Brooklyn, New York, USA, 2021-May-21—/Meridian Market Consultants/— An overview of conceptual frameworks, analytical approaches of the botanical extracts market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The botanical extracts market is expected to grow at a significant rate in the near future.

The global botanical extracts market was valued at US$ 4.5 Bn in 2020 and expected to reach at a value of US$ 8.8 Bn by 2028 with a significant CAGR of 8.8%

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Botanical Extracts Market Definition

Botany refers to another domain of biology that copes with the analysis of plants, comprising their composition, attributes, and biochemical procedures. It further involves plant categorization and the scrutiny of plant illness and of synergies with the environment. Similarly, botanical extracts can be comprehended as plant-based products that are used for their remedial or medicinal properties, scent, and/or flavor. The plant-based extracts are basically derived from the plants, precisely from their barks, roots, leaves, stems, flowers, and fruits. As a matter of fact, these botanical extracts are serving great utility in the pharmaceutical as well as the cosmetic industry in recent times, owing to their therapeutic properties.

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Botanical Extracts Market Dynamics

The expeditiously growing demand of botanical extracts in the cosmetics, as well as pharmaceutical industries all across the world, is one of the major factors that is projected to boost the growth of the global botanical extracts market in the years to come. By the same token, the beneficial attributes of the botanical extracts including medicinal properties and therapeutic oils, scents, or flavors that are proven to be safe and effective for the well-being of humans, further propels its demand across the global markets. Owing to which, the global botanical extracts market is expected to rise substantially over the forecast period. In addition to that, the dramatic shift of population, worldwide, towards natural products as more and more consumers are getting aware of the benefits of plant-based products and resultantly, pursuing effective and safe adulterants as cosmetics or medicinal products for their comfort and wellness, is also acting as a positive factor for the growth of the global botanical extracts market over the forecast period.

Botanical Extracts Market Segmentation

The global botanical extracts market is segmented on the basis of source, application, form and region. The source segment of the botanical extracts market is divided into spices, herbs, flowers, roots, fruits, leaves and seeds. On the basis of application, the market is segmented into the food and beverages industry and cosmetics industry. Then, the food and beverage industry is further divided into bakery & confectionery and sauces & dressings, alcoholic beverages, carbonated soft drinks, ice tea, and flavored dairy products. The cosmetics industry is further segmented into skin rejuvenation and regeneration products, age defying products and others. Lastly, on the basis of form, the market is bifurcated into liquid, powder, and semi-solid.

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