HOME Top Market Reports Botanical Extracts Market by Source (Spices, Herbs, Flowers, Tea leaves), Application (Food: Bakery & Confectionery and Sauces & Dressings, Beverages: Alcoholic Beverages, Carbonated Soft Drinks, Ice Tea), Form, and Region - Global Forecast to 2022

Botanical Extracts Market by Source (Spices, Herbs, Flowers, Tea leaves), Application (Food: Bakery & Confectionery and Sauces & Dressings, Beverages: Alcoholic Beverages, Carbonated Soft Drinks, Ice Tea), Form, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: June 2017
Report Code: FB 5332

 

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The global botanical extracts market is estimated to be valued at USD 3.92 Billion in 2017, and projected to reach USD 6.03 Billion by 2022, at a CAGR of 9.0% from 2017. Growth in the market can be attributed to the rising demand for natural flavors in food application. Rise in awareness of side effects of using artificial flavors in food & beverages, coupled with increased awareness of botanical extracts among consumers are some other key drivers.

The global market has been segmented on the basis of source, application, form, and region. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The main objectives of the report are to define, segment, and project the size of the global botanical extracts market with respect to the above-mentioned segmentations and provide a detailed study of the key factors influencing the growth of the market, along with profiling the key players in the market and their core competencies.

Years considered for this report are as follows:

Base Year: 2016
Projection Period: 2017–2022

Research Methodology

This report includes estimations of market sizes for value (USD million), with the base year as 2016, and forecast period from 2017 to 2022. Top-down and bottom-up approaches have been used to estimate and validate the size of the botanical extracts market and those of various other dependent submarkets. Key players in the market have been identified through secondary research such as the Food and Agriculture Organization (FAO), U.S. Department of Agriculture (USDA), International Food and Agribusiness Management (IFAM), and World Health Organization (WHO), while their market share in the respective regions have been determined through primary and secondary research processes. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

Botanical Extracts Market

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The key players in the botanical extracts market include Frutarom Ltd. (Israel), Kalsec Inc (U.S.), and Dφhler GmbH (Germany). Other players include MB-Holding GmbH & Co. KG (Germany), Synergy Flavors (U.S.), and Blue Sky Botanics (U.K.).

The botanical extracts value chain includes extracts manufacturers such as Frutarom Ltd (Israel), Kalsec Inc (U.S.), and Dφhler GmbH (Germany). Other players include MB-Holding GmbH & Co. KG (Germany), Synergy Flavors (U.S.) and Blue Sky Botanics (U.K.). Further, the extracts manufactured by these companies are used in the food industry by bakery & confectionery and sauce & dressing companies; within beverage industry, it is used by companies involved with alcoholic beverages, carbonated soft drinks, ice teas, and flavored dairy products.

Target Audience

The stakeholders for the report include the following:

  • Raw material suppliers
  • Associations & industry bodies
  • Processed food manufacturers
  • End users (food & beverage manufacturers)
  • Botanical extract manufacturers
  • Traders, distributors, and suppliers

“The study answers several questions for stakeholders primarily, which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report

The botanical extracts market has been segmented on the basis of the following:

Source:

  • Spices
  • Herbs
  • Tea leaves
  • Flowers

Application:

  • Food
    • Bakery & Confectionery
    • Sauces and Dressings
  • Beverages
    • Alcoholic beverages
    • Carbonated soft drinks
    • Iced teas
    • Flavored dairy products

Form:

  • Powder
  • Liquid

Region:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW) (South America, Middle East and Africa)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Periodization Considered
    1.4 Currency Considered
    1.5 Units Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Market Opportunities for Botanical Extract Manufacturers
    4.2 Botanical Extracts Market, By Region
    4.3 Market, By Source & Region
    4.4 Botanical Extracts Market Attractiveness

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increase in the Demand for Convenience Food
                    5.2.1.2 Rise in Awareness Regarding the Side-Effects of Synthetic Flavors
                    5.2.1.3 Growth of the Clean Label Trend Across Food & Beverage Markets
                    5.2.1.4 Increase in Application of Botanical Extracts
           5.2.2 Restraints
                    5.2.2.1 Availability of Substitutes
           5.2.3 Opportunities
                    5.2.3.1 Identifying and Marketing New Spices and Herbs in Accordance With the Changing Consumption Trends
           5.2.4 Challenges
                    5.2.4.1 Limited Or Inadequate Supply and Varying Prices of Herbs & Spices
    5.3 Regulations and Standardization in Botanical Extract Market
           5.3.1 Introduction
           5.3.2 North America
                    5.3.2.1 U.S. Food and Drug Administration
           5.3.3 Europe
                    5.3.3.1 European Food Safety Authority
           5.3.4 Asia-Pacific
                    5.3.4.1 Food Standards Australia New Zealand
                    5.3.4.2 Food Safety and Standards Authority of India

