Botanical Market - Share, Size & Global Industry Analysis 2024-2032

Botanical Market Synopsis:

Botanical Market Size Was Valued at USD 112.4 Billion in 2023 and is Projected to Reach USD 199.8 Billion by 2032, Growing at a CAGR of 6.6% From 2024-2032.

The botanical market is associated with the production, processing, and distribution of plant-derived products. They are obtained from different aerial and sub-aerial parts of the plants such as leaves, stems, roots, flowers, and seeds. Herbs mostly when used incorporate health and nutritional values as well as being functional. They are used routinely in food supplements, cosmetics, processed foods, drinks, and other personal care items. With consumers’ demand for natural and organic products increasing, botanicals remain a strong driver of this market as a major segment of the global wellness and health industry.

The global botanical market is expanding at a good pace as consumers believe in natural and plant-based products for health and well-being. The enhanced consciousness of the prospect’s health advantages of botanicals, including immunological upgrade/boost, anti-inflammatory character, and antioxidant capacity, will contribute to higher demand for botanicals in numerous areas. Today’s consumers want natural products and medical solutions through food and beverages, supplements, and skin products, all of which lead to more demand for botanicals in every sector. Also, the increasing acceptance of many botanicals’ health benefits because of received regulatory approvals and scientific ratifications are also expanding the market prospects.

The market is also continuing to be driven by the global trends of the public conscious and indulging in green products. Clean label ingredients where the consumer searches for ingredient authenticity and simpler manufacturing processes have added to the demand of botanicals. The food and beans, cosmetic, and personal care sectors are expanding their application of botanicals to products as customers refuse chemical substances and preservatives. In addition, the development of botanical research and development continues to grow and has provided the opportunity for new markets and creativity for new and different products derived from plants.

Botanical Market Trend Analysis:

Growing Demand for Clean Label Products

• One of the major factors to keep taking shape in the botanical market is the clean label. Ms are getting conscious with their health and the environment, and shift demanding natural and minimally processed food with no additives. This trend is especially apparent in the food and beverage industry as botanical ingredients are used to add flavor, to act as functional ingredients and to add nutritional value. As expected, clean label demand is also affecting cosmetics and personal care industries because botanical extracts offer multiple benefits such as anti-aging, moisturization and healing effects. Clean label products will remain relevant and influential in future growth of the botanical market.

Expanding Use of Botanicals in Functional Foods and Beverages

• Opportunities in the botanical market are virtually limitless especially in functional foods and beverages. There are more and more people who focus on healthy eating and thus the intake of the functional foods and beverages rise substantially. Herbs like ginseng, turmeric, ginger and green tea extracts form a part of the popularity list and are being used in ferments like tea, juices and energy drinks. Further backed from the increasing consumer demand of dietary supplements and nutraceuticals, botanicals that improve the immune, digestive, and cognitive performance. The market for botanical in functional food and beverage industry is expected to become another major growth segment in the next few years.

Botanical Market Segment Analysis:

Botanical Market is Segmented on the basis of Source, Application, and Region

By Source, Herbs segment is expected to dominate the market during the forecast period

• Depending on the source, the herbs segment is anticipated to represent the largest growth in the botanical market over the projection period. Flavoring plants such as basil, mint, rosemary, and thyme have been well-known over the years for their use in cooking and for medicinal purposes, and they remain among the most important of botanicals. All these herbs are endowed with essential oils, antioxidants and vitamins that makes them perfect ingredients in both food and health related products. The herbs segment has wide variety application not only limited in the culinary field but also it is used more in the pharmaceutical and cosmetics sectors. People are now increasingly looking for natural products to treat illnesses and diseases; herbal products are thus experiencing a remarkable trend. Since research on the health benefits of herb continues to be carried out, this segment is predicted to remain in the leading position within the market.

