Global Herbal Extracts Market Research Report
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Global Herbal Extracts Market Research Report
Global Herbal Extracts Market Research Report: Information by Source (Mint, Rosemary, Thyme, Basil, Dill, Lavender, and Others), Form (Liquid/Tinctures, Powders, Essential Oils, and Others), Application (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2024
Key Players: S.A. Herbal Bioactives LLP (India), Herbochem (India), Changsha Langyuan Bio-Tech Co., Ltd (China), Döhler GmbH (Germany), Synthite Industries Private Ltd (India), Kalsec Inc. (US), Naturex SA (France), Organic Herb Inc. (China), Vidya Herbs Pvt Ltd (India), and Mountain Rose Herbs (US) are some of the key players in the global herbal extracts market.
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Global Herbal Extracts Market Research Report
Global Herbal Extracts Market valuation is estimated to reach a valuation USD 13.96 billion by 2023 at a CAGR of 7.52% over the assessment period. A growing trend has been recognized in the past years regarding the adoption of natural and organic sources for medicine. This has encouraged the rising demand for herbal medicines since they cause little to no side-effects. Moreover, herbal extracts are slowly entering into the Food & Beverage industry and gaining more acceptance among consumers due to its offered benefits. With a growing healthy lifestyle, consumers are shifting to herbal extracts in food and beverages since they contribute towards a healthier lifestyle. Skincare products are also expected to play an essential role in the growth of the herbal extracts market. Moreover, high expenditure capacity due to a rising per capita income is also fuelling the demand for herbal extracts market over the review period.
Regional Analysis: Based on the region, the global herbal extract market is segmented into Asia Pacific, Europe, North America, and the Rest of the World (RoW). North America accounts for the biggest market share and is expected to retain its dominant market standing over the forecast period. The region is anticipated to reach 4.7 billion by the end of the forecast period at 2023 at a 7.97% CAGR. The U.S. accounts for the bulk of the market share to be acquired in this region.
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Global Herbal Extracts Market Research Report
Segmentation Global Herbal Extract Market is segmented based on form and application. The forms of herbal extracts available in the market are liquid and dry. The larger market share is acquired by a dry herbal extract form and is expected to reach USD 10.5 billion at a 7.65% CAGR by the end of the review period. Additionally, the liquid market is anticipated to reach USD 3.45 billion by 2023. The applications of herbal extracts include food & beverages, cosmetics & personal care, pharmaceuticals, and others. The pharmaceutical segment accounts for the dominant market share and is expected to reach 5.38 billion by the end of the evaluation period. However, the fastest growing market segment is cosmetics & personal care, which is likely to register a CAGR of around 7.84% during the review period. Intended Audience Herbal extract manufacturers Commercial research and development institutions Industrial processors Raw material suppliers and distributors Retailers, distributors, and wholesalers Traders, exporters, and importers
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Global Herbal Extracts Market Research Report
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Copyright Š 2017 Market Research Future.