[Redding, California] – Meticulous Research®, a leading global market research company, has released its latest publication forecasting the trajectory of the liquid botanical extracts market. The report reveals a projected Compound Annual Growth Rate (CAGR) of 9.1% from 2022 to 2029, culminating in a market value of $5.25 billion by the end of the forecast period.

This anticipated growth stems from various factors driving demand within the market, including the burgeoning interest in liquid botanical extracts for cosmetic applications, the surging preference for ready-to-use botanical extracts, the pervasive health and wellness trends emphasizing natural health products, and the increasing recognition of the benefits offered by herbal products compared to synthetic alternatives. However, the market's expansion may encounter some obstacles due to the availability of substitute products.

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Market Dynamics

The comprehensive study offers insights into historical market data, estimated current figures, and future projections. It delves into various aspects, including the market segmentation by source (herbs, spices, fruits, flowers, roots, tea leaves, and others), application (cosmetics & personal care products, beverages, pharmaceuticals, food, and others), and technology (solvent extraction, cold pressing, steam distillation, supercritical CO2 extraction, ultrasound-assisted extraction, enfleurage, and other technologies).

Key Findings

Source Segmentation: The report highlights the dominance of the herbs segment in 2022, attributed to increasing awareness of the medicinal properties of liquid herbal extracts and the growing preference for herbal medicines. However, the flowers segment is projected to exhibit the highest CAGR during the forecast period.

Application Segmentation: In 2022, the cosmetics & personal care products segment is expected to lead the market, driven by the rising incorporation of liquid botanical extracts in these products. Additionally, shifting consumer trends and increased expenditure on cosmetics & personal care products are poised to further fuel demand within this segment.

Technology Segmentation: Solvent extraction is anticipated to hold the largest market share in 2022 due to its ability to produce high-quality liquid botanical extracts suitable for cosmetic and pharmaceutical applications. Moreover, its environmentally friendly nature and efficacy in producing water-soluble botanical extracts for the food and beverage industry contribute to its growing popularity.

Geographic Insights

North America is forecasted to dominate the global liquid botanical extracts market in 2022, driven by increasing consumer awareness of products containing natural plant-derived extracts and government initiatives promoting technological advancements. Conversely, the Asia-Pacific region is expected to witness rapid growth during the forecast period, fueled by growing awareness of the benefits of natural plant-derived extracts and escalating demand for organic processed food & beverages.

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Key Players

The report profiles key market players, including Ransom Naturals Ltd., International Flavors & Fragrances Inc., Synthite Industries Ltd., Martin Bauer Group, Kalsec, Inc., Kerry Group PLC, Synergy Flavors, Inc., PT. Indesso Aroma, Bell Flavors & Fragrances, Kuber Impex Ltd., and Vidya Herbals Pvt. Ltd., among others, providing insights into their strategic developments and market positioning.

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