By Application, Food and Beverages segment expected to held the largest share

• According to the application, the food and beverages segment is anticipated to be the largest part of the botanical market in the forthcoming years. Botanicals have therefore assume a major role in the formulation of better, healthy, and added value food and beverages. Turmeric powders and ginger extracts, chamomile flowers, and several kinds of herbal teas are employed for their medical values like anti-inflammatory and antioxidant agents and health beneficial digestion procedure. New categories of consumers interested in natural ingredients search for botanical enhanced alcohol-free beverages such as herbal teas, flavoured waters and energy drinks. Therefore, the trend of increased veganism and plant-based products is also increasing the utilization of botanical ingredients in food products and thus delivering major market prospects.

Botanical Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• The market share holder of the botanical production in 2023 is anticipated to be the Asia-Pacific region majorly due to its long standing history in the use of herbal remedies together with floods of botanical compositions. Today, China, India and Japan and their historical usage of botanicals for medical, culinary and pharmaceutical usage catalyses the market’s growth. The markets for botanical products are also expected to grow due to the increasing demand for natural health products, the increase in class B and C consumers in these countries. This region is believed to account for about 35-40% of the global botanical market, originating mainly from China because of its strengths in manufacturing and exporting botanical extracts.

Active Key Players in the Botanical Market:

• Aloecorp Inc. (USA)
• Bio-Botanica Inc. (USA)
• Döhler GmbH (Germany)
• Frutarom Industries Ltd. (Israel)
• Fytosan S.A. (Argentina)
• Gaia Herbs (USA)
• Herbalife International (USA)
• Indena S.p.A. (Italy)
• Kalsec Inc. (USA)
• Kingherbs Ltd. (China)
• Martin Bauer Group (Germany)
• Naturex (France)
• Nutraceutical International Corporation (USA)
• Synergy Flavors (USA)
• The Green Labs LLC (USA)
• Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Botanical Market by Source
 4.1 Botanical Market Snapshot and Growth Engine
 4.2 Botanical Market Overview
 4.3 Herbs
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Herbs: Geographic Segmentation Analysis
 4.4 Leaves
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Leaves: Geographic Segmentation Analysis
 4.5 Spices
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Spices: Geographic Segmentation Analysis
 4.6 Flowers
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Flowers: Geographic Segmentation Analysis
 4.7 Other Sources
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Other Sources: Geographic Segmentation Analysis

Chapter 5: Botanical Market by Application
 5.1 Botanical Market Snapshot and Growth Engine
 5.2 Botanical Market Overview
 5.3 Food and Beverages
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Food and Beverages: Geographic Segmentation Analysis
 5.4 Dietary Supplements
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Dietary Supplements: Geographic Segmentation Analysis
 5.5 Animal Feed
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Animal Feed: Geographic Segmentation Analysis
 5.6 Other
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Other: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Botanical Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions  
 6.2 ALOECORP INC. (USA)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 BIO-BOTANICA INC. (USA)
 6.4 DÖHLER GMBH (GERMANY)
 6.5 FRUTAROM INDUSTRIES LTD. (ISRAEL)
 6.6 FYTOSAN S.A. (ARGENTINA)
 6.7 GAIA HERBS (USA)
 6.8 HERBALIFE INTERNATIONAL (USA)
 6.9 INDENA S.P.A. (ITALY)
 6.10 KALSEC INC. (USA)
 6.11 KINGHERBS LTD. (CHINA)
 6.12 MARTIN BAUER GROUP (GERMANY)
 6.13 NATUREX (FRANCE)
 6.14 NUTRACEUTICAL INTERNATIONAL CORPORATION (USA)
 6.15 SYNERGY FLAVORS (USA)
 6.16 THE GREEN LABS LLC (USA)
 6.17 OTHER ACTIVE PLAYERS

