Seattle, WA -- (SBWIRE) -- 11/06/2019 -- In the recent past years there has been a rapid shift from synthetic products towards more natural and organic products as growing number of consumers seek products that are safe and effective. Botanical extract can be derived from a number of plants or botanical source and is defined as a complex, multi component mixture consisting of a bio-active compound obtained by solvent extraction technique. In other words, botanical extracts are herbal products ingredient and are present in dry, liquid or semi-solid form. Botanical extracts are used in widespread applications across food and beverages industry and cosmetic industry.
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Market Definition: Global Botanical Extracts Market Any drug or pesticide that is made or extracted from parts of plants is referred to as botanical extracts there is a growing demand for global botanical in pharmaceutical and cosmetic sectors, which is expected to be one of the major drivers of the market over the next coming years.
According to a journal published by European Society of Biochemical Engineering Services, the global market for botanicals market registered a value of USD XX Billion in 2023. The functional food & supplements segment is expected to register a market share of XX% and cosmetics segment is registering market share of XX%. The use of botanical extracts is increasing in cosmetic application and is mainly referred as "active" extracts.
Germany, France and Italy are the major countries in European botanical extract market. According to COMTRADE database, France imported approximately 8,000 tons of extracts in 2014. The regulations in the supplement market such as Health Claim Regulation by EFSA has resulted in reduced innovations in the botanical extract products in European region.
Competitive Landscape: Global Botanical Extracts Market The Global Botanical Extracts Market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Botanical Extracts Market
Some of the Major Players in Global Botanical Extracts Market are Organic Herb Inc., Plant Extracts International Inc, Lehmann & Voss & Co., MB-Holding GmbH & Co.KG, Kalsec Inc, Alkaloids Corporation, Nantong Sihai Plant Extracts Co., Ltd, Prinova Group, K Patel Group and Indena USA Inc. Frutarom Ransom Natural Ltd, and many more.
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