6 Botanical Extracts Market, By Source (Page No. - 38)
    6.1 Introduction
           6.1.1 Spices
           6.1.2 Herbs
           6.1.3 Flowers
           6.1.4 Tea Leaves

7 Botanical Extracts Market, By Form (Page No. - 42)
    7.1 Introduction
           7.1.1 Powder
           7.1.2 Liquid

8 Botanical Extracts Market, By Application (Page No. - 45)
    8.1 Introduction
           8.1.1 Food
                    8.1.1.1 Bakery & Confectionery
                    8.1.1.2 Sauces & Dressings
           8.1.2 Beverages
                    8.1.2.1 Alcoholic Beverages
                    8.1.2.2 Carbonated Soft Drinks
                    8.1.2.3 Ice Tea
                    8.1.2.4 Flavored Dairy Products

9 Botanical Extracts Market, By Region (Page No. - 51)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 France
           9.3.3 U.K.
           9.3.4 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 Australia & New Zealand
           9.4.5 Rest of Asia-Pacific
    9.5 Rest of the World (RoW)
           9.5.1 South America
           9.5.2 The Middle East
           9.5.3 Africa

10 Competitive Landscape (Page No. - 80)
     10.1 Introduction
     10.2 Vendor Dive Analysis
             10.2.1 Vanguard
             10.2.2 Innovator
             10.2.3 Dynamic
             10.2.4 Emerging
     10.3 Competitive Benchmarking
             10.3.1 Product Offering Scorecard (For 25 Players)
             10.3.2 Business Strategy Scorecard (For 25 Players)

*Top 25 Companies Analyzed for This Study are – Frutarom Ltd. (Israel), Blue Sky Botanics (U.K), Ransom Naturals Ltd (U.K), Prinova Group LLC, Pt. Indesso Aroma (Indonesia), Synergy Flavors (U.S.), Haldin Natural (Indonesia), Kalsec Inc (U.S.), Synthite Industries (India), Dφhler GmbH (Germany), BI Nutraceuticals (U.S.), Nutra Green Biotechnology (China), Kuber Impex Ltd (India), Greenvit (Poland), Mb-Holding GmbH & Co. Kg (Germany), Inovia International (U.K), Green Source Organics (U.S.), Changsha Botaneix, Inc (China), Organic Herb Inc (China), Arjuna Natural Extracts Ltd (India), Nexira (France), Jairamdass Khushiram Impex Pvt. Ltd (India), Futureceuticals, Inc. (U.S.), Fytosan (France), Acumen Life Sciences (India)

11 Company Profiles (Page No. - 84)
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     11.1 Introduction
     11.2 Frutarom Industries Ltd.
     11.3 Blue Sky Botanics Ltd
     11.4 Ransom Naturals Ltd
     11.5 Prinova Group LLC.
     11.6 Pt. Indesso Aroma
     11.7 Synergy Flavors
     11.8 Haldin Natural
     11.9 Kalsec Inc.
     11.10 Synthite Industries Ltd.
     11.11 Dφhler GmbH
     11.12 BI Nutraceuticals
     11.13 Nutra Green Biotechnology Co., Ltd
     11.14 Kuber Impex Ltd.
     11.15 Mb-Holding GmbH & Co. Kg

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 120)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (60 Tables)

