Botanicals are defined as dried and fresh plants, collective or isolated chemical components of plants, plants parts extracted in ethanol, water or some other organic solvents.
According to the Future Market Insights’ latest report on global food botanicals market, the market is likely to witness sluggish growth over the forecast period (2017-2026). The global market for food botanicals is anticipated to bring US$ 1538.534 Bn revenues by the end of forecast period.
Botanicals including number of plants are lucrative in different food products. Over 250 botanicals comprising of dried or fresh plants, parts of the plants in the form of concentrated extracts are included while the processing of food products. Botanicals are commonly added to deliver color, fragrance and flavor to number of food products. Most of the botanical ingredients among different botanicals applicable in the food industry are recognized safe, on the basis of various regulatory bodies.
What are the factors impacting growth of the global food botanicals market?
Rising intake of herbal supplements and products is the key factor fueling the growth of global market for food botanical. Due to the properties of botanical ingredients including intrinsic health characteristics is resulting in the growing use of botanicals in the food sector. Manufacturers are further focusing on investing in research and development of latest botanicals or plants, which can be utilized in different food products delivering a unique taste and lots of health benefits. Shift in lifestyle as well as rising consumption of dietary supplements comprising of natural ingredients is another key factor driving the growth of the market.
However, strict regulations, rising number of people suffering from different allergies and growing concerns related to raw materials are several major factors limiting growth of the market over the forecast period. The companies that manufacture energy drinks utilizing botanical ingredients are likely to provide a unique product with improved flavors.
Amount the key source, plants are anticipated to grow at highest CAGR over the forecast period. The plants are anticipated to surpass US$ 992.60 Bn, in terms of revenues by the end of forecast period. Dried plants and leaves is anticipated to remain most preferred form of the food botanicals. By the end of forecast period, the revenues generated by this segment will reach approximately US$ 624.9 Bn.
Supplements are anticipated to remain the largest segment in terms of application type. This segment is estimated to surpass US$ 521.8 Bn, in terms of revenues by the end of forecast period. Further, the commercial segment, by end-use type is poised to be the fastest expanding segment over the forecast period. This segment is projected to surpass US$ 931.2 Bn revenues by the 2026-end.
Why is APEJ leading in global food botanicals market?
The food botanicals market in APEJ region is anticipated to witness fastest expansion over the forecast period. This growth is attributed to rising awareness among consumers related to the health benefits of supplements, increased demand for medicines, plant-derived food as well as supplements in economies like India and China. Further, increasing demand for protein products, herbal extract powders and superfoods in APEJ region is another key factor fueling growth of food botanicals market.
What are prominent players operating in the global food botanicals market?
Some of the leading players operating in the global food botanicals market has been profiled in this report such as Verde Farms, LLC, Kerry Group Plc, Arcadian Organic & Natural Meat Co, Pilgrim’s Pride Corporation, BRF S.A., Tyson Foods, Inc., Associated British Foods Plc., and Marfrig Group.
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