Any drug or pesticide that is made or extracted from parts of plants is referred to as botanical extracts. Demand for botanical extracts is registering steady growth, particularly in pharmaceutical and cosmetic sectors. Increasing awareness regarding the side effects of allopathic medicines together with the growing awareness about therapeutic effects and medicinal benefits of herbal products is driving the growth of global botanical extracts market. The long shelf life of botanical extracts along with its sudden reaction has led to an increase in demand for botanical extracts in the pharmaceutical industry. Functional food segment and self-medication are expected to drive the global botanical extracts market during the forecast period. Use of botanical extracts for weight management, anti-aging, joint & bone health, and digestion, among others, is identified to be a prominent trend in the global market.
Spices are the largest source of botanical extracts and the segment accounts for the largest share in the global botanical extracts market. It finds significant application in the food and beverage industry. The powder segment is expected to account for a significant market share during the forecast period. Rising trend of exploring new cuisines and growing demand for healthy food will propel the demand for botanical extracts in the food industry.
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Manufacturers of botanical extracts are introducing technologies related to extraction methods to expand their portfolio. In April 2017, BOTANIEX, one of the key companies in botanical extracts market introduced a patented cost-effective technology for extracting L-Theanine from green tea, which provides the beverage and supplement industry with an affordable natural ingredient.
Some of the key players in the global botanical extracts market are Frutarom, Ransom Natural Ltd, PT. INDESSO AROMA, Blue Sky Botanics Ltd., Haldin, Dohler, Nutra Green Biotechnology Co. Ltd., Jairamdass Khushiram Impex Pvt. Ltd., Organic Herb Inc., Fytosan, FutureCeuticals, Nexira, Green Source Organics, Acumen Lifesciences, Arjuna Natural Extracts Ltd., Prinova Group LLC, Synergy Flavors, Kalsec Inc., and Synthite Industries Ltd.
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