Table 1 Botanical Extracts Market Size, By Source, 2015–2022 (USD Million)
Table 2 Market Size, By Source, 2015–2022 (Tons)
Table 3 Botanical Extracts Market Size, By Form, 2015–2022 (USD Million)
Table 4 Market Size, By Form, 2015–2022 (Tons)
Table 5 Botanical Extracts Market Size, By Application, 2015–2022 (USD Million)
Table 6 Market Size, By Application, 2015–2022 (Tons)
Table 7 Botanical Extracts Market Size, By Food Sub-Application, 2015–2022 (USD Million)
Table 8 Market Size, By Food Sub-Application, 2015–2022 (Tons)
Table 9 Botanical Extracts Market Size, By Beverage Sub-Application, 2015–2022 (USD Million)
Table 10 Market Size, By Beverage Sub-Application, 2015–2022 (Tons)
Table 11 Botanical Extracts Market Size, By Region, 2015–2022 (USD Million)
Table 12 Market Size, By Region, 2015–2022 (Tons)
Table 13 North America: Botanical Extracts Market Size, By Country, 2015–2022 (USD Million)
Table 14 North America: Market Size, By Country, 2015–2022 (Tons)
Table 15 North America: Botanical Extracts Market Size, By Source, 2015–2022 (USD Million)
Table 16 North America: Market Size, By Source, 2015–2022 (Tons)
Table 17 North America: Botanical Extracts Market Size, By Application, 2015–2022 (USD Million)
Table 18 North America: Market Size, By Application, 2015–2022 (Tons)
Table 19 North America: Botanical Extracts Market Size, By Food Sub-Application, 2015–2022 (USD Million)
Table 20 North America: Market Size, By Food Sub-Application, 2015–2022 (Tons)
Table 21 North America: Botanical Extracts Market Size, By Beverage Sub-Application, 2015–2022 (USD Million)
Table 22 North America: Market Size, By Beverage Sub-Application, 2015–2022 (Tons)
Table 23 North America: Botanical Extracts Market Size, By Form, 2015–2022 (USD Million)
Table 24 North America: Market Size, By Form, 2015–2022 (Tons)
Table 25 Europe: Botanical Extracts Market Size, By Country, 2015–2022 (USD Million)
Table 26 Europe: Market Size, By Country, 2015–2022 (Tons)
Table 27 Europe: Botanical Extracts Market Size, By Source, 2015–2022 (USD Million)
Table 28 Europe: Market Size, By Source, 2015–2022 (Tons)
Table 29 Europe: Botanical Extracts Market Size, By Application, 2015–2022 (USD Million)
Table 30 Europe: Market Size, By Application, 2015–2022 (Tons)
Table 31 Europe: Botanical Extracts Market Size, By Food Sub-Application, 2015–2022 (USD Million)
Table 32 Europe: Market Size, By Food Sub-Application, 2015–2022 (Tons)
Table 33 Europe: Botanical Extracts Market Size, By Beverage Sub-Application, 2015–2022 (USD Million)
Table 34 Europe: Market Size, By Beverage Sub-Application, 2015–2022 (Tons)
Table 35 Europe: Botanical Extracts Market Size, By Form, 2015–2022 (USD Million)
Table 36 Europe: Market Size, By Form, 2015–2022 (Tons)
Table 37 Asia-Pacific: Botanical Extracts Market Size, By Country, 2015–2022 (USD Million)
Table 38 Asia-Pacific: Market Size, By Country, 2015–2022 (Tons)
Table 39 Asia-Pacific: Botanical Extracts Market Size, By Source, 2015–2022 (USD Million)
Table 40 Asia-Pacific: Market Size, By Source, 2015–2022 (Tons)
Table 41 Asia-Pacific: Botanical Extracts Market Size, By Application, 2015–2022 (USD Million)
Table 42 Asia-Pacific: Market Size, By Application, 2015–2022 (Tons)
Table 43 Asia-Pacific: Botanical Extracts Market Size, By Food Sub-Application, 2015–2022 (USD Million)
Table 44 Asia-Pacific: Market Size, By Food Sub-Application, 2015–2022 (Tons)
Table 45 Asia-Pacific: Botanical Extracts Market Size, By Beverage Sub-Application, 2015–2022 (USD Million)
Table 46 Asia-Pacific: Market Size, By Beverage Sub-Application, 2015–2022 (Tons)
Table 47 Asia-Pacific: Botanical Extracts Market Size, By Form, 2015–2022 (USD Million)
Table 48 Asia-Pacific: Market Size, By Form, 2015–2022 (Tons)
Table 49 RoW: Botanical Extracts Market Size, By Region, 2015–2022 (USD Million)
Table 50 RoW: Market Size, By Region, 2015–2022 (Tons)
Table 51 RoW: Botanical Extracts Market Size, By Source, 2015–2022 (USD Million)
Table 52 RoW: Market Size, By Source, 2015–2022 (Tons)
Table 53 RoW: Botanical Extracts Market Size, By Application, 2015–2022 (USD Million)
Table 54 RoW: Market Size, By Application, 2015–2022 (Tons)
Table 55 RoW: Botanical Extracts Market Size, By Food Sub-Application, 2015–2022 (USD Million)
Table 56 RoW: Market Size, By Food Sub-Application, 2015–2022 (Tons)
Table 57 RoW: Botanical Extracts Market Size, By Beverage Sub-Application, 2015–2022 (USD Million)
Table 58 RoW: Market Size, By Beverage Sub-Application, 2015–2022 (Tons)
Table 59 RoW: Botanical Extracts Market Size, By Form, 2015–2022 (USD Million)
Table 60 RoW: Market Size, By Form, 2015–2022 (Tons)


