At 3.6 % CAGR, Food Botanicals Market Size Worth USD 2.1 Billion by 2026: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
Increase in the Demand for Green Tea Extracts propelling the growth of the Food Botanicals Market.
HYDERABAD, TELANGANA, INDIA, September 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Food Botanicals Market size is estimated to reach $2.1 billion by 2026, growing at a CAGR of 3.6% during the forecast period 2021-2026. Food botanicals refer to the plant extracts and herbs that are used to add flavor, fragrance, and color to the food industry. Food botanicals extend the shelf life of the food products and are also used to add therapeutic properties to the products. These are extracted in different organic solvents and water to be used in the food industry and are mainly sourced from plants and algae. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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https://www.industryarc.com/Research/Global-Food-Botanicals-Market-Research-513261
Key takeaways :
This IndustryARC report on the Food Botanicals Market highlights the following areas -
1. Geographically, the Asia-Pacific Food Botanicals Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the demand for primrose oil in sauces and dressings.
2. The increase in the adoption of black cohosh in bakery and confectionery products is driving the Bakery & Confectionery segment. However, the lack of consistency in the availability of raw materials is one of the major factors that is said to reduce the growth of the Food Botanicals Market.
3. Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Food Botanicals Market report.
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Segmental Analysis :
1. The Food Botanicals Market based on the Source can be further segmented into Plants, Algae, and Lichens or Fungi. The Plants segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 3.9% over the period 2021-2026.
2. The Food Botanicals Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. Asia-Pacific held the largest share with 29% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the demand for primrose oil in sauces and dressings and an increase in the investment by the key players to develop food products sourced from algae.
3. The Food Botanicals Market based on the Application can be further segmented into Bakery & Confectionery, Beverages, Sauces and Dressings, Dairy Products, and Others. The Bakery & Confectionery segment held the largest share in 2020 owing to the factors such as the increase in the demand for plant-based ingredients in bakery and confectionery products and the growing preferences for natural flavoring agents in bakery and confectionery products.
Competitive Landscape :
The top 5 players in the Food Botanicals Industry are -
1. Kerry Group,
2. Dohler GmbH,
3. Martin Bauer Group,
4. Blue Sky Botanics Ltd,
5. Frutarom Industries Ltd,
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https://www.industryarc.com/Research/Botanical-Extracts-Market-Research-504777
B. Botanical Pesticides Market
https://www.industryarc.com/Report/15465/botanical-pesticides-market.html
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