Chapter 7: Global Botanical Market By Region
 7.1 Overview
 7.2. North America Botanical Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Source
  7.2.4.1 Herbs
  7.2.4.2 Leaves
  7.2.4.3 Spices
  7.2.4.4 Flowers
  7.2.4.5 Other Sources
  7.2.5 Historic and Forecasted Market Size By Application
  7.2.5.1 Food and Beverages
  7.2.5.2 Dietary Supplements
  7.2.5.3 Animal Feed
  7.2.5.4 Other
  7.2.6 Historic and Forecast Market Size by Country
  7.2.6.1 US
  7.2.6.2 Canada
  7.2.6.3 Mexico
 7.3. Eastern Europe Botanical Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Source
  7.3.4.1 Herbs
  7.3.4.2 Leaves
  7.3.4.3 Spices
  7.3.4.4 Flowers
  7.3.4.5 Other Sources
  7.3.5 Historic and Forecasted Market Size By Application
  7.3.5.1 Food and Beverages
  7.3.5.2 Dietary Supplements
  7.3.5.3 Animal Feed
  7.3.5.4 Other
  7.3.6 Historic and Forecast Market Size by Country
  7.3.6.1 Russia
  7.3.6.2 Bulgaria
  7.3.6.3 The Czech Republic
  7.3.6.4 Hungary
  7.3.6.5 Poland
  7.3.6.6 Romania
  7.3.6.7 Rest of Eastern Europe
 7.4. Western Europe Botanical Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Source
  7.4.4.1 Herbs
  7.4.4.2 Leaves
  7.4.4.3 Spices
  7.4.4.4 Flowers
  7.4.4.5 Other Sources
  7.4.5 Historic and Forecasted Market Size By Application
  7.4.5.1 Food and Beverages
  7.4.5.2 Dietary Supplements
  7.4.5.3 Animal Feed
  7.4.5.4 Other
  7.4.6 Historic and Forecast Market Size by Country
  7.4.6.1 Germany
  7.4.6.2 UK
  7.4.6.3 France
  7.4.6.4 The Netherlands
  7.4.6.5 Italy
  7.4.6.6 Spain
  7.4.6.7 Rest of Western Europe
 7.5. Asia Pacific Botanical Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Source
  7.5.4.1 Herbs
  7.5.4.2 Leaves
  7.5.4.3 Spices
  7.5.4.4 Flowers
  7.5.4.5 Other Sources
  7.5.5 Historic and Forecasted Market Size By Application
  7.5.5.1 Food and Beverages
  7.5.5.2 Dietary Supplements
  7.5.5.3 Animal Feed
  7.5.5.4 Other
  7.5.6 Historic and Forecast Market Size by Country
  7.5.6.1 China
  7.5.6.2 India
  7.5.6.3 Japan
  7.5.6.4 South Korea
  7.5.6.5 Malaysia
  7.5.6.6 Thailand
  7.5.6.7 Vietnam
  7.5.6.8 The Philippines
  7.5.6.9 Australia
  7.5.6.10 New Zealand
  7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Botanical Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Source
  7.6.4.1 Herbs
  7.6.4.2 Leaves
  7.6.4.3 Spices
  7.6.4.4 Flowers
  7.6.4.5 Other Sources
  7.6.5 Historic and Forecasted Market Size By Application
  7.6.5.1 Food and Beverages
  7.6.5.2 Dietary Supplements
  7.6.5.3 Animal Feed
  7.6.5.4 Other
  7.6.6 Historic and Forecast Market Size by Country
  7.6.6.1 Turkiye
  7.6.6.2 Bahrain
  7.6.6.3 Kuwait
  7.6.6.4 Saudi Arabia
  7.6.6.5 Qatar
  7.6.6.6 UAE
  7.6.6.7 Israel
  7.6.6.8 South Africa
 7.7. South America Botanical Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Source
  7.7.4.1 Herbs
  7.7.4.2 Leaves
  7.7.4.3 Spices
  7.7.4.4 Flowers
  7.7.4.5 Other Sources
  7.7.5 Historic and Forecasted Market Size By Application
  7.7.5.1 Food and Beverages
  7.7.5.2 Dietary Supplements
  7.7.5.3 Animal Feed
  7.7.5.4 Other
  7.7.6 Historic and Forecast Market Size by Country
  7.7.6.1 Brazil
  7.7.6.2 Argentina
  7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research