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.