List of Figures (24 Figures)

Figure 1 Market Segmentation
Figure 2 Botanical Extracts Market: Regional Segmentation
Figure 3 Botanical Extracts Market: Research Design
Figure 4 Breakdown of Primaries, By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation & Methodology
Figure 8 Beverages Segment Projected to Be the Fastest-Growing
Figure 9 Botanical Extracts Snapshot (2017 vs 2022): Spices Segment, By Source, Projected to Be the Largest During the Forecast Period
Figure 10 Botanical Extracts Snapshot (2017 vs 2022): Powder Segment Projected to Be Relatively Larger
Figure 11 North America Dominated the Botanical Extracts Market in 2016
Figure 12 Attractive Growth Opportunities in the Botanical Extracts Market for Manufacturers Between 2017 & 2022
Figure 13 Botanical Extracts Market: Europe to Grow at the Highest Rate From 2017 to 2022
Figure 14 Spice Extracts Segment Dominated the Botanical Extracts Market Across All Regions in 2017, in Terms of Value
Figure 15 Japan is Projected to Be the Fastest-Growing Country-Level Market
Figure 16 Botanical Extracts Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Botanical Extracts Market Size, By Source, 2017–2022 (USD Million)
Figure 18 Market Size, By Form, 2017–2022 (USD Million)
Figure 19 Market Size, By Application, 2017–2022 (USD Million)
Figure 20 Geographic Snapshot: U.K. Projected to Grow at the Highest Rate in the European Botanical Extracts Market, 2017–2022
Figure 21 North American Botanical Extracts Market Snapshot: U.S. Accounted for the Largest Market Share
Figure 22 European Botanical Extracts Market Snapshot: Germany Accounted for the Largest Share
Figure 23 Dive Chart
Figure 24 Frutarom Industries Ltd.: Company Snapshot

The botanical extracts market is projected to grow at a CAGR of 9.0%, in terms of value, from 2017 to reach USD 6.03 Billion by 2022. Botanical extracts are widely used ingredients in food & beverage applications owing to their functional properties. Also, the growing demand for natural & nutritious products has increased the demand for botanical extracts in the food & beverage industry.

The global market has been segmented by source into spices, herbs, tea leaves, and flowers. Spice extracts have emerged as the most widely used, owing to changes in lifestyles and growth in the trend of exploring & experiencing new foods. Some of the spices include cinnamon, pepper, clove, fennel, cumin, cardamom, coriander, and tamarind.

Based on form, the powder segment is estimated to account for a major share in 2017. The demand for powdered botanical extracts is driven by its wide range of applications such as meat, dairy, and bakery & confectionery to develop the desired aroma and taste. Better stability than in liquid botanical extracts and increased shelf life are some of the other key drivers for this form.

The food application segment is estimated to account for a larger market share in 2017, with the beverage application projected to grow at a higher CAGR. The food segment is subsegmented into bakery & confectionery and sauces & dressings. The beverage application is subsegmented into alcoholic beverages, carbonated soft drinks, iced tea, and flavored dairy products. The flavored dairy products segment is projected to grow at the highest CAGR, owing to demand for flavored milk and flavored yogurt among consumers, these days.

North America is estimated to account for the largest share of the global botanical extracts market, in terms of both value and volume, in 2017. Growth in this region can be attributed to the shift in consumer preference for fat-free & nutritious food and rise in acceptance for exotic foods & flavors. Rise in consumer awareness regarding the benefits of consumption of food & beverages that include botanical extracts, without compromising on the flavor of the products is also boosting the botanical extracts business in the region.

Botanical Extracts Market

The availability of substitute products in the form of synthetic flavors is the main restraint for the market; this is largely due to the advantages associated with synthetic flavors such as lower prices compared to spices and herbs, uniform & consistent quality, and ease of use in contrast to natural products.

The leading players that dominated the botanical extracts market include Frutarom Industries Ltd (Israel), Dφhler GmbH (Germany), and Kalsec Inc (U.S.).

The key players have been exploring the market in new regions by adopting acquisitions, expansions, and partnerships as their preferred strategies. They have been investing in intensive R&D activities and also adopting expansions and acquisitions, as a mode to enhance their product offerings and capture a larger market share, thus increasing the demand for botanical extracts.

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