The global botanical extracts market size is anticipated to reach USD 9.62 billion by 2028 and exhibit a CAGR of 9.6% during the forecast period. The increasing awareness of herbal products’ health benefits and the growing demand for convenience food products are likely to be the key factors boosting the market growth. Fortune Business InsightsTM has presented this information in its report titled, “Botanical Extracts Market, 2021-2028”. The market size stood at USD 4.65 billion in 2020 and USD 5.05 billion in 2021.

Additionally, the rising demand for clean-label food products due to the growing health consciousness among consumers is projected to be a key trend stimulating the market growth.

COVID-19 Impact-

COVID-19 Disrupted the Supply Chains

The market has witnessed unparalleled devastation from the coronavirus pandemic’s swift spread. Lockdowns and curfews implemented to curb the virus spread caused a supply crunch and resulted in raw material price fluctuations. This negatively impacted the market growth. The shutdown of the end-use industry’s manufacturing facilities aggravated the situation. Nonetheless, the growing consumer consciousness for maintaining optimal health during the pandemic is stimulating growth, and the market is likely to expand in the forthcoming years.

List of Key Market Players:

International Flavors & Fragrances (New York, U.S.)
Kalsec Inc. (Michigan, U.S.)
Dohler GmbH (Darmstadt, Germany)
Nexira (New Jersey, U.S.)
Haldin Natural (Jakarta, Indonesia)
Synthite Industries (Kochi, India)
MB-Holding GmbH & Co. KG (Bayern, Germany)
Synergy Flavors (Illinois, U.S.)
Blue Sky Botanics (Ross-on-Wye, U.K.)
Fytosan (Die, France)
Segments-

Source, Technology, Application, and Region are Studied

On the basis of source, the market is fragmented into spices, herbs, flowers, leaves, and others. On the basis of technology, the market is segmented into enfleurage, steam distillation, solvent extraction, CO2 extraction, and others. On the basis of application, the market is trifurcated into cosmetics, pharmaceutical and nutraceutical, and food & beverages. Geographically, the market is classified into South America, North America, Europe, Asia Pacific, and the Middle East & Africa.

Browse Complete Report Summary:

https://www.fortunebusinessins....ights.com/botanical-