Technavio’s global botanical extracts market research report forecasts the market to grow at a CAGR of over 8% during the forecast period.
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Technavio has published a new market research report on the global botanical extracts market from 2019-2023. (Graphic: Business Wire)
The growing adoption of aromatherapy for stress relief will be one of the significant trends in the global botanical extracts market during 2019-2023. Several factors such as work pressure, finances, relationships, and traffic can result in unmanaged stress that can lead to weight gain, increased sugar levels, body pain, and early aging. Aromatherapy is increasingly being used to combat stress levels owing to its therapeutic effects on stress hormones. The essential oils made from lavender, jasmine, chamomile, and lemongrass extracts activate the release of neurotransmitters such as serotonin, endorphins, and norepinephrine in the hypothalamic-pituitary axis.
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According to Technavio analysts, one of the critical drivers for the global botanical extracts market is the increasing number of surgeries coupled with growing awareness of the benefits of natural cosmetics:
Global botanical extracts market: Growing awareness of the benefits of natural cosmetics
The sources of natural ingredients include herbs, fruits, flowers, leaves, minerals, and water. The demand for natural beauty products is growing because of increased health awareness among consumers globally. The issues such as skin irritations, skin allergies, hair loss, acne, and dark spots have propelled the demand for natural beauty products that include botanical extracts as key ingredients.
According to a senior research analyst at Technavio, “The consumers are seeking effective and natural ways to address skin problems. Natural cosmetics consisting of botanical extracts have antioxidants, tyrosinase inhibitors, and antimicrobial properties, which are good for the skin. For instance, botanical extracts containing phenols can penetrate bacterial cells and coagulate their content.”
Global botanical extracts market: Segmentation analysis
This comprehensive botanical extracts market analysis report provides market segmentation by application (F&B, nutraceuticals, and cosmetics) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the F&B segment held the largest botanical extracts market share in 2018, contributing to around 47% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for 42% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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