Botanicals Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Botanicals Market is By Product Type (Herbs, Spices, Essential Oils, Others (Plant Extracts, Medicinal Plants)), By Application (Food and Beverage, Pharmaceuticals, Cosmetics and Personal Care, Nutraceuticals), By Form (Dry, Liquid, Powder), By Distribution Channel (Direct Sales, Online, Retail, Supermarkets/Hypermarkets, Specialty Stores), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.
Botanicals Market Size
Market Size in USD
CAGR6.5%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 6.5% |
| Market Concentration | High |
| Major Players | DSM, AmbePhytoextracts, Berje, Indesso, Lipoid Kosmetic |
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Botanicals Market Analysis
The Global Botanicals Market is estimated to be valued at USD 112.31 Billion in 2024 and is expected to reach USD 174.10 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Increasing awareness about the medicinal properties and various health benefits of botanicals is driving more consumers to use botanical products. There is rising demand for botanical supplements and ingredients that support immunity, gut health, memory and heart health. Many major personal care and food & beverage brands are focusing on introducing novel product lines containing botanical extracts.
The market is witnessing positive trends like increased R&D activities focused on identifying new botanicals and their properties. Many startups are entering the space and developing innovative products containing natural botanical extracts. The COVID-19 pandemic has further boosted the market as consumers are looking to boost their immunity through botanical products.