Kenneth Research, in its repository of market research reports, has recently added a report on Botanical Extracts Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Botanical Extracts Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Botanical Extracts Market products.
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The global Botanical Extracts Market was valued at USD 3.58 billion in 2016 and is projected to reach USD 7.59 billion by 2025, growing at a CAGR of 8.7% from 2017 to 2025.
Botanical Extracts are extracts are herbal-product ingredients that can be of different types. Herbal extract is the result of a solvent acting on plant material and dissolving some of its components. That solution, once separated from the insoluble plant materials, is the extract that can be left in liquid form, or the liquid removed to produce a solid extract.
1. Market Drivers
1.1 Growing awareness about the importance of plant-based products
1.2 Growing demand from the food & beverage industry
2. Market Restraints
2.1 Natural resource depletion
2.2 Availability of synthetic products
The global Botanical Extracts Market is segmented on the basis of form, source, application, and region.
1. Global Botanical Extracts Market, by Form:
2. Global Botanical Extracts Market, by Source:
2.4 Tea Leaves
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3. Global Botanical Extracts Market, by Application:
3.3 Bakery & Confectionery
3.5 Carbonated soft drinks
3.6 Iced Teas
3.7 Alcoholic beverages
3.8 Flavored Dairy products
3.10 Cosmetic & personal care
4. Global Botanical Extracts Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Mb-Holding GmbH & Co. Kg
2. Kuber Impex Ltd.
3. Nutra Green Biotechnology Co., Ltd
4. BI Nutraceuticals
5. Döhler GmbH
6. Synthite Industries Ltd.
7. Kalsec Inc.
8. Haldin Natural
9. Synergy Flavors
10. Pt. Indesso Aroma
11. Prinova Group LLC.
12. Ransom Naturals Ltd
13. Blue Sky Botanics Ltd
14. Frutarom Industries Ltd.
15. Futureceuticals, Inc.
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.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Botanical Extracts Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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