Based on application, pharmaceuticals are expected to account for the largest market share in 2023 with 40.1%.
Increasing demand for natural and organic products is expected to drive the market.
Europe is the leading region in the global market with a revenue share of 34.6%.
Download Exclusive Sample Of This Premium Report:
http://market.us/report/botanicals-market/free-sample/
Key Market Segments:
By Form
Fresh
Extracts
By Source
Roots
Fruits
Flowers
Leaves
Herbs
Spices
Others
By Application
Pharmaceuticals
Food and Beverage
Alcoholic Beverages
Sauces and Dressings
Bakery and Confectionery
Non-alcoholic Beverages
Others
Dietary Supplements
Tablets
Capsules
Soft Gels
Powders
Gummies
Liquids
Others
Personal Care & Cosmetics
Others
Drivers:
Consumers today are increasingly health-conscious and pursuing natural, functional ingredients. That shift supports botanical products not just in food and cosmetics, but especially in pharmaceuticals. Pharmaceutical companies are investing heavily in research and regulatory approval for botanical-based medicines.
Opportunities:
There’s growing room to expand into Western and emerging Asia Pacific markets, especially in health and wellness categories. Demand for botanicals in cosmetics, dietary supplements, and functional foods continues to rise. New product formats like botanicals in energy drinks or immune-support blends also open doors.
Restraints:
Botanical ingredients are sensitive to climate and environmental changes. Overharvesting, habitat loss, and climate unpredictable patterns threaten supply. Regulatory barriers and standardization hurdles pose further challenges, as botanical materials can vary widely in composition and quality. Compliance costs can limit entry, especially for smaller companies.
Trends:
Emerging synthetic or biotech-derived alternatives may compete on cost and consistency. Large-scale overfarming could degrade resources and lead to supply shortages. Also, stricter biodiversity and conservation laws may restrict access to certain plant sources, inflating costs or limiting availability.
Market Key Players:
The Archer-Daniels-Midland Company
International Flavors& Fragrances, Inc.
Koninklijke DSM N.V.
Givaudan
Carbery Group
Sidomuncul
Martin Bauer GmbH & Co. KG
Bell Flavors & Fragrances
Lipoid-Kosmetik
Prakruti Products
Eu Yan Sang
Herbanext Laboratories, Inc.
Ransom Naturals Ltd
Blue Sky Botanics
Indesso
Other Manufacturers
Conclusion:
The botanicals market is clearly on a solid growth path driven by consumer preference for natural, health-enhancing products and supported by pharmaceutical adoption. Over the next decade, demand will likely expand beyond traditional food and supplement channels into cosmetics, wellness drinks, and functional ingredients. Regulation remains a double-edged sword: while it can support credibility, it also raises the bar for quality and compliance.
Report Overview:
The global botanicals market was valued at approximately USD 161.9 billion in 2023 and is projected to grow at a CAGR of 6.8%, reaching USD 312.6 billion by 2033.Fresh botanicals currently dominate the market, accounting for nearly 74% of the share, driven by consumers’ preference for less processed, more “natural” ingredients.
Key Takeaways:
- The global botanicals market will be valued at US$ 161.9 Billion in 2023.
- The global botanicals market is projected to reach US$ 312.6 Billion by 2033.
- Among forms, fresh botanicals accounted for the largest market share of 74.0%.
- Among sources, root botanicals accounted for the majority of the market share with 27.4%.
- Based on application, pharmaceuticals are expected to account for the largest market share in 2023 with 40.1%.
- Increasing demand for natural and organic products is expected to drive the market.
- Europe is the leading region in the global market with a revenue share of 34.6%.
Download Exclusive Sample Of This Premium Report:
http://market.us/report/botanicals-market/free-sample/
Key Market Segments:
By Form
- Fresh
- Extracts
By Source
- Roots
- Fruits
- Flowers
- Leaves
- Herbs
- Spices
- Others
By Application
- Pharmaceuticals
- Food and Beverage
- Alcoholic Beverages
- Sauces and Dressings
- Bakery and Confectionery
- Non-alcoholic Beverages
- Others
- Dietary Supplements
- Tablets
- Capsules
- Soft Gels
- Powders
- Gummies
- Liquids
- Others
- Personal Care & Cosmetics
- Others
Drivers:
Consumers today are increasingly health-conscious and pursuing natural, functional ingredients. That shift supports botanical products not just in food and cosmetics, but especially in pharmaceuticals. Pharmaceutical companies are investing heavily in research and regulatory approval for botanical-based medicines.
Opportunities:
There’s growing room to expand into Western and emerging Asia Pacific markets, especially in health and wellness categories. Demand for botanicals in cosmetics, dietary supplements, and functional foods continues to rise. New product formats like botanicals in energy drinks or immune-support blends also open doors.
Restraints:
Botanical ingredients are sensitive to climate and environmental changes. Overharvesting, habitat loss, and climate unpredictable patterns threaten supply. Regulatory barriers and standardization hurdles pose further challenges, as botanical materials can vary widely in composition and quality. Compliance costs can limit entry, especially for smaller companies.
Trends:
Emerging synthetic or biotech-derived alternatives may compete on cost and consistency. Large-scale overfarming could degrade resources and lead to supply shortages. Also, stricter biodiversity and conservation laws may restrict access to certain plant sources, inflating costs or limiting availability.
Market Key Players:
- The Archer-Daniels-Midland Company
- International Flavors& Fragrances, Inc.
- Koninklijke DSM N.V.
- Givaudan
- Carbery Group
- Sidomuncul
- Martin Bauer GmbH & Co. KG
- Bell Flavors & Fragrances
- Lipoid-Kosmetik
- Prakruti Products
- Eu Yan Sang
- Herbanext Laboratories, Inc.
- Ransom Naturals Ltd
- Blue Sky Botanics
- Indesso
- Other Manufacturers
Conclusion: